6 Best Altcoins to Invest in Right Now January 23 – Sui, TRON, KAVA

adminJanuary 24, 2024

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Investors are constantly looking for tokens to take advantage of the expected bull market. As Bitcoin retreats slightly, altcoins offer a promising alternative. For investors looking to capitalize on the market’s current outlook, this guide is the key to unlocking the best altcoins.

6 Best Altcoins to Invest in Right Now

Despite the relative calm in the market, some tokens have outstanding potential. Several altcoins received attention, including Sui, TRON, and KAVA. This guide highlights the unique characteristics that make these altcoins stand out, providing investors with valuable insights to make informed market decisions.

Meanwhile, Spot recently debuted. Bitcoin exchange traded fund (ETF) has sparked a change in investor behavior within the market. $21 million was withdrawn from prominent cryptocurrency funds last week, according to a new report from digital asset fund manager CoinShares.

1. Sui (SUI)

SUI is firmly entrenched at $1 and is forecast to surge to $2.50. With this resilience, Sui has a promising trajectory to reach $12 in the next Bull Run. Moreover, the price of SUI is $1.112874, which has increased by 6.91 in the last 24 hours. At the same time, Sui’s trading volume reached $1.11 billion, showing market dominance of 0.08%.

SUI price chart

Moreover, recent data from CoinMarketCap highlights a significant surge in trading volume. As such, the price surpassed $950 million on January 13 following an extraordinary surge of 2,200% in just three months.

👉 @DesigLabs We demonstrate how the brand new Stake Aggregator collects and evaluates data from staking protocols and presents users with the best options. https://t.co/5SEgbqHJw6
— Sui (@SuiNetwork) January 20, 2024

Looking at SUI’s growth indicators, Total Value Locked (TVL) is attracting attention. As reported by DefiLlama, the coin has increased by 828% from $54.39 million in October 2023 to its current value of $319.23 million. Furthermore, this surge in TVL demonstrates solid fundamentals, firmly establishing SUI as one of the best-performing cryptocurrencies.

2. COFFEE

KAVA holds support at $0.70 and has the potential to jump to $2 in the near term. On this note, we are looking at an impressive $10 in the next bullish wave. From January 1, 2024, KAVA token inflation will reach 0. This move marked a turning point for Kava Chain as it gained attention as the first hard-capped decentralized proof-of-stake Layer 1.

KAVA price chart

Likewise, it actively offers competitive on-chain rewards and boasts a community-owned Strategic Vault with a sizable $300 million in assets. Meanwhile, the current sentiment on Kava’s price prediction is leaning towards bearish. However, Kava’s token inflation is reflected in neutral market trends, injecting optimism. Fear/Greed score is 50. Investors are holding on to this in anticipation of an impending bull market.

1/ 🌟
Kava Chain has transitioned to a zero-inflation tokenomics model!
The Kava 15 update sets a new precedent in the PoS environment by stopping the creation of new KAVA tokens starting January 1, 2024. pic.twitter.com/DRZKb0EDkf
— KAVA (@KAVA_CHAIN) January 19, 2024

In the same vein, Kava is positioned for incredible growth. The token boasts good fundamentals and strong community support. Therefore, experts predict that KAVA Coin could soar above $2.43 by 2024. Nonetheless, this will depend on potential collaborations with other networks and market trends. In a bullish cryptocurrency market, the average price is expected to solidify around $2.20 within the same period.

3. Bit Tensor (TAO)

Despite a surge of 5.77% in the last 24 hours, the prevailing sentiment on Bittensor’s price prediction remains bearish. However, the bulls may appear soon as the Fear & Greed Index remains above 50. Additionally, Bittensor confidently trades above its 200-day simple moving average, indicating market stability.

Additionally, the price of TAO was $261.85, and the trading volume was $9.42 million, a 78% increase. Additionally, the market capitalization increased by 5% to $1.6 billion, indicating a market dominance of 0.10%. By market capitalization, these metrics secure Bittensor as the second-highest company in the AI cryptocurrency sector.

TAO price chart

At the same time, Bittensor’s history unfolds with highs and lows, suggesting its ability to always bounce back. On December 14, 2023, it reached an all-time high of $394.91. On the other hand, the lowest point was recorded at $31.74 on May 14, 2023. After hitting an all-time high, the lowest price since ATH was set at $193.77, maintaining a resilient trajectory amid market fluctuations.

4. Tron (TRX)

Huawei Cloud’s Native Enterprise Service (NES) recently partnered with the TRON network. The goal is to streamline blockchain operations and improve accessibility for developers in the Web3 space.

If you pay attention to the price of TRON (TRX), it is experiencing an upward trajectory, trading significantly above its moving average. Moreover, Bulls are actively pushing for a bounce towards the upper trendline of the channel. This therefore sets the stage for potential buying action in future sessions.

Tron price chart

Additionally, TRON’s weekly and monthly chart growth shows a continued upward trend. At the same time, it has outperformed its core values and maintained a strong position above important moving averages.

Check it #tronics! 🙌@Huawei Cloud1NES now supports: #Tron NetworkImprove accessibility, simplify blockchain operations, provide advanced tools for developers, and provide opportunities for participants #web3 space. 😍 pic.twitter.com/KB7sB8Dbhr
— Tron Dao (@trondao) January 23, 2024

A breakout is actively expected as buyer interest is high and the top of the Bollinger Band is near. Over the past week, the price of TRON has surged from $0.10 to $0.117. According to the current trend, the potential value is expected to be $0.1798 by the end of 2024.

5. Frax Share (FXS)

Frax Share is gaining attention as EigenLayer prepares for the launch of SfrxETH, scheduled for January 29th. This native ETH LSD token of the Frax protocol has seen incredible growth. Additionally, Fraxtal, Frax’s eagerly awaited Layer-2 blockchain, is scheduled to launch in the first week of February.

FRAX price chart

Additionally, FXS is gaining the attention of the cryptocurrency community with a total value locked (TVL) of over $1 billion. Therefore, founder Sam Kazemian is optimistic about Fraxtal’s impact and expects TVL and market capitalization growth in the coming months. The launch is targeted for the first week of February, with support via Fraxscan and a number of projects expected to debut.

Today is FRAX v3 $FXB Your module has been activated! this
Complete FRAX v3 design and deployment of all new features. This is a watershed moment due to FXB’s unique design and utility within DeFi.
🧵 pic.twitter.com/V0uR7El2it
— Frax Finance(¤, ¤) 🦇🔊(@fraxfinance) January 19, 2024

Moreover, this development marks an important addition to Frax’s product line, with projects like Curve considering deploying their features on Fraxtal. Utilizing roll-up technology for efficient trade execution, Fraxtal adds a new dimension to the cryptocurrency space.

6. Bitcoin Minetrix (BTCMTX)

Bitcoin Minetrix We plan to reshape the Bitcoin cloud mining environment through an innovative Stake-to-Mine mechanism based on smart contracts. Detailed in the whitepaper, the project builds a secure Ethereum platform that allows users to earn mining hash power by staking and burning tokens.

Additionally, this progressive approach effectively addresses common issues associated with existing cloud mining practices. With over 400,000 BTCMTX tokens currently staked, Bitcoin Minetrix has successfully raised an impressive $8.5 million in its ongoing pre-sale phase. This indicates significant interest and trust from investors.

In particular, Bitcoin Minetrix strategically implements a unique staking mechanism to alleviate selling pressure upon exchange launch. Moreover, this strategic move ensures solid growth for the project while emphasizing stability and sustainability.

Cloud mining provides a convenient gateway. #Bitcoin No technical expertise, hardware configuration or maintenance is required. 💻⚒️
Experience cost-effective mining using state-of-the-art equipment without worrying about electricity bills or large equipment. pic.twitter.com/lAQhhNC8k9
— Bitcoin Minetrix (@bitcoinminetrix) January 23, 2024

Thanks to the success of the current pre-sale phase and a solid foundation established through the Stake-to-Mine mechanism, Bitcoin Minetrix It is establishing itself as a promising player in the cryptocurrency mining ecosystem. Investors and enthusiasts can look forward to the development of the project, which introduces a new paradigm to Bitcoin cloud mining through the power of smart contracts.