The 7 best Altcoins to invest in right now January 7 – STEPN, Optimism, Gala| Trending Viral hub

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Exploring tokens beyond Bitcoin opens up a world of diverse investment opportunities in the world of cryptocurrencies. As such, altcoins, alternative cryptocurrencies to Bitcoin, have gained significant traction.

However, choosing the best digital assets to maximize returns is crucial for investors looking to add these coins to their portfolios. Therefore, this article covers the best altcoins to consider for investment in the current market landscape.

The 7 best altcoins to invest in right now

The popularity of Ordinals sparked considerable interest in exploring Bitcoin-based solutions, expanding its usefulness beyond being solely a store of value. This growing interest generated a movement in which Stacks emerged as a beneficiary for its compatibility with Bitcoin, experiencing a significant increase of more than 200% in value during 2023. However, this upward trend only hints at the potential evolution expected in 2024.

1. STEPN (GMT)

Satoshi Lab projects achieved significant achievements in 2023 despite the prevailing challenges in the market. In particular, STEPN focused on wellness technology integrated with Apple Pay. Additionally, it collaborated with Apple Music to infuse rhythmic elements into the user’s movements. Strategic partnerships with influencers further enriched user experiences.

STEP Price chart

At the same time, MOOAR simplified NFT creation within the NFT realm with its Generative NFT tool. As such, it emerged as a leading #Solana and #Polygon marketplace. Additionally, GMT showed impressive 24-hour trading volumes following the launch of #MOOARBox and MOOAR+.

In the gaming space, STEPN launched GasHero on January 3, which has shown promising trading volumes on the Polygon blockchain. Financially, STEPN value rose to $0.438277 from its last cycle low, reflecting bullish price prediction sentiments.

Furthermore, the Fear & Greed index recorded 71 (Greed), indicating positive market sentiment. Ranked 45th in the Ethereum token sector (ERC20), #STEPN showed a 56% price increase over the past year. Furthermore, it is constantly trading above the 200-day simple moving average.

2. Toncoin (TON)

Ton Raffles recently pioneered a new fair launch method for its $RAFF token sale within the TON Blockchain, establishing an innovative approach to the ecosystem. This method ensured equal opportunities for all participants. Therefore, it created a level playing field from the inception of the token to its listing on DEX platforms.

TON price chart

The successful implementation of this fair launch highlights the growing interest in TON-based projects. Furthermore, Toncoin currently has a circulating supply of 3.46 Billion TON out of a maximum supply of 5.00 Billion TON.

Notably, the current annual supply inflation rate is 182.97%, generating 2.23 billion tons last year. In the market rankings, Toncoin is ranked #6 in the Proof-of-Stake coin sector and #10 in the Layer 1 sector. Highlights include a modest 2% price increase over the past year . Furthermore, the coin has been consistently trading above the 200-day simple moving average.

3. Gala (GALA)

GALA has exceeded growth expectations in 2023 and is poised for further expansion. Therefore, it has positioned itself as a formidable competitor among major game developers. The project’s emphasis on an ecosystem that caters to free-to-play AAA titles has been instrumental in attracting a growing user base.

GALA Price chart

GALA currently has a circulating supply of 27.36 billion tokens out of a maximum supply of 50 billion GALA. Notably, the annual supply inflation rate is 292.17%, which generated 20.39 billion GALA tokens last year. Over the last year, GALA has seen a price increase of 8%. Similarly, it is trading above its 200-day simple moving average, indicating a favorable trading position.

Furthermore, the token demonstrates high liquidity, backed by its market capitalization. Likewise, there is significant price growth potential, with the prospect of reaching 21 times the previous highs set in 2021. This growth trajectory aligns with GALA’s ambitions to solidify its position within the game.

4. Sponge V2 ($SPONGE V2)

He Sponge V2 has shown substantial growth since its inception. The project started with a valuation of $1 million and peaked with a market capitalization exceeding $100 million in 2023. Currently, it has a valuation of $16 million and has gathered a community of over 11,500 Headlines.

The project roadmap outlines plans for listings on primary exchanges, leveraging the support of a 30,000-member community. These strategic developments aim to position the $SPONGE V2 project for potential growth. Therefore, it attracts the interest of potential investors and explores opportunities within the cryptocurrency market.

Besides, Sponge V2 introduces the Stake-to-Bridge model. This model has been designed to facilitate a seamless transition for $SPONGE to V2 holders. As such, the project implements incentive strategies and retains existing incumbents through a participation mechanism.

5. Flow (FLOW)

Last year, Flow showed a 13% price increase and consistently traded above its 200-day simple moving average. This performance, along with positive results compared to the sale price of its token, indicates a relatively stable trajectory. Additionally, in the last 30 days, Flow experienced 16 days of positive growth, accounting for 53% of the period.

FLOW price chart

Forecasts for Flow in 2024 suggest a potential maximum price of $1.35. Furthermore, it has an average valuation of around $1.20 and a low estimate of $1.16. This outlook leans towards an upward trend.

However, this depends on Flow’s ability to forge strategic partnerships with influential industry investors and major blockchain networks. Collaborations of this nature could generate positive results for investors, making Flow an attractive investment option.

6.Uniswap (UNI)

Uniswap has seen notable fluctuations in price and market performance over the past year. The token has seen a 16% price increase over the past 12 months, trading above its 200-day simple moving average. Furthermore, it has shown an upward trend with 15 green days in the last 30, which constitutes a 50% positive trend.

UNI Price Chart

The highest price UNI has reached since its last cycle low is $9.74, marking a cycle high. Currently, sentiment analysis on Uniswap price prediction indicates a bullish outlook. This coincides with a fear and greed index of 71, which shows a period of greed in market sentiment.

Furthermore, crypto analysts foresee a possible resurgence and predict a retest of $8 by February 2024. The success and future growth of UNI largely depends on the platform’s ability to sustain innovation and adaptability within the DeFi sector.

7. Optimism (OP)

Optimism recently gained traction following its listing on Coinbase’s futures trading platform. This move has sparked interest, setting the stage for potential significant price moves.

Forecasts indicate a projected Optimism (OP) price range between $3.20 and $4.53 throughout 2024. Furthermore, the coin’s trajectory is supported by a thriving community and expanding user base. This suggests a likelihood of substantial value appreciation in the coming year.

ON price chart

Additionally, analysts anticipate a potential 20% increase. This depends on the market’s response to recent events, particularly Coinbase’s entry into futures trading for this cryptocurrency. The sentiment assessment surrounding Optimism’s price prediction leans towards a bullish outlook. Meanwhile, the Fear & Greed index currently registers at 71 (Greed).

Furthermore, trading activities indicate that it is above the 200-day simple moving average, showing a constant upward trend. Additionally, the coin has seen 16 positive trading days out of the last 30 (53%), highlighting a frequent pattern of gains.

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