5 Best Altcoins to Invest in Right Now March 7 – THORChain, Akash Network, EOS

adminMarch 8, 2024

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As the market continues to rise, investors are filling their portfolios with promising tokens, and many are reaping significant profits. With major market players out of reach, altcoins are becoming increasingly attractive to smart investors looking to enter the market intelligently.

Nonetheless, choosing the right altcoin requires dedication and thorough research. This article aims to simplify the decision-making process by identifying some standout altcoins for investors to consider.

5 Best Altcoins to Invest in Right Now

As altcoin season approaches, THORChain, Akash Network, and EOS emerge as standout options boasting unique features and promising market prospects. At the same time, cryptocurrencies rebound as follows: Bitcoin recently pulled back from its all-time highs..

1. TorChain (RUNE)

Thorchain is showing signs of entering a bull market, with growing optimism about the market outlook. In particular, performance above the 200-day exponential moving average (EMA) indicates a strong recovery trend beyond the end of 2023. Additionally, Thorchain has caught the attention of HODLers, with significant price increases expected.

Moreover, Thorchain’s price chart shows volatility since the beginning of the year. This volatility represents significant fluctuations in buying and selling pressure within the coin market. Meanwhile, Thorchain recorded a 23.79% year-to-date (YTD) valuation surge, indicating increased buying activity within the cryptocurrency space.

RUNE price chart

RUNE shows a bullish trajectory in market indicators, suggesting positive price action soon. Technical indicators are consistent with this sentiment. Moving Average Convergence Divergence (MACD) also displays a consistent green histogram with an ascending average. Additionally, the Cross EMA 50/200-day curve indicates a bullish trend, suggesting significant price action is likely ahead.

What happens next?
1) Node 100% updated: V1.128 code path running
2) 60,000,000 $RUNE I moved to RESERVE and burned my Instagram.
3) Opening of loan limit ~$100 million collateral space opening
4) Resume onboarding collateral at a rate of $1 million per day
Who’s ready? https://t.co/qfN1VVWTC2
— THORChain (@THORChain) March 6, 2024

Therefore, experts predict that if the bullish momentum continues, the price of Thorchain will challenge the previous high of $7.310 in the coming days. Conversely, a trend reversal could lead to a loss of momentum, which could lead the price to test the $5.360 support level within the next week.

2. Akash Network (AKT)

Decentralized cloud computing is gaining traction, and focus is shifting to Akash Network for its innovative approach. In this regard, the market is growing due to AKT’s optimistic sentiment. This, along with increased trading volume, raised the greed score to 82 points.

In the last 30 days, Akash Network has experienced 18 green days, which constitutes 60% of the period. It is currently trading near cycle highs of $6.24. Meanwhile, AKT has printed 14.91% in the last 24 hours, reaching $6.12.

AKT price chart

The impressive performance has continued over the past year, with its price rising 1,510%, outperforming 97% of coins. Additionally, Akash Network continues its positive trajectory with volume trading 506.79% above its 200-day simple moving average of $1.0128.

NVIDIA’s fourth-quarter earnings exceeded expectations by a wide margin. This is a healthy sign that demand for GPUs remains strong.
Akash supports this ongoing demand by providing permissionless access to GPUs to power AI, machine learning, and decentralized applications.
— Akash Network (@akashnet_) February 21, 2024

Considering its innovative features and strong community support, Akash Network’s AKT coin is poised for further growth. However, cautious optimism prevails, as our price forecast predicts a maximum price level of $4.82 by the end of 2024.

3. COFFEE

The proposal to launch Wagmi Leverage products on MetisL2 and KAVACCHAIN was successfully approved with an overwhelming 86% of votes. Kava deployments scheduled for next week begin today with deployment and enabling utilization on the Metis network.

Meanwhile, Kava Chain started the year on a positive note, achieving a significant milestone on January 1, 2024, with KAVA token inflation reaching zero. This move makes it the first hard-capped, highly decentralized proof-of-stake layer 1 blockchain. More than half of the one billion KAVA token supply is safely locked in the community-managed Strategic Vault.

Kava Chain’s development journey demonstrates continuous growth and innovation. It also reflects adaptive leadership and a constant drive for evolution within the Web 3 space. In 2024, Kava Chain is set to have a major impact on on-chain finance.

KAVA price chart

It is driven by strategic innovation and a renewed commitment to decentralization and community expansion. Moreover, Kava’s price forecast is positive. A consistent green candlestick over the past month indicates a bullish outlook. Accordingly, the greed score was 81 points due to the high coin trading volume, showing confidence.

The current KAVA price is $1.033250, up 6.86% intraday. Kava’s closing price has been higher than its opening price for 21 of the last 30 days. In addition, it has high liquidity based on market capitalization, showing solid market performance.

🔊 Attention Kava Chain users 🔊
All BEP3 assets will be migrated to Binance Smart Chain around April 30 to streamline asset transfers, improve security, and lay the foundation for more efficient financial operations.
Read the full announcement:
https://t.co/buccMFtrFF
— KAVA (@KAVA_CHAIN) March 7, 2024

Over the past year, Kava has increased its price by 22% and is trading 31.13% above its 200-day simple moving average of $0.788257. With a strong foundation and dedicated cryptocurrency community, Kava has the potential to achieve significant milestones in the future.

Likewise, collaborations with other networks could influence KAVA Coin to surpass $2.43 by 2024. In a positive cryptocurrency market scenario, the average price of Kava coins is expected to hover around $2.20 by the same year. This presents an exciting opportunity for investors seeking growth in the cryptocurrency space.

4. EOS

Significant interest was sparked among cryptocurrency investors recently when EOS CEO Yves La Rose announced plans to halve the total supply of EOS. As a result, this decision raised the price of EOS to $1.2102, indicating a positive response from the market.

EOS price chart

Bitcoin is targeting $68,000, but optimistic news from EOS has contributed to the current price hovering around $1.25. Moreover, the fear and greed index of 81 suggests that investor confidence prevails despite the ongoing correction phase.

Meanwhile, the potential impact of EOS supply cuts on market value is anticipated. Speculations suggest that a price surge of more than $2 billion could push the coin’s price above $2, attract more investors and reshape market dynamics.

There are only 146 days left until the most monumental upgrade in history. $EOS history!#prairie #InstantFinality
Learn more 👇https://t.co/gcVABP8EDF pic.twitter.com/Cs8rwIzqWB
— EOS Network Foundation (@EOSNetworkFDN) March 7, 2024

Therefore, experts and investors closely monitor the development of EOS, hoping for a new price balance. Additionally, if the reduced supply is well-received, EOS may experience continued price growth, further enticing investors.

5. Ituk Tuk (TUK)

that much Ituktuk The pre-sale represents strong investor interest, reaching a significant milestone with funds raised exceeding $1.8 million. Centered around green initiatives and AI-based efficiency, the project offers an attractive opportunity for investors to purchase and stake tokens at a promising 137% APY. The current price is $0.02775, with future value likely to surge as the project progresses.

The eTukTuk protocol uses TUK tokens to optimize transportation routes, reducing traffic congestion and fuel consumption and promoting sustainable transportation practices. The project is also committed to supporting green transportation through AI research and aligning pre-sales efforts with environmental goals.

GM!
If you are still skeptical about participating in the pre-sale
Please read: https://t.co/QkBxPmk6H4
— eTukTuk (@eTukTukio) March 7, 2024

As well as, Ituktuk We are leveraging AI-enhanced blockchain technology to pioneer smart infrastructure and drive real-time eco-friendly initiatives. This commitment to green innovation positions the project as a leader in advancing sustainable practices.

Visit eTukTuk Presale