5 Best Altcoins to Buy Now October 29 – Ethena, Bitcoin SV, THORChain, Sui

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Insidebitcoin2024/10/30 04:55

coin_news.by:Insidebitcoin

The crypto market is showing renewed strength, with current net inflows mirroring those seen during the market surge in February, suggesting that a comparable upswing could be approaching. In February, prices rose significantly, and a similar pattern might be unfolding now.

With increasing capital moving into Bitcoin and altcoins, the market could be setting up for another breakout. Experts indicate that external conditions appear supportive, and if this trend holds, Bitcoin might hit $100k, with altcoins potentially gaining from the increased momentum. In light of this, investors are searching for affordable tokens, particularly the best altcoins to buy now.

5 Best Altcoins to Buy Now

Ethena (ENA) is currently priced at 0.384922, marking a 13.89% increase in the last 24 hours. Bitcoin SV (BSV) has recently caught the interest of short-term investors and traders due to its price moving above $50, accompanied by considerable volatility. Thorchain’s token, RUNE, is showing strong performance today with a 5.50% price rise and a significant 99.42% surge in trading volume.

Sui Crypto’s value is at 1.893078, reflecting a 9.7% gain over the past 24 hours. Pepe Unchained (PEPU) has gained traction within the cryptocurrency community, standing out as one of the fastest-growing presales of 2024. Meanwhile, Bitcoin has surged to over $70,000 for the first time since June as investors closely watch upcoming earnings.

1. Ethena (ENA)

Ethena (ENA) is currently valued at 0.384922, reflecting a 13.89% increase in the past 24 hours. This recent price movement has resulted in a high 24-hour volume-to-market-cap ratio of 0.5107, which signals notable liquidity based on the token’s market cap.

As of October 29, 2024, the general sentiment for Ethena’s price prediction is neutral. Sixteen technical indicators currently show bullish signals, while eight show bearish ones. This balance suggests that market dynamics could continue to influence price movement in either direction.

Forecasts for November suggest the positive trend may continue, with prices potentially reaching a high of 1.444115. The expected trading range for ENA is from 1.122966 to 1.712649, reflecting last month’s performance. If this upward trend holds, investors might see a return of up to 345.36%.

2. Bitcoin SV (BSV)

Bitcoin SV (BSV) recently attracted increased attention from short-term investors and traders as its price moved past $50, showing high levels of volatility. Currently, BSV has risen by 17% within the last 24 hours, trading at $52.95 with a market cap of $1.05 billion, placing it as the 67th-largest cryptocurrency. Its daily trading volume surged by 215% to reach $93 million, reflecting heightened trading activity.

BSV’s recent price increase is partly aligned with the broader crypto market rally, with total market capitalization reaching $2.5 trillion. Bitcoin (BTC), for instance, rose to $71,000, its highest since June.

In addition to the price rise, open interest in BSV saw a notable 63% jump, from $7.6 million to $12.4 million over the past day. This increase in open interest, alongside rising trading volumes, suggests a heightened interest in BSV among traders. Many appear to be speculating on short-term gains, particularly as some anticipate a potential price decline.

The prevailing sentiment around BSV has been largely neutral over the past month, though there were brief fluctuations on October 18 and 25. Given the current mix of market conditions, the possibility of short liquidations could create further upward or downward price movements.

3. THORChain (RUNE)

Thorchain’s native token, RUNE, performed strongly today, recording a price increase of 5.50% alongside a notable 99.42% boost in trading volume. This uptrend reflects heightened buying interest in the token, suggesting positive market momentum.

Experts note that RUNE could experience further gains if it surpasses a key resistance level of $5.714. They point to a possible breakout that may drive the token’s price higher should this hurdle be cleared.

In terms of technical analysis, RUNE’s price chart indicates a period of consolidation, with price action remaining within a narrow range just below the $5.714 resistance level. Two moving averages on the chart—a green line for short-term trends and a red line for longer-term trends—illustrate the fluctuation between bullish and bearish conditions. RUNE’s recent position above the short-term (green) moving average suggests the potential for an ongoing uptrend.

4. Sui (SUI)

Major League Soccer (MLS) has announced a new partnership with Sweet, a Web3-focused digital marketing firm, to launch its NFT collectibles platform, MLS QUEST, on the Sui network. Through this initiative, MLS aims to boost fan engagement and broaden its digital presence using blockchain technology.

The partnership with Sweet underscores MLS’s interest in integrating Web3 technology. Sweet brings blockchain marketing expertise that may help MLS deliver a streamlined and immersive experience for fans on MLS QUEST. The Sui Network was chosen for its scalability and reliability, which should support seamless management of these digital assets. This collaboration could represent a significant step for MLS, merging traditional sports with blockchain-driven fan engagement.

Sui Crypto is currently priced at 1.893078. It recently saw an increase of 9.7% over the last 24 hours, reflecting a generally positive market sentiment. The token’s trading price is now significantly above the 200-day simple moving average, showing an impressive 223.12% increase from the $0.583722 mark. Additionally, Sui’s consistent performance has been marked by 15 green days in the past month, indicating ongoing market interest and investor confidence.

5. Pepe Unchained ($PEPU)

Pepe Unchained (PEPU) has recently attracted considerable attention in the cryptocurrency community, emerging as one of the fastest-growing presales of 2024. This rise is notably marked by a substantial investment from a whale investor who bought $58,500 worth of $PEPU, equivalent to approximately 23.4 Ethereum. Such investment suggests confidence in Pepe Unchained’s vision.

At present, the crypto market’s Fear and Greed Index shows a state of “greed” at a level of 59, mirroring conditions seen in previous bull runs. This sentiment aligns with growing anticipation for a market upswing, potentially positioning Pepe Unchained as a lead project in the meme coin space. As a result, the presale has neared a $23 million milestone, with the current price of $PEPU at $0.01179 and slight increments at each stage, indicating solid interest from investors.

An attractive aspect of Pepe Unchained’s presale is its staking protocol, which allows participants to stake tokens immediately. With an APY of 100%, this feature has already led to more than 1.5 billion $PEPU tokens staked. In addition, the project has passed audits from SolidProof and Coinsult, which helps boost investor confidence regarding security.

The core objective of Pepe Unchained is to address the high transaction costs that affect meme coin trading on the Ethereum network. By creating its Layer-2 solution, Pepe Chain aims to offer faster, more affordable transactions and support for the broader ecosystem. Beyond reduced fees, Pepe Chain provides unique features, including a native block explorer, decentralized exchanges, cross-chain bridging, and in-depth analytics.

Visit Pepe Unchained Presale