Crypto Gloom

Best Cryptocurrencies to Buy Now February 21 – Render, Chiliz, Hedera

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By Crypto Gloom

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InsideBitcoins regularly provides summaries of: Best Cryptocurrencies to Buy NowConsider recent price/performance ratio.

As the bull market gains momentum, altcoins are on the rise and surpassing previous levels. In this article, we analyze standout cryptocurrencies that have garnered attention for their unique features and growth prospects. Each offers a distinct value proposition, from Render’s pioneering cloud computing solutions to Chiliz’s sports industry integration and Hedera’s advanced distributed ledger technology.

Best Cryptocurrencies to Buy Now

Bitcoin It briefly surged past $52,000, reclaiming its $1 trillion market capitalization. Meanwhile, RNDR showed tremendous growth, surging more than 23% to around $6.15. MATIC Coin has maintained steady growth despite the lukewarm response to the ZK Network announcement. Additionally, Chiliz recently formed a partnership with the K League, highlighting the convergence of sports and blockchain technology.

1. Rendering (RNDR)

Render (RNDR) is a distributed GPU rendering network on the Ethereum blockchain. The main goal is to facilitate connections between artists and studios looking for GPU computing power and mining partners looking to rent GPU capabilities. In this network, artists obtain GPU computing power from providers using RNDR tokens, an ERC-20 utility token.

To ensure fair transactions, RNDR uses a rendering proof system. This confirms that all art has been successfully rendered before payment is made and the art is released. The system also utilizes manual and automated processes to hash assets upon upload and send them to nodes for rendering.

Moreover, the price of RNDR has shown notable growth, increasing by more than 23%, trading at around $6.15 at the time of this writing. This trend continues RNDR’s solid upward trajectory, providing investors with returns of over 200% year to date.

RNDR price chartRNDR price chart

Additionally, the price of RNDR rose 2.83% in 24 hours, reaching $6.22. Moreover, it is currently trading above the 200-day simple moving average. Render has experienced 19 green days out of the last 30 days, representing a positive performance of 63%.

Looking at its performance over the past year, RNDR has seen an impressive price increase of 246%, outperforming 89% of the top 100 crypto assets in terms of growth. These gains imply improved sentiment for the project and favorable technology alignment. RNDR could see potential for further upside, especially if it surpasses its all-time high of $7 in the next few days.

2. Polygon (MATIC)

Polygon introduces a systematic and user-friendly approach to blockchain scaling. At its core is the Polygon SDK, a flexible framework that supports a variety of application types. Polygon allows developers to create optimistic ZK rollup chains, standalone chains, or other necessary infrastructure, effectively advancing Ethereum into a multi-chain system.

The system leverages Ethereum’s security and robust ecosystem while improving scalability and transaction speeds. Operating as a layer 2 scaling solution, Polygon does not aim to overhaul Ethereum’s underlying blockchain layer. Instead, it focuses on simplifying scalability and facilitating instantaneous blockchain transactions.

MATIC price chart MATIC price chart

MATIC operates as an ERC-20 token on the Ethereum blockchain. It acts as a medium for payment services within the Polygon ecosystem and facilitates user payments. Transaction fees on the Polygon sidechain are also denominated in MATIC tokens.

MATIC Coin has shown steady growth despite the lukewarm response to the ZK Network announcement compared to competitors’ testnet launches. Recently, its value surpassed $1 thanks to continued investor optimism. MATIC’s recent rally breaking long-standing resistance levels was noted as reflected in the weekly rise in the Relative Strength Index (RSI).

In collaboration with Animoca Brands and The Human Institute, Polygon has released the Humanity protocol in its Chain Development Kit (CDK). This protocol integrates palm recognition technology to reimagine identity verification in Web3 applications. By providing a user-centric approach and addressing concerns about invasive verification methods such as iris scanning, the initiative aims to build proof of humanity on the Polygon chain.

3. Ituk Tuk (TUK)

Ituktuk The sustainable transportation project attracted significant investor interest and secured more than $1.2 million in funding. The project’s native TUK token is poised for potential growth when it is listed on exchanges later this year.

Additionally, eTukTuk operates on the BNB chain and Cardano, with the goal of promoting inclusivity and cross-chain interoperability. This strategy is expected to drive rapid expansion, impacting sustainability and financial inclusion in developing countries.

This project integrates AI and blockchain technologies to improve urban mobility. It also alleviates traffic congestion through AI-based route optimization and implements smart infrastructure for intelligent transportation systems. TUK tokens support these technological advancements and align with environmental goals by funding green transportation research and encouraging community participation.

furthermore, Ituktuk‘s electric tuk-tuk models are designed to be cost-effective and efficient. It aims to replace more than 270 million existing combustion engine tuk-tuks worldwide. The project’s strategy is to reduce carbon emissions, address CO2-related health issues and promote financial inclusion.

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4. Chiliz (CHZ)

Chiliz is a digital currency for sports and entertainment enthusiasts operated by a Malta-based fintech provider. The platform, Socios, leverages blockchain technology to engage users in managing their favorite sports brands. Socios allows fans to earn Fan Tokens using native CHZ tokens to represent their affiliation with a specific sports club or association.

CHZ price chart CHZ price chart

Additionally, these Fan Tokens will allow fans to participate in club decisions through a voting mechanism facilitated through smart contracts. CHZ has demonstrated its resilience and growth potential in the market recently, despite a 15% decline in price over the past year.

The token has surged 18.61% in value over the past seven days, indicating growing interest from investors. The token is also trading well above its 200-day simple moving average (SMA) and slightly below its cycle high. Additionally, high liquidity, reflected by the trading volume to market capitalization ratio of 0.2945, provides favorable conditions for trading.

Chiliz is strengthening its position in the sports industry by establishing partnerships with famous sports organizations such as FC Barcelona and Manchester City. The recent collaboration with the K-League further highlights the intersection of sports and blockchain technology, presenting an optimistic outlook for CHZ and similar projects.

5. Ivy (HBAR)

Hedera is an important token in the decentralized economy. It aims to provide a fairer and more efficient system by solving problems with existing blockchain platforms such as slow speed and instability. HBAR serves two purposes: powering services such as smart contracts and securing the network through staking.

Hedera’s performance metrics are impressive. Transactions on the network cost only $0.0001 on average and are completed in less than 5 seconds. This is slow and expensive, unlike transactions elsewhere.

HBAR price chart HBAR price chart

Additionally, HBAR’s price surge, which rose 27.22% last week, is consistent with trends in the altcoin market. Moreover, market sentiment towards Hedera appears positive, supporting its strong performance compared to other cryptocurrency assets. Additionally, the token’s Fear and Greed Index reading is 78, indicating high investor confidence.

Trading activity indicates a positive trend, with HBAR consistently trading above its 200-day simple moving average. Hedera also stands out in these segments of the cryptocurrency market, ranking 12th in the Proof-of-Stake coins category and 28th in the Layer 1 category.

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