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Masterminds are eyeing Avalanche (AVAX), Theta Network (THETA), and KangaMoon (KANG) as the top three tokens to watch this month. Notably, KangaMoon is capturing the most interest as the ongoing presale event offers the lowest entry-level and maximum profit potential. Let's look at each token in more detail.
Theta Network (THETA) is a decentralized video streaming network that aims to disrupt traditional centralized platforms like YouTube and Netflix. It uses blockchain technology to create a more efficient, cost-effective, and fair content delivery system.
Theta Network grew by more than 2,000% in the 2020/21 bull run as it gained mainstream attention and FOMO from investors. However, a lack of adoption and the subsequent bear market caused the price to fall from a peak of $15.90 to a low of $0.56 in late 2023.
2024 has seen Theta Network turn a corner and ready to reclaim its former glory. Notably, Theta Network's newly released EdgeCloud unleashes AI computing on Android mobile devices, and it's safe to say it has caught the eye of investors.
The Theta Network price has pumped more than 200% in the last three weeks after a convincing breakthrough of the $1.00 level. Now that the price has solidified its position above $3.00, analysts believe it's only a matter of time before the price breaks through the next resistance at $4.00 and rockets to new highs by Q4 2024.
Avalanche (AVAX) is positioning itself as the most developer-friendly blockchain. It features an innovative architecture designed for the future, which includes customizable subnets and the ability to facilitate cross-chain communication.
Although Avalanche has not yet reached Ethereum's usage level, its Total Value Locked (TVL) has increased to $1.20 billion, indicating strong growth and an expanding ecosystem. Avalanche's native token, AVAX, has grown from $8.80 in October 2023 to $54.79 at the time of writing.
A significant factor contributing to Avalanche's rise is its adoption by JP Morgan for the tokenization and management of digital assets. While no official product using Avalanche has been released by JP Morgan, the blockchain testing shows a strong vote of confidence in its capabilities.
Moreover, Avalanche AAA games are choosing to launch on the network. For example, Korea's largest game studio, Nexon, is building on an Avalanche Subnet. Should these games prove successful, it could lead to a surge in users and transactions on the network.
Technical analysis shows a break of the important $50 level that has acted as resistance since May 2022. The next resistances sit at $80 and $100, but with the strong bullish sentiment, analysts believe Avalanche is starting a fresh bull run toward new highs in the next few months.
KangaMoon is a meme-based P2E game that offers a combination of entertainment and the potential for earnings through competing in mini-games and completing tasks. KANG tokens and NFT assets are given out as rewards for active participation in the game and can be used to purchase in-game items from the marketplace.
Players start with a Kangaroo character that can be upgraded and customized with different outfits, accessories, and abilities. The better the Kangaroo's attributes, the higher their chances of winning competitions and earning more rewards.
At the heart of KangaMoon is the KANG token, the native currency and utility token used within the game. The token is used to reward winners, as a currency in the marketplace, as a governance token for community decisions, and as a means of staking to earn passive income.
KANG tokens are priced at just $0.014 in the fourth presale stage. This price is set to climb a further 320% as the presale progresses, so the earlier investors get involved, the more KANG tokens they can accumulate in their wallets before the game officially launches.
Analysts expect the price of KANG to grow by 320% by the time the presale concludes, with a further 3,500% growth anticipated once it lists on major exchanges. Such predictions are based on KangaMoon's potential to command attention in the thriving $60b memecoin market.
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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.
