3 Best Altcoins to Buy Right Now As the 2024 Altseason Kicks Off
As the 2024 altseason begins, investors eagerly seek the most promising altcoins to add to their portfolios. With Ethereum leading the charge, several altcoins have caught the crypto community’s attention, as the cryptocurrency market shows signs of resurgence. Among these, Uniswap (UNI), Chainlink (LINK), and Retik Finance (RETIK) stand out as strong contenders for significant growth. Let’s explore why these three altcoins should be on your radar right now.
Uniswap (UNI): Breaks the $10 Bottleneck, Eyes $15
Uniswap (UNI), the native token of the leading decentralized exchange (DEX) platform, has been making headlines recently. On May 25, 2024, UNI’s price surged by over 20% in just 24 hours, reaching a high of $10.99. This impressive price movement has been fueled by a combination of factors, including developments within the Ethereum ecosystem, increased whale activity, and Uniswap Labs’ proactive stance in response to regulatory challenges. The recent price action has seen UNI break out of a prolonged consolidation phase, surpassing the critical $10 mark. Technical indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) suggest that the bullish momentum is set to continue. Analysts are now eyeing key resistance levels at $12.96 and $15.40 as potential targets in the short term. One of the significant catalysts behind UNI’s recent rally is the unveiling of the ERC-7683 token standard. This new standard, a collaboration between Uniswap Labs and Across Protocol, aims to streamline cross-chain trading and enhance the overall utility of the Uniswap platform. Additionally, the ongoing developments and support within the Ethereum ecosystem have provided a favourable backdrop for UNI’s growth. With its strong technical setup and positive market sentiment, Uniswap (UNI) is well-positioned to capitalize on the current altseason, making it one of the best cryptocurrencies to buy right now.
Chainlink (LINK): Targets the $20 Price Mark
Chainlink (LINK) has also been riding a wave of bullish sentiment, driven by increasing network activity and a favourable technical setup. As of May 24, 2024, LINK’s price reached a six-week high of $17.50, marking a 30% increase in May alone. Positive on-chain metrics and rising development activity within the Chainlink ecosystem have supported this upward momentum. According to market intelligence firm Santiment, the ratio of profitable transactions to loss-making ones for LINK stands at an impressive 11 to 1, the highest since December 2022. This indicates strong investor confidence and a bullish outlook for the token. Furthermore, the number of daily active addresses on the Chainlink network has significantly increased, reflecting growing user engagement and adoption. The technical analysis of LINK also presents a strong case for further gains. The token has recently bounced off a horizontal support line at $13 and has flipped several key resistance levels into support, including the $15 mark. The RSI has risen sharply, indicating that buyers are in control, and the path of least resistance appears to be on the upside. With its robust technical indicators and increasing network activity, Chainlink (LINK) is poised to break through the $20 barrier, making it an attractive investment during this altseason.
Retik Finance (RETIK): Crosses $3 Mark Amid 2000% Post-Listing Surge
Retik Finance (RETIK), a newcomer in the DeFi sector, has quickly become one of the most talked-about altcoins of 2024. Following its much-anticipated launch on May 21, 2024, RETIK’s price skyrocketed, reaching an all-time high of $3 within hours. This remarkable surge represents a 2000% increase from its launch price and a 1000% surge from its presale price. The success of Retik Finance can be attributed to its innovative DeFi solutions, which include DeFi debit cards, Retik Swap, a smart crypto payment gateway, a multi-chain non-custodial DeFi wallet, and an AI-powered peer-to-peer (P2P) lending platform. These products meet users’ demands in the digital economy, offering notable convenience and flexibility for crypto transactions. The presale campaign for RETIK was a testament to investor confidence. The platform raised over $32 million and experienced a 400% surge in participation. The community’s enthusiasm and support have been crucial in driving the project’s growth and market adoption. In addition to the token listing activities, Retik Finance also activated staking and Retik Swap options on its website. This development allows users to earn passively on their crypto assets while engaging with other users in the RETIK ecosystem. As Q2 2024 enters its last month, Retik Finance has laid an ambitious roadmap to introduce new products and services, integrate with other DeFi protocols, and enhance security and scalability. While RETIK has since Retraced to $1.25, Analysts remain bullish over the token’s ability in the current altseason. With projections suggesting a potential 5000% increase in value by the end of 2024, Retik Finance remains a top altcoin to buy right now as the 2024 altseason kicks off.
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