Blockchain

7 Best Altcoins to Invest in Right Now December 1 – Immutable, The Graph, Internet Computer

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The current state of the cryptocurrency market showcases notable movements within the past 24 hours. The total market capitalization is $1.47 trillion, marking a 2.01% increase during this period. Correspondingly, the 24-hour trading volume for cryptocurrencies totals $166.67 billion, reflecting a substantial uptick of 17.13%.

Bitcoin is valued at $38,752 at present, displaying a 2.47% gain within the last day. Furthermore, Bitcoin’s dominance in the market experienced a modest uptick of 0.21%, reaching 51.34%.

7 Best Altcoins to Invest in Right Now

These metrics highlight the market’s recent movements, indicating fluctuations in overall market valuation and individual cryptocurrency performance, particularly emphasizing Bitcoin’s notable movement and its impact on the broader market trends.

1. Immutable (IMX)

Immutable X has experienced a notable surge in its price, marking a substantial 188% increase over the past year. This impressive growth has positioned it favorably, outperforming 86% of the top 100 crypto assets within the same timeframe.

One key indicator of its current market position is its trading status above the 200-day simple moving average, signaling a positive trend. Additionally, it has consistently shown an upward trajectory compared to its token sale price, reflecting favorable performance metrics.

Examining its recent trading patterns, Immutable X has registered 19 positive trading days out of the last 30, accounting for a 63% success rate. Moreover, it boasts high liquidity, supported by its substantial market capitalization.

2. The Graph (GRT)

The GRT token has undergone recent price movements, indicating a potential shift. Following a failure to breach the resistance at $0.1700, a double-top pattern emerged, drawing seller interest and prompting profit-taking among buyers. This led to a retracement to the $0.1400 mark. Yet, the token’s price remains positioned above key moving averages and close to a neutral stance.

GRT Price Chart

The recent retracement, maintaining levels above the 50% Fibonacci retracement zone, suggests a healthy correction. Sustaining above the 20-day EMA could signify a recovery, potentially retesting highs of $0.1800 and onwards to $0.2000.

There’s an anticipation that overcoming the $0.1600 hurdle could propel the GRT token towards levels exceeding $0.2000 in the coming months. Highlights of the token’s recent performance include a notable 133% increase in price over the past year. 

Thus, it outperformed 81% of the top 100 cryptocurrencies in that period. It has also shown resilience against Bitcoin and Ethereum, trading consistently above the 200-day simple moving average. Additionally, observing 15 positive trading days out of the last 30 implies a relatively balanced market sentiment.

3. Stacks (STX)

Stacks (STX), a cryptocurrency in the Layer 1 sector, has undergone significant price fluctuations in the past year. Over this period, its price has surged by an impressive 192%, outperforming 88% of the top 100 crypto assets. Notably, it has surpassed the performance of leading cryptocurrencies like Bitcoin and Ethereum.

STX Price Chart

From a technical perspective, Stacks trades above the 200-day simple moving average, signifying a positive trend. In the recent 30-day period, it has experienced 16 green days, accounting for 53% of the time, indicating a favorable market sentiment.

Regarding supply metrics, Stacks currently has a circulating supply of 1.42 billion STX out of a maximum supply of 1.82 billion STX. The sentiment around its price prediction is currently bullish. Therefore, it coincides with a Fear & Greed Index reading of 71, indicating a state of greed in the market.

4. Internet Computer (ICP)

Internet Computer (ICP) has seen considerable price fluctuations in the past year. It is valued at $4.76 and has shown a 6.22% increase in the last 24 hours. Comparatively, its peak was $497.71 on May 10, 2021, and its lowest was $2.86 on September 22, 2023.

ICP Price Chart

Over the past year, ICP’s price has risen by 14%, outperforming 52% of the top 100 crypto assets. It has consistently traded above its 200-day moving average and displayed positive growth from its token sale price. Notably, in the last 30 days, 16 days showed positive growth, accounting for 53% of the period.

The prevailing sentiment towards Internet computers is optimistic, reflected in a Fear & Greed Index score of 71 (Greed). Positioned near its cycle high, ICP boasts high liquidity with a market cap of $2.14B, securing its spot at #20 in the Layer 1 sector.

5. Arweave (AR)

Arweave, a Layer 1 project, currently exhibits several key metrics indicative of its performance within the market. Presently valued at $8.62, it has observed a 24-hour trading volume of $44.29M. This reflects a market capitalization of $564.04M and a market dominance of 0.04%.

AR Price Chart

One notable aspect is its trading status above the 200-day simple moving average, suggesting a sustained upward trend. Furthermore, when compared to its initial token sale price, Arweave demonstrates positive performance.

Over the last 30 days, Arweave experienced 16 days of positive growth, accounting for 53% of the period, signifying a consistent positive trajectory. Moreover, it maintains high liquidity, as evidenced by its market cap.

Examining supply dynamics, the current circulating supply of Arweave stands at 65.45M AR out of a maximum supply of 66.00M AR. The project has experienced a yearly supply inflation rate of 96.00%, creating 32.06M AR over the last year.

In the broader market context, Arweave holds the #43 ranking within the Layer 1 sector. Presently, the sentiment around its price prediction leans towards bullish, aligning with a Fear & Greed Index displaying a score of 71, indicating ‘Greed.’

6. Launchpad XYZ (LPX)

Launchpad XYZ is a platform designed to enhance decision-making in Web 3.0 investing. It aims to achieve this by offering users a comprehensive dashboard with detailed cryptocurrency data. Its primary goal is to equip users with the information necessary to make informed investment choices.

One notable aspect of Launchpad XYZ is its integration of market sentiments from influential crypto investors and analysts. This feature provides insights into where these key players direct their investments, potentially guiding users’ decision-making processes. The platform also aims to foster user education, encouraging independent trading decisions rather than relying on third-party information alone.

The native token within the Launchpad XYZ ecosystem, LPX, serves multiple purposes beyond mere exposure to the project’s growth. Users staking a minimum of 10,000 LPX tokens gain access to premium features, including reduced trading commissions on the Launchpad XYZ decentralized exchange.

Visit Launchpad XYZ.

7. Avalanche (AVAX)

The Avalanche ecosystem has recently shown notable growth and advancements, particularly through collaborations with major financial institutions such as JP Morgan and Citi. These partnerships have centered on tokenizing real-world assets, contributing to increased activity within the ecosystem.

AVAX Price Chart

Bridge inflows into Avalanche have notably surged, likely influenced by heightened interest in ASC-20 minting activities. The network has also experienced a notable uptick in transaction volumes, reflecting a growing demand for these activities.

 

The price of Avalanche has exhibited an upward trend following the announcement of partnerships with JP Morgan and Citi. Both entities are utilizing Avalanche’s technology to explore the tokenization of real-world assets, indicating confidence in the platform’s capabilities.

In July, the Avalanche Foundation unveiled the Avalanche Vista initiative, allocating $50 million to support the tokenization of real-world assets. At the time of reporting, AVAX displayed a 5.31% daily price gain, trading at $22.26, indicating positive market performance.

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