January 23 Best Cryptocurrencies to Buy Now – TRON, Pendle, Frax Share

adminJanuary 24, 2024

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Every day we review a few of our picks: Best Cryptocurrencies to Buy Now Based on the latest market trends, blockchain news, and trend narratives.

January 23 Explore the cryptocurrency markets as we highlight tokens worth investing in, including TRON, Pendle, and Frax Share. Discover the unique qualities and latest advancements that make these digital assets stand out in today’s market.

Best Cryptocurrencies to Buy Now

In our analysis of the best cryptocurrencies you can buy now, we analyze individual features and recent developments that contribute to their appeal among investors. In today’s article, we’ll look at why SUI’s value has skyrocketed and Frax’s plans to implement a layer 2 solution. Following the launch of the first direct investment exchange traded fund (ETF), we focused on trending news. bitcoin On January 11, the popular digital asset experienced a notable decline of nearly 20%.

1. Sui (SUI)

Sui (SUI) has experienced a notable rise in value, hitting all-time highs amid the thriving DeFi ecosystem. The Sui blockchain network is currently ranked in the top 15 in daily and weekly trading volume, demonstrating the growth of decentralized exchange (DEX) trading.

SUI price chart

Additionally, Sui’s Total Value Locked (TVL) has increased significantly along with impressive transaction speed and capacity. The rise of the platform increases the efficiency of Web3 transactions with the help of advanced technologies such as zkSend. Additionally, the price of SUI rose 7.36% intraday, reflecting high liquidity based on market capitalization.

Additionally, Sui Crypto peaked at $1.839970 on May 3, 2023, and hit an all-time low of $0.00. The lowest price since the all-time high was $0.363263, and the highest price since the last cycle low was $1.449110. Analyzing Sui’s recent performance and ecosystem growth, there are positive indicators.

Remember the wave of inscription-related activity across various blockchains last December? Inscription and storage of NFT metadata is an example of a powerful on-chain storage application. https://t.co/adRzkENGBa
— Sui (@SuiNetwork) January 20, 2024

The network’s high trading volume and growing Total Value Locked (TVL) point to a promising future. However, the main challenge lies in Sui’s ability to sustain this growth amid competition from other blockchains and market fluctuations. This will have a major impact on the future price trajectory.

2. Frax Share (FXS)

The recent market performance of Frax Share (FXS) indicates a bullish trend as the token is above its key moving averages. FXS is currently trading at $9.36, up slightly 3% since last week. Increased trading volume increased 41.86% to $77 million, further supporting the prevailing bullish sentiment.

FXS price chart

Moreover, Frax’s plan to implement a layer 2 solution in early February is a significant development on the horizon. This strategic move aims to increase the scalability of the stablecoin platform and reduce transaction fees. The upcoming protocol upgrade is likely to reignite interest in FXS, the governance token of the Frax ecosystem.

Moreover, FXS is currently in an upward trend and there is a possibility of a breakout near $10. However, despite average buying momentum, investors anticipate decisive breakouts and carefully analyze past sessions for insights. Technically, the FXS token is trading above its 200-day simple moving average, indicating continued positive momentum.

sfrxETH is already being added to the Liquid Restaking Protocol/Token (LRT) ahead of Eigenlayer integration on January 29th! Kelp DAO is the first LRT integration. 🤝 Users can re-stake directly on January 29th and @eigenlayer. https://t.co/CqrAwDCw21
— Frax Finance(¤, ¤) 🦇🔊(@fraxfinance) January 16, 2024

Additionally, the coin’s high liquidity based on market capitalization makes it attractive to investors. Additionally, out of Frax Share’s maximum supply of 99.9 million FXS, the circulating supply is 76.46 million FXS. In addition, the annual supply inflation rate was 371.72%, showing that 60.25 million FXS were created last year.

3. Tron (TRX)

TRON (TRX) has shown continued growth, evident on weekly and monthly charts. The token is outperforming its core value cluster and maintaining its position above important moving averages. Additionally, the current value of TRON is $0.1085, with a 24-hour trading volume of $283,731,078.

The coin is ranked 11th on CoinMarketCap and has a real-time market capitalization of $9,568,129,030. The circulating supply is 92.35 billion TRX out of the maximum supply of 99.28 billion TRX. Additionally, TRON’s tokens have increased by 77% in the past year.

TRX price chart

Additionally, TRON outperformed 76% of the top 100 cryptocurrency assets during the same period. Additionally, TRON ranks 5th in Proof-of-Stake coins and 1st in the Tron network. The token also ranks 9th in the Layer 1 category. Additionally, the project boasts high liquidity, as evidenced by its significant market capitalization.

By the end of 2023, #tron The total number of network accounts is over 200 million, and our network has facilitated nearly 7 billion transactions! 🌐
Find out more about Q4 2023. @MessariCrypto Report on Tron. 👇 https://t.co/oKyKB7Oc7x
— Tron Dao (@trondao) January 19, 2024

TRON is actively traded on Binance, adding accessibility and exposure to the cryptocurrency market. In summary, TRON’s recent performance metrics, strategic rankings, and trading metrics position TRON as the best cryptocurrency to buy right now.

4. Launchpad XYZ (LPX)

Launchpad XYZ, a Web 3.0 investment sector platform, offers a range of products covering utility tokens, ICOs and NFTs. Their goal is to simplify the Web 3.0 experience for beginners and seasoned investors. This platform provides valuable information to enable cryptocurrency investors to make informed decisions.

Stakeholders can benefit from premium features such as reduced trading fees on the Launchpad XYZ decentralized exchange. Additionally, LPX token holders will have guaranteed access to new NFT mints at competitive prices and enjoy early access to exclusive pre-sales.

The platform also introduced Launchpad Quotient (LPQ), an innovative ranking system that leverages more than 400 data points. The system analyzes social, financial, and market data to provide credibility and trust rankings for various digital assets.

🚀 The show ends tomorrow. #launching pad XYZ Pre-sale!
This is your last chance to take action and shape the future of cryptocurrency trading.
Don’t wait! 🌐 #Cryptocurrency #web3 #100x #trading pic.twitter.com/7lMdQnM2ar
— Launchpad.xyz (@launchpadlpx) January 23, 2024

that much LPX The token was successful in raising significant funds through pre-sale, totaling $2,708,663.95. This signals market acceptance and could potentially establish LPX as the best cryptocurrency to buy right now. The current pre-sale value is $0.0445 and is scheduled to end in the next 24 hours.

Visit Launchpad XYZ Presale.

5. PENDLE

Pendle is the latest addition to Cobo Argus’ lineup of strategic bots and is set to streamline decentralized finance (DeFi) operations. This is accomplished through automatic contract execution and token transfer according to predetermined conditions. Additionally, the collaboration aims to enhance the capital efficiency of institutions by seamlessly integrating strategic bots into their systems.

pendle price chart

Investor sentiment towards Pendle’s price predictions is bullish, with the Fear and Greed Index sitting at 50, indicating a neutral stance. Additionally, Pendle is trading above its 200-day simple moving average, highlighting its favorable market position. Pendle also observed that the market performance increased by 15.84% over 7 days.

Out of the maximum supply of 258.45 million, there are 238.19 million PENDLE tokens in circulation. With an annual supply inflation rate of 24.25%, 46.49 million PENDLE tokens were created over the past year.

Pendle Print:
An update on all things Pendle related.
Go to the institution for everyone.
Sub to PP https://t.co/1dWMsZqEDg
— Pendle (@pendle_fi) January 19, 2024

Additionally, Pendle reached its highest price of $2.42 on January 22, 2024. Conversely, the lowest recorded price was recorded on November 14, 2022 at an all-time low of $0.034103. Following the all-time high, Pendle experienced a cycle low of at least $1.895090, and the highest price since the last cycle low reached $1.923820.