Blockchain

6 Best Altcoins to Invest in Now May 24 – Synthetix, Litecoin, Near Protocol, Polygon

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While Bitcoin awaits a breakout, the action has shifted to Ethereum after the ETF approval in the United States. The approval has boosted sentiment in the crypto market. This sentiment has catapulted select altcoins higher.

Consequently, as investors anticipate a bullish trend, there’s a keen interest in identifying the currencies that could yield substantial profits. This article analyzes various cryptocurrencies set for potentially robust performance. It also provides valuable insights for those seeking to make the most of the impending upswing.

6 Best Altcoin to Invest in Now 

Polygon recently launched a game on Google Play and the Apple Store. This move demonstrates the growing adoption of its scalable and efficient blockchain solutions within the gaming industry. Meanwhile, the global crypto market excitement has seen XRP’s intraday volume surge by 130% in 24 hours. 

Furthermore, Solana’s recent blockchain ventures are gaining notice. Among them is Mega Dice, a gaming and gambling token swiftly gaining popularity since its presale commenced. Mega Dice has raised over $1.3 million, indicating significant interest in this novel concept.

1. Synthetix (SNX) 

Synthetix eliminates entry barriers into the crypto market. It simplifies processes like wallet setups, asset bridging, and managing gas fees. It features cross-chain capabilities and emphasizes user-friendly security measures such as passkey authentication and social sign-ins

Meanwhile, Synthetix co-founder Kain Warwick recently introduced Infinex. The project is a front-end interface that simplifies access to DeFi apps. Synthetix is also undergoing a pivotal phase of its V3 rollout. It aims to introduce a new foundation and architecture for the protocol. 

Synthetix was trading at $2.96, with a seven-day increase of 10%. The coin shows signs of crossing above the 9-day and 21-day moving averages. On the daily chart, bullish activity is returning, suggesting that if buyers push the price above these moving averages, the token might reach resistance levels of $4.00, $4.15, and $4.30. 

Moreover, a bullish move above these resistance levels could further stimulate buying interest. The value of SNX may be affected by ongoing developments and increased adoption within the crypto community. Its TVL approaches the $3m mark, remarkably up from $1m 10 days ago.

2. XRP (XRP)

XRP oscillates between $0.5107 and $0.5446 over the past 24 hours. The token also displays a potential for a further increase on its daily chart. Furthermore, XRP exhibits high liquidity relative to its market cap, strengthening its active trading environment.

Meanwhile, technical analysis indicates that XRP could potentially reach $0.68 if the current upward trend persists. Meanwhile, the token is up 1779% since its launch. As XRP continues to attract attention with its dynamic performance, market participants remain vigilant for potential volatility.

XRP price chart

Furthermore, XRP has seen a trading volume surging by an impressive 130.02% within the past 24 hours, primarily fueled by intense derivatives activity. This surge equates to 3,085,815,960 XRP being traded, indicating substantial liquidity to meet the growing market demand across major exchanges. 

Adequate liquidity is crucial for XRP to reach its long-targeted price level of around $1. The increase in turnover of perpetual futures on XRP has notably risen to $661.08 million, indicating heightened interest in the token’s performance. Currently, XRP is priced around $0.5213 per token, with a seven-day increase of around 2%.

3. Polygon (MATIC)

Polygon offers a practical and effective platform for blockchain gaming technology. This unique offering and positioning have contributed to its rising popularity. Integration with major platforms like Google and Apple suggests significantly increasing Polygon usage.

Furthermore, Polygon’s growth has been remarkable, driven by its innovative technologies and robust user base. Recently, the platform launched a game on Google Play and the Apple Store. This move highlights the expanding use of Polygon’s scalable and efficient blockchain solutions for gaming.

Polygon price chart

MATIC’s price was $0.714 at the time of writing, having increased by 2% in the last seven days. Despite a 1% dip over the previous 24 hours, it is still over 17,786% above its launch value. This performance shows positive growth compared to its initial token sale price. 

Meanwhile, Polygon maintains high liquidity relative to its market cap, indicating strong market activity. Despite the current bearish sentiment in price predictions, the Fear & Greed Index shows a value of 76, indicating extreme greed. MATIC’s underlying interest and optimism stem from its utility in the blockchain ecosystem. 

Furthermore, MATIC is used to pay for services on the Polygon network, known for its speed and lower transaction costs. If this utility and positive sentiment persist, MATIC could maintain its current stability or potentially increase in value. Moreover, with Ethereum’s recent update significantly reducing transaction fees, Polygon is poised as a strong candidate for a bullish trend.

4. Mega Dice (DICE)

Mega Dice, an established casino aims to transform GameFi. This token rewards current users and attracts new ones, playing a crucial role in Mega Dice’s gamification plan. Remarkably, Mega Dice plans to become the pioneer in crypto casinos, offering daily rewards based on platform performance.

Solana’s recent blockchain ventures are gaining notice. Among them is Mega Dice (DICE), a gaming and gambling token swiftly gaining popularity since its presale commenced. Mega Dice has raised over $1 million, indicating significant interest in this novel concept.

The Mega Dice presale has been remarkably successful thus far. The project has achieved a substantial funding milestone, demonstrating a strong demand for its token. Due to their accessibility and limited availability, people are keen to acquire $DICE tokens.

At present, each $DICE token is priced at $0.075. Those interested can link their wallets and swap SOL, ETH, or BNB for $DICE tokens. Mega Dice has sold 19,005,462 worth of $DICE to date.

Meanwhile, they have allocated 15% for player airdrops, 15% for liquidity pools, and 15% for the Casino’s $DICE pool. Another 10% will serve as rewards for token stakers, and the remaining 10% is earmarked for marketing and other agreements.

Mega Dice ensures that the presale is inclusive. Post-presale, they aim to list $DICE tokens on decentralized exchanges (DEXs), potentially enhancing their popularity. Notably, it has raised over $1.3 million in presale.

Visit Mega Dice Presale

5. Litecoin (LTC)

Litecoin has witnessed massive trading activity recently. In the past month, major investors have shown significant interest in the token, accumulating over 2.75 million LTC. This suggests that the whale plans to hold onto the LTC asset, signalling strong positivity and increasing confidence in Litecoin’s’ future.

Meanwhile, Litecoin uses blockchain technology to facilitate fast, secure, and low-cost transactions. Despite the recent bullish trend in the crypto market, Litecoin’s performance has yet to see a significant impact. However, it has displayed steady growth over time.

Litecoin price chart

LTC trades at $84.74, reflecting a 1% decline in the past 24 hours. However, it has seen a positive trajectory, with a 3.90% increase over the past week, finding support from trendlines and critical moving averages. The sentiment regarding Litecoin’s price prediction is bullish, with a Fear & Greed Index score of 76, showing ‘Extreme Greed.’

Furthermore, Litecoin trading above its 200-day simple moving average further supports this positive sentiment, indicating a favourable position. If trading volume increases and the chart setup continues to attract potential investors, Litecoin’s price could experience bullish momentum, aiming to overcome the $100 barrier in the future.

6. Near Protocol (NEAR)

NEAR Protocol is a leading consumer blockchain for mainstream applications, facilitating millions of transactions daily. Its roadmap emphasizes democratizing AI ownership. Its vision is set on continuous efforts to expand usability and scalability, including sharding implementation.

The altcoin has witnessed heightened trading activity recently. It has also experienced an increased demand in the open interest market, signalling a potential upward trajectory in its price. Strategic collaborations have further bolstered NEAR’s position, driving demand and network activity.

Near Protocol price chart

NEAR shows resilience despite market downturns, it is up 10% over the last month and 370% YTD. This surge aligns with broader trends in AI-related tokens. The trend reflects the growing momentum of the AI industry as it introduces new products.

Technical analysis suggests a bullish sentiment for NEAR Protocol. The current trading price is $7.69, accompanied by high liquidity and market activity. The token trades well above its 200-day Simple Moving Average (SMA) by 399.04%. Analysts predict potential further growth, with projections suggesting NEAR Protocol could reach $12 by year’s end.

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