Today’s market dynamics reflect a combination of enthusiasm and caution. With a total trading volume of over $345.7 billion over the past 24 hours, market sentiment remains decidedly bullish. This is indicated by the Crypto Fear & Greed Index’s reading of 74, firmly in “greed” territory. A handful of cryptocurrencies have delivered strong returns to investors. On the other hand, some cryptocurrencies have seen their market caps drop significantly. This article will take a look at some altcoins that are worth considering right now.
5 altcoins to buy right now
LINK
Chainlink enables smart contracts to securely access off-chain data. Its community includes data providers, node operators, and developers. It integrates off-chain data and has attracted partners such as Brave New Coin, Alpha Vantage, and Huobi. Users can run nodes and earn income by supporting DeFi applications such as Synthetix, Aave, and Compound. The Chainlink ecosystem has made some impressive progress. It has completed pilots with JPMorgan Chase, Templeton, and Bank of New York Mellon. The Smart NAV pilot tested fund data dissemination on the blockchain.
Furthermore, these developments support future exploration of financial tokenization. The pilot demonstrated that structured on-chain data can support a variety of use cases, such as tokenized funds and brokerage portfolios. Moreover, it can also streamline operational processes across the industry. LINK has made great progress with its current price of $16.85. This price is up 30% over the past seven years. Its price has increased by 160% over the past year, trading 2.64% above its 200-day SMA. Moreover, there have been 20 green days in the past 30 days, suggesting growing investor confidence. It has high liquidity, with a volume-to-market cap ratio of 0.1596. This combination of growth and stability makes LINK a player to watch in the cryptocurrency market. FLOKI FLOKI is a meme token that initially gained popularity due to its association with Elon Musk and Shiba Inu. However, the project behind FLOKI is now developing a wider ecosystem of products and services. FLOKI is a multi-chain token, which means it can run on both Ethereum and Binance Smart Chain blockchains.
FLOKI is growing in value at a rapid pace, driving demand for this meme coin. Currently, the price of FLOKI Inu has surged 40% over the past month to $0.00022. It is now just 45% below its all-time high of $0.0003437. This dog-themed meme coin has been performing exceptionally well, reminiscent of its surge in 2021. With the price down slightly from yesterday, now is an ideal opportunity to take short-term profits.
ABT
Arcblock is based on the Ethereum blockchain and operates in the form of ERC-20 tokens. It is a platform for developing and deploying decentralized web applications. Arcblock promotes itself as a comprehensive blockchain 3.0 product platform that makes it easier to build, deploy, and manage applications. However, the token is experiencing a sharp rally as bullish pressure increases. The platform simplifies the creation of DApps. The altcoin is priced at $4.54 and has risen by 15.97% in the past seven days. In the past month, the price of ABT has increased by 105.56%.
Analysts predict that ABT has the potential for a short- to medium-term rally. The coin’s key momentum indicators are above their respective centerlines, indicating a huge buying interest. For instance, ABT’s 14-day relative strength index (RSI) is 46.41, which suggests that the cryptocurrency is neutral. These indicator values suggest that market participants prefer to accumulate ABT rather than distribute it. If the bullish momentum continues, the price of ABT could rise above $4.60 to $4.70. If this trend continues, the price could test the upper resistance of $5.50 by the end of the month.
WIF
Dogwifhat (WIF) is a memecoin that has recently made waves in the crypto world. Origin Story: Launched in March 2024, dogwifhat is a memecoin inspired by the popular internet meme of a Shiba Inu wearing a pink knitted hat. It rides on the current wave of popularity of memecoins, especially those with dog themes. Built on the Solana (SOL) blockchain, known for its fast transaction speeds and low fees. Similar to many memecoins, there is no publicly known development team.
Current Performance: Price: $2.95. Market Cap: $2.78 billion. Trading Volume: $786 million in the last 24 hours, indicating active trading. Recent Surge: The price has increased by 10.4% in the last 24 hours, possibly due to whale activity. Huge potential for the future!
HBAR
Hedera has been performing well in recent months, with the token price surging significantly, up a massive 122.85% year to date. The surge was initially attributed to rumors of a tokenization partnership with Blackrock, which, although later proved false, did not hinder the continued rise of the Hedera token. The market sentiment surrounding Hedera remains bullish, with expectations that it may soon retest the $0.15 resistance zone. This positive sentiment is supported by a steady weekly increase and an impressive six-month increase of over 88.18%, indicating continued upward momentum.
Despite the brief uncertainty surrounding its partnership with BlackRock, Hedera’s performance has remained resilient. Currently, Hedera’s Relative Strength Index (RSI) is at $50.71, which is significantly above the 200-day Simple Moving Average (SMA) of $0.081104, indicating a neutral stance. This suggests the possibility of sideways trading. Analysts expect a bright future for Hedera, especially with the rise of DApps on its platform. This is expected to drive an increase in demand for the token in the coming years. Forecasts suggest that the token has the potential to reach a maximum price level of $2.48 by the end of the year, with an average price of around $2.24.
