Choosing the best cryptocurrencies to invest in is an ongoing task, with new tokens being listed on centralized and decentralized exchanges every day. The upcoming Bitcoin halving is a highly anticipated event in the cryptocurrency market. Historical halving cycles have brought significant gains to Bitcoin, often leading to new all-time highs. However, it is worth noting that top altcoins like Solana, Chainlink, and SingularityNET also tend to experience significant growth in market capitalization after halving events. Surprisingly, certain altcoins have outperformed Bitcoin after halving events.
The best cryptocurrency investment options right now
In the cryptocurrency market, new tokens are flooding onto various trading platforms every day. As investors seek to find the most promising opportunities, it is crucial to stay up to date. This article highlights some of the well-known cryptocurrencies worth considering investing in, providing insights into the reasons for their potential rise.
1. Ethena (ENA)
Ethena is a new synthetic dollar protocol running on the Ethereum blockchain. It provides a stablecoin alternative called USDe. Unlike traditional stablecoins, USDe is not dependent on fiat currency, but is backed by cryptocurrency.
In the most recent week, ENA’s price increased from $0.62 to $1.50, and its market cap increased from $854 million to $1.8 billion. This marks an impressive one-week gain of 1,05% – an outstanding performance.
ENA’s current trend is very bullish, with the coin continuously creating higher highs and lower lows. Technical analysis shows that Ethena’s outlook is positive, with all four technical indicators indicating positive momentum for ENA. Market analysts expect the price of Ethena to reach $1.73 by the end of the second quarter of 2024.
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pic.twitter.com/kUJOLiKeKM
— Ethena Labs (@ethena_labs)
April 10, 2024
The token’s relative strength index (RSI) remains bullish, indicating that there is still room for growth, especially considering the liquidity on various platforms. In addition, increased whale activity and staking rewards further support the upcoming price increase.
2. Bitcoin Minetrix (BTCMTX)
Bitcoin Minetrix has attracted widespread attention, raising over $13 million in its initial coin offering (IPO) and preparing for an upcoming exchange listing. The success of this pre-sale highlights the growing demand for decentralized ways to interact with Bitcoin.
48 hours left
#BitcoinMinetrix
Stage 37! ⏳
How do you think the adoption of Bitcoin as a reserve asset by companies will affect mining?
pic.twitter.com/bLaKl4vtVQ
— Bitcoinminetrix (@bitcoinminetrix)
April 13, 2024
In addition, the project plans to disrupt the Bitcoin mining sector through its Stake-to-Mine mechanism. The system allows users to stake native BTCMTX tokens in exchange for mining points. In addition, these points can be used for Bitcoin mining time or a portion of mining revenue.
By exchanging these points for mining time on the decentralized Bitcoin Minetrix service, holders can potentially double their earnings by combining staking rewards with Bitcoin mining earnings. Currently trading at $0.0146 per token, investors have one day left to make their investment before the next price adjustment.
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3. Toncoin (TON)
The TON Foundation recently announced a partnership with HashKey Globals, which has sparked interest in the cryptocurrency community, especially in the Asia-Pacific region. The partnership aims to provide users with a seamless experience in converting Toncoin to cash.
The initiative marks the beginning of a joint effort to establish a foothold initially in Hong Kong, with plans to expand to other Asia-Pacific markets depending on the success of the initial phase. In addition, the partnership not only involves transaction facilitation, but also includes jointly exploring new ecosystem projects, mentoring opportunities, networking and other incubation activities.
The announcement of the partnership was accompanied by significant fluctuations in the value of Toncoin. The cryptocurrency’s price rose slightly by about 1.7% after the news was announced, but it has fallen by nearly 4% in 24 hours. Prior to the announcement, Toncoin had already reached a new all-time high, reaching $7.65 per token.
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The most active memecoin trader on the planet airdropped 300,000
$TON
If you exchanged whitelisted tokens between March 4 and April 10, congratulations! You deserve it.
Details ⬇️
pic.twitter.com/VSRImzRoIh
— TON (@ton_blockchain)
April 11, 2024
Additionally, in order to incentivize participation within the ecosystem, the TON Foundation recently distributed 300,000 Toncoins to active meme coin traders who trade on select platforms. The airdrop, worth approximately $2.19 million, was targeted at traders who traded between specific dates, with each eligible wallet rewarding 90 free tokens.
4. Goldfinch (GFI)
Goldfinch operates in the global credit space as a protocol that provides stablecoin yields from sustainable real-world economic activity. The platform's main goal is to improve the accessibility of DeFi lending by accepting loans with collateral both on and off the blockchain. Over the past 24 hours, the GFI token has seen significant growth and is currently trading at $4.02, up 2.01%.
Furthermore, the price of GFI has increased by 501% in a year, outperforming 91% out of 100 crypto assets in the same period. Currently, the sentiment surrounding the coin’s price prediction is bullish, while the Fear and Greed Index is at 72, showing the level of greed among investors.
Technically, GFI is trading above its 200-day simple moving average, indicating positive momentum. Moreover, GFI has seen 15 up sessions in the past 30 days. Moreover, based on its market capitalization, GFI is highly liquid.
In short, Goldfinch is a promising player in the DeFi space, offering a unique approach to lending and stablecoin yields. However, before making any decisions, investors should conduct thorough research and consider the risks of investing in cryptocurrencies.
5. VeChain (VET)
VeChain recently inked a $100 million deal with the Ultimate Fighting Championship (UFC). Over the next five years, the partnership aims to leverage VeChain’s technology to engage with fans around the world and expand UFC’s global reach. The move marks UFC’s entry into the blockchain space, acknowledging the growing influence of cryptocurrency in the sports world.
This collaboration shows UFC’s entry into the cryptocurrency market and highlights the growing acceptance of blockchain technology. This partnership also means VeChain gains access to the UFC’s fan base, which is ideal for their growth. The impact this alliance has had on VET’s market cap is already evident.
Today marks our
@UFC
This is an important step in the relationship!
#VeChain
The latest NFC and blockchain technology will be integrated into boxing gloves, providing an unchangeable record of use and ensuring that fans receive authentic products authenticated by blockchain.
pic.twitter.com/XFqdlmWqTU
— vechain (@vechainofficial)
April 12, 2024
Despite the recent market volatility, the coin is showing signs of recovery, trading above its 200-day simple moving average. Additionally, VET is showing a positive trend in trading activity, with gains in 16 of the past 30 days, indicating increased investor interest.
Investors are optimistic about the value of VET, predicting that its price will rise. In addition, the Fear & Greed Index shows that investors are leaning towards greed, with a reading of 72 (Greed). In the coming days, the impact of this partnership on UFC’s global expansion and VeChain’s market presence will become more apparent.
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