Top Crypto to Invest in Right Now October 12 – Tezos, Ethena, Stacks

0
12

Join Our Telegram channel to stay up to date on breaking news coverage

Meme coins have experienced a sharp rise in value over the past 24 hours, with some of the largest gains seen in coins like Shiba Inu (SHIB), Popcat (POPCAT), Dogwifhat (WIF), and First Neiro on Ethereum (NEIRO). While altcoins have also seen growth during this period, meme coins have taken the lead in terms of overall performance.

Altcoins continue to gain traction, attracting the attention of developers and investors alike. Each blockchain offers specific features that appeal to different use cases within the crypto ecosystem. In this analysis, we will examine the top crypto to invest in right now. 

Top Crypto to Invest in Right Now

Theta Labs has collaborated with the Vegas Golden Knights to launch an AI chatbot powered by Theta’s EdgeCloud platform. Meanwhile, Ethena’s native token, ENA, has experienced significant growth lately. Similarly, Stacks has demonstrated robust performance and stability in the market.

1. Theta Network (THETA)

Theta Labs has partnered with the Vegas Golden Knights to introduce an AI chatbot supported by Theta’s EdgeCloud platform. This chatbot will launch on the team’s website during the 2024-25 NHL season. It will help fans by providing information about event schedules, game details, merchandise, and hockey rules. 

According to Theta’s co-founder and CEO, Mitch Liu, the bot is built using generative AI with “agentic AI” features, which makes it more capable of giving hockey-specific responses. It will also have a personality that fits the Golden Knights’ brand.

Previously, Theta Labs worked with the Golden Knights on an exclusive NFT series and has collaborated with other entertainment entities, such as Resorts World and Katy Perry. This chatbot is their first AI engagement project, and there are plans to introduce it to other sports teams in the future potentially.

Meanwhile, THETA has experienced a 7.38% increase in the past 24 hours and a 0.50% rise over the last week, now trading at $1.32. The token shows strong liquidity, supported by its market capitalization. The 14-day Relative Strength Index (RSI) sits at 58.16, indicating neutral market conditions. If the momentum continues and the price breaks above its moving averages, THETA could potentially reach $1.36 by November, according to Coincodex.

2. Tezos (XTZ)

Tezos is a blockchain platform that supports digital assets and decentralized applications. It emphasizes security, on-chain governance, and decentralization. The platform focuses on code security through formal verification and its unique on-chain governance system. This system lets token holders propose and vote on changes, allowing the network to update without needing hard forks.

Furthermore, Tezos uses a Liquid Proof-of-Stake (LPoS) consensus mechanism, which allows token holders to delegate staking rights while maintaining ownership of their tokens. This flexibility is one of the core features of the network.

XTZ Price Chart

Tezos 2.0 is an upcoming upgrade aimed at improving scalability through layer 2 solutions. It will also add support for programming languages like Javascript, Typescript, and Python, making it more accessible for developers to build on the platform.

Currently, Tezos is trading at $0.6993, showing a 5.60% increase for the day. The price trend remains upward with no clear signs of reversal. In the past 24 hours, the price ranged from a low of $0.6619 to a high of $0.6998. Over the past month, Tezos has seen 16 green days, suggesting steady market activity. The 14-day RSI is 49.18, indicating the token is neutral and could trade sideways in the short term.

Analysts expect Tezos to potentially reach $1.27 by 2025, depending on market conditions. While the outlook is cautiously optimistic, much will depend on the adoption of new upgrades like Tezos 2.0 and the broader market environment.

3. Ethena (ENA)

Ethena (ENA) operates on the Ethereum blockchain, offering a unique approach to cryptocurrency investment and global savings through its synthetic dollar protocol. This system aims to create a digital asset pegged to the U.S. dollar, providing stability in a volatile crypto market. Ethena also encourages user participation through AirDrop reward programs, one of which recently saw 750 million ENA tokens distributed to shard holders.

The price of Ethena’s native token, ENA, has seen notable growth recently. At press time, ENA experienced a price surge of over 17%, bringing its value above $0.33. The token has recorded further growth, gaining 10.17% in the past week and 60.40% last month. 

ENA Price Chart

This price increase coincides with Ethena’s decision to allocate $46 million from its Reserve Fund into tokenized RWAs. This is a significant move toward integrating traditional financial systems with blockchain technology. Furthermore, Ethena’s investment in RWAs aligns with a broader trend within decentralized finance (DeFi), where platforms seek to bridge the gap between conventional finance and decentralized systems. 

By incorporating real-world assets into its ecosystem, Ethena positions itself to grow further, potentially strengthening the value of the ENA token. This development underscores a growing interest in blending traditional financial instruments with blockchain, aiming for a more inclusive and stable financial ecosystem.

4. Flockerz (FLOCK)

Flockerz introduces a unique Vote-to-Earn (V2E) model designed to reward token holders for participating in governance votes. This model stands out within the decentralized finance space, as it encourages active involvement from its community, differentiating itself from other projects in the sector.

Built on the Ethereum blockchain, Flockerz aligns itself with the growing trend of meme coins but brings a distinct narrative. Its mission focuses on empowering its community by giving members a voice in key decisions and promoting decentralization at the core of its operations. The project emphasizes that token holders are the sole decision-makers, aligning with the broader ethos of decentralization in the crypto world.

Through the Vote-to-Earn system, FLOCK token holders can participate in decision-making processes that influence the project’s direction. This could include input on expansion plans, marketing strategies, token burns, and future feature development. By taking part in these governance activities, community members are rewarded with additional FLOCK tokens.

This provides a direct incentive for engagement. This aligns the interests of the participants with the project’s growth and success.

At the time of writing, Flockerz has raised over $646,000, demonstrating early interest and engagement. The project’s approach promotes a collaborative environment, encouraging participants to take responsibility for the project’s development. 

Visit Flockerz Presale

5. Stacks (STX)

Stacks is a Bitcoin layer that brings smart contracts and decentralized applications to the Bitcoin network. It allows these applications to use Bitcoin as an asset and settle transactions directly on the Bitcoin blockchain. This adds functionality to Bitcoin, which traditionally lacks programmability.

STX Price Chart

The current sentiment for Stacks is bullish, while the Fear & Greed Index shows a neutral score of 49. In the past year, its price has increased by 263%, outperforming 77% of the top 100 cryptocurrencies. Meanwhile, Stacks trades above its 200-day simple moving average, indicating a positive long-term trend.

The 14-day Relative Strength Index (RSI) is at 37.18, placing it in a neutral zone, which suggests the possibility of sideways trading. Over the last 30 days, Stacks had 17 green days, showing positive momentum 57% of the time. 

Stacks has high liquidity in relation to its market cap, making it easy to trade without large price swings. It’s available on exchanges like KuCoin, where it can be traded against the US Dollar. While Stacks has shown strong performance and stability, market conditions can change, and its technical indicators should be watched closely for potential shifts in price movement.

Read More

Most Searched Crypto Launch – Pepe Unchained

Pepe UnchainedPepe Unchained
  • Layer 2 Meme Coin Ecosystem
  • Featured in Cointelegraph
  • SolidProof & Coinsult Audited
  • Staking Rewards – pepeunchained.com
  • $10+ Million Raised at ICO – Ends Soon

Pepe UnchainedPepe Unchained


Join Our Telegram channel to stay up to date on breaking news coverage


Credit: Source link

ads

RELATED ARTICLESMORE FROM AUTHOR

LEAVE A REPLY

Please enter your comment!
Please enter your name here