7 Best Altcoins to Invest in Right Now January 7 – STEPN, Optimism, Gala

adminJanuary 8, 2024

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Exploring tokens beyond Bitcoin opens up a world of diverse investment opportunities in the cryptocurrency world. As such, altcoins, which are alternative cryptocurrencies to Bitcoin, have attracted considerable attention.

However, choosing the best digital assets to maximize returns is important for investors looking to add these coins to their portfolio. Therefore, this article covers the best altcoins to consider for investment in the current market environment.

7 Best Altcoins to Invest in Right Now

The popularity of Ordinals has sparked significant interest in exploring Bitcoin-based solutions, expanding its utility beyond simple storage of value. This increased interest has led to Stacks emerging as a beneficiary due to its compatibility with Bitcoin. a significant surge However, this upward trend only hints at potential developments expected in 2024.

1. Phase (GMT)

Satoshi Lab’s projects achieved significant results in 2023 despite general market challenges. In particular, STEPN focused on wellness technology integrated with Apple Pay. In addition, we collaborated with Apple Music to infuse rhythmic elements into the user’s movements. Strategic partnerships with influencers enrich the user experience.

STEPN price chart

At the same time, MOOAR has simplified NFT creation within the NFT space with its Generative NFT tool. This makes it a leading marketplace for #Solana and #Polygon. GMT also saw impressive 24-hour trading volume following the launch of #MOOARBox and MOOAR+.

In the gaming space, STEPN launched GasHero on January 3, which showed promising trading volume on the Polygon blockchain. Financially, STEPN’s value has surged from its last cycle low to $0.438277, reflecting bullish price forecast sentiment.

Additionally, the fear and greed index recorded 71 (greed), indicating positive market sentiment. #STEPN, ranked 45th in the Ethereum (ERC20) token category, saw a 56% price increase compared to last year. It is also consistently trading above the 200-day simple moving average.

2. Toncoin (TON)

Ton Raffles recently pioneered a new fair launch method for selling $RAFF tokens within the TON blockchain, establishing a groundbreaking approach to the ecosystem. This method ensured equal opportunities for all participants. Therefore, we have created a level playing field from the token’s inception until it is listed on the DEX platform.

TON price chart

The successful hosting of this expo highlights the growing interest in TON-based projects. Additionally, Toncoin currently has a circulating supply of 3.46 billion TON, out of a maximum supply of 5 billion TON.

2023 was truly a groundbreaking year. #ton. We’ve broken world records, formed industry-changing partnerships, and brought together Web3’s best developers for gatherings around the world! 💎
Let’s take a quick look at some key moments🧵 pic.twitter.com/XxI7ht9OKZ
— TON 💎 (@ton_blockchain) January 5, 2024

In particular, the current annual supply inflation rate is 182.97%, creating 2.23 billion tons last year. In market rankings, Toncoin ranks 6th in the Proof-of-Stake coins category and 10th in the Layer 1 category. Key highlights include a modest 2% price increase over the past year. Additionally, the coin is consistently trading above the 200-day simple moving average.

3. GALA

GALA has exceeded growth expectations in 2023 and is preparing for further expansion. This makes it a strong competitor among mainstream game developers. The project’s emphasis on an ecosystem offering free-to-play AAA titles has been instrumental in attracting a growing user base.

GALA price chart

GALA currently has a circulating supply of 27.36 billion tokens out of a maximum supply of 50 billion GALA. In particular, the annual supply inflation rate was 292.17%, with 20.39 billion GALA tokens created over the past year. Over the past year, GALA’s price has increased by 8%. Likewise, it is trading above the 200-day simple moving average, indicating a favorable trading position.

Early Access Extract | Gala Games’ Final Expedition Play https://t.co/TonjbvbJU5
— Gala Games (@GoGalaGames) January 5, 2024

Additionally, the token shows high liquidity as evidenced by its market capitalization. Likewise, there is potential for significant price appreciation, with prices expected to reach 21 times higher than the previous high set in 2021. This growth trajectory is consistent with GALA’s ambition to solidify its presence within the gaming industry.

4. SPONGE V2 ($SPONGE V2)

that much Sponge V2 It has seen significant growth since its founding. The project began with a valuation of $1 million and reached a peak market capitalization of over $100 million in 2023. It currently has a valuation of $16 million and has amassed a community of over 11,500 holders.

Are you ready for us? #P2E game? 🤯
Have fun playing or betting with the free version $sponge Get a chance to win more tokens! 🎮🧽🧽
Stay tuned for more details. 🚀#web3 #Cryptocurrency #memecoin #how pic.twitter.com/GPGA24BRFI
— $SPONGE (@spongeoneth) January 6, 2024

The project’s roadmap outlines plans for listing on a native exchange, leveraging the support of a community of 30,000 members. These strategic developments aim to position the $SPONGE V2 project for potential growth. Therefore, it attracts the attention of potential investors and explores opportunities within the cryptocurrency market.

As well as, Sponge V2 Introducing the Stake-to-Bridge model. This model is designed to provide $SPONGE holders with a smooth transition to V2. Therefore, the project implements an incentive strategy and retains existing holders through a staking mechanism.

5. FLOW

Over the past year, Flow has seen its price rise by 13% and has consistently traded above its 200-day simple moving average. This performance indicates a relatively stable trajectory with positive results relative to the token sale price. Additionally, over the past 30 days, Flow has experienced 16 days of positive growth, accounting for 53% of those days.

FLOW price chart

Forecasts for Flow in 2024 show a potential peak price of $1.35. Additionally, the average valuation is around $1.20 and the minimum estimate is $1.16. This outlook is tilted towards a bullish trend.

🗓️ Only 20 days left until Flow 2024 Town Hall! 🎉
We’ll get updates on the entire ecosystem through demos and speakers. @doodles, @jacobmtucker, @heroesoftheflow, @Cryptoy& @evaluatexyz
👉 But who else would you like to hear from? Let us know in the comments below ⬇️ https://t.co/5yV0co1h9i
— Flow 🌊 (@flow_blockchain) January 4, 2024

However, this will depend on Flow’s ability to build strategic partnerships with influential industry investors and major blockchain networks. Collaborations of this nature can yield positive results for investors and make Flow an attractive investment option.

6. Uniswap (UNI)

Uniswap has seen notable price and market performance fluctuations over the past year. The token has experienced a 16% price increase over the past 12 months, trading above its 200-day simple moving average. It also shows a bullish trend with 15 green days out of the last 30 days, making up a 50% positive trend.

UNI price chart

The highest price UNI reached since its last cycle low was $9.74, a cycle high. Sentiment analysis of Uniswap’s current price prediction indicates a bullish outlook. This is consistent with the Fear and Greed Index of 71, which shows a greed period in market sentiment.

DeFi is global, and so is Uniswap.
The mobile app now supports seven languages, including Japanese, and more than 18 currencies. 🇯🇵
Download the Uniswap app now 🦄https://t.co/fHH6uqyD7p pic.twitter.com/H0O0K7Gz1N
— Uniswap Labs 🦄 (@Uniswap) January 5, 2024

Crypto analysts are also predicting a potential resurgence, predicting a retest of $8 by February 2024. UNI’s success and future growth will largely depend on the platform’s ability to remain innovative and adaptable within the DeFi sector.

7. Optimism (OP)

Optimism gained popularity recently with its inclusion in Coinbase’s futures trading platform. This move sparked interest and set the stage for a potentially significant price move.

According to forecasts, the Optimism (OP) price range will be between $3.20 and $4.53 throughout 2024. Moreover, the coin’s trajectory is supported by a burgeoning community and expanding user base. This suggests the potential for significant appreciation in value next year.

ON price chart

Analysts also expect a potential 20% spike. This will depend on the market’s reaction to recent developments, particularly Coinbase’s entry into futures trading for this cryptocurrency. Our assessment of the sentiment surrounding Optimism’s price predictions leans toward a bullish outlook. Meanwhile, the Fear & Greed Index currently stands at 71 (Greed).

Additionally, trading activity shows a sustained upward trend above the 200-day simple moving average. Additionally, the coin has observed 16 positive trading days (53%) out of the last 30 days, highlighting its frequent bullish pattern.