5 Best Altcoins to Invest in Right Now December 28 – Bitcoin SV, Rocket Pool, Meme Kombat

On Dec 29, 2023

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Searching the crypto market introduces a myriad of investment possibilities. With Bitcoin’s dominance paving the way, altcoins offer investors several investment opportunities.

However, the evolving crypto space means that identifying the best altcoins worthy of investment demands a keen understanding. Therefore, this article explores the best altcoins to invest in, unveiling promising projects poised to experience an upward trend.

5 Best Altcoins to Invest in Right Now

On Wednesday, the cryptocurrency market exhibited continued strength despite the mid-week moniker of “Hump Day.” This development prompted investors’ notable interest in altcoins and crypto-mining stocks.

Marathon Digital Holdings, a leading company in the mining sector, closed the day with a nearly 15% increase in value. These movements reflect investors’ response to price movements within the cryptocurrency sphere.

1. Bitcoin SV (BSV)

Bitcoin SV has seen a successful trading day, amassing a 65% intraday surge. Notably, the South Korean market primarily drives this upward trend. Upbit, South Korea’s largest exchange, contributed around 65% of the total trading volume. Hence, this highlights Korean investors’ significant interest and influence in BSV’s recent price spike.

In the last 30 days, BSV experienced gains on 17 days, constituting 57% of the observed period. However, it maintains a position near its cycle high. Moreover, the cryptocurrency boasts high liquidity based on its market capitalization.

The current market data shows that Bitcoin SV is valued at $91.77, with a trading volume of $434.98 million. With a market capitalization of $1.80 billion, the token asserts a market dominance of 0.11%. Within the past 24 hours, BSV surged by 60.05%.

Market sentiment and the Fear & Greed Index indicate a bullish outlook, displaying a reading of 73 in the Greed territory. Bitcoin SV’s circulating supply is 19.59 million out of a maximum supply of 21.00 million BSV. Over the past year, the yearly supply inflation rate has been 1.85%, creating 356,417 BSV.

2. Meme Kombat (MK)

Meme Kombat has emerged as a notable addition to the crypto landscape, drawing attention to its distinct features and objectives. In their current presale phase, MK has successfully raised $4,968,753 out of a targeted $5,000,000.00. Thus indicating early interest among potential investors.

We have reached $4.8 million in the $MK presale🥊
LFG🚀 pic.twitter.com/JsZprP66ik
— Meme Kombat (@Meme_Kombat) December 27, 2023

Furthermore, the platform’s primary focus is catering to gaming enthusiasts. Therefore, it offers a combination of staking and betting functionalities, allowing users to accrue rewards.

Currently, 50% of MK tokens are available in the presale for $0.257 each, with a prescribed cap of $10 million. This strategy aims to enhance the utility of MK tokens for its user base. It’s worth noting that there exists a 5-day window before the price per token increases to $0.268.

Meme Kombat’s roadmap includes plans to list its tokens on a decentralized exchange. Therefore, 10% of the total token supply is allocated to facilitate smooth trading. This move underscores the project’s commitment to fostering decentralized MK token trading, a commitment detailed in their whitepaper.

3. Rocket Pool (RPL)

Rocket Pool has rallied over the past year, catching the market’s eye. The current price is $32.10, marking a 61% increase over the last 12 months. RPL consistently traded above the 200-day simple moving average, indicating a sustained upward trend in the market.

In the short term, Rocket Pool has experienced 16 positive trading days out of the last 30. This accounts for 53% of the observed period. This recent trend, coupled with its high liquidity based on a market cap of $641.75 million, suggests a degree of market interest and participation.

Regarding market sentiment, the current outlook for Rocket Pool appears bullish, aligning with a Fear & Greed Index showing 73 (Greed). Examining its supply metrics, Rocket Pool currently circulates 19.99M RPL out of a maximum supply of 19.11M RPL. The yearly supply inflation rate is 94.47%, creating a 9.71M RPL over the past year.

Rocket Pool is continuing to be deeply integrated across the growing Base ecosystem, providing more options for users.
Read on to find out how Base, Coinbase Wallet, & Coinbase Ventures are all supporting Ethereum’s Decentralised Liquid Staking Protocol 👇
1/4 pic.twitter.com/eLXwgtzXBX
— Rocket Pool (@Rocket_Pool) December 11, 2023

As of now, Rocket Pool holds the 28th position in the Ethereum (ERC20) Tokens sector based on market capitalization. This positioning within the market reflects its relative standing compared to other projects in the sector.

4. Chainlink (LINK)

Chainlink (LINK) has experienced a resurgence in the altcoin market leading to 2024, displaying notable price movements. Within the last 24 hours, LINK surged by 17% to $17.50. This is accompanied by a significant increase in trading volumes, nearly doubling to $1.1 billion. This surge is reportedly attributed to substantial purchases made by Chainlink whales. Furthermore, this is indicated by the acquisition of approximately 7 million LINK tokens, with a weekly value of $105 million.

Moreover, analysts highlighted this surge in confidence among major players within the Chainlink ecosystem as whales accumulated significant supplies. At the same time, LINK’s price stabilized above $14 levels over the past week.

From a technical perspective, Chainlink (LINK) appears to be consolidating within a robust re-accumulation zone. Following a flag-and-pole breakout pattern, sustaining its price above $17 could potentially trigger a further rally toward the $25 mark.

The highest recorded price for LINK since the last cycle low is $17.67 (cycle high). Also, sentiment analysis indicates a bullish outlook for Chainlink, while the Fear & Greed Index registers at 73 (Greed).

Q4 2023 Product Update@chainlinklabs Chief Product Officer @kelmoujahid covers:
• The latest Chainlink deployments
• What’s next for #Chainlink oracle services
• The major areas of focus for the network heading into 2024
Dive in ⬇️https://t.co/9QomUC8DNy
— Chainlink (@chainlink) December 19, 2023

As for its market statistics, Chainlink’s circulating supply stands at 568.10M LINK out of a maximum supply of 1.00B LINK. Notably, the yearly supply inflation rate is at 11.83%, creating 60.10M LINK in the past year. Over the last 30 days, Chainlink has observed 17 green days, accounting for 57% of the period. It is currently trading near its cycle high, indicating high liquidity based on its market capitalization.

5. Lido DAO (LDO)

Lido DAO Token (LDO) has shown notable growth over the past year, experiencing a substantial 193% increase in its price. This performance has positioned it favorably among the top 100 crypto assets, outperforming approximately 71% during this period. Notably, LDO has also surpassed the growth rates of both Bitcoin and Ethereum.

Currently, LDO is trading above its 200-day simple moving average, indicating a positive trend in its value. Moreover, recent market activity has seen 16 green days within the last 30 days. Hence, this constitutes 53% of positive trading sessions, reflecting a moderate but consistent upward trajectory.

In terms of tokenomics, the circulating supply stands at 890.17 million LDO out of a maximum supply of 1 billion LDO. The annual inflation rate remains notably high at 184.44%, creating 577.22 million LDO over the past year.

The highest price recorded since the previous cycle low is $3.30, marking a cycle high for LDO. Additionally, the Fear & Greed Index indicates a 73 (Greed) sentiment, signaling a predominantly positive market sentiment.

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