Discover the top 5 altcoins to invest in right now for November 2nd. Coins such as Celestia, Uniswap, Qtum, and Neo hold potential in the cryptocurrency market.
Over the last 24 hours, the total trading volume for cryptocurrencies reached $60.37 billion, indicating a substantial 57.85% surge in trading activity. A noteworthy component of this volume is the decentralized finance (DeFi) sector, which recorded $6.46 billion. This accounts for approximately 10.69% of the total 24-hour trading volume in the cryptocurrency market.
5 Best Altcoins to Invest In Right Now
Stablecoins played a pivotal role in the 24-hour trading volume. They collectively accounted for $54.03 billion, comprising a substantial 89.50% of the total trading volume in the cryptocurrency market. This highlights the increasing utility and demand for stablecoins in the cryptocurrency ecosystem, often used for trading, hedging, and storing value.
1. Celestia (TIA)
Celestia has gained the crypto market’s attention due to its recent mainnet launch, introducing a novel modular data availability network. During this launch, the native token TIA was airdropped to eligible participants as part of their planned distribution strategy.
Furthermore, market response to the launch has been positive, with TIA currently trading at $2.24, reflecting a 6.63% increase over the past 24 hours, according to data from CoinMarketCap. Additionally, TIA has garnered substantial interest, becoming the most searched crypto asset on CoinMarketCap, reflecting the buzz surrounding this token.
TIA’s primary innovation lies in being the first modular blockchain network that simplifies deploying custom blockchains with minimal overhead. This scalability is achieved by reimagining the fundamental architecture of blockchain technology.
Celestia distinguishes itself by decoupling execution from consensus by introducing a new concept, data availability sampling. This approach enables developers to define their execution and settlement environments without imposing constraints. This flexibility opens up new possibilities for builders and developers.
— Celestia (@CelestiaOrg) October 31, 2023
TIA’s latest price is pegged at $2.77, with a 24-hour trading volume of $385,755,427. Over the past 24 hours, TIA has experienced a 25.35% increase in value. Moreover, the coin is currently ranked #94 on CoinMarketCap, with a live market capitalization of $390,642,301.
2. Uniswap (UNI)
Uniswap recently allocated $12 million to develop Ekubo, a decentralized exchange built on Starknet technology. Thus representing a significant move toward decentralizing Uniswap’s protocol development. The proposal involves Uniswap acquiring a 20% stake in Ekubo’s governance tokens, essentially integrating the Ekubo team as core developers.
This proposal has caused some experts to express optimism about the future of the Uniswap (UNI) cryptocurrency. As such, the maximum price projection for UNI is estimated to grow around $11.05 in the face of this update.
Nonetheless, a more conservative estimate suggests that the average price of UNI could reach approximately $9.75 by 2023. In the event of a significant bearish trend in the crypto market, the price of UNI may drop to a minimum of $8.45 by 2023.
Bringing the power of Uniswap to everyone’s pocket
— Uniswap Labs
(@Uniswap) November 1, 2023
As of the most recent data, the live Uniswap price is $4.59, with a 24-hour trading volume of $464,895,267. Uniswap currently holds the 27th position on CoinMarketCap, boasting a live market cap of $2,700,058,651. The circulating supply of UNI coins is 588,187,016, with a maximum supply of 1,000,000,000.
3. Qtum (QTUM)
The Qtum token, introduced to the crypto market, has exhibited notable growth since its inception and achieved a new all-time high in 2028. The Qtum platform features a distinct roadmap, incorporating support for Decentralized Finance (DeFi) applications and hosting over 20 tokens within its blockchain ecosystem.
Moreover, Qtum aims to amalgamate the strengths of Bitcoin and Ethereum on a single blockchain, with its token being listed on reputable exchanges.
As such, expert technical analysis suggests the potential for Qtum’s price to continue ascending over the coming years.
Qtum is a decentralized, open-source cryptocurrency and blockchain platform that simplifies application development and smart contracts. Its innovative features, coupled with robust community support, underpin its potential for future growth.
Qtum (QTUM) price projection suggests that the highest expected price for Qtum by the end of 2023 is approximately $5.29. In a positive crypto market scenario, the average price of Qtum in 2023 is estimated to be around $4.51.
Furthermore, in a bearish market, the lowest anticipated Qtum price in 2023 could drop to $4.13. Nonetheless, a bullish rally is anticipated later in the year, which may lead to a substantial increase in the price of Qtum during the second half of the year.
4. Neo (NEO)
The decentralized finance ecosystem has recently seen a significant development. Neo’s founder, Da Hongfei, introduced a new Ethereum Virtual Machine (EVM) compatible sidechain. This announcement resulted in a 15% intraday increase in NEO’s market price, indicating a positive market response.
Moreover, this newly unveiled sidechain aims to enhance Neo’s platform’s resilience against Miner Extractable Value attacks in the DeFi space. By addressing the issue of MEV attacks, Neo aims to improve the security of transactions.
Notably, this development is built upon the foundational elements of the Neo N3 stack, incorporating features like a dBFT consensus mechanism. It also encompasses NeoVM (a unique non-EVM smart contract system) and a dual-token NEO structure. This strategic integration ensures that the sidechain not only strengthens its defensive capabilities but also offers an improved user experience. Thus expanding its potential within the Neo Ecosystem.
The official launch of this sidechain is expected by the end of 2023. Da Hongfei made this announcement during the Neo APAC Hackathon Hong Kong Finale. With this launch, Neo anticipates entering a new era of innovation and user-centric enhancements.
— Neo Smart Economy (@Neo_Blockchain) October 30, 2023
The market response saw NEO’s price experienced a 15% increase, reaching $8.86. The recorded 24-hour low and high prices were $7.49 and $9.03, respectively. Moreover, there was a more than 200% increase in trading volume within the last 24 hours. Therefore indicating increased interest from traders and solidifying Neo’s position in the DeFi landscape.
5. SpongeBob (SPONGE)
Sponge (SPONGE) is a meme coin that has gained notable attention in cryptocurrency. The coin’s concept revolves around the beloved cartoon character SpongeBob SquarePants.
Its primary objective is to foster a community centered around this character. Thus drawing inspiration from the notion of creating a meme coin akin to the secret recipe for the iconic Krabby Patty in the original cartoon.
— $SPONGE (@spongeoneth) November 1, 2023
Sponge’s market ambitions are clearly outlined to increase its market capitalization to $1 billion, accumulating 100,000 holders, and securing listings on “tier 1” exchanges, among other goals. The coin’s initial launch took place directly on the Uniswap exchange, which contributed to its initial momentum.
In terms of tokenomics, Sponge distinguishes itself from other meme-coins. Of its total token supply of 40.4 billion tokens, 61% is allocated to decentralized exchange (DEX) liquidity, 29% to unity, and 10% to centralized exchange (CEX).
One noteworthy aspect of Sponge is its partnership with Tamadoge, a Web3 gaming project. This collaboration has generated significant interest among cryptocurrency enthusiasts and Web3 technologies.
As of the latest available data, Sponge is trading at $0.000111, with a 24-hour trading volume of $211,270. It has experienced a marginal 0.30% decrease in value over the past 24 hours. Sponge is ranked #2558 on CoinMarketCap, with the live market capitalization not readily available. Details regarding the circulating supply remain undisclosed, while the maximum supply is capped at 40,400,000,000 $SPONGE coins.
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