Best Cryptocurrencies to Invest in Right Now April 6 – Sui, Polygon, Arbitrum

adminApril 7, 2024

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In this post, I will highlight its high potential. cryptocurrency It can help traders consider their investments and find the best options for any given day.

As the cryptocurrency market changes, attention is turning to coins that could surge in value during the expected Bull Run. Recognizing these prospects is critical for strategic investors. This article focuses on specific cryptocurrencies expected to grow significantly, providing insight into the reasons for their potential rise.

The best cryptocurrency to invest in right now

5th Scape’s ICO funding exceeds $4 million, sparking speculation about its potential to transform the gaming sector. Arbitrum’s market performance showed a dynamic trend, with the stock increasing 2.67% during the day to $1.47. Avalanche has been attracting attention from cryptocurrency market investors recently due to significant investment inflow from high-net-worth individuals.

1. Polygon (MATIC)

Polygon is a layer 2 scaling solution built on top of Ethereum with potential growth amid the increasing adoption of Web3 protocols and smart contracts. The altcoin currently boasts a fully diluted value (FDV) of approximately $8.6 billion, with a daily AVL of approximately $280 million. Despite experiencing a recent decline of 9% in one week and 15.55% in one month, MATIC has surged 59.22% in six months.

MATIC price chart

This suggests a mix of short-term corrective moves, but significant long-term upside. Polygon’s price is currently hovering between $0.96 and $1.07, with speculation that it may break above the $1 resistance level. Known for its collaborations with various blockchain projects, Polygon benefits from a thriving ecosystem that is driving demand for MATIC.

The life of a gamer. It travels the world without the ability to convey heritage, ownership, or respect.
until now.@Moonvale_Studio We are launching a dedicated chain for Polygon CDK that supports an interoperable web3 game ecosystem.
Moonveil leverages its integrated network to allow gamers to: pic.twitter.com/QCRyBSZx3U
— polygon | Aggregated (@0xPolygon) April 2, 2024

Additionally, MATIC’s upcoming POL upgrade is seen as a promising fundamental development that could push the token price higher in the long run. Following Ethereum’s recent London hard fork upgrade, the Polygon network has seen increased on-chain activity due to reduced transaction fees.

Market data shows that the Polygon network has a total value of approximately $1 billion and has collected a total of $111,000 in fees from approximately $112 million in 24-hour trading volume on the web3 protocol. With a total bridged value locked (TVL) of over $9.9 billion, Polygon stands to benefit from increased adoption of Ethereum’s web3 ecosystem led by institutional investors.

2. 5th SCAPE

5th sceneryICO (initial coin offering) funds exceeded $4 million. The achievement sparked speculation about the project’s potential to revolutionize the gaming industry. Additionally, the 5th Scape fusion virtual reality (VR) game with blockchain technology attracts cryptocurrency investors who see the potential in this innovative combination.

🚀 Pre-orders have surged beyond level 3!
🌐 Join us today and explore the world of virtual reality with multi-utility tokens.
🎉 Don’t miss the opportunity to join our vibrant community! #Hymphoclash #Hymphoclash #worm-hole #Cryptocurrency #5th scenery #Ticketing #Step 4 🌟 pic.twitter.com/QeznEVAvFJ
— 5th Scape (@5th_scape) April 4, 2024

With over $4 million already raised in the ICO, many are excited about the possibility that 5SCAPE will soon experience significant growth. The project aims to create an ecosystem that seamlessly integrates high-quality gaming experiences and the capabilities of blockchain technology. It also offers a variety of immersive VR games, including realistic sports simulations, combat games, and racing experiences.

One of the key features outlined in the 5th Scape whitepaper is the benefits for 5SCAPE token holders, which include lifetime access to the platform’s game library and attractive staking rewards. The project also plans to build a decentralized creator marketplace. 5scape Used as the default currency for transactions. 5th Sscape aims to introduce a new approach to VR gaming by leveraging blockchain technology.

Combining this with the principles of Web3 creates a unique user experience. This ambitious vision appears to be the driving force behind the significant demand for the project’s ICO so far.

Check out the 5th Scape Presale

3. Arbitration (ARB)

Arbitrum’s recent market activity reflects dynamic trends. As of the latest update, the value of ARB coin was $1.47, showing an increase of 2.67% during the day. However, this rise contrasts with the significant decline experienced after unlocking 1.1 billion ARB tokens in March.

In the last 20 days, altcoins have fallen by more than 30%. Nonetheless, there appears to be a stabilizing effect around $1.4 as the bulls try to prevent further losses by maintaining support above this level. Moreover, the current sentiment surrounding Arbitrum’s price predictions leans towards bullish, while the Fear and Greed Index registers a value of 75, indicating a “greed” sentiment in the market.

ARB price chart

Additionally, Arbitrum’s trading activity is 40.08% well above its 200-day simple moving average (SMA), which has an SMA of $1.038560. This means that it has relatively high liquidity based on market capitalization. A notable recent development is the collaboration between Arbitrum and Anchorage Digital. This is a move expected to increase institutional adoption and enhance growth within the Arbitrum ecosystem.

We are happy to share it @anchorage Digital now supports Arbitrum with governance support💙
This is a notable step towards institutional adoption and growth of the Arbitrum ecosystem! https://t.co/BObLPbDfOZ
— Arbitrum (💙, 💙) (@arbitrum) April 3, 2024

Anchorage’s support for Arbitrum includes custody services for Arbitrum-based assets such as Ether, USDC, and ARB. Additionally, a “Governance Support” plan is in the pipeline, which is a big step forward in improving the functionality of the platform.

According to Steven Goldfeder, one of Arbitrum’s co-founders, Anchorage is one of several cryptocurrency custodians facilitating holdings of Arbitrum-based tokens. This partnership highlights the project’s commitment to expanding reach and accessibility within the digital asset landscape.

4. Avalanche (AVAX)

Recently, Avalanche has received a lot of attention in the cryptocurrency market due to notable investment inflow from high-net-worth investors. These investors, who each hold between $1 million and $10 million worth of AVAX, collectively acquired nearly $52 million worth of AVAX tokens. The acquisition amount exceeded $2.1 billion in just three days since early April.

The surge in investment by cryptocurrency whales indicates strong confidence in AVAX’s price upside potential. Analysts are predicting a potential increase of 23.5% from the current trading price of $47.54. This potential increase could reach $60, just above this year’s high of $65.

AVAX price chart

Avalanche has shown notable performance metrics in the cryptocurrency market. The price also rose 5.88% intraday, reaching $47.54. Over the past year, AVAX has achieved an impressive growth of 168%. Technically, the Avalanche is trading above its 200-day simple moving average, indicating positive momentum.

What are the key benefits of building on Avalanche, and what major upgrades are planned for this year?@el33th4xor A detailed look at all things Avalanche. @Ash Bennington In ~ @Real Vision! https://t.co/cv7tgUOfPj
— Avalanche 🔺 (@avax) April 5, 2024

Additionally, it has shown strong liquidity based on market capitalization. Overall, the cryptocurrency whale’s significant investment and positive performance indicators suggest an optimistic outlook for Avalanche. However, as with all investments, investors should conduct thorough research and consider the risks involved before making any decisions.

5. Sui (SUI)

Sui recently announced a strategic integration with DRIFE, a Web3 Mobility infrastructure provider. The collaboration aims to streamline the onboarding process for users and ecosystem partners in the ridesharing sector. DRIFE also seeks to expand its decentralized mobility infrastructure sector by migrating to the Sui blockchain.

Sui also removes technical barriers for developers to launch projects on the platform. At the time of writing, SUI is trading at $1.63, up 4.04% intraday and trading above its 200-day simple moving average. The token has shown positive performance compared to its initial token sale price.

SUI price chart

Sui’s decentralized exchange (DEX) also experienced a significant surge in trading volume, exceeding $2.88 billion in March, up 49% from February. This increase can be attributed to platforms such as Cetus and wholesale liquidity layer DeepBook. According to a report by DeFiLlama, Sui recorded over $830 million in trading activity last week alone.

Since January 2024, Sui has made significant progress in the DeFi space, surpassing $700 million in total value locked (TVL) earlier this week, representing a 1900% increase since October 2023. Additionally, Sui’s trading volume continues to grow, setting the standard. This is for the DeFi ecosystem.

way to go #Sui Base Camp It continues!
side by side @4ptOLabsWe have been holding Move workshops all over Europe.
jump into #move And looking at Sui @QuantoxComLet’s recap the events that took place in Belgrade early last month! https://t.co/yXrx926E4b
— Sui (@SuiNetwork) April 6, 2024

During the mainnet era, Sui processed an impressive 65.8 million transactions per day, setting a new record in blockchain history. This achievement highlights Sui’s commitment to maintaining network stability and efficiency. SUI has seen 5x more inflows from Ethereum than Avalanche and 78% more than Solana over the past three months. This indicates growing interest and trust in the Sui ecosystem within the cryptocurrency community.