June 8 Best Cryptocurrencies to Invest in Right Now – Fantom, Injective, Cronos

adminJune 8, 2024

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InsideBitcoins continually reviews: Best Cryptocurrencies to Invest in Based on recent price/performance ratio. This review considers market trends and overall performance to provide investors with informed recommendations.

The recent volatility in the cryptocurrency market has undoubtedly caused some anxiety, with Bitcoin experiencing a slight decline of 0.05% in the last 24 hours. This trend has also affected several altcoins and meme coins. However, even amidst this uncertainty, several altcoins have shone. Wormhole (W) and Injective (INJ) emerged as top gainers, suggesting potential profit opportunities.

In this context, it is essential to analyze select altcoins that have the potential to outperform traditional digital assets. This analysis captures the attention of traders and investors, highlighting the promising prospects of the current market.

The best cryptocurrency to invest in right now

Recent market performance indicates strong confidence in CRO and presents it as an attractive investment opportunity in the volatile cryptocurrency market. Additionally, WienerAI successfully raised over $5 million in the pre-sale phase for a limited time. Additionally, the introduction of W staking for governance contributed significantly to Wormhole’s price surge. Additionally, Injective recently integrated leading gaming company gumi as a new validator.

1. Phantom (FTM)

Fantom is an open source, decentralized smart contract platform and alternative to Ethereum. It aims to address the limitations of previous blockchains by focusing on scalability, security, and decentralization. The platform provides tools to simplify dApp integration and offers a detailed staking rewards system along with built-in DeFi tools.

The platform can execute faster and cheaper transactions while maintaining high security standards. It is compatible with the Ethereum Virtual Machine (EVM), which facilitates the creation and deployment of smart contracts.

Fantom also boasts a processing capacity of thousands of transactions per second, achieving transaction finality in approximately one second and ensuring that completed transactions are irreversible. Additionally, multiple blockchains can operate independently while communicating with each other, with each blockchain using its own custom tokens and governance rules.

FTM price chart

FTM serves as Fantom’s native utility token and fuels the ecosystem. It is used for payments, network fees, staking, governance activities, etc. This forms the backbone of transactions, enabling fee collection and facilitating staking to reward users for their participation.

At press time, Phantom’s price is $0.7185, down 10.87% in the last 24 hours. However, it soared by 8.92% over the past month. While the current sentiment for the token price prediction is neutral, the Fear and Greed Index shows a level of 72, which indicates greed among investors.

Phantom is trading above its 200-day simple moving average and is showing positive performance relative to the token sale price. Additionally, it boasts high liquidity relative to its market capitalization.

2. Kronos (CRO)

Cronos aims to enable real-time, low-cost global transactions by supporting decentralized crypto assets and applications. Cronos Cross Bridge Mainnet Beta shows a promising future for CRO by improving interoperability between blockchains.

CRO price chart

These developments could make CRO more attractive to developers and users. Recent market performance demonstrates strong confidence in CRO and presents it as an attractive investment opportunity in the volatile cryptocurrency market. Notably, Cronos has secured notable partnerships, including endorsements from Eminem and actor Matt Damon and collaborations with major sports teams.

You look great @PUUSHDABUTTON Building and launching the innovative memecoin launchpad platform. #crofarm 🚀
Take a look! https://t.co/ttP8mIoZkl
— Cronos (@cronos_chain) June 7, 2024

These partnerships, combined with technological advancements such as the Cronos cross bridge, are poised to have a positive impact on CRO’s market positioning and instill further confidence in its potential. At press time, CRO is trading at $0.1138, up 0.99% over the past seven days.

Despite this, the token declined by 0.71% intraday. The 14-day relative strength index (RSI) is 48.53, indicating a neutral position and potential sideways trading. Importantly, CRO is trading 22.14% above its 200-day simple moving average (SMA) of $0.093226, suggesting stable long-term performance.

3. Winner AI (WAI)

Winner AI In a limited time, we successfully raised over $5 million in the pre-sale phase. The current price of WAI token is $0.000712, but this price will increase within 42 hours. The platform aims to revolutionize the cryptocurrency market by providing advanced AI technology and high-yield staking opportunities.

Additionally, the project recently announced a new trading bot that is nearing completion. This bot utilizes machine learning to identify trading opportunities. Users enter basic criteria, such as risk tolerance or profit targets, and the bot analyzes market data to find suitable trades.

WienerAI’s token economics are designed to support the potential growth of the project. Of the total 69 billion WAI token supply, 30% has been allocated to pre-sale investors.

When WienerAI enters the public market, an additional 40% of tokens will be reserved for staking rewards and community incentives. These strategic allocations and compensation promises have sparked optimism among investors and fueled speculation about potential price increases.

furthermore, water It offers a set of utility-based features, making it a valuable tool for cryptocurrency traders. The project focuses on making predictive market analysis accessible to the average investor, with the goal of simplifying the trading process through an AI-based approach.

Visit WienerAI Presale

4. Injection (INJ)

Injective is a platform designed for finance, enabling next-generation DeFi applications such as decentralized exchanges, prediction markets, and lending protocols. It provides a unique infrastructure with an on-chain order book that resists decentralized Miner Extractable Value (MEV).

This setup supports a variety of financial markets and allows cross-chain bridging with Ethereum, IBC-backed blockchains, and non-EVM chains such as Solana. Additionally, the platform’s smart contract functionality, based on CosmWasm, facilitates advanced interchain functionality.

INJ price chart

Injective uses a Tendermint-based proof-of-stake consensus mechanism to ensure fast transaction finality and supports over 10,000 transactions per second. Injective has recently made significant progress, including permanently removing 12,266 INJ tokens, a clear sign of increased user activity.

The platform expects users to burn 6 million INJ tokens by next week. This continuous cycle of usage, monetization, and token burning reduces the circulating supply, potentially increasing the value of the token.

Injective is onboarding Gumi, one of the largest gaming giants, as its newest validator!
The addition of gumi to the Injective ecosystem will not only expand its role in the GameFi world, but also drive further adoption in Japan, Asia, and other regions 🌐https://t.co/taZhN8qyfN
— Injective 🥷 (@injective) June 7, 2024

Transparent and decentralized token burning auction further strengthens user trust and confidence. Additionally, Injective recently integrated leading gaming company gumi as a new validator. These inclusions strengthen Injective’s network, making it one of the largest proof-of-stake networks in history.

gumi, known for its popular mobile games and millions of active players, plans to explore GameFi with Injective. Last week, the price of Injective rose 16.79%. Current market sentiment for Injective is bullish, with a Fear and Greed Index score of 72, indicating greed.

5. Wormhole (W)

Wormhole has recently gained attention in the altcoin market due to its impressive performance. Known as an interoperability platform, Wormhole supports multichain applications and bridges, allowing liquidity and access to users across 30+ major blockchain networks.

This functionality extends to a variety of uses, including DeFi, NFTs, and governance, making it an essential component of the decentralized ecosystem. Last week, the price of W increased by 16.90%. However, it decreased by 3.17% the previous day.

W price chart

Nonetheless, the token has surged by 1,132.91% over the past six months. The current price is close to the resistance level of $0.74 and the support level of $0.51. The introduction of W staking for governance has been an important factor in this price surge.

Sold out $osETH It is now multichain by default and will continue to function. @decisionuses @worm-hole‘s Native Token Transfer (NTT) framework.@stakewise_io‘S $osETH It is now a liquid staking token accessible across the multichain ecosystem.
Learn more $osETH Under. ⬇️ pic.twitter.com/tDDA1x09f5
— Wormhole (@wormhole) June 5, 2024

Staking has captured the attention of investors by offering rewards and positioning token holders for potential future airdrops. Wormhole’s Relative Strength Index (RSI) shows a pattern of higher highs and lows, indicating the potential for continued price rises. This trend suggests that the price could reach $1.

Additionally, the token is showing positive performance relative to the token sale price and maintains high liquidity based on market capitalization. Wormhole’s recent achievements also highlight its role in improving interoperability within decentralized ecosystems. The introduction of staking and the observed RSI trend indicate potential continued growth and make it a project to watch in the coming months.