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These top 7 altcoins are poised for investment this month. Gala, Chiliz, and Render, among others, offer promising opportunities for crypto enthusiasts.
Bitcoin, as the leading cryptocurrency, currently maintains a dominant market share of 51.81%. However, it experienced an intraday decrease of 0.30%. Thus indicating a potential shift in investor sentiment or asset allocation within the market.
7 Best Altcoins to Invest In Right Now
Stablecoins, a category of cryptocurrencies designed to maintain a stable value, played a substantial role, with a total trading volume of $32.94 billion. This figure accounted for 85.72% of the total cryptocurrency market’s 24-hour trading volume, emphasizing their crucial role in facilitating trading and providing stability within the market.
1. Trust Wallet Token (TWT)
Trust Wallet Token (TWT) has recently experienced a noteworthy price increase, surging by a significant 18% within the past week. This impressive rise has brought the token’s value close to its peak in April. The surge can be attributed to the recent listing of TWT on Binance Futures, a prominent cryptocurrency exchange.
Moreover, including TWT in the Binance Futures market has garnered substantial interest. Trust Wallet, closely associated with Binance, is actively working to expand its presence and diversify its range of trading options. Hence offering a strategic advantage to its user base.
Furthermore, such strategic moves towards major cryptocurrency exchanges typically trigger increased price activity. In the case of TWT, the token’s value witnessed an immediate 22% surge. Therefore underscoring the significant impact of such listings on digital asset prices and igniting enthusiasm within the market.
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— Trust Wallet (@TrustWallet) November 6, 2023
TWT’s price currently stands at $1.62, with a 24-hour trading volume of $267,355,114. Over the past 24 hours, TWT has seen a remarkable increase of 25.68%.
2. Gala (GALA)
Gala has laid an ambitious roadmap for its future development, forming partnerships with prominent players in the gaming industry. This suggests its intent to establish a substantial presence in the sector. Moreover, the Gala Coin is gaining momentum and exhibits potential for significant price appreciation in the future.
As such, predictions suggest that the GALA may reach a maximum price of $0.059 by year’s end. However, this forecast is contingent upon the prevailing bullish trend in the cryptocurrency market. Under similar market conditions, the expected average trading price for GALA in 2023 is estimated to hover around $0.043.
Over the last 30 days, GALA has witnessed 19 green days, accounting for 63% of its recent performance. It is currently trading close to its cycle high. The token is considered to have high liquidity based on its market capitalization.
3. Chiliz (CHZ)
Chiliz is an altcoin project that has caught the attention of Turkish investors. Hence, it has shown a notable price structure in recent times. The coin’s two-hour chart shows a distinct rising channel formation, which may attract investor interest. However, investors must exercise caution when the price approaches the resistance line, which often triggers selling pressure.
Furthermore, key support levels for Chiliz are currently at $0.06998, $0.06830, and $0.06552. A closing price below $0.06552 could disrupt the current formation. On the other hand, resistance levels to monitor include $0.07181, $0.07368, and $0.07512.
Furthermore, Chiliz is trading above the 200-day simple moving average. It has experienced 19 green days out of the last 30, accounting for 63% of the trading period. It’s worth mentioning that Chiliz is trading near its cycle high and boasts high liquidity based on its market capitalization.
4. Bitcoin ETF Token (BTCETF)
Bitcoin ETF Token is a newly introduced cryptocurrency project that seeks to capitalize on the impending approval of a Bitcoin Exchange-Traded Fund (ETF). It consolidates this potential into a single token, enabling investors to enhance their exposure to this development.
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— BTCETF_Token (@BTCETF_Token) November 6, 2023
For typical investors, potential gains from Bitcoin, even with the advent of an ETF, may hover around 1-3 times its present value. However, the novel project, BTCETF, focuses exclusively on the ETF approval process. As such, it could offer more substantial returns due to its relatively low market capitalization.
The BTCETF token has a total supply of 2,100,000,000 tokens, with 40% accessible during the presale, commencing for $0.0005 per token. An additional 25% of the tokens have been designated for community rewards.
In comparison, the remaining 25% will be burned as the project achieves specific milestones. The last 10% of tokens have been reserved for exchange liquidity, ensuring a smooth process for buying and selling BTCETF tokens. At its current stage of being in the presale, early investors can participate in this project.
Visit the Bitcoin ETF Token presale.
5. Render Token (RNDR)
Render has recently executed strategic moves in the blockchain and cryptocurrency sectors. The platform has chosen to migrate to the Solana blockchain, renowned for its scalability and swift transaction processing. This decision aligns with RNDR’s dedication to technological innovation and enhancing services for its expanding user base.
Additionally, RNDR has unveiled a comprehensive incentive program designed for node maintainers, reaffirming its commitment to network expansion. This program invites node operators utilizing various compute clients to join RNDR’s network.
Therefore enabling them to earn substantial RNDR rewards. These developments strengthen RNDR’s position at the intersection of blockchain and artificial intelligence, fostering innovation and community growth.
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— The Render Network (@rendernetwork) November 3, 2023
Render Token’s key highlights include a 155% increase in price over the past year. It outperformed 95% of the top 100 cryptocurrencies during this period. Moreover, it has outperformed Bitcoin and Ethereum and trades above the 200-day simple moving average.
In the last 30 days, RNDR has experienced 20 green days, accounting for 67% of the observed period. Thus indicating relatively high liquidity based on its market capitalization.
6. Arbitrum (ARB)
Arbitrum has recently approved a governance proposal enabling ARB token holders to engage in staking. This arrangement allows participants to earn yields in tokens, with funding sourced from the Arbitrum treasury and disbursed over 12 months via a smart contract.
The estimated annualized percentage yield for stakers is projected to range from 7.84% to 78.43%. However, this depends on the percentage of the ARB supply that is staked. This approach is distinctive in allowing stakers to earn token rewards from the treasury.
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— Arbitrum (💙,🧡) (@arbitrum) November 3, 2023
At present, the sentiment surrounding Arbitrum is bullish. Also, the Fear & Greed Index reflects a score of 74 (indicating “Greed”). With a circulating supply of 1.28 billion ARB tokens, Arbitrum is trading above the 200-day simple moving average. Moreover, it has witnessed 16 green days in the last 30 days (constituting 53%) and is currently trading close to its cycle high.
7. Stellar (XLM)
The XLM coin has displayed a bullish trend recently, testing the $0.119 price level and aiming for higher values. This positive momentum aligns with the broader market’s recovery, and there are indications that Stellar (XLM) may see a favorable conclusion in 2023.
Over the last 20 days, XLM has experienced a 23% price increase, marked by multiple breakouts and a strong bullish trend. Notable technical patterns, including a trendline breakout and an inverted head and shoulder pattern, contribute to this optimistic outlook.
As XLM approaches the 38.20% Fibonacci retracement level, the presence of long wick candles suggests a possible retracement to $0.119. Nevertheless, the high-speed uptrend, coupled with overall bullish market conditions, hints at the possibility of a breakout rally.
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