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20 Best Crypto to Buy Now [Today] 2024 – Invest x100 Bull Run
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As we stand on the brink of what many experts predict to be the next major bull run in the cryptocurrency market, the stage is set for remarkable opportunities. The biggest players in the market, often referred to as ‘whales,’ are already making strategic moves, pouring significant investments into promising projects. Their actions signal a strong belief in the upcoming surge, and now is the critical moment for other investors to align their strategies to benefit from this anticipated wave.
The signs of an imminent bull run are becoming increasingly evident. Market analysts point to a combination of factors, including an inflow of capitals in the cryptocurrency market, increased adoption in the most important markets, and favorable regulatory developments. The growing interest from institutional investors and the expanding use cases for cryptocurrencies in various sectors suggest a strong upward trajectory.
One of the key reasons we anticipate a bull run is the maturation of the cryptocurrency market. Over the past few years, the market has seen substantial development in terms of infrastructure, security, and user adoption. Major cryptocurrencies like Bitcoin and Ethereum have solidified their positions as digital assets with real-world applications, while newer projects are addressing specific challenges and creating innovative solutions. Among these projects, EarthMeta stands out as the best crypto to buy now in 2024, combining decentralized finance, artificial intelligence, and the metaverse, offering a unique investment opportunity. EarthMeta was selected as the best crypto presale for 2024.
In this environment, making informed investment decisions is crucial. The upcoming bull run presents an opportunity to achieve exponential growth, but it also requires careful selection of projects with strong fundamentals, clear goals, and dedicated teams.
The next few months will be pivotal, and the right investment choices made today could lead to remarkable gains tomorrow. The projects included in our list represent a diverse array of use cases and technologies, from decentralized finance (DeFi) and artificial intelligence (AI) to the metaverse and blockchain scalability.
Here is our list of the best crypto to buy now for 2024:
- EarthMeta ($EMT) – AI-driven metaverse platform.
- Ethereum (ETH) – Leading smart contract blockchain.
- Solana (SOL) – High-speed, low-cost blockchain.
- XRP (Ripple) – Efficient cross-border payments.
- Dogecoin (DOGE) – Meme coin with strong community.
- Toncoin (TON) – High-capacity Telegram blockchain.
- Cardano (ADA) – Secure, scalable blockchain platform.
- Shiba Inu (SHIB) – Meme-based, community-driven crypto.
- Avalanche (AVAX) – High-throughput decentralized applications.
- ChainLink (LINK) – Decentralized oracle network.
- Tron (TRX) – Digital content entertainment platform.
- NEAR Protocol (NEAR) – Scalable blockchain for DApps.
- Litecoin (LTC) – Fast, low-fee cryptocurrency.
- Pepe (PEPE) – Meme-based, community-backed coin.
- Aptos (APT) – Scalable, user-friendly blockchain.
- Hedera (HBAR) – High-throughput, low-latency ledger.
- Filecoin (FIL) – Decentralized storage network.
- Stellar (XLM) – Fast, cost-effective payments.
- Monero (XMR) – Secure, private transactions.
- Maker Coin (MKR) – Governance and collateral token.
>>> Ready for the Bull Run? Top Crypto Investments to Make Now <<<
Best crypto to invest now:
EarthMeta is likely to be the most compelling Cryptocurrency in 2024, merging the power of decentralized finance (DeFi), artificial intelligence (AI,) and the metaverse. For us, it is essential to highlight this project since it’s an excellent opportunity ahead of the anticipated bull run. EarthMeta offers a platform where users can own, and govern, virtual NFT cities, creating a new approach to digital real estate and interactive experiences.
One of the primary reasons to buy EarthMeta tokens while they are in presale is that it’s still at its inception. As you know, the best moment to get involved in cryptocurrency is at the beginning. People who bought Bitcoin for $1 in 2013 can tell you.
The project integrates advanced AI technology, knowing we are in a year marked by significant advancements in AI. The platform’s AI continuously analyzes market trends and user behavior, providing personalized, data-driven (and most importantly : objective) trading insights to help users make informed decisions. This technology enhances user experience and maximizes potential returns.
The unexpected current presale of EarthMeta includes significant incentives. During the presale phase, early adopters can receive up to 30% bonuses on EMT token purchases, offering an attractive entry point for early participants to maximize their investment. Additionally, the platform offers up to 186% APY for staking EMT tokens, encouraging long-term participation. These incentives make EarthMeta the best moon shot for 2024, particularly as market conditions become increasingly favorable.
The cryptocurrency landscape is riddled with projects that promise incredible returns but often lack substance. Meme coins, for instance, frequently capture public attention with their flashy marketing and promises of a 1000x return. However, these projects often have hidden teams, vague goals, and no real value proposition, making them likely to disappear within a year. As the saying goes, if an offer seems too good to be true, it probably is.
In contrast, the top-tier cryptocurrencies are built to last. They tackle real-world problems with innovative solutions and have a dedicated team working towards achieving clearly outlined goals. Their whitepapers provide in-depth explanations of their technology, use cases, and future plans. Moreover, they have the backing of reputable advisors who bring their expertise and credibility to the project.
While established cryptocurrencies like Bitcoin and Ethereum have already proven their worth, they also come with high market caps, making it challenging to achieve exponential growth. This is where new projects come into play. Historically, early investors in groundbreaking projects have seen significant returns. Bitcoin, for example, was once worth just a dollar, and those who recognized its potential early on have reaped substantial rewards.
Investing in new, promising projects at their inception can be highly lucrative. Being among the first to support a project not only allows you to benefit from its growth but also positions you as a pioneer in the crypto space. However, it’s crucial to differentiate between genuinely innovative projects and those that merely hype themselves up.
>> Discover the Top Cryptocurrencies to Invest in for 2024 <<<
EarthMeta’s ecosystem is designed to be comprehensive and immersive. It includes a marketplace for buying, selling, and trading virtual properties, an app with augmented reality features for enhanced user experience, and real-time tracking of token performance and rewards. The platform’s strategic roadmap outlines a clear path for sustainable growth and innovation.
EarthMeta’s governance system offers additional earning opportunities. The platform allows, in addition to being a Governor and earning a 1% tax on all the transactions within your city, to become Presidents of countries by holding the most strategic cities, earning an additional 0.4% tax on all transactions within their digital country. This unique structure promotes competition and enhances the overall value of the ecosystem.
In short, and in our opinion, buying EarthMeta tokens now is strategically advantageous due to its robust project, innovative features, and the approaching bull run. With the combination of virtual real estate, AI-driven insights, and substantial financial incentives, EarthMeta can be the next x100. The project provides a strong foundation. The team commitment to growth and user-centric development underscores its potential as a leading player in the digital real estate and metaverse markets.
We all know it, Ethereum, often referred to as the king of smart contracts, is a powerhouse in the cryptocurrency world. With Ethereum 2.0, it transitioned from a proof-of-work (PoW) to a proof-of-stake (PoS) consensus mechanism, significantly enhancing its scalability, security, and energy efficiency. This upgrade has drastically reduced transaction fees and increased throughput, making Ethereum even more appealing for developers and users alike.
The Ethereum ecosystem supports a vast array of decentralized applications (DApps), decentralized finance (DeFi) platforms, and non-fungible tokens (NFTs), cementing its position as a leader in blockchain innovation.
>>> Uncover the Next Big Crypto Presales – Potential x100 Returns <<<
As we approach the next bull run, investing in Ethereum becomes particularly compelling. The network’s ongoing development, the burning of tokens mechanism and widespread adoption suggest substantial growth potential. Ethereum’s dominance in DeFi, combined with its robust developer community and continuous improvement, positions it for significant price appreciation. By investing in Ethereum now, you are not only betting on the future of blockchain technology but also aligning with a proven leader poised for considerable gains in the upcoming market surge.
Solana has rapidly risen to prominence in the blockchain space, known for its exceptional throughput and minimal transaction costs. Utilizing a unique consensus mechanism called Proof of History (PoH), Solana can process thousands of transactions per second, making it a preferred choice for high-frequency trading, gaming, and DeFi applications. The Solana ecosystem has witnessed explosive growth, with numerous projects migrating to its network due to its scalability and efficiency.
As a bull run looms, Solana’s SOL token stands to benefit significantly from increased network activity and broader adoption. Investing in Solana now offers exposure to an ecosystem that is expanding rapidly and is well-positioned to capture a significant market share, especially from those seeking alternatives to Ethereum’s higher fees and congestion. The expected market rally could propel Solana’s value to new heights, making it an attractive investment for those looking to capitalize on its technological advancements and growing popularity.
XRP, created by Ripple Labs, is designed for efficient cross-border payments, providing fast and cost-effective transaction settlements. Unlike traditional blockchain-based cryptocurrencies, XRP uses a consensus ledger and a network of validating servers, enabling rapid transaction speeds. Ripple has established partnerships with numerous financial institutions, positioning XRP as a key player in the global payment ecosystem. The ongoing legal battle with the SEC has created uncertainty, but a favorable resolution could lead to a significant price rally.
With the anticipated bull run, XRP stands to benefit from renewed investor confidence and increased usage in international transactions. Investing in XRP now offers the potential for substantial returns, especially if Ripple continues to expand its partnerships and the regulatory environment becomes more favorable. The unique value proposition of XRP as a bridge currency for global payments makes it a strategic investment in the burgeoning digital currency landscape.
Dogecoin, originally conceived as a meme, has evolved into a widely recognized cryptocurrency with a fervent community. Its journey from a joke to a serious digital asset underscores the influence of community and social media in driving value.
High-profile endorsements, particularly from Elon Musk, have significantly bolstered its popularity and price. As the market anticipates a bull run, Dogecoin’s strong community support and viral appeal could translate into substantial gains. Investing in Dogecoin now allows you to leverage the power of community-driven growth and the increasing mainstream acceptance of cryptocurrencies.
>>> Find Out Which Cryptos to Buy Now for the Coming Bull Run <<<
While Dogecoin carries higher risk due to its speculative nature, the potential for high returns during a market surge makes it an enticing option. It can be compared to any new ICO in the market.
Its ability to capture the public’s imagination and maintain relevance in the crypto space suggests that Dogecoin could see significant appreciation in the coming bull run.
Toncoin, developed by the Telegram team, represents a cutting-edge blockchain project aiming to change the decentralized applications and services. Designed to handle millions of transactions per second with ultra-low fees, Toncoin leverages advanced technology to provide a user-friendly ecosystem. The project’s roots in the Telegram community give it a strong foundation and significant user base from the start.
As the cryptocurrency market gears up for a bull run, Toncoin’s potential for rapid adoption and scalability makes it an attractive investment. The ability to process high volumes of transactions efficiently positions Toncoin as a formidable competitor in the blockchain space. Investing in Toncoin now offers exposure to a nascent yet promising ecosystem that is poised to grow significantly. The impending bull market could amplify Toncoin’s value, providing substantial returns for early investors who recognize the potential of this innovative platform.
Cardano stands out for its research-driven approach to blockchain development, aiming to provide a more secure and scalable platform. Utilizing a proof-of-stake (PoS) consensus mechanism, Cardano is designed to be energy-efficient and highly scalable.
The platform supports smart contracts and decentralized applications (DApps), with a strong focus on formal verification and peer-reviewed research. Cardano’s development is guided by a rigorous academic approach, ensuring robust and secure technology. As the bull run approaches, Cardano’s ADA token is well-positioned to benefit from increased adoption and the deployment of its smart contract capabilities. Investing in Cardano now aligns you with a project that prioritizes security, scalability, and sustainability. The expected market surge could significantly boost ADA’s value, offering substantial returns. Cardano’s commitment to continuous improvement and its potential to address real-world problems make it a compelling investment in the evolving blockchain landscape.
Shiba Inu, often dubbed the “Dogecoin killer,” has captured the imagination of the crypto community with its meme-based appeal and vibrant community. Despite its origins as a joke, Shiba Inu has developed a robust ecosystem, including its decentralized exchange, ShibaSwap. The community-driven nature of SHIB, combined with strategic initiatives such as token burns and new listings, has kept it in the spotlight.
With a bull run on the horizon, Shiba Inu’s strong community and speculative appeal could drive significant price increases. Investing in Shiba Inu now taps into the potential of a highly engaged community and the meme coin phenomenon. While it carries higher risk due to its speculative nature, the potential for substantial returns during a market surge makes it an intriguing option. The continuous development of the Shiba Inu ecosystem and its growing popularity suggest that SHIB could see significant appreciation in the upcoming bull run.
>>> Invest in the Best Cryptos for 2024 <<<
Avalanche has emerged as a leading platform for launching decentralized applications and enterprise blockchain deployments. Known for its high throughput and low latency, Avalanche provides a scalable solution for developers seeking to build efficient and robust applications. The Avalanche consensus protocol allows the network to process thousands of transactions per second, making it a formidable competitor to Ethereum and other blockchain platforms. As the bull run approaches, Avalanche’s AVAX token is poised to benefit from increased network activity and broader adoption. Investing in Avalanche now positions you in a rapidly growing ecosystem that is attracting significant developer interest.
The anticipated market rally could propel AVAX’s value to new heights, offering substantial returns. Avalanche’s focus on scalability, speed, and security makes it a compelling investment in the blockchain space, especially as the demand for decentralized applications continues to grow.
ChainLink is a decentralized oracle network that connects smart contracts with real-world data, enabling them to interact with external systems and APIs. As a critical infrastructure for DeFi and other blockchain applications, ChainLink plays a vital role in ensuring the accuracy and reliability of data fed into smart contracts.
The network’s robust security and widespread adoption have made LINK a cornerstone in the DeFi ecosystem. With a bull run on the horizon, ChainLink’s LINK token is well-positioned to benefit from increased demand for decentralized oracles.
Investing in ChainLink now offers exposure to a critical component of the blockchain infrastructure that is essential for the growth and functionality of decentralized applications. The anticipated market surge could significantly boost LINK’s value, providing substantial returns. ChainLink’s continued integration with various blockchain platforms and its essential role in the DeFi space make it a strategic investment in the evolving crypto landscape.
Tron is a blockchain-based decentralized platform aiming to build a free, global digital content entertainment system with distributed storage technology. Known for its high throughput and low transaction costs, Tron supports a wide range of applications, from gaming to content sharing. The platform’s focus on decentralizing the web and empowering content creators makes it a unique player in the blockchain space.
As the bull run approaches, Tron’s TRX token stands to benefit from increased network activity and broader adoption. Investing in Tron now aligns you with a platform dedicated to transforming the digital entertainment industry. The expected market rally could significantly boost TRX’s value, offering substantial returns. Tron’s commitment to continuous improvement and its growing ecosystem make it a compelling investment in the blockchain space, particularly as the demand for decentralized digital content solutions continues to rise.
NEAR Protocol is a highly scalable blockchain designed to provide the ideal environment for decentralized applications (DApps). It employs a unique consensus mechanism called Nightshade, which enhances scalability by sharding the blockchain into multiple segments, each capable of processing transactions independently.
This results in faster transaction speeds and lower costs. As a crypto professional, you should recognize that NEAR’s developer-friendly approach, including human-readable account names and powerful development tools, lowers the barrier to entry for new projects. With the anticipated bull run, NEAR’s focus on usability and scalability positions it for significant growth. Investing in NEAR now allows you to capitalize on a rapidly expanding ecosystem that is attracting developers and users seeking efficient and scalable solutions. The upcoming market surge could amplify NEAR’s value, providing substantial returns as more projects launch on the platform and user adoption increases.
Litecoin, often referred to as the silver to Bitcoin’s gold, is one of the oldest and most trusted cryptocurrencies. Created by Charlie Lee, Litecoin offers faster transaction times and lower fees compared to Bitcoin, making it more suitable for everyday transactions.
Its Scrypt-based algorithm also allows for more accessible mining than Bitcoin’s SHA-256. As a crypto professional, it’s crucial to understand Litecoin’s stability and resilience, which have earned it a significant place in the crypto market.
With the bull run approaching, Litecoin’s established reputation and consistent performance make it a reliable investment. The anticipated market surge could drive up demand for LTC, especially as investors look for proven assets with lower volatility. Investing in Litecoin now offers a balanced approach, providing exposure to a well-established cryptocurrency that benefits from the growing adoption and increasing market confidence.
>>> Get Ahead of the Market with this Top Crypto <<<
Pepe, a meme-based cryptocurrency, has gained attention due to its community-driven nature and viral appeal. Like other meme coins, Pepe leverages the power of social media and community engagement to drive its value. While it started as a joke, the strong community backing and speculative interest have propelled it into the spotlight.
Although it carries higher risk due to its volatile and speculative nature, the upcoming bull market could see substantial price increases for Pepe, offering the chance for significant returns for those willing to take the risk.
Aptos is a new blockchain project that focuses on providing a scalable and user-friendly environment for decentralized applications. Its innovative approach to consensus and network architecture aims to overcome current limitations in blockchain scalability and efficiency. As a crypto professional, you should note that Aptos is designed to support a wide range of applications, from DeFi to NFTs, with an emphasis on ease of use and developer support.
The impending bull run could see Aptos gaining significant traction as developers and users seek scalable and efficient platforms. Investing in Aptos now positions you to benefit from its early-stage growth and potential market adoption. The expected market surge could drive substantial interest and value into the Aptos ecosystem, offering attractive returns for early investors.
Hedera is a public distributed ledger technology that offers fast, fair, and secure decentralized applications. Unlike traditional blockchains, Hedera uses a unique consensus algorithm called Hashgraph, which provides high throughput and low latency.
It’s important to recognize Hedera’s enterprise-grade performance and its partnerships with leading global corporations. With the anticipated bull run, Hedera’s HBAR token stands to benefit from increased adoption and network activity.
Investing in Hedera offers exposure to a highly scalable and efficient platform that is gaining traction in various industries, from finance to supply chain management. The expected market rally could significantly boost HBAR’s value, providing substantial returns as more enterprises and developers adopt Hedera for their decentralized applications.
Filecoin is a decentralized storage network that turns cloud storage into an algorithmic market. By allowing users to rent out their unused storage space, Filecoin provides a decentralized alternative to traditional cloud storage providers.
You should understand the growing importance of data storage and the demand for decentralized solutions. With the bull run approaching, Filecoin’s FIL token is poised to benefit from increased awareness and adoption of decentralized storage. Investing in Filecoin now aligns you with the future of data storage, offering exposure to a market that is set to grow as more organizations seek secure, efficient, and cost-effective storage solutions.
>>> 2024’s Best Crypto Investments – Get In Early for Maximum Returns <<<
The upcoming market surge could drive significant value into the Filecoin ecosystem, providing attractive returns for investors who recognize its long-term potential.
Stellar is a blockchain-based platform designed to facilitate fast and cost-effective cross-border payments. Its consensus protocol enables quick transaction confirmations without relying on mining, making it energy-efficient.
Stellar’s focus on financial inclusion and its partnerships with major financial institutions. With the bull run on the horizon, Stellar’s XLM token stands to benefit from increased adoption and network usage. Investing in Stellar now offers exposure to a platform dedicated to improving the efficiency of global payments, which is a critical area of growth in the blockchain space.
The anticipated market rally could significantly boost XLM’s value, providing substantial returns as more financial institutions and users adopt Stellar for cross-border transactions.
Monero is a privacy-focused cryptocurrency that offers secure, private, and untraceable transactions. Unlike many other cryptocurrencies, Monero uses advanced cryptographic techniques to ensure the anonymity of its users.
It’s essential to understand the growing demand for privacy in digital transactions. With the bull run approaching, Monero’s XMR token is poised to benefit from increased interest in privacy-preserving technologies. Investing in Monero now offers exposure to a leading privacy coin that is well-respected and widely used in the crypto community. The upcoming market surge could drive significant value into the Monero ecosystem, providing attractive returns for investors who prioritize privacy and security in their digital transactions.
MakerDAO is a decentralized autonomous organization that operates the Maker protocol, which is known for its stablecoin, DAI. MKR tokens are used for governance and collateral in the system.
MakerDAO is important in the DeFi space, providing a stable and decentralized alternative to traditional financial systems. With the bull run approaching, Maker’s MKR token stands to benefit from increased activity in DeFi and broader adoption of stablecoins. Investing in Maker now offers exposure to a cornerstone of the DeFi ecosystem, with the potential for significant growth as DeFi continues to expand. The expected market surge could drive substantial interest and value into the Maker ecosystem, providing substantial returns for early investors who recognize its foundational role in the future of finance.
>>> Top crypto ready to explode this year <<<
Final Opinion
As we approach the significant and long-anticipated bull run in the cryptocurrency market, it’s essential for investors to make well-informed decisions. The next few months may present a unique opportunity for substantial growth, but choosing the right projects to invest in is crucial. This article has highlighted a diverse range of cryptocurrencies, each offering distinct value propositions and growth potential.
Among these, EarthMeta stands out as a project that combines decentralized finance, artificial intelligence, and the metaverse, making it a compelling crypto to buy for 2024. However, it’s important not to overlook other strong contenders like Ethereum, Solana, and Cardano, which have established themselves as key players in the crypto space. Each project listed has its unique strengths, from Ripple’s efficient cross-border payments to ChainLink’s decentralized oracle network, and investing in a mix of these projects could maximize your chances of significant returns.
The key to navigating the upcoming bull run is to stay objective and focus on the projects with solid fundamentals and clear roadmaps. Projects like Litecoin, Hedera, and Filecoin offer stability and innovation, while newer ventures like EarthMeta and Toncoin provide exciting growth opportunities. By diversifying your investments across these promising projects, you can position yourself to benefit from the anticipated market surge.
In conclusion, the potential for a x100 return exists, but it requires careful selection and strategic investment. Stay informed, monitor market trends, and choose projects with a strong foundation and dedicated teams. This approach will help you navigate the dynamic crypto landscape and make the most of the opportunities that lie ahead in 2024.
When is the next crypto bull run expected?
The next crypto bull run is anticipated to begin in late 2024. This prediction is based on several factors, including the maturation of blockchain technology, increased institutional investments, and favorable regulatory changes. Analysts and market experts believe these factors will converge to create an ideal environment for substantial price increases across various cryptocurrencies.
What are the top 20 cryptocurrencies to buy today for 2024?
The top 20 cryptocurrencies to buy today for 2024 include EarthMeta, Ethereum, Solana, XRP, Dogecoin, Toncoin, Cardano, Shiba Inu, Avalanche, ChainLink, Tron, NEAR Protocol, Litecoin, Pepe, Aptos, Hedera, Filecoin, Stellar, Monero, and Maker Coin. Each of these cryptocurrencies offers unique value propositions and has shown significant potential for growth. For example, EarthMeta combines decentralized finance (DeFi), artificial intelligence (AI), and the metaverse, creating a novel investment opportunity. Ethereum continues to lead with its robust smart contract capabilities and upcoming transition to Ethereum 2.0. Solana is recognized for its high-speed transactions and low costs, making it a favorite for DeFi applications…
Why should I invest in cryptocurrencies in 2024?
Investing in cryptocurrencies in 2024 offers the potential for substantial returns due to several factors. The anticipated bull run could drive significant price increases across the market. Among EarthMeta, new and innovative projects are continuously emerging, offering fresh investment opportunities with the potential for high returns. By investing in a diverse portfolio of promising cryptocurrencies, you can capitalize on these market dynamics.
What makes EarthMeta a good investment in 2024?
EarthMeta is considered a strong investment for 2024 due to its innovative integration of decentralized finance (DeFi), artificial intelligence (AI), and the metaverse. This project aims to create a platform where users can own, govern, and interact within virtual NFT cities, offering a unique blend of digital real estate and interactive experiences. The platform leverages advanced AI technology to analyze market trends and user behavior, providing personalized trading insights and enhancing the user experience. During the presale phase, investors can receive significant bonuses on EMT token purchases and high annual percentage yields (APY) for staking, making it an attractive entry point.
>>> The Next Big Thing in Crypto <<<
How do I choose the best crypto to invest in 2024?
Choosing the best crypto to invest in 2024 involves a multifaceted approach.
- First, research the project’s technology and innovation. Look for cryptocurrencies that offer unique solutions or improvements over existing technologies.
- Second, evaluate the team’s expertise and track record. A strong, experienced team can be a good indicator of a project’s potential success.
- Third, consider the project’s market potential and adoption rate. Projects with real-world applications and growing user bases are more likely to succeed.
- Additionally, analyze the tokenomics, including the supply, distribution, and utility of the token.
- Lastly, stay informed about market trends, regulatory developments, and community sentiment.
By combining these factors, you can DYOR and make informed investment decisions that align with your financial goals and risk tolerance.
Bitcoin AND Etherealalong with the rest of the top 10 cryptocurrencies by market cap, appear to be in hibernation on Thursday morning.
At the time of writing, the Bitcoin Price is still below $65,000 and 2.2% lower than it was this time yesterday, according to CoinGecko data. Things are worse for the Ethereum Pricewhich is 3.7% lower than 24 hours ago at $3,185.22. The drop in ETH’s price is identical to that of Lido Staked Ethereum (stETH), a liquid staking token for Ethereum.
In recent days, falling prices have led to the liquidation of derivative contracts worth $225 million, according to Coin glassAnd about half of that, about $100 million, was liquidated in the last 12 hours.
When a trader is liquidated, it means that their position in the market has been forcibly closed by an exchange or brokerage due to a margin call or insufficient collateral. Margin is especially important when it comes to leveraged positions, which allow traders to control a multiple of their deposit, such as opening a $10,000 position with only $1,000 in their account.
Now that Bitcoin has been in the red for three days in a row, there is a chance that the world’s oldest and largest cryptocurrency could sink even further, BRN analyst Valentin Fournier said in a note shared with Decrypt.
“Bitcoin has closed in the red for three days in a row, with one-way trading showing limited resistance from bulls. Ethereum had a slightly positive Monday with strong resistance from bears who have won the last two days,” he wrote. “This momentum could take BTC to the $62,500 resistance or even the $58,000 territories.”
Looking ahead, Fournier said BRN’s strategy will be to “reduce exposure to Bitcoin and Ethereum and find a better entry point after the dip.”
This is despite Federal Reserve Chairman Jerome Powell’s comments yesterday on interest rates being widely regarded as accommodating and indicative of FOMC rate cuts in September.
Singapore-based cryptocurrency trading firm QCP Capital said the rally in stocks, which sent the S&P 500 up 1.6% from Wednesday’s close, was not felt in cryptocurrency markets.
“Cryptocurrencies have seen a broad sell-off overnight and into this morning,” the firm wrote in a trading note. “The market remains poised as traders pay close attention to daily ETH ETF outflows and further supply pressure from Mt Gox and the US government.”
Meanwhile, the other top-ranking coins are showing mixed performance.
Solana (SOL) is down 7.2% since yesterday to $169.13. Things are even worse for its most popular meme coins. In the past 24 hours, the most popular meme coins Dogwifhat (WIF) are down 12% and BONK (BONK) is down 9%, according to CoinGecko data.
Their dog-themed competitor, Ethereum OG Dogecoin (DOGE), the only meme coin in Coingecko’s top 10, is down nearly 4% since yesterday and is currently trading at $0.1205.
XRP (XRP) dropped to $0.608, which is 7% lower than it was at this time yesterday.
Binance’s BNB Coin (BNB) has kept pace with BTC and is currently trading at $571, down 2.4% from yesterday. Toncoin (TON), the native token of The Open Network, is down just 0.4% over the past day.
This leaves the stablecoins USDC (USDC) and Tether (USDT), both of which are stable as they maintain their 1:1 ratio with the US dollar.
The Securities and Exchange Commission (SEC) will hold another closed-door meeting with Ripple on Thursday, as the market hopes for a possible resolution to the legal battle between the two entities.
However, the cryptocurrency market remains relatively bearish, with the price and trading volume of XRP down in the last 24 hours.
Ripple holders take no risk
At press time, XRP is trading at $0.60. The altcoin’s price has dropped 6% over the past 24 hours. During that time, trading volume was $27 million, down 27%.
The SEC met before with the digital payment company on July 25. While the outcome of that meeting remains unknown, the Sunshine Act Notice for Thursday’s meeting includes one additional topic of discussion from the July 25 closed meeting: the instituting and resolving injunctive relief. That has market participants speculating whether a settlement is imminent.
In an exclusive interview with BeinCrypto, Ryan Lee, Lead Analyst at Bitget Research, noted that:
“This meeting will discuss possible resolution options for the Ripple Lawsuit. The founder of Ripple Labs said that a legal settlement could be announced soon. If an official settlement plan is released, it could positively impact XRP’s price movement.”
However, an assessment of XRP’s price movements on a 4-hour chart shows a spike in bearish bias as the market awaits the outcome of this crucial meeting. Its Moving Average Convergence/Divergence (MACD) indicator readings show that its MACD line (blue) has crossed below its signal line (orange).
XRP 4 Hours Analysis. Source: Trading View
Traders use this indicator to gauge price trends, momentum, and potential buying and selling opportunities in the market. When an asset’s MACD is set this way, it is a bearish signal that suggests selling activity is outweighing buying momentum.
Additionally, the altcoin relative strength index (RSI), at 46.08, is currently below its neutral 50 line and in a downtrend. This indicator measures overbought and oversold market conditions for an asset.
To know more: How to Buy XRP and Everything You Need to Know
XRP 4 Hours Analysis. Source: Trading View
At 43.83 at the time of writing, XRP’s RSI suggests a growing preference among the market participants for tokin distribution.
XRP Price Prediction: Derivatives Traders Exit Market
The XRP derivatives market has also seen a decline in trading activity over the past 24 hours. According to Coinglass, derivatives trading volume has plummeted 18% and open interest has dropped 10% during that period.
Open interest refers to the total number of outstanding derivative contracts, such as options or futurethat have not yet been resolved. When it drops, traders close their positions without opening new ones. This is a bearish signal that reflects a lack of confidence in any potential positive price movement.
According to Lee, the outcome of the meeting with the SEC “would have a significant impact on the price movement of the token.” If the outcome is favorable, the price of the token could rise towards $0.75 in August.
To know more: Ripple (XRP) Price Prediction 2024/2025/2030
XRP 4 Hours Analysis. Source: Trading View
On the other hand, if no favorable resolutions are reached, the price could plummet to $0.50.
Disclaimer
In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto strives to provide accurate and unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our Terms and conditions, Privacy PolicyAND Disclaimers They have been updated.
Bitcoin is now the dominant force in the cryptocurrency market, surpassing 53% of the total cryptocurrency market, a stronger share than it has been in the past three years.
Bitcoin’s market cap now stands at $1.27 trillion, second according to CoinGecko data. In contrast, the total cryptocurrency market cap is $2.43 trillion, with Ethereum occupying 15.9% of the market, worth $389 billion.
Bitcoin’s rise to dominance this year is unusual, as altcoins typically do better than Bitcoin in a bull market. While meme coins made a strong comeback during Bitcoin’s rally to all-time highs earlier this year, the so-called “wealth effect” It has not been appreciated as much by mid-range coins, such as Ethereum and Cardano.
“ETF flows fundamentally alter market dynamics,” he wrote Meltem Demirors, former chief strategy officer at CoinShares, tweeted Wednesday: “BTC gains no longer translate to alts and the longer tail of crypto.”
Bitcoin’s takeover has continued even as the market cap of Tether (USDT) continues to grow, the world’s largest stablecoin and the third-largest cryptocurrency after BTC and ETH. Stablecoins are backed by fiat currencies and are excluded from some measures of Bitcoin dominance due to fundamentally different value models.
The surge continued to pace even after the launch of Ethereum spot ETFs last week, which ironically culminated in a news sell-off event, and net outflows from new investment products since they were launched. This went against the predictions of K33 Search so far, which predicted that ETFs would catalyze ETH’s growth over the next five months.
Despite the poorer performance of the alts, there is reason to believe that they are ready to bounce back very soon.
CryptoQuant CEO Ki Young Ju said Tuesday that whales are “preparing for the next altcoin rally,” as limit buy orders for assets other than BTC and ETH are on the rise.
The executive shared a chart showing how the “cumulative difference between purchase volume and sales volume” has increased in recent months.
“The indicator measures the difference between buy and sell orders over a year,” CryptoQuant told Decrypt. A buy/sell order is a pre-set request to buy or sell a cryptocurrency if it hits a certain price level, which creates resistance and support levels.
“If the trend is up, it means that more people are placing buy orders, showing strong interest in buying,” CryptoQuant said.
By Ryan-Ozawa.
After Monday’s crash, in which BTC fell by several thousand dollars, the scenario has repeated itself once again in the last 12 hours, with the asset falling to a 2-week low of $63,300.
Alt coins followed suit, with most of the market in the red today. SOL and XRP lead the way from the higher cap alts.
BTC Drops To $63.3K
After a violent Thursday last week, when BTC crashed to $63,400, the asset went on the offensive over the weekend and surged above $69,000 on Saturday, as the community prepared for Donald Trump’s appearance at the 2024 Bitcoin Conference in Nashville.
His speech was followed by more volatility before the cryptocurrency settled around $67,500 on Sunday. Monday started off rather optimistically for the bulls as bitcoin hit a 7-week high of $70,000.
However, he failed to maintain his run and conquer that level decisively. On the contrary, he was rejected bad and dropped to $66,400 by the end of Monday. Tuesday and Wednesday were less eventful as BTC remained still around $66,500.
The last 12 hours or so have brought another crash. Bears have pushed the leading digital asset down hard, which has fallen to a 2-week low of $63,300 (on Bitstamp), leaving over $200 million in liquidations.
Despite the current rebound to $64,500, BTC’s market cap has fallen to $1.270 trillion, but its dominance over alts is recovering and has reached 52.6%.
Bitcoin/Price/Chart 01.08.2024. Source: TradingView
The Alts are back in red
Ripple’s native token has been at the forefront of the market challenge in recent days as pumped up to a multi-month high of over $0.66. However, its run was also interrupted and XPR fell by more than 6% in the last day to $0.6.
The other big loser among the larger-cap alternatives is SOL, which has lost 8% of its value and is now struggling to get below $170.
The rest of this altcoin cohort is also in the red, with ETH, DOGE, BNB, AVAX, ADA, SHIB, and LINK all seeing drops between 2 and 5%.
The total cryptocurrency market cap lost another $70 billion overnight, falling below $2.4 trillion today on CG.
Cryptocurrency Market Overview. Source: QuantifyCrypto SPECIAL OFFER (sponsored)
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Cryptocurrency Charts by TradingView.
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