Crypto Gloom

7 Best Altcoins to Invest in Right Now January 29 – Osmosis, IOTA, Mina

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By Crypto Gloom

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As the market approaches a bull market, the attractiveness of altcoins has increased dramatically, capturing the hearts of investors looking for ways to generate profits. In this article, we have selected the best altcoins that are redefining the future of decentralized finance (DeFi) and promise profitable opportunities for investors.

7 Best Altcoins to Invest in Right Now

Several altcoins are adopting strategies and forming partnerships to increase their reach and investor returns. Osmosis collaborated with Shido to pioneer the first DEX marketplace pair for the Shido Network. Meanwhile, investors are bullish on Monero. green candle that lasts. Moreover, the price of Mina has risen due to increased buying activity, which indicates an upward trend in the coming weeks.

1. Osmosis (OSMO)

Osmosis has partnered with Shido to pioneer the first DEX marketplace pair for the Shido Network. Once mainnet is launched, the native coin, SHIDO, will be traded via the SHIDO/USDC market pair on Osmosis DEX. Shido also plans to inject an additional $1 million into a new liquidity pool to encourage liquidity provision.

OSMO price chart OSMO price chart

Additionally, Osmosis is experiencing a surge in trading volume, indicating growing interest in the Cosmos ecosystem. This surge has brought Osmosis to the incredible milestone of 1.1 million active addresses since its inception. Likewise, Osmosis’ revenue generation was exceptional in the fourth quarter.

Meanwhile, the growing number of participants in Osmosis trading activity suggests a buzz in the building. However, Osmosis faces the challenge of maintaining this growth and differentiating itself in the crowded DEX market. Osmosis must continue to push boundaries and innovate within its ecosystem to stay ahead.

2. SPONGE V2 ($SPONGE V2)

Cryptocurrency market ends in a frenzy Sponge V2, It is an upgraded version of Sponge V1. Sponge V2 has become a top cryptocurrency gainer able to capitalize on the bullish trend. It has also been significantly improved by incorporating Play-to-Earn (P2E) functionality.

Sponge is also holding a pre-sale for Sponge V2 to attract users with exclusive bonuses and implementing an automatic staking system. This strategic move aims to engage existing users and actively attract new participants.

Moreover, with a valuation of $1 million. Sponge V2 We have achieved remarkable growth. Meanwhile, its market capitalization peaked at over $100 million in 2023 before stabilizing at $16 million. This journey highlights Sponge’s resilience and promising future in the evolving cryptocurrency landscape.

3. Monero (XMR)

The trading session shows bullish sentiment surrounding Monero despite the neutral Fear and Greed Index at 54. Over the past 30 days, Monero has been trading above its 200-day SMA. She also recorded 16 positive trading days, equivalent to 53% of the observation period. Additionally, Monero boasts high liquidity due to its market capitalization and availability on Binance.

XMR price chartXMR price chart

Additionally, Monero’s current circulating supply is 18.39 million XMR out of a maximum of 18.2 million XMR. With this supply, XMR’s annual supply inflation rate is 1.02%. Moreover, the privacy-focused, decentralized nature of the Monero network continues to attract attention, with predictions suggesting significant value growth on the horizon.

Therefore, according to forecasts, the maximum price of XMR by the end of 2024 will be $306.55. Likewise, if the market remains stable and the bullish trend continues, the average transaction price is expected to be around $286.42.

4. Huobi Token (HT)

As the market approaches a bull market, Huobi Token (HT) is gaining attention for its solid foundation and loyal community. HT shows promising signs, including trading above its 200-day SMA and recording 15 positive days in the past month. However, with the Fear & Greed Index at 55 (greed), investors are cautiously anticipating HT’s future.

HT price chart HT price chart

Additionally, HT boasts a circulating supply of 162.23 million tokens out of a maximum of 500 million tokens, with an annual inflation rate of 5.79%. Likewise, by market capitalization, it ranks 13th among Exchange tokens, 37th among Ethereum tokens, and 50th among Layer 1 tokens.

HT, which is also traded on KuCoin, shows growth potential, especially through partnerships with other networks. Therefore, analysts predict that this collaboration could allow HT to surpass $16.43 by 2024. In a positive market scenario, the average price could remain around $14.88 through the same year.

These predictions are therefore supported by HT’s strong guiding principles and committed community. As market trends progress, HT remains a token with promising growth opportunities.

5. IOTA

IOTA’s founder recently announced some big changes to the token. One of the major updates is the scheduled release of the IOTA EVM (Ethereum Virtual Machine) on March 31, 2024. This new addition brings smart contract functionality and dApp support to the Shimmer network.

IOTA price chartIOTA price chart

Additionally, the addition of the IOTA EVM means more possibilities for developers. They can use IOTA’s fee-free data transactions and strong security to create new kinds of apps such as finance, unique digital items, and supply chain management.

Therefore, this move demonstrates IOTA’s commitment to innovation in the blockchain world. It also establishes IOTA as a strong competitor in the cryptocurrency space, ready to capitalize on new opportunities. Through smart contracts, IOTA aims to become more versatile and competitive in the blockchain industry.

6. Mine (mine)

Recent analysis shows that Mina is in a bullish pattern, suggesting potential upward momentum. Mina is nearing an uptrend, suggesting increased buying activity and an upward trend in the coming weeks.

MINA price chartMINA price chart

Therefore, investors are optimistic that Mina can reach $1.81 by the end of 2024. In the same vein, MINA’s maximum price prediction by the end of 2024 is estimated to reach $2.75. However, this price may vary depending on market conditions remaining stable and a continued bullish trend.

Key technical indicators MACD and Relative Strength Index (RSI) validate the bullish sentiment surrounding Mina’s price trend. MINA broke the $0.95 resistance level last week and surged to $1.19, solidifying its position as an attractive investment option.

7. KuCoin Token (KCS)

Market analysis indicates a green candle for the KuCoin token as evidenced by the Fear and Greed Index of 55. Over the past year, KuCoin tokens have recorded a price increase of 23%, surpassing 54 of the top 100 tokens. Trading activity has consistently kept the KuCoin token above its 200-day SMA, showing positive performance relative to the initial token sale price.

KCS price chartKCS price chart

Additionally, the circulating volume of KCS is 80.12 million KCS out of the maximum 171.25 million KCS. It is also currently ranked 8th in the exchange token category and 22nd in the Ethereum (ERC20) token category. Additionally, KuCoin token’s strong foundation and dedicated community support support its growth.

Therefore, analysts predict that the price of KCS coin is likely to exceed $23.34 by 2024. However, this will depend on the project announcing collaborations with other networks. In a bullish market scenario, the average price of KuCoin tokens is expected to stabilize at around $21.14 by 2024.

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