Our focus is on the best alternative crypto investments, but first let’s take a look at the general sentiment surrounding Bitcoin. The coin was able to maintain its expected strong position above $66,000 and is currently trading around $60,000. Its recent volatility has put the entire cryptocurrency market into a correction phase.
With recent events, choosing the right cryptocurrency alternatives to invest in has become difficult. Investors are looking for the best cryptocurrency buying opportunities right now. This analysis aims to simplify this exploration process by presenting a curated list of crypto alternatives with the potential for huge returns.
5 Best Options for Cryptocurrency Investment
Certain cryptocurrencies have attracted attention for their performance and are trending in the market. Today, we highlight BTC, Litecoin, Kaspa, and Telcoin. Each of these has shown impressive price surges and strong market power.
The Weiner AI presale was also highlighted in the analysis of the best alternative cryptocurrency investments. The project’s unique blend of virality and advanced artificial intelligence was a significant catalyst behind its rapid growth and early success.
1. Maker (MKR)
Maker has regained momentum, gaining 7.93% in value over the past 24 hours, after being in a bearish trend since April. The price increase was supported by a growth in trading volume of 41.69%, indicating more investor confidence in the token. Furthermore, the standby token has gained 4.12% over the past week, reflecting the growing bullish sentiment towards MKR’s price.
In addition, the MACD technical indicator shows that its green histogram is in an upward trending pattern. Technical analysis shows that this unique pattern means that there is more pressure to buy Maker in the market. In addition, in the 24-hour price chart, the MKR Simple Moving Average (SMA) achieved a bullish crossover and showed a favorable outlook for the weekly chart.
Meanwhile, MakerDAO recently integrated the Direct Deposit DAI Module (D3M) into Spark's MetaMorpho Vault, strengthening the decentralized finance system. This integration allows 500 million DAI to be provided to Ethena's USDe and sUSDe markets, both of which are linked to DAI. This move has contributed to the recent positive performance of MKR.
The proposed changes to Spark's MetaMorpho Vault and SparkLend have been approved by Governance Polls.
If approved, the following changes will be implemented:
[Mainnet] Update…
https://t.co/CaXJ0iFgf6
— Maker (@Maker)
June 21, 2024
If the overall crypto market can keep the bullish sentiment intact, MKR is expected to retest the $2,539 resistance level in the coming weekend. This test is based on the bulls resisting the bears and avoiding profit-taking. On the contrary, if there is a trend reversal, the price of Maker may fall to the key support level of $2,165.
2. Kaspa (KAS)
Kaspa maintains its bullish trend, gaining 6.50% in value in the past 24 hours. This alternative proxy has gained 16.53%
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