5 Best Altcoins to Invest in Right Now
The market is inching closer to an upward trend, and altcoins offer a great opportunity to capitalize on the bulls. However, selecting the ideal altcoin for your portfolio demands thorough research. Hence, Insidebitcoins eases the process by spotlighting a selection of top-performing altcoins that merit investor attention.
1. Helium (HNT)
As the market shifts towards a sustained green phase, particular tokens are attracting attention for their investment potential. Helium, Ronin, and Conflux are emerging as standout altcoins. These tokens are well-placed as portfolio contenders, showcasing distinctive attributes and promising market upsides.
Helium is actively surging in January, striving to reach the $8.00 mark. HNT experienced a bullish December 2023, driven by positive sentiments surrounding spot Bitcoin ETF approvals. Consequently, it resulted in an $800 million surge in HNT’s market capitalization since early December.
Helium is gathering the market’s interest, with the presale of $TUK tokens currently underway. It has raised $808,298.39 out of the targeted $844,058. Each $TUK token is priced at $0.02625 during the presale period, allowing early investors to acquire tokens at a discounted rate.
2. Conflux (CFX)
CFX’s recent collaboration with BlockBooster caused a surge in interest from investors. On that note, Conflux is pressing forward with another significant development in its network. On January 30, 2024, Conflux (CFX) announced its plan to create a Bitcoin L2 space within its network. As with the former partnership, this news sparks excitement within the Conflux community.
The introduction of Conflux’s Bitcoin L2 Space aims to revolutionize the network by enabling the collection of gas fees in BTC. Hence, this move will drive demand for Conflux’s services and trading activity for CFX. Therefore, analysts predict a potential 44.0% increase in CFX’s value to $0.3403, propelling CFX to the top ranks of cryptocurrencies.
3. Huobi Token (HT)
Huobi Token shows promising signs despite the market’s outlook. With a 6.01% intraday surge, HT hit $2.97, marking a positive move from its recent low of $3.19. Moreover, investors are bullish on HT. Also, the Fear & Greed is at 60, keeping it above a 200-day simple moving average.
Analyzing key indicators, the 14-day Relative Strength Index (RSI) is 59.47. Hence, this signals a neutral stance and potential sideways movement in the near term. In addition, HT witnessed 16 green days out of the last 30, which is 53% positive trading days. Also, Huobi Token’s price volatility remains relatively low, with a 30-day volatility of 11%.
4. eTukTuk (TUK)
The eTukTuk project is poised to transform transportation infrastructure in developing nations actively. By integrating electric vehicles and charging stations and offering blockchain technology, eTukTuk actively aims to change how people travel in these regions.
Moreover, eTukTuk is gathering the market’s interest, with the presale of $TUK tokens currently underway. It has raised $808,298.39 out of the targeted $844,058. Each $TUK token is priced at $0.02625 during the presale period, allowing early investors to acquire tokens at a discounted rate.
5. Ronin (RON)
Recent analysis indicates a strong uptrend in the Ronin crypto since late November 2023, with its price skyrocketing from $0.8000 to over $3.000. This surge forms an ascending wedge pattern, suggesting a potential continuation of the upward momentum. After bouncing off support levels around $0.8000 and $1.7500, Ronin has shown notable bullishness. As such, it has broken through resistance levels, indicating the possibility of achieving new highs.
Hot Take
The altcoin market is showing promising upturns with standout performers like Helium, Conflux, Huobi Token, eTukTuk, and Ronin showcasing their potential. It’s an opportune time to conduct a thorough analysis and consider adding these altcoins to your investment portfolio for substantial growth and returns.
Insa’s extensive background in the financial realm encompasses roles as a writer, trader, and personal finance coach. Her proficiency spans a wide spectrum, ranging from commodities and indices to forex and cryptocurrencies. Insa’s specialization lies in furnishing strategic investment advice tailored to the fintech investment niche.