5 Best Altcoins to Invest in Right Now April 6 – NEAR Protocol, ORDI, Injective

adminApril 7, 2024

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The Bitcoin halving event is approaching soon, as evidenced by fluctuating market performance. Historical data shows that market capitalization and trading volume typically decrease during halving events.

Nonetheless, smart investors are taking advantage of these downturns to look for altcoins with promising upside. This search aims to take advantage of the altcoin season following the Bitcoin halving. InsideBitcoins provides additional insight by identifying altcoins worth considering for investors.

5 Best Altcoins to Invest in Right Now

Investors are focusing on tokens like NEAR Protocol, ORDI, and Injective, seeing them as promising investment opportunities amid expectations of the next bull market cycle. This heightened interest will increase investor confidence, leading them to re-evaluate and optimize their investment portfolios.

At the same time, Bitcoin Minetrix attracted significant market interest, raising over $12.9 million in funding during the pre-sale period. but, Bitcoin is experiencing The decline follows better-than-expected U.S. employment growth in March.

1. NEAR Protocol (NEAR)

NEAR Protocol has seen reduced price fluctuations over the past week, with a slight 8% decline. But when you zoom in, performance over a broader period shows notable growth. NEAR has surged over 50% on a month-to-month basis and has gained over 500% over the past six months.

price chart near you

Moreover, NEAR is hovering between $6.74 and $7.98, with the stock trading at $7.09 in the last intraday session. The price soared 254% YTD, signaling a continued upward trend. Moreover, NEAR is trading above its 200-day simple moving average, indicating positive momentum.

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— NEAR Protocol (@NEARProtocol) April 3, 2024

Looking at recent trends, NEAR could target the nearest resistance level of $8.67 if momentum continues to build. However, a huge hurdle lies ahead at the second resistance level at $9.91. Conversely, downside protection can be found at $6.18, with stronger support around $4.93. NEAR’s trajectory will vary greatly depending on market sentiment and adoption progress. Continued growth is expected, with 16 of the last 30 days being green.

2. ORDI

Coinbase’s institutional customer-facing subsidiary disclosed plans on April 11 to list perpetual futures contracts for BRC-20 tokens Ordinals and Worldcoin. In an announcement on April 5, Coinbase International Exchange declared that it would list perpetual futures products for ORDI and WLD as follows: April 11th at the earliest. Therefore, these futures will be available to institutional investors on Coinbase International and Coinbase Advanced.

The introduction of perpetual futures contracts for ORDI and WLD reflects the platform’s commitment to providing diverse investment opportunities to institutional players. Additionally, these developments expand the range of financial products available and reflect the maturity of the cryptocurrency derivatives market.

Ordi price chart

In response to this news, ORDI saw a northward move, rising 9.65% to $64.99 in the last intraday session. Trading near the cycle high of $66.70, ORDI coin is trading 383.02% above its 200-day SMA of $13.55, indicating a strong bullish trend.

Additionally, according to recent market trends, ORDI has enjoyed a series of positive trading sessions, including green candlesticks on the 15/30th. The overall market sentiment is positive and the greed score is 75, indicating that greed is rampant among market participants.

3. Bitcoin Minetrix (BTCMTX)

Bitcoin Minetrix The market entry seeks to address challenges within the Bitcoin cloud mining sector. We leverage smart contracts on the Ethereum network by introducing an innovative Stake-to-Mine mechanism. This groundbreaking approach allows users to stake and burn tokens to mine hashpower, addressing the sector’s notorious fraud and instability issues.

Moreover, the project has received significant attention, currently securing over $12.9 million in the pre-sale phase. Bitcoin Minetrix, with a total stake of 765,244,774 BTCMTX tokens, offers an estimated annual reward rate of 55% at 158.5 per ETH block.

As Bitcoin Minetrix’s pre-sale phase 35 begins, investors have a strategic four-day window until the expected price increase. This provides an opportunity to take advantage of the current token price of $0.0145 before any potential upside.

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— Bitcoin Minetrix (@bitcoinminetrix) April 5, 2024

Investors seeking a reliable and innovative cloud mining approach will be attracted to: Bitcoin Minetrix And it offers a Stake-to-Mine mechanism. With impressive funding and a promising reward structure, the project aims to revolutionize and strengthen the cloud mining sector.

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4. Injection (INJ)

Injective recently launched its latest upgrade, Injective Bridge Ionic, which aims to add notable improvements to the DeFi space. This upgrade provides improved functionality and a smoother user experience. It also represents a significant step forward in improving interoperability within the cryptocurrency space.

Additionally, INJ’s market performance reacted positively to the news, leading to increased fanfare. Injection trading increased 10.10% over the last 24 hours to $34.72. Meanwhile, investors are optimistic about INJ with increasing market greed.

INJ price chart

Injective is currently trading at $11.02, 214.33% above its 200-day simple moving average. Over the past year, it has shown remarkable growth, with its price soaring by 503%. This performance outperforms 88% of the top 100 cryptocurrency assets, including major players such as Bitcoin and Ethereum.

1/ Injective Bridge’s Ionic upgrade unveils the most advanced interoperability solution in cryptocurrency.
Choose from over 16 chains to seamlessly connect to Injective. @Ethereum, @Solana and @CosmosConsolidates the largest chains in the industry.
— Injection 🥷 (@injective) April 5, 2024

One of Injective’s main strengths lies in its high liquidity, aided by its strong market capitalization. This positive liquidity profile is further reflected in the token sale price/performance ratio.

In summary, the Injective Bridge Ionic upgrade further solidifies Injective’s position as a leader in the DeFi space. With a sustained growth trajectory and strong market fundamentals, Injective remains a promising investment opportunity.

5. Theta Network (THETA)

Theta token is on an upward trend and is currently considered by investors as one of the best altcoins to invest in. In the last intraday session, THETA was trading at $2.67, up 5.88%. The token is positioned 100.79% above its 200-day simple moving average as its positive performance further reflects its potential.

Theta token has shown solid growth over the past year, outperforming Bitcoin and Ethereum. Despite the recent downturn, compelling signs point to a significant turnaround for the Theta token. Analysts point to a potential golden crossover on the weekly charts, which indicates a potential long-term trend reversal. This gives Theta tokens access to the 200-week exponential moving average (EMA) with the prospect of a golden crossover strengthening investor confidence.

THETA price chart

Moreover, with Bitcoin halving this month, the price of Theta token is expected to rise further, potentially reaching $5.28 at the 38.20% Fibonacci level. Likewise, the growing bullish sentiment presents an interesting opportunity for THETA traders and investors to monitor closely.

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Theta token is poised for a potential upside, driven by strong technical indicators and positive market sentiment. However, investors should track developments over the coming weeks before making a decision.