The upcoming Bitcoin halving event is a reminder of the volatility of market performance. According to historical data, the period before the halving event is usually accompanied by a decline in market capitalization and trading volume.
However, smart investors are using this opportunity to look for promising altcoins. This search is aimed at taking advantage of the altcoin season after Bitcoin’s halving. InsideBitcoins further provides insights by pointing out altcoins that are worth considering by investors.
The 5 Best Altcoins to Invest in Right Now
Investors are looking at tokens such as NEAR Protocol, ORDI, and Injective as promising investment opportunities as people are looking forward to the next bull market cycle. This increase in interest has boosted investor confidence, prompting them to re-evaluate and optimize their portfolios.
Meanwhile, Bitcoin Minetrix attracted considerable market interest during its presale, raising more than $12.9 million. However, Bitcoin is experiencing a decline as U.S. job growth data for March exceeded expectations.
1. NEAR Protocol (NEAR)
NEAR Protocol's price action has been declining, with a slight drop of 8% over the past week. However, when zooming out over the timeframe, NEAR's performance shows significant growth. On a month-to-date basis, NEAR's price has increased by over 50% and over 5,00% over the past six months.
Furthermore, NEAR has been hovering between $6.74 and $7.98 and was last traded at $7.09. Its price has risen an impressive 254% so far this year, indicating an uptrend is currently underway. Moreover, NEAR is trading above its 200-day simple moving average, indicating positive momentum.
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— NEAR Protocol (@NEARProtocol)
April 3, 2024
Judging from the recent trend, if the momentum continues to grow, NEAR may target the nearest resistance level of $8.67. However, there is an insurmountable hurdle before the second resistance level of $9.91. Conversely, downside protection can be found at $6.18, and stronger support is around $4.93. The development of NEAR mainly depends on market sentiment and adoption progress. In the past 30 days, there have been 16 days of gains and it is expected to maintain growth.
2. ORDI (ORDI)
Coinbase’s institutional client subsidiary plans to list perpetual futures contracts for BRC-20 tokens Ordinals and Worldcoin on April 11. In an announcement on April 5, Coinbase International Exchange announced that it will list perpetual futures products for ORDI and WLD before April 11. As a result, institutional investors will be able to trade these futures on Coinbase International Exchange and Coinbase Premium Platform.
The introduction of perpetual futures contracts for ORDI and WLD reflects the platform’s commitment to providing institutional investors with diversified investment opportunities. In addition, this development expands the range of available financial instruments and reflects the growing maturity of the crypto derivatives market.
Following this news, ORDI has risen by 9.65% to $64.99 in the last trading session. ORDI is close to the cycle high of $66.70 and is trading at 383.02% above its 200-day simple moving average of $13.55, indicating a strong bullish trend.
In addition, the recent market trend shows that ORDI has green candles in the past 15 trading days. The overall market sentiment is positive, coupled with the greed index of 75, indicating that there is a general greed among market participants.
3. Bitcoin Minetrix (BTCMTX)
Bitcoin Minetrix's market entry aims to solve the challenges of the Bitcoin cloud mining industry. Introducing a revolutionary Stake-to-Mine mechanism that leverages smart contracts on the Ethereum network. This groundbreaking approach enables users to stake and burn tokens for mining power, solving the industry's scam and unreliability issues.
In addition, the project has attracted a lot of attention, raising more than $12.9 million in the current pre-sale phase. With a total stake of 765,244,774 BTCMTX tokens, Bitcoin Minetrix has an estimated annual reward rate of 55% per ETH block.
With the start of Bitcoin Minetrix’s 35th presale, investors have a 4-day strategic window before the expected price increase. This provides investors with an opportunity to take advantage of the current token price of $0.0145 before a potential increase.
Investors looking for a reliable and innovative cloud mining method are attracted to Bitcoin Minetrix and its Stake-to-Mine mechanism. With its impressive fundraising and promising reward structure, the project aims to revolutionize and strengthen the cloud mining industry.
5. Injective (INJ)
Injective has just launched its latest upgrade, Injective Bridge Ionic, which aims to add significant improvements to the DeFi space. This upgrade introduces enhanced functionality and a smoother user experience. In addition, it represents an important step towards improving interoperability within the crypto space.
In addition, INJ's market performance has reacted positively to the news, leading to more praise. Injective is trading at $34.72, up 10.10% in the past 24 hours. At the same time, investors are optimistic about INJ, and market greed is increasing.
Injective is trading above its 200-day simple moving average at 214.33%, currently at $11.02. It has shown impressive growth over the past year, with a price increase of 503%. This performance outperforms the top 100 crypto assets including Bitcoin and Ethereum, which have a value of 88%.
1/Injective Bridge’s Ionic upgrade reveals the most advanced interoperability solution in the crypto space.
Choose from 16+ blockchains to seamlessly bridge to Injective, including @Ethereum, @Solana, & @Cosmos, unifying the industry’s largest blockchains.
—Injective (@injective)
April 5, 2024
A key advantage of Injective is its high liquidity, which is driven by its strong market capitalization. This positive liquidity profile is further reflected in the performance relative to the token sale price.
In conclusion, the Injective Bridge Ionic upgrade further consolidates Injective’s leading position in the DeFi field. With its continued growth trend and strong market fundamentals, Injective remains a promising investment opportunity.
5. Theta Network (THETA)
Theta Token is on an uptrend, prompting investors to consider it as one of the best altcoins currently. In the last trading day, THETA has gained 5.88% and is trading at $2.67. The token is priced at 100.79% above its 200-day simple moving average, and its positive performance further reflects its potential.
Theta Token has shown strong growth over the past year, outperforming Bitcoin and Ethereum. Despite the recent decline, there are compelling signs that Theta Token could be in for a major turnaround. Analysts point to a possible golden cross on the weekly chart, indicating a possible long-term trend reversal. As a result, Theta Token could be approaching its 200-week exponential moving average (EMA), and the prospect of a golden cross boosts investor confidence.
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— Theta Network (@Theta_Network)
March 31, 2024
Theta Token is poised for a potential upside, thanks to strong technical indicators and positive market sentiment. However, investors should closely monitor its developments in the coming weeks before making any decisions.
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