Altcoins

Top 5 Altcoins to invest in for 2024

Published

8 months ago

14 June, 2024

Check out the updated list of the top 5 altcoins to invest in 2024, featuring BlockDAG alongside AVAX, Ethereum, Dogecoin and ADA.

Many companies come under scrutiny as the market fluctuates, each offering the potential for big gains and creative breakthroughs. BlockDAG is one to watch, with an impressive $48.8 million already raised and 11.4 billion coins in circulation.

The latest Moon Keynote 2 boosted BlockDAG’s appeal, unveiling crucial updates and the debut of the X1 mining app. This article highlights BlockDAG’s successes alongside other top altcoins like Avalanche, Ethereum, Dogecoin, and Cardano, all contenders for top investment picks in 2024.

1. Moon-Keynote 2 raises the profile of BlockDAG

BlockDAG continues to gain momentum with its notable achievements, fueled by the unveiling of the Moon Opening speech. This event covered the latest improvements and launch of the X1 mining application. From the launch of its mainnet to the expansion of its ecosystem, BlockDAG is moving closer to a decentralized vision.

BlockDAG claims a total fundraising of $48.8 million, with 11.4 billion coins in circulation, now in their 18th batch. BDAG coin, currently at $0.0122, is expected to rise to $0.014 in the next batch.

With an additional $3.2 million dedicated to mining and over 7,600 miners purchased, BlockDAG solidifies its place in the crypto space as the top investment choice for 2024.

In addition, the X100 mining machine is a titan in the field, with a hash rate of 2 TH/s and consuming 1800W. It can generate up to 2,000 BDAG per day, which could translate into a daily income of $100 at launch. It is perfect for experienced miners and large operations.

2. Avalanche (AVAX) faces price decline due to volatility

Avalanche (AVAX) price took a hit, continuing its downward trajectory last week. Bollinger bands suggest increased volatility in price movement, both daily and weekly.

An increase in trading volume goes hand in hand with an increase in available coins. Investors are wondering if it is still among the best altcoins for 2024, given its strong ecosystem and rebound potential.

3. Ethereum Price Forecast: Crucial Levels to Watch

The price of Ethereum recently rose beyond a downtrend, triggering a 21% increase. However, it encounters resistance from a previously established bearish order block, complicating further progress. Investors should keep an eye on critical retracement levels, which could dictate Ethereum’s future direction.

Could Ethereum maintain its status as the top altcoin for 2024 amid these fluctuations? If favorable conditions persist, Ethereum could approach its previous resistance level again. However, a daily close below vital support could alter the bullish scenario, possibly leading to a 9% decline.

ethereum crystal

4. Dogecoin responds to minor market adjustments

Dogecoin (DOGE) is seeing subtle changes in investor sentiment, with a slight decline of 0.67% over the past day. Remaining stable, DOGE demonstrates resilience in the face of market variations.

Cryptocurrency faces resistance at key level; exceeding it could call into question a higher psychological rating. Conversely, maintaining support is essential to avoid a decline. Technical indicators suggest a moderately bullish outlook and a balanced market.

5. Cardano price teeters on the brink of a plunge

Cardano price has fallen since its 2024 high, forming a downtrend known as the ascending triangle. This configuration forecasts a further drop of 17%. The Relative Strength Index (RSI) is struggling to rise above the midpoint, reinforcing negative forecasts.

Cardano appears poised to continue its descent, potentially stopping at some support levels before reaching its target. Investors should consider whether it will rank among the top altcoins for 2024, given its current trend and market circumstances.

astronauts sitting around a block miner

The final verdict

To conclude, the cryptocurrency investment landscape is rife with opportunities for savvy investors. BlockDAG stands out with its revolutionary X100 mining machine, capable of earning up to $100 per day, making it a favorite. As BlockDAG grows and gains $48.8 million in presale, it is able to outperform other cryptocurrencies like Avalanche, Ethereum, Dogecoin, and Cardano. With cutting-edge technology and a strong market presence, BlockDAG is poised to become the most notable altcoin for investment in 2024.

Invest in BlockDAG Presale Now:

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu

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Fuente

Altcoins

Long-Term Impact of Ethereum ETF on Cryptocurrency Market

Published

6 months ago

29 July, 2024

CoinFlix Staff

Long-Term Impact of Ethereum ETF on Cryptocurrency Market

Popular crypto analyst Michael van de Poppe has highlighted his altcoin portfolio approach in light of the new Ethereum ETF. In a recent Youtube videoThe analyst explained the measures he would take for this major market event.

The Ethereum ETF was listed on the stock exchange and it took time to get approval and so far there has been no significant change in price. The analyst pointed out that the long-term effect could be quite significant, comparing it to the situation of the Bitcoin ETF where the initial decline was followed by large inflows.

According to Van de Poppe, the Ethereum ETF’s trading volume on the first day of trading was about 25% of the volume Bitcoin ETF He noted that the first day of trading was marked by low inflation, and said there was a net inflow of $150 million to $160 million, which reduced the available supply.

Altcoins are poised for growth

The analyst said that as Ethereum adoption increases in the future, the supply of Ethereum will decrease, which is a deflationary model. Ethereum is up about 15% since the ETF approval, the broader market reaction has yet to happen as several sell-offs have taken place, including the Grayscale Trust.

Van de Poppe also mentioned other important market events, including the end of Mount Gox The process of repaying creditors initially caused tensions in the markets, but had little effect subsequently. It also highlighted the role of macroeconomic factors, which can lead to Fed rate cuts, which can affect markets.

In this regard, looking at van de Poppe’s strategy, he is still keen to trade within the altcoins of the Ethereum ecosystem. He stated that there is a possibility of short-term price fluctuations that may discourage many people, but the long-term still looks good due to the improvement and adaptation that has been made to Ethereum and its environment.

According to the analyst, substantial inflows could propel Ethereum towards new historic highs with estimates ranging from $5,000 to $7,000. Despite the current market fluctuations, he is confident that macroeconomic changes and greater liquidity will be favorable for altcoins.

He explained that his broad approach to altcoins, especially those associated with Ethereum, will be beneficial because the market will react differently to these events. The basis for his optimism comes from the fact that he believes that Ethereum and all associated projects are still extremely undervalued and have the potential to skyrocket as sentiment changes.

Looking ahead and market adjustments regarding the Ethereum ETF and other macroeconomic factors, the analyst remains bullish on altcoins. He suggested investors stay informed and believe that in the ever-changing world of crypto, they will eventually be rewarded.

Fuente

Altcoins

Altcoins Are Severely Undervalued, Awaiting Ethereum Move | Flash News Detail

Published

6 months ago

28 July, 2024

CoinFlix Staff

IntoTheBlock Releases Report on Institutional DeFi Trilemma

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Fuente

Altcoins

Altcoins Correct Amid ETH Decline, Grayscale Outflows | Flash News Detail

Published

6 months ago

28 July, 2024

CoinFlix Staff

Disclaimer

Fuente

Altcoins

Epic Altcoin Rally Expected for August and September

Published

6 months ago

28 July, 2024

CoinFlix Staff

Crypto analyst predicts massive altcoin rally similar to Q1 2024, urging patience and accumulation.
Bitcoin’s potential as a reserve asset and its technical patterns suggest that it will drive the rise of the cryptocurrency market.

Captain Faibik, a renowned crypto analyst, has created excitement in the cryptocurrency sector with his latest prediction. He indicated that we are on the cusp of a massive altcoin rally, similar to the one we saw in Q1 2024.

We are on the verge of a massive Altcoin rally, similar to Q1 2024📈

Keep accumulating and hold with patience. (Patience will be rewarded)

The majority of #Altcoins have already hit rock bottom and are about to escape.

In my opinion, August-September is going to be epic for Altcoins.🚀🚀#Crypto pic.twitter.com/cMdHagiaYc

— Captain Faibik (@CryptoFaibik) July 24, 2024

Accumulating and Holding Altcoins: The Path to Potential Profits

He stressed the need to accumulate altcoins and hold them patiently, as it will eventually pay off. According to him, the majority of altcoins have already bottomed out and are about to break it. He believes August and September will be epic months for altcoins.

In a chart posted by Captain Faibik, the overall crypto market cap, excluding Bitcoin and Ether, known as TOTAL3, is approaching the upper boundary of a descending channel pattern.

This context suggests a potential breakout and a significant rally towards the $1 trillion mark. Technically, the decline since mid-March is interpreted as a corrective trend for the value of TOTAL3, signaling a preparation to enter a rally structure.

Bitcoin’s influence and legislative developments suggest good prospects for the future

Furthermore, based on sentiment and technical patterns, Bitcoin, the world’s leading cryptocurrency, appears poised to lead the charge in the cryptocurrency market. Bitcoin’s performance often sets the tone for the market as a whole, and a strong move in BTC could trigger a significant rally in altcoins.

Previously, as we have already said reportedSenator Cynthia Lummis said she plans to introduce a bill at the upcoming Bitcoin conference that would require the Federal Reserve to hold Bitcoin as a reserve asset.

If this law passes, the US will treat BTC as a long-term investment rather than selling huge amounts infrequently, which could disrupt the market.

In addition, asset management firm VanEck has proposed a bold scenario in which Bitcoin Price Could Reach $2.9 Million Per BTC By 2050based on its fundamental outlook. Matthew Sigel, head of digital assets at VanEck, and senior investment analyst Patrick Bush noted that their estimate is based on Bitcoin’s adoption as a global medium of exchange and reserve asset.

As Bitcoin price increases, altcoins are expected to gain popularity, indicating the start of a bullish rally shortly after the BTC halving event.

Meanwhile, at the time of writing, the price of BTC was hovering around $67,007.99up 4.67% over the past 24 hours following a short-term correction.