Best Cryptocurrencies to Buy Now December 16 – MultiversX, Stacks, yPredict
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SEC President Hester Peirce agrees with most optimistic cryptocurrency investors. The consensus is that a spot Bitcoin ETF should have been approved years ago, but regulators are standing in the way.
Despite her favorable opinion of the ETF, Peirce declined to say whether she thought it would be approved. Expectations are growing ahead of the January 10 deadline to approve or reject the ARK/21Shares spot Bitcoin ETF application. Moreover, the price of Bitcoin has more than doubled this year in anticipation of the vote.
ETF issuers and cryptocurrency companies have filed filings to make room. Bitcoin ETF for years. However, the Securities and Exchange Commission rejected the application on grounds of preventing market manipulation and protecting investors.
Best Cryptocurrencies to Buy Now
Stablecoins are a significant contributor to the cryptocurrency market with a total trading volume of $47.99 billion, accounting for 89.18% of the total 24-hour market trading volume. These numbers highlight the stability and importance of stablecoins in the current market environment.
1. MultiverseX (EGLD)
MultiversX has shown notable resilience and growth, up 44% over the past year. This puts it well ahead of half of the top 100 cryptocurrency assets. Its ability to sustain trading positions above its 200-day simple moving average stands out, making it one of the best cryptocurrencies you can buy right now.
Examining recent market activity, EGLD has been experiencing positive momentum. There are 15 days in green over the last 30 days, which represents 50% of the observation period. This indicates encouraging trends and balanced and steady market sentiment.
Connect to core apps via Ledger: Get back up and running ✅
The affected Ledger libraries are not used in our products, meaning users are not at risk.
Nonetheless, we have taken a proactive approach until the root cause is resolved. pic.twitter.com/BoJwa9LOon
— MultiversX (@MultiversX) December 15, 2023
Additionally, the project boasts high liquidity as reflected in its market capitalization. EGLD ranked 27th in the Layer 1 category. This means that MultiversX is receiving significant attention and investment attention.
Additionally, MultiversX is currently distributing 23.74 million EGLD out of the maximum supply of 31.42 million EGLD. This distribution plays an important role in providing insight into sustainability and future growth potential. Sentiment analysis shows that the Fear and Greed Index is 67 (Greed), indicating a neutral outlook.
2. STX
Pyth Price Feeds recently debuted on the Stacks platform, opening up many opportunities for smart contract developers. This move gives developers access to a comprehensive suite of over 400 real-time price feeds. It covers a variety of assets such as digital currencies, forex pairs, commodities, ETFs, and US stocks.
Stacks is at the forefront of introducing smart contracts to the Bitcoin network. Additionally, this paves the way for decentralized finance (DeFi) to succeed on this popular blockchain. Stacks’ performance over the past year shows several notable trends. The platform has shown incredible resilience, outperforming 84% of the top 100 cryptocurrency assets.
STX is trading above its 200-day simple moving average, which is a positive sign in technical analysis. Additionally, STX has experienced 17 green days in the last 30 days, accounting for 57% of the observed period. This, combined with high liquidity based on market capitalization, further strengthens Stacks’ position in the market.
Stax is currently distributing 1.43 billion STX units out of the maximum supply of 1.82 billion units. The annual supply inflation rate was 6.17%, showing that 82.99 million STX was created over the past year.
Stacks ranked 15th in the Ethereum (ERC20) token category and 26th in the layer 1 category. These numbers demonstrate Stacks’ prominence in the broader cryptocurrency landscape.
The sentiment surrounding Stax’s price prediction is bullish, indicating a bullish outlook among market participants. Additionally, the Fear and Greed Index is at 67, reflecting the greed state of market sentiment.
3. YPRED
yprediction AI applications are making waves in the cryptocurrency market. In particular, 100 million YPRED tokens, equivalent to 80% of the total supply, were secured. Investors who hold YPRED tokens receive quarterly staking rewards of up to 45% and discounts on yPredict’s AI tools.
They also get free lifetime access to the platform’s cryptocurrency price prediction system. In Phase 8, the YPRED token presale raised $5,501,524.36, giving each token a price of $0.11. The expected token value upon listing on the exchange is $0.12, potentially offering a 10% profit to early pre-sale participants.
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— yPredict.ai (@yPredict_ai) October 11, 2023
YPRED It aims to play a role in the AI-driven Web3 ecosystem and highlights benefits to early investors through staking rewards and discounts. The ongoing pre-sale phase and expected listing price aim to establish a stable foundation for the token’s value in the cryptocurrency market.
4. Dai (DAI)
Dai is exploring the cryptocurrency landscape with a price of $0.998631, which represents a slight intraday gain of 0.03%. Market activity for the token is active, with 24-hour trading volume reaching $166.51M.
Moreover, Dai’s recent fluctuations have seen the token reach a low of $0.977628 and a high of $1.028460. Market sentiment is leaning towards a bearish outlook, complemented by the Fear and Greed indices at 67 (Greed).
The project boasts high liquidity and occupies a respectable ranking based on its market capitalization. In the DeFi coin category, DAI ranks 3rd in stablecoins and 6th in Ethereum (ERC20) tokens.
Additionally, out of the maximum supply of 5.9 billion DAI, 53.5 billion DAI is in circulation. This is consistent with the project’s commitment to stability, making it an attractive option for investors looking for the best cryptocurrency to buy right now.
5. Kronos (CRO)
Through collaboration with Matter Labs, Crypto.com, and dApp developers, Cronos has achieved a notable milestone in its evolution with the introduction of zkEVM. This development is particularly significant because it leverages Ethereum’s Sepalia testnet. Likewise, it integrates Boojum, zkSync’s open source attestation program. Boojum is a STARK-based zero-knowledge proof system known for its efficiency in the layer 2 rollup space.
The launch of the native Ethereum chain was driven by the challenges of connecting the EVM chain and connecting Cosmos with Ethereum. The project also highlights the richness and robustness of the Ethereum developer ecosystem for building DeFi and NFT applications.
Looking at the financial aspect, the highest CRO price since the last cycle low is $0.120785, a cycle high. The current sentiment regarding Cronos’ price prediction is bullish. These sentiments are complemented by a Fear and Greed index of 67 (Greed).
📖 Ending the New Year #CROFam Chapter: Cronos zkEVM Chain Testnet Introduction @zksyncZK Stack Technology
🤝 This is an exciting opportunity for Cronos dapps to experiment with ZK layer 2 technology. Join us on this journey!
👉🏻 Learn more: https://t.co/KvlWeY5Lyk pic.twitter.com/SUl4Y6UpvS
— Cronos (@cronos_chain) December 14, 2023
Key highlights over the past year include a 71% increase in price, outperforming 53% of the top 100 cryptocurrency assets. Moreover, it is trading above the 200-day simple moving average. The coin has experienced 15 green days in the last 30 days, accounting for 50% of the observation period.
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