Top Crypto to Invest in Right Now April 13 – Ethena, Goldfinch, VeChain

By Inside Bitcoins
about 1 month ago

Choosing the best cryptocurrency to invest in is an ongoing task, with new tokens launching daily on centralized and decentralized exchanges.

The upcoming Bitcoin halving is a highly anticipated event in the crypto market. Historical halving cycles have resulted in remarkable gains for Bitcoin, often leading to new record highs. Yet, it’s worth noting that top altcoins like Solana, Chainlink, and SingularityNET also tend to experience substantial market cap surges. Surprisingly, certain altcoins surpassed Bitcoin’s performance following a halving event.

Top Crypto to Invest in Right Now

New tokens flood the market daily across various exchange platforms in the cryptocurrency market. As investors seek to identify the most promising opportunities, staying up-to-date is essential. This article highlights notable cryptocurrencies worthy of consideration for investment, offering a closer look at the reasons behind their potential rise.

1. Ethena (ENA)

Ethena is a novel synthetic dollar protocol running on the Ethereum blockchain. It offers a stablecoin alternative named USDe. Unlike traditional stablecoins, USDe doesn’t rely on fiat currencies but is backed by cryptocurrencies. 

In the recent week, ENA has seen substantial growth, with its price climbing from $0.62 to $1.50, accompanied by an increase in market cap from $854 million to $1.8 billion. This marks a notable 105% surge within just one week—a remarkable performance.

ENA Price Chart

The current trend for ENA is strongly bullish, with the token consistently reaching higher highs and lows. Technical analysis indicates a promising outlook for Ethena, with all four technical indicators signaling positive momentum for ENA. Market analysts foresee the Ethena price reaching $1.73 by the end of Q2 2024.

The token’s Relative Strength Index (RSI) remains bullish, indicating further room for growth, especially considering the liquidity available on various platforms. Additionally, increased whale activity and staking rewards further support potential price surges soon.

2. Bitcoin Minetrix (BTCMTX)

Bitcoin Minetrix has gathered substantial attention, raising over $13 million in its Initial Coin Offering (ICO) phase and gearing up for imminent exchange listings. This presale success highlights a growing appetite for decentralized avenues to engage with Bitcoin. 

Furthermore, the project plans to disrupt the Bitcoin mining landscape through its Stake-to-Mine mechanism. This system enables users to stake the native BTCMTX token in return for mining credits. Moreover, these credits can be utilized for either Bitcoin mining time or a portion of mining yields. 

By swapping these credits for mining time on the decentralized Bitcoin Minetrix service, holders can potentially double their earnings by merging staking rewards with Bitcoin mining profits. Currently trading at $0.0146 per token, BTCMTX offers investors one day before the next price adjustment.

Visit Bitcoin Minetrix Presale

3. Toncoin (TON)

TON Foundation recently announced a collaboration with HashKey Globals, sparking interest in the cryptocurrency community, particularly within the Asia-Pacific region. The partnership aims to provide users with a seamless experience of exchanging Toncoin for cash.

This initiative marks the beginning of a concerted effort to establish a foothold in Hong Kong initially, with plans for expansion into other APAC markets contingent upon the success of the initial phase. Moreover, the partnership extends beyond mere transactional facilitation. It encompasses joint exploration of new ecosystem projects, mentorship opportunities, networking, and other incubation activities.

TON Price Chart

The collaboration announcement coincided with a notable fluctuation in Toncoin’s value. Following the news, the cryptocurrency experienced a modest increase of approximately 1.7%, only to decline by nearly 4% within 24 hours. Before the announcement, Toncoin had surged to a new ATH, reaching $7.65 per token.

Also, to incentivize engagement within the ecosystem, the TON Foundation recently distributed 300,000 Toncoin to active meme coin traders on select platforms. This airdrop, valued at approximately $2.19 million, targeted traders who conducted transactions between specific dates, rewarding them with 90 free tokens per eligible wallet.

4. Goldfinch (GFI)

Goldfinch operates within the global credit space, functioning as a protocol to provide stablecoin yields derived from sustainable real-world economic activities. The platform’s main objective is to improve accessibility in DeFi lending by facilitating loans that accept collateral on and off the blockchain. Over the past 24 hours, the GFI token has grown significantly, currently trading at $4.02 following a 2.01% increase.

Furthermore, the price of GFI has surged by 501% in a year, surpassing 91% of the top 100 crypto assets in terms of performance during the same period. The sentiment surrounding the token’s price prediction is currently bullish, while the Fear & Greed Index sits at 72, indicating a level of greed among investors.

GFI Price Chart

Technically, GFI is trading above its 200-day simple moving average, suggesting positive momentum. Additionally, it has experienced 15 green days in the last 30 days. Moreover, GFI boasts high liquidity based on its market capitalization.

In summary, Goldfinch is a promising player in the DeFi space, offering a unique approach to lending and stablecoin yields. However, investors should conduct thorough research and consider the risks of investing in cryptocurrencies before making any decisions.

5. VeChain (VET)

VeChain has recently struck a $100 million deal with the Ultimate Fighting Championship (UFC). Over the next five years, this partnership aims to broaden UFC’s global reach by utilizing VeChain’s technology to engage with fans worldwide. The move signifies UFC’s entry into the blockchain space, acknowledging the growing impact of cryptocurrencies in sports.

VET Price Chart

This collaboration signifies UFC’s entrance into the crypto market and highlights the growing acceptance of blockchain technology. The partnership also means VeChain gets access to UFC’s fanbase, which is ideal for their growth. The impact of this alliance on VET’s market value is already evident. 

Despite recent market fluctuations, the token has shown signs of recovery, trading above its 200-day simple moving average. Additionally, VET has experienced a positive trend in trading activity, with gains in 16 out of the last 30 days, indicating increased investor interest.

Investors are optimistic about VET’s value, predicting its price will rise. Moreover, the Fear & Greed Index shows investors leaning towards greed, with readings of 72 (Greed). In the coming days, the effects of this partnership on UFC’s global expansion and VeChain’s market presence will become more apparent.

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