5 Best Altcoins to Invest in Right Now February 6 – Helium, Ronin, Conflux

adminFebruary 7, 2024

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The market is inching closer to an uptrend, and altcoins present a great opportunity to capitalize on the strength. However, choosing the ideal altcoin for your portfolio requires thorough research. That’s why Insidebitcoins makes the process easier by selecting and highlighting the top-performing altcoins that deserve investors’ attention.

5 Best Altcoins to Invest in Right Now

As the market transitions into an ongoing green phase, certain tokens are gaining attention for their investment potential. Helium, Ronin, and Conflux are emerging as standout altcoins. This token demonstrates unique properties and promising market upside, making it a portfolio contender.

Following today’s events, Gemini Trust Ltd. Cryptocurrency lender Genesis announced Saturday that it has filed a motion with the U.S. Bankruptcy Court seeking approval to sell trust assets. The proposition also requests approval to liquidate holdings in two Grayscale Ethereum trusts that provide investors with exposure to the cryptocurrency.

1. Helium (HNT)

Helium has been surging aggressively in January and is trying to hit $8.00. HNT performed strongly in December 2023, driven by positive sentiment surrounding the approval of a spot Bitcoin ETF. As a result, HNT’s market capitalization has surged by $800 million since early December.

Despite experiencing a sharp decline along with other altcoins in January, HNT was trading at $5.6166 on January 3. On January 12th, it rose 32.6% to $7.4518. However, on January 22nd it fell 18.2% to $6.0899 and then rebounded 30.2% to $7.9302 on January 29th.

HNT price chart

Additionally, HNT continues its steady market rise, accounting for 82% of the top 100 coins with a 147% increase. Moreover, it is continuously trading above the 200-day simple moving average. Additionally, there were 16 green days out of the last 30 days, indicating a positive trend.

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— Helium🎈 (@helium) February 2, 2024

Helium aims to capitalize on the expected bull market in the cryptocurrency market in 2024. Likewise, HNT’s trading activity is expected to increase in the second quarter of 2024 following the approval of the spot Bitcoin ETF. This price increase could push the price of HNT up 18.0% to $6.4952. With solid fundamentals and a dedicated cryptocurrency community, Helium has the potential to achieve significant growth. Additionally, collaborations with other networks could further improve the price of HNT, potentially surpassing $17.56 by 2024.

2. Conflux (CFX)

CFX’s recent collaboration with BlockBooster has led to a surge in investor interest. In that respect, Conflux is pushing another important development in its network. On January 30, 2024, Conflux (CFX) announced plans to create a Bitcoin L2 space within the network. As with previous partnerships, this news sparked excitement within the Conflux community.

Moreover, this announcement comes at a critical time when Conflux’s recent price movements are in the spotlight. CFX started the year at $0.193 and rose 4.0% to $0.2008 by January 17th. However, after this rise, it fell 6.5% to $0.1876 on January 25th. Nevertheless, on January 29, it rebounded 25.2% to $0.2363.

CFX price chart

Conflux’s introduction of Bitcoin L2 Space aims to revolutionize the network by allowing gas fees to be collected in BTC. This move will therefore drive demand for Conflux’s services and trading activity on CFX. Therefore, analysts predict that the value of CFX is likely to increase by 44.0% to $0.3403, pushing CFX into the upper tier of cryptocurrencies.

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— Conflux Network Official (@Conflux_Network) February 1, 2024

Meanwhile, CFX’s price increase from the beginning of the year to date reached 212%, surpassing 88% of the top 100 coins. Moreover, the coin is above the 200-day simple moving average and has 16/30 gree days, indicating a positive trend. Additionally, high liquidity based on market capitalization further strengthens its position in the cryptocurrency space.

3. Huobi Token (HT)

Huobi token is showing promising signs despite the market outlook. A 6.01% intraday surge took HT to $2.97, a positive move from its recent low of $3.19. Moreover, investors are bullish on HT. Additionally, Fear and Greed remain above the 200-day simple moving average at 60.

HT price chart

Turning to market performance, Huobi Token ranked 11th in the Exchange Tokens category. It also ranks 31st among Ethereum (ERC20) tokens and 47th in the layer 1 sector based on market capitalization. On this basis, HT continues to demonstrate resilience in the market.

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— HTX (@HTX_Global) February 4, 2024

The 14-day relative strength index (RSI), which analyzes key indicators, is 59.47. Therefore, this signals a neutral stance and a possible near-term sideways movement. Additionally, HT has recorded 16 green days out of the last 30 days, or 53% of positive trading days. Additionally, the price volatility of Huobi tokens remains relatively low, with a 30-day volatility of 11%.

4. Ituk Tuk (TUK)

that much Ituktuk This project is poised to actively transform transportation infrastructure in developing countries. eTukTuk is actively aiming to change the way people travel in the region by integrating electric vehicles and charging stations and providing blockchain technology.

Additionally, the $TUK token that powers the eTukTuk ecosystem has revolutionized developing countries by providing affordable transportation solutions. It actively serves as a payment and rewards currency within the ecosystem, making transactions easier and rewarding participation.

Ituktuk A pre-sale of $TUK tokens is currently underway and is garnering market interest. We raised $808,298.39 of our $844,058 goal. The price of each $TUK token is $0.02625 during the pre-sale period, so early investors can obtain tokens at a discounted price.

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— eTukTuk (@eTukTukio) February 6, 2024

Additionally, investors participating in the presale can purchase and stake $TUK tokens and potentially earn annual rewards of up to 273%. These purchase and equity mechanisms actively encourage long-term investment in the project. As pre-sales continue, retail investors can capitalize on future growth by acquiring $TUK tokens before they are officially listed on exchanges.

Visit eTukTuk Presale.

5. Ronin (RON)

According to recent analysis, the Ronin cryptocurrency has shown a strong upward trend since the end of November 2023, with its price soaring from $0.8000 to over $3000. This surge forms a rising wedge pattern, suggesting a potential continuation of the upward momentum. After breaking out of support levels around $0.8000 and $1.7500, Ronin showed notable strength. In this way, it signaled the possibility of breaking through the resistance line and reaching a new high.

RON price chart

Technical indicators such as Supertrend and key 20-day and 50-day EMAs highlight the strength of buyers, further supporting the bullish outlook. MACD and RSI are also showing positive signals. On the daily chart, Ronin continues to show bullish signals and has shown significant growth over the past week, month, and quarter.

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Additionally, if demand remains strong, Ronin’s price could continue to rise towards $5.00, with resistance at $3.5000. However, failure to hold above $2.5000 could lead to further declines. Ronin’s current price action and technical indicators suggest an active bullish trend. Additionally, we anticipate the potential for further profits as we demonstrate our strength in the market.