7 Best Altcoins to Invest in Right Now January 29 – Osmosis, IOTA, Mina

Blockchain
0

Join Our Telegram channel to stay up to date on breaking news coverage

With the market approaching a bull, the appeal of altcoins has surged dramatically, captivating investors searching for avenues to generate returns. This article curates a selection of the finest altcoins positioned to redefine the future of decentralized finance (DeFi), promising lucrative opportunities for investors.

7 Best Altcoins to Invest in Right Now

Several altcoins are adopting strategies and forming partnerships to increase their reach and investor’s returns. Osmosis linked up with Shido to pioneer the first DEX market pair for the Shido Network. Meanwhile, investors are bullish on Monero after some sustained green candles. Moreover, Mina’s price is up due to increased buying activity, indicating an uptrend in the weeks ahead.

1. Osmosis (OSMO)

Osmosis has partnered with Shido to pioneer the first DEX market pair for the Shido Network. Upon the mainnet’s launch, SHIDO, the native coin, will trade via the SHIDO/USDC market pair on Osmosis DEX. Moreover, Shido plans to inject an additional $1 million into the new liquidity pool to incentivize liquidity provision.

Furthermore, Osmosis is experiencing a surge in trading volume, indicating growing interest in the Cosmos ecosystem. This surge has propelled Osmosis to achieve a remarkable milestone of 1.1 million active addresses since its inception. Similarly, the fourth quarter proved exceptional for Osmosis in revenue generation.

Meanwhile, the increasing number of participants engaging in Osmosis trading activities suggests a building buzz. However, Osmosis faces the challenge of sustaining this growth and differentiating itself in a crowded DEX market. Osmosis must continue pushing boundaries and innovating within the ecosystem to stay ahead.

2. Sponge V2 ($SPONGE V2)

The crypto market is eagerly over Sponge V2, the upgraded version of Sponge V1. Sponge V2 has become the top crypto gainer positioned to capitalize on bullish trends. In addition, it integrates Play-to-Earn (P2E) features, significantly improving.

Furthermore, Sponge is conducting a presale for Sponge V2, attracting users with exclusive bonuses and implementing an automatic staking system. This strategic move aims to engage existing users and actively attract new participants.

Moreover, from its $1 million valuation, Sponge V2 has experienced remarkable growth. Meanwhile, it peaked at over $100 million in market capitalization in 2023 before stabilizing at $16 million. This journey highlights Sponge’s resilience and promising future in the evolving crypto landscape.

3. Monero (XMR)

Trading sessions indicate a bullish sentiment surrounding Monero despite a neutral Fear & Greed Index at 54. Over the past 30 days, Monero has traded above its 200-day SMA. In addition, it has recorded 16 positive trading days, representing 53% of the observed period. Also, Monero boasts high liquidity, which is attributed to its market cap and availability on Binance.

XMR Price Chart

Furthermore, Monero’s current circulating supply stands at 18.39 million XMR out of a maximum of 18.20 million XMR. Alongside this supply, XMR has a yearly supply inflation rate of 1.02%. Moreover, Monero’s network’s privacy-focused and decentralized nature continues to attract attention, with forecasts suggesting significant value growth soon. 

Therefore, predictions indicate a maximum price of $306.55 for XMR by the end of 2024. Likewise, an average trading price of around $286.42 is also forecasted, provided the market remains stable and bullish trends persist.

4. Huobi Token (HT)

With the market approaching a bull, Huobi Token (HT) is gaining attention for its robust foundation and loyal community. HT demonstrates promising signs, trading above its 200-day SMA and recording 15 positive days in the last month. However, with a Fear & Greed Index of 55 (Greed), investors cautiously anticipate HT’s future.

HT Price Chart

Furthermore, HT boasts a circulating supply of 162.23M out of a maximum of 500.00M tokens, with an annual inflation rate of 5.79%. Similarly, it holds the 13th position in Exchange Tokens, 37th in Ethereum Tokens, and 50th in Layer 1 tokens by market capitalization.

Also traded on KuCoin, HT shows growth potential, particularly through partnerships with other networks. Hence, analysts anticipate HT could surpass $16.43 by 2024 with such collaborations. In a positive market scenario, the average price could hover around $14.88 by the same year.

Therefore, these projections are supported by HT’s strong fundamentals and dedicated community. As market trends progress, HT remains a token for promising growth opportunities.

5. IOTA (IOTA)

IOTA’s founder recently announced some big changes ahead for the token. One major update is the upcoming launch of IOTA EVM (Ethereum Virtual Machine) on March 31, 2024. This new addition will bring smart contract abilities and dApp support to the Shimmer network.

IOTA Price Chart

Moreover, IOTA EVM’s addition means more possibilities for developers. They’ll be able to use IOTA’s feeless data transactions and strong security to create new kinds of apps, like ones for finance, unique digital items, and managing supply chains.

Therefore, this move shows IOTA’s dedication to innovating in the blockchain world. It also sets IOTA up as a strong contender in the crypto space, ready to take advantage of new opportunities. With smart contracts, IOTA aims to become even more versatile and competitive in the blockchain industry.

6. Mina (MINA)

Recent analysis reveals that Mina exhibits a bullish price pattern, suggesting potential upward momentum. Mina is nearing the bulls, fueling increased buying activity and indicating a forthcoming uptrend in the weeks ahead.

MINA Price Chart

As such, investors are optimistic that Mina could reach $1.81 by the end of 2024. Along the same line, MINA’s maximum price projection by the end of 2024 is estimated to reach as high as $2.75. However, this price is contingent on market conditions remaining stable and bullish trends persisting.

Key technical indicators, MACD and Relative Strength Index (RSI) validate the bullish sentiment surrounding Mina’s price trend. MINA broke through the $0.95 resistance level in the past week, surging to $1.19 and solidifying its standing as an attractive investment option.

7. KuCoin Token (KCS)

Market analysis signals a green candle towards KuCoin Token, as evidenced by a Fear & Greed Index standing at 55. Over the past year, KuCoin Token hit a 23% price increase, outperforming 54 of the top 100 tokens. Trading activity consistently places KuCoin Token above its 200-day SMA, showcasing positive performance compared to its initial token sale price.

KCS Price Chart

Moreover, KCS has a circulating supply of 80.12 million KCS out of a maximum of 171.25 million KCS. In addition, it currently ranks 8th in the Exchange Tokens sector and 22nd in the Ethereum (ERC20) Tokens sector. Furthermore, KuCoin Token’s strong fundamentals and dedicated community backing place it for growth. 

Hence, analysts foresee a potential price surge for KCS Coin, potentially surpassing $23.34 by 2024. However, this is hinged on the project announcing collaborations with other networks. In a bullish market scenario, the average price of KuCoin Token is projected to stabilize around $21.14 by 2024.

Read More

New Crypto Mining Platform – Bitcoin Minetrix

Bitcoin Minetrix
  • Audited By Coinsult
  • Decentralized, Secure Cloud Mining
  • Earn Free Bitcoin Daily
  • Native Token On Presale Now – BTCMTX
  • Staking Rewards – Over 100% APY

Bitcoin Minetrix


Join Our Telegram channel to stay up to date on breaking news coverage


Credit: Source link

You might also like More from author
Leave A Reply

Your email address will not be published.