Altcoins
Is it gaining strength again or is it dying out? Don’t Miss These 5 Best Altcoins to Buy
The cryptocurrency market is full of rumors about the return or end of the altcoin season. With this lack of certainty, few altcoins make headlines. Today we will highlight the top five altcoins of the moment: KangaMoon (KANG), Ethena (ENA), Solana (SOL), Arbitrum (ARB), and NEAR Protocol (NEAR).
1. KangaMoon (KANG)
The first place on our list of best altcoins belongs to KangaMoon (KANG). This pre-sale rising star has already secured over $6.4 million and could reach $7 million before the end of May 2024. KangaMoon also has over 20,000 registered community members and over 6,000 KANG holders . As the altcoin season begins to heat up, KANG could be among the best to watch.
According to Yahoo Finance, the Play-to-Earn (P2E) gaming market could reach a value of $885 million by 2028. KangaMoon aims to capitalize on this growth by creating a P2E game. Players can use the KANG altcoin to purchase in-game items and upgrade their characters in this game.
SocialFi’s innovative features, unique to KangaMoon, set it apart. Just before the official launch, KangaMoon offered free KANG tokens to the most active users. This development has caused a frenzy among traders who rush to like, share and comment on KangaMoon’s posts on social media.
KANG is now priced at just $0.0196 in stage 5 of its presale; however, it is already showing an impressive growth of 290% from its initial price of $0.005. But this is only a starting point: further price increases are expected to follow as the project development stages are completed. Experts predict that the price of this altcoin could increase 50 times once listed on a Tier 1 CEX in Q2 2024.
2. Ethena (ENA)
Next up, Ethena (ENA) is another altcoin that has been making waves. Ethena uses the power of its unique stablecoin, USDe, to create an artificial dollar that can be easily integrated into different DeFi applications. As the altcoin season could begin, Ethena could be considered one of the best thanks to its forward-thinking roadmap.
Ethena’s price has increased from $0.63 to $0.75 in the last 30 days alone and the market cap has increased from $824 million to $1.07 billion. In addition, three technical indicators of this altcoin are now green. Thus, analysts have made a bullish forecast for the price of Ethena. They forecast an increase to $1.11 for ENA in the second quarter of 2024.
3. Solana (SOL)
Solana (SOL) has established itself as a significant player by providing high throughput and scalability for dApps and smart contracts. Furthermore, with more and more projects being developed every day, this cryptocurrency continues to attract the attention of traders. Solana’s growth potential makes it one of the best altcoins throughout the season.
SOL’s price rose from $22.26 to $120 in the past year alone and its market capitalization increased from $8.78 billion during that time to $53.91 billion. Additionally, the Solana crypto is now trading above its 50-day and 100-day EMAs. Therefore, experts predict a rise to $183 before the end of Q2 2024 in their Solana price predictions.
4. Arbitration (ARB)
Another altcoin to watch is Arbitrum (ARB), the L2 scaling solution for Ethereum. With the growing demand for scalable DeFi alternatives, Arbitrum is expected to live up to expectations and generate profits during this altcoin season.
Recently, Arbitrum price has been fluctuating between $1.18 and $0.99 on the 1-week chart. Arbitrum’s market capitalization moved between $3.17 billion and $2.63 billion during this period. However, technical analysis of this altcoin shows a bullish future. For example, ARB is trading above its 50-day EMA. As a result, market analysts predict a potential rise to $1.52 in the second quarter of 2024.
5. NEAR Protocol (NEAR)
NEAR Protocol (NEAR) is the last on our list of promising altcoins. It becomes famous because of its easy-to-use platform for developers. NEAR has various projects as it devotes a lot of effort to community development. Considering that an altcoin season might be starting, NEAR can be considered one of the best altcoins around.
Regarding the price of NEAR, it increased from $1.83 to $5.90 in the past year alone. The market capitalization of NEAR Protocol increased from $1.65 billion to $6.29 billion during this period. Additionally, the NEAR Protocol coin is now trading above its 50-day and 100-day EMAs. Thanks to 10 green technical indicators, experts predict a jump to $9 for this altcoin before the end of the second quarter of 2024.
What are Altcoins?
Any digital currency developed since the birth of Bitcoin (BTC) is an altcoin. Many of them are designed for many different reasons, such as powering smart contracts, as a medium of exchange, etc.
Why should you buy Altcoins?
There are a few things to consider when deciding whether or not to buy altcoins and you need to balance the potential rewards and risks. Here are some of the reasons why people might want to buy altcoins.
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Higher returns expected: Compared to Bitcoin or traditional assets, some altcoins have higher earning potential.
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Innovative technologies: Much like Bitcoin, many other alternative currencies offer creative technologies and use cases.
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Diversification: A wide range of cryptocurrencies can help diversify an investment portfolio by spreading across different assets, thereby reducing overall risks.
Conclusion
Altcoin season looks set to make a comeback and many cryptos could soar. Among them, KangaMoon, Ethena, Solana, Arbitrum and NEAR Protocol stand out. However, one of them has a major advantage: KangaMoon’s low market capitalization of $19.6 million. This means it needs much less new funding for its price to rise. Therefore, KANG is one of the best altcoins to invest in.
If you’re interested, sign up for its presale using the links below and get a 10% bonus on every purchase.
Discover the exciting opportunities of the KangaMoon (KANG) presale today!
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