Blockchain

7 Best Altcoins to Invest in Right Now March 16 – Jupiter, Conflux, BNB 

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Bitcoin’s positive outlook has caused a spike in the overall crypto market. This increase reflects investors’ confidence in exploring promising tokens with potential upside, with the bulls anticipated. Hence, Altcoins are increasingly attracting investors seeking diverse entry points.

Nonetheless, choosing the right altcoin requires dedicated effort and thorough research. This article aims to streamline this process by highlighting several noteworthy altcoins deserving investment consideration.

7 Best Altcoins to Invest in Right Now

Bitcoin dropped below $70,000 in an overnight sell-off, while Jupiter, Conflux, and BNB are gaining traction as promising options for investors in the upcoming Alt-season. This surge in interest in altcoins rejuvenates investor confidence, prompting them to reassess and adjust their portfolios actively.

1. Jupiter (JUP)

On a month-to-date basis, JUP has surged by over 183%, aiming to hit its initial value of $2. This remarkable growth is attributed to the Jupiter team’s effort to enhance and diversify the functionalities of the Jupiter ecosystem.

Furthermore, Jupiter’s recent increase in trading volume has also propelled the tokens. Jup traded over $1.2 billion in volume over the last 24 hours, hitting an ATH after a 127.79% rally. Such a substantial surge in trading activity signifies heightened market engagement, increasing buying pressure. Analyzing the on-chain data reveals a consistent uptrend, indicative of growing investor confidence in Jupiter’s platform. 

Moreover, since the inception of the month, Jupiter has facilitated a total volume of 29.6 billion and processed 41.8 million transactions from 1.5 million distinct wallets. This steady growth trajectory underscores Jupiter’s rising prominence and utility in crypto. In addition, it positioned it as a compelling contender for investors seeking sustainable growth opportunities.

2. Fantom (FTM)

Fantom’s recent market movement has been northbound, showing remarkable growth trends. Over just two days, FTM has seen a notable increase in value, skyrocketing by more than 33%. It’s hovering around $0.96 after a slight dip from the $1 level, marking an impressive 22% rise within the last day alone.

However, this surge isn’t an isolated event but part of the ongoing market rally. Over the past year, Fantom’s price has surged by an impressive 92%, outperforming 54% of the top 100 crypto assets. Likewise, FTM has consistently traded above its 200-day SMA, currently at $0.406480, marking a significant 117.49% increase.

FTM PRICE CHART

One of the significant drivers behind Fantom’s recent surge is the reduction of FTM supply on cryptocurrency exchanges since March. This decrease in exchange-held FTM tokens and a price surge from $0.50 to $0.82 indicates a migration of assets to private wallets. 

Moreover, Fantom has shown positive performance compared to its token sale price, indicating a promising outlook for its long-term trajectory. Fantom’s recent ascent has drawn widespread interest in the crypto community, prompting discussions about its potential next steps. Hence, it has solidified its position as a project that investors can watch closely.

3. Conflux (CFX)

Conflux Network’s is charting a bullish trajectory, finding support at $0.30 and steadily climbing. CFX’s price is $0.413153, marking a 4.38% increase in the past 24 hours. With 18 out of the last 30 days closing in the green, investor sentiment remains optimistic. This optimism is reflected by the Fear & Greed Index at 81, indicating increased buying pressure.

CFX PRICE CHART

Trading comfortably above its 200-day simple moving average, Conflux Network is currently 147.12% above this marker, standing at $0.165953. Based on its market cap, this stability and high liquidity reflects Conflux’s strong fundamentals.

Hence, analysts foresee the potential for Conflux to surpass its next target of $0.75 sooner than anticipated. Furthermore, with the backing of a dedicated crypto community and the possibility of future collaborations with other networks, there’s speculation that the CFX coin could reach levels exceeding $1.28 by 2024. These factors position Conflux as a project with promising growth prospects in the coming years.

4. Solana (SOL)

Solana is on an upward trend, coinciding with its launch date four years ago. This year, it has witnessed a staggering 276+ billion transactions, boasting a network of over 1600 validators and 254+ million blocks. The current buzz around the coin is driving its price upward with a 4.92% intraday surge, pushing it close to its cycle high of $197.31. 

SOL PRICE CHART

Moreover, Solana has seen 17 green days out of the last 30, representing a bullish trend in the market sentiment. Over the past year, SOL’s price has skyrocketed by 834%, outperforming 94% of the top 100 crypto assets, including Bitcoin and Ethereum.

Meanwhile, investor sentiment remains bullish towards Solana’s prospects, with the greed score pegged at 81. This represents an increased coin transaction as FOMO is propelling traders to buy. This optimistic outlook is further supported by its consistent positive performance compared to its token sale price. As Solana continues its uptick, investors look to it for substantial returns.

5. eTukTuk (TUK)

eTukTuk seeks to tackle transportation challenges in developing regions and beyond, focusing on sustainability. By harnessing the power of blockchain technology, eTukTuk sets out to transform traditional modes of transportation, including tuk-tuks.

In its white paper, eTukTuk highlights the adverse effects of internal combustion engine (ICE) tuk-tuks. On this note, the project emphasizes the pressing need for sustainable alternatives, especially for two—and three-wheeler vehicles prevalent in developing countries.

The project’s presale has garnered significant attention, raising over $2.2 million thus far. With each $TUK token valued at $0.0285, there’s anticipation for a surge in value as the presale enters its next phase in 8 days. This presents a potential opportunity for investors to capitalize on the current token price and annual percentage yield (APY) of 115% before a potential price increase.

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6. Helium (HNT)

In today’s trading session, HNT surged by approximately 3.74%. Showcasing bullish momentum, it found support near the 50-day Exponential Moving Average (EMA) and rebounded from earlier declines. Presently, Helium is trading at around $8.29, marking a notable uptick in price. In addition, the circulating supply stands at 160.87 million HNT tokens, with a maximum supply capped at 223 million HNT tokens.

HNT PRICE CHART

Per its long-term trend, HNT crypto appears poised for further upside potential, drawing potential buying interest around the support of the 50-day EMA. Nonetheless, a breakthrough above the trendline resistance could signal a continuation toward a new swing high.

Moreover, HNT’s price forecast suggests a potential high of $11, indicating a prospective upside of 22%. Conversely, a breach below the 50-day EMA might signal a continuation of the correction phase. Helium’s recent performance indicates impending green days, with potential opportunities for investors considering its positive long-term outlook.

7. BNB (BNB)

Recent developments within Binance’s executive team have sparked interest and speculation among investors. Following the departure of Binance’s former CEO, Changpeng Zhao, the token experienced a downturn. Despite this initial setback, BNB has shown resilience and is recovering from this setback to print greens. Currently, it is trading at $317.6, marking a modest increase of 7.01% over the past month.

BNB PRICE CHART

Moreover, BNB’s adoption is increasing, with its token’s utility expanding beyond the exchange. BNB finds application in various sectors, including DeFi, NFT marketplaces, and as a staking token on Binance Smart Chain (BSC). However, the future profitability of BNB is contingent upon several factors, including the expansion of the Binance ecosystem, regulatory developments, and broader adoption.

Furthermore, Binance’s strategy of regularly burning BNB tokens to decrease supply could bolster its value, provided demand remains robust. As blockchain technology and cryptocurrencies gain traction, BNB’s significance as a key asset in cryptocurrency will likely increase.

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