Blockchain

7 Best Altcoins to Invest in Right Now March 16 – Jupiter, Conflux, BNB

adminMarch 17, 2024

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Bitcoin’s positive outlook has caused a surge in the entire cryptocurrency market. This increase reflects investor confidence in exploring promising tokens with potential upside amid expected strength. As such, altcoins are increasingly attracting investors looking for a variety of entry points.

Nonetheless, choosing the right altcoin requires dedicated effort and thorough research. This article aims to simplify this process by highlighting a few notable altcoins worth considering investing in.

7 Best Altcoins to Invest in Right Now

Bitcoin sold off overnight, falling below $70,000., Jupiter, Conflux, and BNB are gaining attention as promising options for investors in the upcoming alt season. A surge in interest in altcoins will restore investor confidence, leading them to actively re-evaluate and adjust their portfolios.

1. Jupiter (JUP)

On a monthly basis, JUP surged more than 183%, aiming to hit its initial value of $2. This remarkable growth is due to the Jupiter team’s efforts to strengthen and diversify the capabilities of the Jupiter ecosystem.

JUP price chart JUP price chart

Additionally, Jupiter’s recent increase in trading volume has also boosted the token. Jup hit ATH after rising 127.79% in the last 24 hours with over $1.2 billion trading volume. This rapid increase in trading activity means increased market participation and increased buying pressure. Analysis of on-chain data reveals a consistent upward trend, indicating growing investor confidence in the Jupiter platform.

Additionally, since the beginning of the month, Jupiter has facilitated a total of 29.6 billion transactions and processed 41.8 million transactions from 1.5 million individual wallets. This steady growth trajectory highlights Jupiter’s growing importance and usefulness in the cryptocurrency space. It also positions itself as an attractive competitor for investors seeking sustainable growth opportunities.

2. Phantom (FTM)

Phantom’s recent market movements are heading north, showing notable growth. In just two days, FTM’s value saw a notable increase, surging by more than 33%. After falling slightly from the $1 level, it’s hovering around $0.96, with an impressive 22% gain in the last day alone.

However, this surge is not an isolated event but part of an ongoing market rally. In the past year, Phantom’s price has surged 92%, outperforming 54% of the top 100 cryptocurrency assets. Likewise, FTM has been consistently trading above its 200-day SMA (currently $0.406480), registering a significant increase of 117.49%.

FTM price chart FTM price chart

One of the key drivers behind Fantom’s recent surge has been the decline in FTM supply on cryptocurrency exchanges since March. The decrease in FTM tokens held on exchanges and the price jump from $0.50 to $0.82 indicate that assets have moved to private wallets.

Moreover, Phantom has shown positive performance relative to its token sale price, indicating promising prospects for its long-term trajectory. Fantom’s recent rise has sparked widespread interest in the cryptocurrency community and sparked discussions about potential next steps. As a result, it has solidified its position as a project worthy of attention from investors.

3. Conflux (CFX)

Conflux Network is charting a bullish trajectory with support at $0.30 and a steady rise. The price of CFX is $0.413153, up 4.38% in the last 24 hours. Investor sentiment remains optimistic, with 18 of the last 30 days ending in the green. This optimism is reflected in the Fear & Greed Index of 81, indicating increased buying pressure.

CFX price chart CFX price chart

Conflux Network is trading comfortably above its 200-day simple moving average and is currently at $0.165953, 147.12% above this marker. This stability and high liquidity, based on market capitalization, reflect Conflux’s strong fundamentals.

Therefore, analysts predict that Conflux will likely exceed its next target of $0.75 sooner than expected. There is also speculation that the CFX coin could reach levels exceeding $1.28 by 2024 due to the support of a dedicated cryptocurrency community and the potential for collaboration with other networks in the future. These factors position Conflux as a project with promising future growth prospects.

4. Solana (SUN)

Solana has been on the rise since its launch four years ago. This year, it boasted a network of over 1,600 validators and over 254 million blocks, recording over 276 billion transactions. The current buzz around the coin is pushing the price higher with an intraday surge of 4.92%, bringing it close to the cycle high of $197.31.

SOL price chart SOL price chart

Moreover, Solana has recorded 17 green days out of the last 30 days, indicating a bullish trend in market sentiment. Over the past year, SOL’s price has surged 834%, outperforming 94% of the top 100 cryptocurrency assets, including Bitcoin and Ethereum.

Meanwhile, investor sentiment remains optimistic about Solana’s prospects, with the Greed Score fixed at 81. This indicates an increase in coin trading as FOMO drives traders to buy. This optimistic outlook is further supported by consistently positive performance relative to the token sale price. As Solana continues to rise, investors are expecting significant returns.

5. Ituk Tuk (TUK)

Ituktuk With a focus on sustainability, we strive to solve transportation problems in developing countries and beyond. eTukTuk sets out to transform traditional transportation, including tuk-tuks, by leveraging the power of blockchain technology.

eTukTuk highlights the negative side effects of internal combustion engine (ICE) tuk-tuks in its white paper. In this respect, the project highlights the urgent need for sustainable alternatives to two- and three-wheelers, which are widespread, especially in developing countries.

Pre-sales for the project have attracted great interest, raising more than $2.2 million to date. each $TUK With a token worth $0.0285, its value is expected to skyrocket as the pre-sale enters its next phase in eight days. This presents a potential opportunity for investors to take advantage of the current token price and 115% Annual Percentage Yield (APY) ahead of potential price increases.

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6. Helium (HNT)

HNT surged around 3.74% in today’s trading session. Showing bullish momentum, it found support near the 50-day exponential moving average (EMA) and rebounded from the previous downtrend. Helium is currently trading at around $8.29, a notable increase in price. Additionally, the circulating supply is 160.87 million HNT tokens, with a maximum supply capped at 223 million HNT tokens.

HNT price chart HNT price chart

Following the long-term trend, the HNT cryptocurrency appears to have room for further upside and is attracting potential buying interest centered around the 50-day EMA support. Nonetheless, a break above the trendline resistance could signal a continuation toward new swing highs.

Moreover, HNT’s price forecast suggests a potential high of $11, which represents an upside of 22%. Conversely, a violation below the 50-day EMA may signal that the corrective phase continues. Helium’s recent performance indicates that a green era is imminent, and represents a potential opportunity for investors considering the positive long-term outlook.

7. BNB

Recent developments from Binance management have sparked interest and speculation among investors. The token suffered a downward trend following the departure of Binance’s former CEO Changpeng Zhao. Despite these initial setbacks, BNB has shown resilience and is on course to overcome these setbacks and start printing green. It is currently trading at $317.6, up slightly by 7.01% from last month.

BNB price chart BNB price chart

Moreover, BNB adoption is growing as the token’s utility expands beyond exchanges. BNB has applications in a variety of sectors, including DeFi, NFT marketplaces, and staking tokens on Binance Smart Chain (BSC). However, BNB’s future profitability will depend on several factors, including Binance ecosystem expansion, regulatory developments, and widespread adoption.

Additionally, Binance’s strategy of burning BNB tokens regularly to reduce supply could increase its value if demand remains strong. As blockchain technology and cryptocurrency gain attention, the importance of BNB as a core cryptocurrency asset will increase.

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adminMarch 17, 2024

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