Top 5 Cryptocurrencies to Invest in Now: Hedera, Pyth Network, Gala, Core (Nov 5)
Investors Eye Affordable Crypto Tokels Amid Bullish Bitcoin Outlook
Financial advisory firm Bernstein has predicted that Bitcoin (BTC) could reach an astonishing $200,000 by late 2025, regardless of the US presidential election outcome. Known for its expertise in emerging markets, including digital assets, Bernstein's recent projection has ignited interest across the cryptocurrency sector.
This optimistic forecast signifies the firm's faith in Bitcoin's robustness and long-term growth potential, underscored by factors beyond political shifts. As a result, investors are on the hunt for budget-friendly tokens to capitalize on the forecasted market growth, with a particular focus on the best altcoins to buy now.
5 Promising Altcoins to Consider
- Hedera (HBAR)
The HBAR Foundation has announced a collaboration with Chainlink as part of the Chainlink SCALE initiative. Hedera Hashgraph's (HBAR) price currently stands at $0.044656, marking a 3.87% increase over the past 24 hours. However, the market sentiment surrounding HBAR remains bearish, although the Fear & Greed Index indicates a "greed" sentiment among investors.
The upcoming launch of bonzo_finance marks a significant milestone for Hedera DeFi, offering retail and institutional users a chance to leverage decentralized borrowing and lending capabilities utilizing unique network features in web3.
With a 24-hour volume-to-market cap ratio of 0.0684, HBAR boasts relatively high liquidity compared to its market capitalization, appealing to traders seeking an active market.
- Pyth Network (PYTH)
AGDEX has partnered with Pyth Network, a leading oracle protocol connecting market data sources to applications across numerous blockchains. This collaboration aims to bolster AGDEX's DeFi ecosystem by integrating Pyth's robust data feeds, enhancing the platform's security and reliability for users.
Pyth Network's token (PYTH) currently trades at $0.3337, representing a slight decrease of 0.39% over the past 24 hours. The market sentiment remains bearish, but the Fear & Greed Index suggests a level of investor “greed” at 69. Forecasts for November 2024 propose a potential price growth, with estimates ranging from $0.3324 to $1.1296, indicating possible returns of up to 238.51% should the market trend shift.
- Flockerz ($FLOCK)
Amid a crowded market of animal-themed meme coins, Flockerz ($FLOCK) aims to distinguish itself with a "vote-to-earn" (V2E) model. Positioned as a “People's Meme Coin,” Flockerz welcomes token holders to participate in the project's governance through a decentralized autonomous organization (DAO) called Flocktopia. This structure enables equal participation from each member, or “Flicker,” while rewarding them in $FLOCK for active involvement. Since the presale launch, Flockerz has attracted significant attention, reportedly raising $1.25 million in just weeks.
The V2E feature of Flockerz allows users to earn additional tokens for voting on governance issues, fostering an alignment between community engagement and the project's success. By encouraging frequent participation, the DAO model helps guide the project's direction, creating a sense of ownership among the community.
- Gala (GALA)
Gala, a Web3 ecosystem powered by the layer-1 blockchain GalaChain, caters to its entertainment network, initially including Gala Games, Gala Music, and Gala Film. However, GalaChain has expanded its horizons to accommodate external developers from various industries, offering open-source tools to make integration easier. Through resources like the GalaChain SDK and Creator Portal, Gala empowers creators across sectors to leverage the benefits of Web3 for their communities.
GALA's price currently stands at $0.018141, reflecting a 0.41% rise over the past day. Although sentiment remains bearish, the Fear & Greed Index shows investor "greed" at 69. Recent predictions suggest that November could push GALA's price towards $0.035429, with a potential trading range between $0.01788 and $0.060912. If investors buy now and later sell at predicted highs, a return of around 236% could be possible.
- Core (CORE)
In response to rising demands for utility and yield opportunities in Bitcoin, innovations like Ordinals, BRC-20 tokens, Bitcoin Layer 2 solutions, and Bitcoin sidechains have aimed to meet this need, introducing features such as NFTs and basic smart contracts to Bitcoin's ecosystem. Core Blockchain offers a promising approach to providing sustainable yield on Bitcoin, operating as a Proof of Stake (PoS) layer for Bitcoin, providing new yield-generating opportunities without altering Bitcoin's original Proof of Work (PoW) protocol. Core's approach addresses long-standing concerns within the crypto community about asset custody.
Core's time-lock feature also encourages a long-term holding strategy, appealing to those who believe in Bitcoin's long-term value potential. Staking provides yield and supports Core's network security and decentralized finance (DeFi) activities, transparently generating this yield.
From a market perspective, Core DAO's price trends seem to support its potential, with Core's DAO token trading at approximately $0.80, marking a 0.17% decrease over the last 24 hours. Over the past year, however, it has grown by 76%, outperforming 60% of the top 100 crypto assets. It trades above its 200-day simple moving average (SMA) by nearly 14%, signaling a relatively strong price position near a recent high.
For additional insights, you can refer to our previous best altcoins to buy now post, and don't forget to join our Telegram channel for updates on breaking news coverage. Stay informed and make strategic investment decisions!
Investors are looking into affordable cryptocurrency tokens, such as HBAR, PYTH, FLOCK, GALA, and CORE, as they capitalize on the forecasted market growth and the bullish Bitcoin outlook. For instance, HBAR, with its relatively high liquidity, is attracting traders seeking an active market, while GALA, a Web3 ecosystem, offers potential returns of around 236% by November, should the market trend shift. Meanwhile, Core DAO's price has grown by 76% over the past year, suggesting a relatively strong position in the market.
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