May 24 6 Best Altcoins to Invest Now – Synthetix, Litecoin, Near Protocol, Polygon

adminMay 24, 2024

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While Bitcoin awaits a breakthrough, the action has shifted to Ethereum following ETF approval in the US. This approval boosted sentiment in the cryptocurrency market. This sentiment has driven the prices of some altcoins higher.

As a result, there is great interest in identifying currencies that can generate significant returns as investors anticipate a bullish trend. In this article, we analyze various cryptocurrencies that are set to potentially perform strongly. It also provides valuable insight for those looking to make the most of the impending upturn.

6 best altcoins to invest in right now

Polygon recently released the game on Google Play and Apple Store. This move demonstrates the growing adoption of scalable and efficient blockchain solutions within the gaming industry. Meanwhile, Global cryptocurrency market The excitement caused XRP’s daily trading volume to increase by 130% in 24 hours.

Additionally, Solana’s recent blockchain venture is also attracting attention. Among them is Mega Dice, a gaming and gambling token that has been rapidly gaining popularity since pre-sales began. Mega Dice has raised over $1.3 million, indicating significant interest in this new concept.

1. Synthetix (SNX)

Synthetix removes barriers to entry into the cryptocurrency market. Simplifies processes such as setting up a wallet, linking assets, and managing gas fees. It features cross-chain functionality and emphasizes user-friendly security measures such as passkey authentication and social login.

Meanwhile, Synthetix co-founder Kain Warwick recently launched Infinex. This project is a front-end interface that simplifies access to DeFi apps. Synthetix is also going through a pivotal phase with the launch of V3. It aims to introduce a new foundation and architecture for the protocol.

Synthetix price chart

Synthetix traded at $2.96, up 10% in seven days. The coin is showing signs of breaking through the 9-day and 21-day moving averages. Bullish activity is emerging again on the daily chart, which suggests that the token could reach resistance levels of $4.00, $4.15, and $4.30 if buyers push the price above the moving average.

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Moreover, a bullish move above these resistance levels could further stimulate buying interest. The value of SNX may be affected by ongoing developments and increased adoption within the cryptocurrency community. TVL is close to $3 million, a significant increase from $1 million 10 days ago.

2. Ripple (XRP)

XRP has fluctuated between $0.5107 and $0.5446 over the past 24 hours. Additionally, the token shows potential for further upside on the daily chart. XRP also exhibits high liquidity relative to its market capitalization, reinforcing an active trading environment.

Meanwhile, technical analysis suggests that XRP could potentially reach $0.68 if the current upward trend continues. Meanwhile, the token has risen 1779% since launch. As XRP continues to attract attention with its dynamic performance, market participants remain alert to potential volatility.

XRP price chart

Additionally, XRP saw its trading volume surge by 130.02% in the last 24 hours, largely driven by intense derivatives activity. This surge is equivalent to 3,085,815,960 XRP traded, indicating significant liquidity on major exchanges to meet growing market demand.

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Adequate liquidity is important for XRP to reach its long-term target price of around $1. XRP’s perpetual futures trading volume growth was notable at $661.08 million, indicating increased interest in the token’s performance. The current price of XRP is around $0.5213 per token, up around 2% in 7 days.

3. Polygon (MATIC)

Polygon provides a practical and effective platform for blockchain gaming technology. This unique product and positioning contributed to its growing popularity. Polygon usage is expected to grow significantly due to integrations with major platforms such as Google and Apple.

Polygon’s growth has also been remarkable, driven by innovative technology and a strong user base. Recently, the platform launched the game on Google Play and Apple Store. This move highlights the expanding use of Polygon’s scalable and efficient blockchain solutions for gaming.

polygon price chart

The price of MATIC is $0.714 at the time of writing and is up 2% over the past 7 days. Despite falling 1% in the last 24 hours, it is still 17,786% above its launch value. This performance shows positive growth compared to the initial token sale price.

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Meanwhile, Polygon maintains high liquidity relative to its market capitalization, showing active market activity. Despite the bearish sentiment towards the current price forecast, the Fear and Greed Index shows a value of 76, indicating extreme greed. MATIC’s fundamental interest and optimism stems from its utility in the blockchain ecosystem.

MATIC is also used to pay for services on the Polygon network, known for its speed and low transaction costs. If this availability and positive sentiment continues, MATIC could maintain its current stability or potentially increase in value. Moreover, Ethereum’s recent update, which has resulted in significant reductions in transaction fees, positions Polygon as a strong candidate for a bullish trend.

4. Mega DICE

mega dice, the established casino aims to transform GameFi. These tokens play an important role in Mega Dice’s gamification plans by rewarding current users and attracting new users. Surprisingly, Mega Dice plans to become a pioneer in crypto casinos and offer daily rewards based on platform performance.

Solana’s latest blockchain venture is gaining attention. Among them is Mega Dice (DICE), a gaming and gambling token that has been rapidly gaining popularity since pre-sales began. Mega Dice has raised over $1 million, indicating significant interest in this new concept.

Mega Dice pre-sales have been remarkably successful so far. The project has achieved significant funding milestones, demonstrating strong demand for its tokens. Due to its accessibility and limited availability, people are eager to acquire $DICE tokens.

Currently, the price of each $DICE token is $0.075. Those interested can connect their wallets and exchange SOL, ETH or BNB for $DICE tokens. Mega Dice has sold 19,005,462 worth of $DICE to date.

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Meanwhile, they allocated 15% to player airdrops, 15% to liquidity pools, and 15% to the casino’s $DICE pool. Another 10% will be used as rewards for token stakers and the remaining 10% will be allocated to marketing and other contracts.

mega dice Ensure pre-sales are included. After the pre-sale, they aim to list the $DICE token on a decentralized exchange (DEX) to potentially increase its popularity. Notably, pre-sales raised over $1.3 million.

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5. Litecoin (LTC)

Litecoin has recently witnessed massive trading activity. Over the past month, major investors have shown great interest in the token, accumulating over 2.75 million LTC. This suggests that whales have plans to hold on to LTC assets, adding strong positivity and confidence in Litecoin’s future.

Meanwhile, Litecoin uses blockchain technology to facilitate fast, secure, and cheap transactions. Despite the recent bullish trend in the cryptocurrency market, Litecoin’s performance has yet to make a significant impact. However, it has seen steady growth over time.

Litecoin price chart

LTC is trading at $84.74, down 1% over the last 24 hours. However, supported by trend lines and important moving averages, it has shown a positive trajectory, with an increase of 3.90% over the past week. Sentiment around Litecoin’s price prediction is bullish, with the Fear and Greed Index scoring 76, indicating ‘extreme greed’.

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Additionally, Litecoin trading above the 200-day simple moving average further supports this positive sentiment, indicating a favorable position. As trading volume increases and chart setups continue to attract potential investors, Litecoin’s price could experience bullish momentum aiming to overcome the $100 barrier in the coming days.

6. Near Field Protocol (NEAR)

The NEAR Protocol is the leading consumer blockchain for mainstream applications, facilitating millions of transactions every day. The roadmap emphasizes democratizing AI ownership. Our vision is to continue efforts to expand usability and scalability, including implementing sharding.

Altcoin trading activity has become more active recently. Additionally, demand has increased in the open interest market, suggesting that prices may rise. The strategic collaboration further strengthened NEAR’s position, driving demand and network activity.

Near Protocol price chart

NEAR has shown resilience despite the market downturn, up 10% month-on-month and 370% YTD. This surge is consistent with a broader trend in AI-related tokens. This trend reflects the AI industry’s growing momentum as it launches new products.

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Technical analysis suggests bullish sentiment towards the NEAR Protocol. The current trading price is $7.69, accompanied by high liquidity and market activity. The token is trading 399.04% well above its 200-day simple moving average (SMA). Analysts predict potential further growth, predicting that the NEAR protocol could reach $12 by the end of the year.