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Hong Kong is set to follow the US by listing a batch of cryptocurrency exchange-traded funds, which in-turn provides a window on whether the city could make progress in creating a hub for digital assets. Specifically, China's top asset managers are at the last part of making preparations for spot Bitcoin and Ether ETFs to begin trading by the end of April, as reported by Bloomberg.
As a result of this, the sentiment about the growth of the broader crypto market is currently massive, and investors and traders are now eyeing ways through which they can diversify their holdings in order to get the most out of the market. Out of the thousands of altcoins available, five have stood out the most for their growth potential, and these include KangaMoon (KANG), Hedera (HBAR), Algorand (ALGO), Akash Network (AKT) and NEAR Protocol (NEAR). Today, we will go over each one to determine which is one of the best altcoins to invest in.
KangaMoon (KANG) has showcased bullishness on its charts and has appealed to over 20,000 users who have signed up to use the platform. The key catalyst for this major level of growth is its unique combination of a community-driven approach, Social-Fi elements, and Play-to-Earn (P2E) functionality.
The project separates itself by having a lot of actual utility for its native token. Its used as the in-game currency for the P2E game, in which players are given the opportunity to buy items, level up their characters, and even buy, sell or trade NFTs in order to get far more value. Moreover, holders are provided access to exclusive challenges and in-game items. The presale has raised over $5.6M and can reach $6M by the end of the week. Alongside all of this, KangaMoon recently partnered with RapidSharks in order to boost the community engagement and increase the fun aspect of the ecosystem, with a massive $1,000 in monthly reward pools.
Even during the presale, so far, KangaMoon has risen in value by 290% as it moved up from $0.005 to $0.0196, making it one of the hottest altcoins to diversify with. Anyone can engage in battles, tournaments, and even spectate to place bets on other players within the game to get more KANG tokens or NFTs. As a result, the combination of a unique game, with a massive ecosystem and earning opportunities position it as the go-to crypto. Based on the KangaMoon price prediction by analysts, it can end 2024 with a 5,000% price increase, making it one of the top alt coins to watch.
Hedera (HBAR) is an open-source ledger which utilizes a quick, fair and secure consensus mechanism known as the hashgraph. In addition, it has gathered a reputation by offering services, such as Solidity-based smart contracts and native tokenization, alongside other services required for the development of decentralized applications (dApps), which has made it a top competitor within the Web3 market.
As for the Hedera price performance, the crypto is up 122.4% year-to-date (YTD). Moreover, the Hedera crypto is up 66.2% within a single week, as its value moved up from $0.076 to $0.176, and at this rate has the potential to see far more substantial gains. According to the Hedera price prediction, this crypto can end 2024 with a maximum value of $0.2014, positioning it as one of the greatest altcoins to buy.
Algorand (ALGO) has showcased bullishness as-wekk, as its a blockchain designed to enable anyone to create dApps. What helps the ALGO crypto differentiate itself is that it can be used for the payment of transactions on the network, but not only that, as it can also be staked, and can be used as collateral for receiving blockchain governance votes, equal to the number of staked ALGO tokens.
As for the Algorand crypto's price performance, the price has gone up by 27% year-to-date (YTD). However, despite this, the more recent price performance has also been bullish, as the Algorand price went up by 36.4% within a week, moving from $0.163 to $0.246. At this rate of growth it can pass the $0.3 price barrier, fueled by the overall positive RSI and MACD data. According to the Algorand price prediction it can end 2024 at a value of $0.4267.
Akash Network (AKT) is a network which was built through the usage of the Cosmos SDK and has been implemented on top of that network. It's an open-network that offers users the opportunity to buy and sell any computational resources that they need or have, on its own marketplace. In addition, it connects server owners that require computing power in order to host any applications, or even cloud computing resources.
The Akash Network crypto has displayed major bullishness on the charts as the year-to-date (YTD) climb has been by 1,716%, and at a weekly level its up 30%. During this time, the Akash Network price went up from $3.51, broke past $6 and reached a maximum value at $6.47. As a result, sentiment is now bullish on its future, and according to the Akash Network price prediction it can end 2024 at $9.30, positioning it as one of the hottest alt coins to watch.
NEAR Protocol (NEAR) is a dApp platform and is a main competitor to the Ethereum blockchain that puts its priorities on developer support and user-friendliness. However, its native NEAR token is utilized for the payment of transaction fees and for storage on top of the platform. It offers an open-source platform that's both fast and scalable, and this has enabled it to stand out from most competitors.
As for the on-chart metrics for the NEAR Protocol price, it has gone up by 263.3% in the past year. In addition, on a weekly level, the price has gone up from $5.23 to $7.19, and the NEAR Protocol crypto could soon break past $10 as-well if it regains bullish attention. According to the NEAR Protocol price prediction, it can end 2024 at $14.13, making it one of the most solid altcoins to buy.
It's clear that many altcoins are available and are surging in value., from Hedera, to Algorand, Akash Network and NEAR Protocol, there is a lot to pick from. However, despite their uprise in value, the most significant growth can be made with KangaMoon as its in the presale-stage, and these types of projects have historically provided the highest ROI, making it one of the best altcoins to invest in.
Discover the Exciting Opportunities of the KangaMoon (KANG) Presale Today!
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
