Blockchain

7 Best Altcoins to Invest in Right Now December 1 – Immutable, The Graph, Internet Computer

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The current state of the cryptocurrency market shows notable movements over the last 24 hours. The total market capitalization was $1.47 trillion, an increase of 2.01% during this period. Accordingly, 24 hours trading volume Cryptocurrencies totaled $166.67 billion, representing a significant increase of 17.13%.

The current value of Bitcoin is $38,752, with an increase of 2.47% over the past day. Additionally, Bitcoin’s market dominance rose slightly by 0.21% to 51.34%.

7 Best Altcoins to Invest in Right Now

These indicators highlight recent movements in the market, representing fluctuations in the overall market value and performance of individual cryptocurrencies, particularly notable movements in Bitcoin and their impact on broader market trends.

1. Immutable (IMX)

Immutable This impressive growth puts it in a good position, outperforming 86% of the top 100 cryptocurrency assets over the same period.

IMX price chartIMX price chart

One of the key indicators of the current market position is its status trading above the 200-day simple moving average, which indicates a positive trend. Additionally, it has consistently shown an upward trajectory relative to the token sale price, reflecting favorable performance indicators.

Looking at recent trading patterns, Immutable X has recorded 19 positive trading days out of the last 30, giving it a success rate of 63%. Additionally, it boasts high liquidity based on its significant market capitalization.

2. Graph (GRT)

GRT token has recently experienced price fluctuations, which indicates potential changes. After failing to break the $0.1700 resistance, a double top pattern emerged, attracting the attention of sellers and triggering profit-taking among buyers. This brought it back to the $0.1400 mark. However, the token price is still above the key moving averages and close to a neutral stance.

GRT price chart GRT price chart

A recent retracement that remains above the 50% Fibonacci retracement zone suggests a healthy correction. A stay above the 20-day EMA could signal a recovery and potentially lead to a retest of the highs of $0.1800 and a move up to $0.2000.

There are expectations that if the $0.1600 hurdle is overcome, the GRT token could rise to levels exceeding $0.2000 in the coming months. A highlight of the token’s recent performance is its price increase of 133% over the past year.

Therefore, it outperformed 81% of the top 100 cryptocurrencies during that period. It also shows resilience against Bitcoin and Ethereum, consistently trading above its 200-day simple moving average. Additionally, observing 15 positive trading days out of the last 30 days suggests relatively balanced market sentiment.

3. Stack (STX)

Stacks (STX), a layer 1 cryptocurrency, has experienced significant price fluctuations over the past year. During this period, its price soared 192%, outperforming 88% of the top 100 cryptocurrency assets. In particular, it surpassed the performance of major cryptocurrencies such as Bitcoin and Ethereum.

STX price chart STX price chart

From a technical perspective, Stacks is trading above its 200-day simple moving average, indicating a positive trend. In the past 30 days, Green Day was the 16th, accounting for 53% of the total, indicating a favorable market atmosphere.

Regarding supply metrics, Stacks currently has a circulating supply of 1.42 billion STX out of a maximum supply of 1.82 billion STX. Sentiment regarding the price forecast is currently bullish. Therefore, it is consistent with the fear-greed index of 71, which indicates the state of greed in the market.

4. Internet Computer (ICP)

Internet Computer (ICP) has seen significant price fluctuations over the past year. The price is $4.76 and is up 6.22% in the last 24 hours. For comparison, the highest price was $497.71 on May 10, 2021 and the lowest price was $2.86 on September 22, 2023.

ICP price chartICP price chart

Over the past year, ICP’s price has risen 14%, outperforming 52% of the top 100 cryptocurrency assets. It has consistently traded above its 200-day moving average and has seen positive growth in token sale prices. In particular, 16 of the last 30 days showed positive growth, accounting for 53% of the total period.

General sentiment toward Internet computing is optimistic, reflected in the Fear and Greed Index score of 71 (Greed). Located near the cycle high, ICP boasts high liquidity with a market capitalization of $2.14 billion, securing the 20th position in the Layer 1 sector.

5. Arweave (AR)

As a layer 1 project, Arweave currently shows several key indicators of its performance in the market. The current value is $8.62, with a 24-hour trading volume of $44.29M. This reflects a market capitalization of $564.04 million and a market power of 0.04%.

AR price chartAR price chart

What is noteworthy is that it is trading above the 200-day simple moving average, suggesting a continued upward trend. Additionally, compared to the initial token sale price, Arweave shows positive performance.

Over the past 30 days, Arweave has experienced 16 days of positive growth, accounting for 53% of that period, indicating a consistent positive trajectory. Additionally, as evidenced by its market capitalization, it maintains high liquidity.

Looking at supply dynamics, Arweave’s current circulating supply is 65.45M AR, out of a maximum supply of 66.00M AR. The project has experienced an annual supply inflation rate of 96.00% and generated AR 32.06 million over the past year.

In the broader market context, Arweave ranks 43rd in the Layer 1 category. Sentiment on the current price forecast leans towards bullish, in line with the Fear and Greed Index, which displays a score of 71, indicating ‘greed’.

6. Launchpad XYZ(LPX)

Launchpad XYZ A platform designed to improve decision-making in Web 3.0 investments. It aims to achieve this by providing users with a comprehensive dashboard with detailed cryptocurrency data. Our primary goal is to provide users with the information they need to make informed investment choices.

One notable aspect of Launchpad XYZ is that it aggregates market sentiment from influential cryptocurrency investors and analysts. This feature provides insight into where key players are directing their investments, potentially guiding users’ decision-making process. The platform also aims to promote user education, encouraging independent trading decisions rather than relying solely on third-party information.

default token within Launchpad XYZ LPX, as an ecosystem, serves many purposes beyond simply providing exposure to project growth. Users who have staked at least 10,000 LPX tokens will have access to premium features, including reduced trading fees on the Launchpad XYZ decentralized exchange.

Visit Launchpad XYZ.

7. Avalanche (AVAX)

The Avalanche ecosystem has seen significant growth and development recently, particularly through collaborations with major financial institutions such as JP Morgan and Citi. These partnerships have contributed to increased activity within the ecosystem, with a focus on tokenizing real-world assets.

AVAX price chart AVAX price chart

As interest in ASC-20 mining activities has increased, there has been a noticeable surge in bridge inflows into avalanches. The network has also seen a notable increase in transaction volume, reflecting the increased demand for these activities.

Avalanche’s price has been trending upward since announcing partnerships with JP Morgan and Citi. Both institutions are leveraging Avalanche’s technology to explore tokenization of real-world assets, indicating confidence in the platform’s capabilities.

Last July, the Avalanche Foundation unveiled the Avalanche Vista initiative, allocating $50 million to support tokenization of real-world assets. At the time of reporting, AVAX was trading at $22.26 with a daily price gain of 5.31%, indicating positive market performance.

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