5 Best Altcoins to Invest in Right Now January 13 – Sui, Tribe, aelf

adminJanuary 14, 2024

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Investors are constantly looking for promising alternatives to more established digital currencies. As such, altcoins are gaining attention and presenting unique investment opportunities. However, the dynamics of the cryptocurrency market require investors to stay informed about the best tokens to consider. Therefore, Insidebitcoins curates the best altcoins to invest in, giving you a comprehensive overview of the most promising digital assets.

5 Best Altcoins to Invest in Right Now

First day of Spot launch Bitcoin ETF Trading, Bitwise Asset Management surpassed its competitors by recording the highest inflow among the 11 products launched. The San Francisco-based cryptocurrency index fund manager recorded inflows of $237.9 million within 24 hours of Securities and Exchange Commission approval. These contributions account for a significant portion of the total inflows of approximately $721 million across all issuers.

1. Tron (TRX)

TRON recently signed a strategic partnership with industry leader Blockchain.com. This partnership aims to increase the efficiency of cryptocurrency trading and improve user experience on the TRON network. Additionally, through this collaboration, we are working to make TRON (TRX) more accessible and expandable in the long term.

The announcement caused TRON’s value to surge by 5.14%, maintaining the coin’s positive trajectory. Therefore, analysts are optimistic about a rebound in TRON’s growth potential in 2024. Experts also predict that TRON’s value will increase significantly by 72.5% in 2023, based on an impressive growth of 94.5%. TRX could reach $0.187 and even $0.2 in continued bullish market conditions.

Tron price chart

Assessing liquidity through the ratio of trading volume to market capitalization, TRON appears to be solid with a ratio of 0.0927. The current market capitalization is $10.45 billion and the 24-hour trading volume is $968.78 million.

Regarding token circulation, over 93% of TRON’s total supply is actively in circulation, reflecting the relatively low level of dormant tokens. Additionally, TRON is actively traded on 15 popular exchanges, including Binance, KuCoin, and Kraken, confirming its presence on a trustworthy platform.

$TRX, #tron The network’s native utility token is launched on Brazil’s largest cryptocurrency exchange. @MercadoBitcoin! 🇧🇷
We are excited to play a role in its development. #blockchain We remain committed to our mission to leverage technology in Brazil and make the network accessible to all 8 billion people around the world… pic.twitter.com/kmr25JnJiY
— Tron Dao (@trondao) January 11, 2024

Additionally, if the recent collaboration with Blockchain.com is successful, there could be a surge in investors acquiring and holding TRX tokens. Therefore, these factors have a positive impact on the price of TRON and position the project as one of the top 10 cryptocurrencies worldwide.

2. TRIBE

Tribe shows a positive price forecast trend consistent with a Fear and Greed Index score of 64. This indicates ‘greed’ sentiment and indicates investor interest in the token. Additionally, Tribe’s circulating supply is 533.29 million TRIBE out of a maximum of 1 billion TRIBE.

Over the past year, annual supply inflation was 17.61%, generating 79.84 million TRIBE. Additionally, Tribe ranks 63rd among Ethereum (ERC20) tokens by market capitalization.

TRIBE price chart

Additionally, Tribe has seen an impressive price increase of 119% over the past year, outperforming 72% of the top 100 cryptocurrency assets. It is trading above the 200-day simple moving average, indicating positive market conditions.

Tribe, a leading digital asset, has been gaining attention in the cryptocurrency market thanks to its strong fundamentals and active community. Therefore, with potential collaborations with other networks, the price of TRIBE is expected to surpass $0.67 by 2024.

3. SPONGE V2 ($SPONGE V2)

Sponge V2 Despite evolving from the $SPONGE meme coin, it received market attention. The market capitalization of the token increased significantly from $1 million to over $100 million. Sponge V2 has a strong market presence, with a market capitalization of $16 million and a significant holder base exceeding 11,500.

📢Daily staking updates!
Today, a whopping 4,705,172,778 people $sponge Tokens are staked and have a total value of $3,944,150.86! 🤯
Plus, our holders enjoy an impressive 343% APY.
Don’t miss out on these amazing rewards! 🧽🧽🧽#AltSeason #SpongeV2 #Cryptocurrency pic.twitter.com/b4i7vD0uTY
— $SPONGE (@spongeoneth) January 12, 2024

The project also introduces a strategic Stake-to-Bridge model. This will allow existing $SPONGE holders to stake their V1 tokens to seamlessly transition to V2, demonstrating their commitment to investor loyalty. Additionally, staked V1 tokens are set to earn a minimum APY of 40% over 4 years. This highlights the project’s commitment to fostering long-term engagement.

A standout feature of Sponge V2 is the introduction of Play-to-Earn (P2E) games. This feature offers free and premium versions where players can earn V2 tokens. Meanwhile, SPONGE’s innovative approach is consistent with the project’s goals of strengthening user engagement and encouraging community participation.

Additionally, a total of 150 billion token supply will be strategically allocated to support ecosystem development. This includes a significant portion for staking rewards (43.09%) and P2E games (8%).

This therefore highlights Sponge V2’s focus on fostering community engagement and user incentives. Looking ahead, Sponge V2 We aim to be listed on major exchanges. However, the move is backed by a strong community of 30,000 members, indicating growth potential.

4. ELF

ChainsAtlas, a blockchain technology provider, has partnered with AELF, a scalable blockchain company, to enhance the capabilities of the aelf blockchain. This collaboration focuses on integrating ChainsAtlas’ virtualization technology to seamlessly move decentralized apps (DAPPs) from various blockchains to ELF. This is achieved regardless of the DAPP’s smart contract details.

The deal also includes ChainsAtlas’ Virtualization Units (VUs). This tool helps the aelf blockchain support Ethereum Virtual Machine (EVM) and non-EVM digital assets. It also aims to build a strong foundation for cross-chain interoperability. Creating this foundation will help improve the flow of data and assets between ELF and other blockchains.

elf price chart

Through their partnership, ChainsAtlas and aelf aim to build a transport mechanism through which aelf can execute smart contracts. This move is expected to expand the scope of digital assets on the Elf blockchain and encourage greater participation in the Web3 community.

Additionally, this collaboration enhances the aelf blockchain, making it more versatile for distributing various DAPPs and games. It is also likely to attract developers with different levels of coding experience to contribute to the AELF blockchain.

In the bigger picture, AElf is positioned for growth by providing a strong foundation and dedicated cryptocurrency community support. Additionally, the potential maximum price of ELF coins through collaboration is expected to reach $0.77 by 2024.

5. Sui (SUI)

SUI, the native token of the Sui blockchain, has witnessed a huge leap in value. In just four days, the token surged from $0.79 to $1.33, an incredible 50% increase. This bullish momentum continued as the token recorded a sharp rise of 21% in the last 24 hours alone.

Moreover, the surge in value of SUI is accompanied by a significant increase in trading volume. Therefore, this signals a significant influx of funds from high-profile investors anticipating future growth.

SUI price chart

Meanwhile, a breakout of $1, aided by solid volume, strengthens the credibility of the breakout. Likewise, this suggests a potential stabilization at these elevated price levels. SUI’s price trajectory reflects a rally, with a potential target of reaching the $2 level soon. Therefore, if the current momentum is maintained, the $5 resistance level could be broken.

Okay, we said TVL was over $250M, but actually… We meant TVL passed $275,000,000 😉
Another big milestone for Sui was achieved in less than 24 hours💪 pic.twitter.com/Qiug5x2j1b
— Sui (@SuiNetwork) January 12, 2024

Moreover, price stability above the 50-day exponential moving average (EMA) indicates continued buyer interest and suggests further upside potential. In any downtrend, EMA is expected to provide strong support, ensuring continuity of the prevailing bullish trend.