Top Cryptocurrencies to Invest in Now
The SEC approved trading several exchange-traded funds (ETFs) linked to the spot price of Bitcoin, marking a significant milestone after more than ten years of discussions.
The SEC approval covers 11 ETFs, with major players like BlackRock, Ark Investments/21Shares, Fidelity, Invesco, and VanEck involved. This decision comes after months of talks between regulatory bodies and these investment firms.
Furthermore, BlackRock’s iShares Bitcoin Trust and Grayscale Bitcoin Trust have already initiated trading in the early premarket hours. The VanEck Bitcoin Trust, Invesco Galaxy Bitcoin ETF, and ARK 21Shares Bitcoin ETF are anticipated to commence trading shortly.
1. Ripple (XRP)
XRP is priced at $0.596589, boasting a 24-hour trading volume of $3.93B and holds a market dominance of 1.83%. Ripple ranks 5th in the Layer 1 sector, based on market cap.
The sentiment surrounding XRP’s price prediction remains neutral, aligning with a Fear & Greed Index score of 76, indicating extreme greed. Ripple’s performance presents positive signs, characterized by a consistent price increase and substantial liquidity based on its market cap.
2. Arweave (AR)
Arweave has experienced a 22% price increase over the past year, consistently trading above its 200-day simple moving average. In the recent 24-hour period, the AR token recorded a 13.96% price surge. Investors currently show optimism, as indicated by a Fear & Greed Index score of 76, reflecting extreme greed.
3. Toncoin (TON)
Toncoin has observed an 8% price increase, with a recent 2.83% rise in the last 24 hours. After a period of underperformance in recent months, this upturn in Toncoin’s value has gathered attention from investors.
4. Sponge V2 (SPONGEV2)
Sponge V2 witnessed a significant change last year, marked by a remarkable increase in market capitalization from $1 million to $100 million. This shift indicates the project’s commitment to strengthening its market presence, presenting opportunities for current and prospective investors.
5. Polygon (MATIC)
Libre is set to launch a dedicated chain utilizing the Polygon Chain Development Kit (CDK). The aim is to facilitate widespread access to global alternative investment funds. This platform is specifically designed to adhere to legal and regulatory compliance standards.
It grants regulated institutions worldwide the capability to generate and issue their own on-chain tokenized assets. Furthermore, the price of MATIC showed a 5.59% increase last year, indicating a positive trajectory. Polygon ranks 8th in the Proof-of-Stake Coins sector and 4th in the Ethereum (ERC20) Tokens sector.
Hot Take
Several cryptocurrencies are demonstrating upward price movement, potentially presenting exciting investment opportunities. By carefully analyzing the market situation and key trends, you can identify the best cryptocurrencies to invest in right now with substantial growth potential.
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.