Join our Telegram channel for the latest breaking news coverage.
The market is neutral and investors are looking for tokens to update their portfolios for the next bull run. Therefore, alternative coins (altcoins) are valued for their potential to bring good returns. This article introduces and highlights some of the best altcoins to consider investing in now. On this basis, it will shed light on their unique features, potential advantages and factors that make them a popular choice in the market.
There are several tokens that are currently catching the attention of market enthusiasts, including UMA, Bonk, and Gala. These digital assets have demonstrated great potential, triggering many to consider them as attractive investment opportunities. Meanwhile, BlackRock has become a leader in attracting investment into these ETFs, marking an important trend in just one week of active trading.
1. UMA (UMA)
UMA has seen a strong rise of 80% in recent years, pushing its market cap to over $300 million. The project’s current focus is on an innovative development called “Oval.” Uma Protocol, known for its oracle, presented the “Oval” project.
According to Uma, the goal of “Oval” is to protect DeFi lending protocols from potential minimum extractable value (MEV) attacks. In the same context, Uma’s co-founder highlighted the losses incurred due to such attacks, thus raising expectations for “Oval” as a long-awaited solution. In addition, investors speculate that “Oval” will actively incorporate UMA tokens into its mechanism, potentially driving the value of $UMA up.
Therefore, traders are optimistic about UMA, with a Greed Index of 56, which means high buy. However, there are 6.24 million UMA circulating in the market, with a total volume of 101.17 million. On the positive side, UMA ranks 18th in the DeFi Coins sector and 7th in the Yield Farming sector. Moreover, it ranks 43rd in the Ethereum (ERC20) token sector.
Lending protocols lose tens of millions of dollars every year due to MEV.
It's time to recapture this value.
pic.twitter.com/bEbCAlgCC9
— UMA (@UMAprotocol)
January 18, 2024
Moreover, UMA has gained 206% in the past year, surpassing 85% among the top 100 coins. Moreover, it is above the 200-day simple moving average, indicating an overall uptrend. Incidentally, UMA has seen green candles in 17 of the past 30 trading days. Apart from this, UMA is actively trading near its cycle highs, showing strong liquidity based on its market cap.
2. Sponge V2
Sponge V2 has captured the attention of the market, transcending its origins as the $SPONGE meme coin. The project's market cap has grown rapidly, jumping from just $1 million to $100 million. Sponge V2 has taken a significant position in the market, with a market cap of $16 million.
#SpongeV2
The roadmap is full of innovative features and expansion plans.
Someone say bigger and better exchanges?
Don't be left behind. ⚡️
$SPONGE
#Web3
#Crypto
#Altcoins
pic.twitter.com/NsvgQpbeaT
— $SPONGE (@spongeoneth)
January 21, 2024
This growth has not gone unnoticed as Sponge V2 has received strong support from over 11,500 members. This highlights the growing popularity of the project and makes it one of the best altcoins right now. To further boost its growth, Sponge V2 has introduced an innovative staking-to-bridging model. Thus, this allows existing $SPONGE holders to seamlessly transition by staking their V1 tokens.
In addition, this strategic move highlights the project's commitment to investor loyalty. Those who choose to transition can receive an annualized return of at least 40% within four years.
Furthermore, the token economics of Sponge V2 shows that 150 billion tokens are intentionally allocated to drive the development of the ecosystem. This includes a large portion for staking rewards (43.09%) and Play to Earn Games (P2E) (8%). Therefore, the token distribution of Sponge V2 focuses on promoting community participation and attracting user incentives. Again, it is consistent with the overall goal of the project's sustainable growth and active community participation.
3. Gala (GALA)
Despite the neutral market, Gala remains strong and is approaching the $0.0357 resistance line. In the past month, the price of Gala has grown by more than 25%. Moreover, investors are watching these developments as the green candles provide support for Gala.
Moreover, traders are actively participating in an active market, exploring a range of 9,999 unique NFTs and immersing themselves in exclusive digital art and collectibles. Moreover, the bullish momentum of Gala has been strengthened as it is trading above the major moving averages, indicating that the buying interest in the market persists.
Subsequently, GALA’s price reached $0.024512 with an intraday trading volume of $95.41M. Likewise, the token’s market cap has grown to $681.27M, maintaining a market share of 0.04%. In the past 24 hours, GALA has experienced a price growth of 3.45%. Gala ranks 23rd in the Ethereum (ERC20) token space, 6th in the NFT token space, and 5th in the gaming space by market cap.
Building up some updates! | Ahead of the Game Ep. 34
https://t.co/rvwsyVLdlF
— Gala Games (@GoGalaGames)
January 18, 2024
On the positive side, Gala is above the 200-day simple moving average, indicating a positive trend. Likewise, Gala is highly liquid based on its large market cap. The coin is actively traded on Binance, further increasing its popularity in the market.
4. Bonk (BONK)
Traders are watching the development of the market as the Greed Index is 56, indicating moderate trading activity. Bonk is trading at $0.00001188 with an intraday trading volume of around $52.81 million. Furthermore, Bonk experienced an intraday gain of 3.12%, with a market cap of $752.56 million and a market share of 0.05%.
Therefore, there are currently 6333 trillion BONKs in circulation with a maximum supply of 1 trillion. In addition, the annual supply inflation rate has been 36.20% over the past year, resulting in 1683 trillion BONKs being generated over the past year. In terms of position, Bonk ranks third in the Meme Coin space, showing a strong market cap.
The coin reached an all-time high on December 15, 2023, at $0.00003428. However, Bonk’s all-time low was on October 12, 2023, at $0.0061753. After the low, the coin experienced a cycle low of $0.0059387. Nevertheless, its highest price since the last cycle low reached $0.00001751.
GM
The first week of 2024 has passed
It’s a time to reflect on the past, plan for the future, and keep preparing for the new year.
10 chains, more than 600,000 independent holders, 42 exchanges
Thanks to all the builders and integrations of the BONK ecosystem in 2023
Looking back at the highlights of BONK 2023…
pic.twitter.com/fWgJgAX7JG
— Bonk! (@bonk_inu)
January 8, 2024
Therefore, Bonk is expected to achieve potential growth and its community expects an upward trend soon. The expectation of partnerships with other networks may push BONK coin to exceed $0.0001764 in 2024. Similarly, a bullish market can push the average price of Bonk to $0.0001598 in 2024. However, in a downward market, the minimum expected value of BONK coin in 2024 is $0.0001498.
5. The Graph (GRT)
With the recent release of Graph Horizon, GRT's outlook shows a stable trajectory and potential for future growth. This makes The Graph a strong investment option for investors who hold the coin. The Graph grew slightly today, reaching $0.163543, with a market share of 0.09%.
Furthermore, with a current trading volume of $86.13 million, GRT’s market cap has reached $1.54 billion. The Graph has shown resilience and growth, surpassing the top 100 tokens by 73% and a price increase of 94%. Investors are holding the coin as market sentiment is neutral.
There's a new proposal for the next iteration of The Graph's underlying protocol
In this forum post, learn:
What Graph Horizon is
Horizon's proposed protocol updates
How staking could create a more modular & permissionless protocol
New approaches to delegation
➕…
— The Graph (@graphprotocol)
January 17, 2024
This sentiment is supported by the Greed Index of 56 (Greed). However, an upward trend is not out of reach as GRT is above the 200-day simple moving average, indicating strength and stability. The Graph has fairly high liquidity based on its market cap, and being listed on Binance helps its visibility in the market.
Read more
Best Altcoins List
Our previous articles on the best altcoin investments
New Crypto Mining Platform – Bitcoin Minetrix
Rating
Audited by Coinsult
Decentralized and secure cloud mining
Earn Free Bitcoin Every Day
Native Token Presale Now Available – BTCMTX
Staking Rewards – Annualized rate of return of over 100%
learn more
Join our Telegram channel for the latest breaking news coverage
English 
Chinese (China) 
Chinese (Hong Kong) 