Investors continue to seek out investment options beyond Bitcoin due to its popularity, resulting in increased interest in altcoins. The crypto world buzzes with enthusiasm as the highly-anticipated Bitcoin halving event approaches on April 4, 2024. Despite the present market downturn, recent trading signals hint at potential lucrative opportunities for investors. Here are five promising altcoins that could yield impressive returns before the Bitcoin halving occurs:
1. Foxy (FOXY)
On April 12, 2024, the freshly introduced Foxy token became available for trading at a price of $0.01887. Despite a minimal daily rise of 0.87%, this token has attracted substantial interest in the marketplace. The impressive trading volume of $136.94 million is evidence of this attention. At present, there are approximately 3 billion FOXY tokens circulating, which equates to a modest market capitalization of $56.61 million and a ranking of 111 on CoinMarketCap. Over the past week, Foxy experienced an encouraging increase of 28.07%, indicating potential for profitability. However, given its current low market cap, there is ample opportunity for further expansion.
The Linea blockchain community uses Foxy as a fun and symbolic representation. Foxy functions as a shared inside joke and a bonding element among Linea users, promoting a sense of camaraderie.
2. Ethena (ENA)
In simpler terms, the cost of Ethena is now $1.27, representing a noteworthy drop of nearly 10% within the last day. Its market worth is estimated at a substantial $1.81 billion, with an impressive daily trading volume of $1.55 billion. This high trading volume indicates a strong belief in Ethena among investors. Over the past week, there has been a 17.2% rise in Ethena’s value, while its price has surged by 85.1% over the last month. The token’s consistent growth and substantial trading activity suggest it could continue to prosper.
Ethena is a digital currency system built on Ethereum, providing an alternative to conventional banking systems with its cryptocurrency features. It also offers a global savings instrument accessible anywhere, which is referred to as the “Internet Bond.”
3. Toncoin (TON)
The current value of Toncoin (TON) is $6.62, representing a 7.82% decrease in the last 24 hours. Nevertheless, Toncoin boasts one of the biggest market capitalizations among altcoins, amounting to $22.97 billion. Over the past week, Toncoin’s value has surged by 20.62%, while the previous month brought a significant increase of 55.83%. The total circulating supply of Toncoin consists of 3.47 billion TON tokens. Given its consistent growth, substantial market cap, and impressive trading volume, Toncoin is an appealing option for potential investors.
TON is a blockchain that puts emphasis on catering to regular users with its quick transaction processing speed, demonstrated by its remarkable achievement of 55,000 transactions per second (TPS) in September 2021. With capabilities for potentially hundreds of thousands or even millions of TPS, TON supports swift expansion without compromising performance or negatively impacting the environment.
4. Chintai Token (CHEX)
Chintai, which is valued at $0.318, despite having experienced a significant 15.38% decline in price over the past day. CHEX has a market capitalization of $317.14 million, with 997.24 million coins in circulation. It has recorded a trading volume of 8.51 million over the past 24 hours, demonstrating a heightened trading activity. Chintai token has experienced impressive growth of 46.73% and 121.07%, over the last seven days and 30 days respectively. This shows that the token is an emerging player to watch, for significant potential gains and growth.
The CHEX token functions as the essential token within the Chintai Network, primarily responsible for overseeing network resources and boosting liquidity through inventive reward schemes.
5. PAX Gold (PAXG)
The current price of PAX Gold is $2,363.60 with a slight decrease of 1.35% in the past day. The market cap of PAXG is $431.70 million, and there are 182,647 PAXG in circulation. In the same period, the trading volume reached $33.23 million, soaring in value by 2.29% and 9.54% over the past week and month respectively.
Paxos Standard, the team behind it, introduced Pax Gold (PAXG) as a new kind of digital currency in September 2019. Based on the Ethereum blockchain, this ERC-20 token represents real gold. By doing so, traders can easily invest in this valuable metal without dealing with the usual limitations, such as minimum purchase amounts.
Conclusion
For those looking to make profits before the Bitcoin halving, several alternative coins provide intriguing investment opportunities. However, it’s essential to consider each option carefully, taking into account one’s risk tolerance, since every altcoin comes with unique features and potential risks in the unpredictable markets.
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2024-04-13 15:48