Recent analysis suggests that Bitcoin (BTC), the leading cryptocurrency, may be approaching a bullish period. Two primary factors support this outlook: a drop in Bitcoin reserves and an increase in stablecoin reserves. This combination of reduced Bitcoin supply and enhanced buying power has led to expectations of a possible price increase for the digital asset.
Meanwhile, crypto analyst Miles Deutscher notes that altcoins are currently forming a flag pattern on shorter time frames while showing a bullish reversal trend marked by higher lows. This indicates that while altcoins are seeing brief price movements within a tight range, the overall trend suggests a potential upward breakout in the near future. Given this bullish sentiment, investors are searching for the best altcoins to invest in today.
6 Best Altcoins To Invest In Today
Maker (MKR) is currently priced at $1,288.31, marking an 8.21% rise in the last 24 hours. On October 22, the Kaspa network processed 15.79 million transactions. Meanwhile, Chainlink, in collaboration with Lido, has launched a new cross-chain staking feature that leverages its Cross-Chain Interoperability Protocol (CCIP).
Additionally, Pyth Network, a blockchain oracle service, recently exceeded Chainlink in terms of 30-day transaction volume, even though its total value secured (TVS) remains lower. In the broader market, Bitcoin has paused after nearing its all-time high. Meanwhile, FreeDum Fighters, a new meme coin presale initiative, is generating interest with its mix of political humor and attractive earning potential.
1. Maker (MKR)
Maker (MKR) is currently valued at 1,288.31, reflecting an 8.21% increase over the past 24 hours. MKR is available on Binance, and its 24-hour volume-to-market cap ratio sits at 0.2632. This indicates relatively high liquidity in relation to its market capitalization. The token also has a negative yearly inflation rate of -10.30%, which could positively influence its long-term supply dynamics.
Looking toward November 2024, forecasts suggest potential growth for MKR. Analysts predict a price target of approximately 2,002.31, with the price possibly ranging between 1,244.66 and 2,290.89. This anticipated range is influenced by recent market performance. If this outlook materializes, investors purchasing MKR now might see an estimated return of 77.72%.
An additional forecast suggests an even higher target of 2,219.95 by November’s end, representing a potential 78.36% increase from current levels. Market sentiment for MKR appears neutral. However, the Fear & Greed Index sits at 69, showing moderate optimism or “greed” among investors. In the last 30 days, Maker recorded a 47% rate of positive trading days, with volatility around 10.11%.
2. Kaspa (KAS)
On October 22, the Kaspa network recorded 15.79 million transactions. This volume is significant, especially since it was achieved using PoW technology, which is known for its censorship resistance. For context, Kaspa’s daily transaction volume that day was roughly 2.1 times greater than the combined all-time highs of other established cryptocurrencies, including Bitcoin (BTC), Ethereum Classic (ETC), Litecoin (LTC), Bitcoin Cash (BCH), and Dogecoin (DOGE).
Notably, this surge was driven by the introduction of a single token on the KRC20 standard. This new token attracted substantial support from the Kaspa community, highlighting the network’s responsiveness to innovation.
🔥15.79 Million Transactions. 🔥
That's the total amount of accepted transactions from the @KaspaCurrency network last Tuesday, 22/10.
Please read this post from #Kaspa Ambassador, @elldeeone as he breaks it down. #ProofOfWork #L1 #1BPS #KAScharts https://t.co/fpigqR3AEE
— Kaspa (@KaspaCurrency) October 24, 2024
Currently, Kaspa’s price stands at 0.114593, marking a 1.84% increase over the last 24 hours. Over the past year, the price has risen by 125%. Kaspa has outperformed 64% of the top 100 cryptocurrencies in this period, trading 79.99% above its 200-day simple moving average of 0.063593.
3. Chainlink (LINK)
Chainlink, in partnership with Lido, has introduced a new cross-chain staking feature utilizing its Cross-Chain Interoperability Protocol (CCIP). This feature enables direct ETH staking across various Ethereum Layer 2 networks, including Arbitrum, Base, and Optimism. Users can now stake to these networks in one seamless transaction, making the process more accessible. They receive wrapped staked ETH (wstETH) directly, with no additional steps or third-party platforms involved.
Currently, Chainlink’s price is 12.14, up 1.25% over the past 24 hours. It has shown steady growth, with a 10% rise over the past year, performing positively since its initial token sale. In the last 30 days, 16 days saw the daily close price surpass the daily open, highlighting consistent market demand. Additionally, its market cap reflects high liquidity, suggesting sustained investor interest.
Explore how #Chainlink powers onchain finance with demos on RWA tokenization, fund tokenization, and DeFi derivatives.
Choose your adventure ↓https://t.co/oDnhunGji7 pic.twitter.com/fsRP33VOYI
— Chainlink (@chainlink) October 31, 2024
The sentiment around Chainlink remains bullish, and the Fear & Greed Index currently indicates a “Greed” phase with a reading of 69. This integration with Lido showcases Chainlink’s continued contribution to the DeFi ecosystem.
4. Pyth Network (PYTH)
Pyth Network, a blockchain Oracle provider, recently surpassed Chainlink in 30-day transaction volume despite its lower total value secured (TVS). This shift could be due to Pyth’s unique pull-based Oracle model, which delivers data only upon request rather than regular updates, as seen in Chainlink’s push-based system. This on-demand model is particularly suited for high-frequency applications, such as trading, where immediate data access is critical.
Recent data from DefiLlama highlights an increase in transaction volume for Pyth, reaching $36 billion over the past month. This trend suggests rising demand for Oracles capable of supporting high-frequency needs. Pyth’s model appears optimized for platforms prioritizing real-time, high-speed data, aligning with the current market’s direction.
Currently priced at $0.402013, Pyth’s token (PYTH) has risen by 5.47% in the last 24 hours, with gains in 15 out of the past 30 days. The price sentiment remains optimistic, bolstered by a Greed reading of 69 on the Fear & Greed Index, which indicates investor confidence.
5. TRON (TRX)
TRON recently announced its participation in the Chainlink SCALE program, adopting Chainlink Data Feeds as its primary Oracle solution. This move is expected to drive growth and broaden adoption within the TRON ecosystem by providing developers with stable access to reliable, high-quality Oracle services.
With Chainlink’s integration, TRON will discontinue its reliance on WINkLink as its oracle solution, securing over $6.5 billion in DeFi Total Value Locked (TVL) through Chainlink’s network.
We’re excited to join the @Chainlink Scale program and adopt #Chainlink Data Feeds as TRON's official oracle solution.
TRON’s participation in the Chainlink Scale program will accelerate ecosystem growth and adoption by providing developers with sustainable access to… pic.twitter.com/aoRfSTbZxt
— TRON DAO (@trondao) October 31, 2024
At present, TRON’s price stands at $0.1691, reflecting a 0.91% increase in the last 24 hours. Market sentiment is currently bullish, with the Fear & Greed Index indicating “Greed” at a score of 69. TRON is also trading 23.99% above its 200-day simple moving average (SMA) of $0.1364, suggesting a positive trend.
6. FreeDum Fighters (DUM)
FreeDum Fighters is a new meme coin presale project drawing attention for its blend of political satire and high-yield opportunities. With over $363,000 raised in its ongoing presale, the project features a narrative where mechanized political characters like “Kamacop” and “Magatron” battle for dominance. This theme may appeal to politically aware audiences, especially with U.S. elections on the horizon.
The presale starts with a low entry price of $0.00006 per token, rising incrementally through stages. This tiered pricing model gives early participants a chance to buy tokens at a discount, potentially leading to profits if the token gains value upon listing.
One standout feature is the staking option, offering an annual percentage yield (APY) as high as 302.54%, depending on the staked character. This rate is notably high, likely attracting interest, though it carries inherent risk due to market volatility.
FreeDum Debate #1 🇺🇸
Prize: 10 Million $DUM distributed among the winning party.
Statement:
MAGATRON's hair is the pinnacle of American engineering. Just like McDonald's is the pinnacle of American cuisine.
MAGATRON is for this statement.
Kamacop 9000 is against it.
Let the… pic.twitter.com/rYoQVnLRDa
— FreeDum Fighters (@Freedum_Fighter) October 30, 2024
In addition to financial rewards, FreeDum Fighters includes community features like weekly debates and airdrops. These debates offer participants a chance to earn additional tokens based on discussion outcomes, providing a gamified experience that encourages ongoing engagement. Overall, FreeDum Fighters combines a unique, politically themed narrative with significant staking rewards and community features.
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