On the 20th of this month, the Bitcoin halving took place; however most might be unaware of what really happened since the halving didn’t feature any major announcements or bell ringing of any kind. Infact, Bitcoin price still being relatively stable leaves some investors wondering if any change really happened. While the immediate impact may not be apparent, the Bitcoin halving's effects often unfold gradually over time, influencing the broader cryptocurrency market.
Notably, the halving directly affects Bitcoin miners whose block rewards are cut into half, thereby impacting profitability and industry dynamics. Moreso, Bitcoin halving usually includes a 50% reduction in the rate of new Bitcoins entering circulation, which further intensifies Bitcoin's scarcity.
This inherent deflationary feature sets the stage for a possible long-term upward push on Bitcoin's value. But according to Megan Stalz, “The halving is often portrayed as a short-term event, but it can take several months to see the full effect.” In short, Bitcoin price will see positive changes gradually. While the wait has commenced for a forthcoming BTC rise, here are the top altcoins to buy for a good chance of earning substantial profits.
Best Altcoins to Buy For Investment Returns
Here are the top cryptocurrencies you should consider adding to your portfolio this year to gain substantial revenue;
KangaMoon (KANG) Is Currently The Hottest Token in the Meme Coin Market
KangaMoon (KANG) stands out among the leading meme coins poised for significant gains, riding a wave of success in its presale stages. Having reached the final stage of its presale, KangaMoon is booming with a robust community of over 20,000 members and 6000 plus token holders. And most importantly, throughout the presale stages, the native $KANG token has surged by 290% from $0.005 to $0.0196, delivering substantial returns for early buyers.
Besides, the community members are eagerly anticipating KangaMoon's P2E game, where KANG will function as the primary in-game currency, allowing players to upgrade characters and obtain various in-game items. Additionally, KangaMoon plans to engage KANG holders through regular challenges, offering extra tokens and in-game rewards weekly, monthly, and quarterly. This passive income opportunity ranks it among the best altcoins to buy this year.
Furthermore, the project's alignment with the booming Play-to-Earn (P2E) gaming industry, projected to hit $380 million by 2027 according to CoinMarketCap, highlights its substantial growth potential within the meme coin and DeFi sectors. As such, analysts anticipate KangaMoon's listing on a Tier-1 CEX in Q2 2024 to propel its value to $1 before the end of the year. Meanwhile, the ongoing presale has already raised over $5 million, with expectations of hitting the $6 million funding milestone before the end of April.
With a strong focus on community engagement, KangaMoon rewards active members with complimentary KANG tokens before the official game launch, driving heightened interaction across its social media platforms as users vie for free tokens, as promised by the platform. This further bolsters its potential for price appreciation and adoption.
Solana (SOL) Is Not Drastically Losing Momentum Anytime Soon
Solana (SOL) has gained significant attention for its high throughput and low transaction costs, making it a preferred platform for decentralized applications (dApps) and smart contracts. Its robust ecosystem, including projects like decentralized finance (DeFi) protocols, non-fungible tokens (NFTs), meme cryptocurrencies and gaming applications, positions SOL as a potential beneficiary of increased activity and demand.
Throughout last year, Solana price registered over 800% increase; albeit, with a slight decline, this figure has reduced to a little over 600%. In the past week, Solana coin has held its ground within a price range of $128 and $155, after falling by nearly 11% in the past month. Though volatility is active, Solana is still gaining by over 7% this past week.
Meanwhile, the recent increased interest in Solana’s meme coins including Bonk, Dogwifhat and BOOK OF MEME represents a substantial influence on Solana coin itself, signaling it among best altcoins to buy this year..
Injective (INJ) Has Reached ATH Levels And May Go Higher As DApps Adoption Rise
Injective (INJ) Protocol stands out for its decentralized derivatives exchange, offering users access to a wide range of financial products, including futures, options, and decentralized perpetual swaps. With the decreasing Bitcoin mining rewards, Injective's platform could see increased interest as traders and investors seek diverse investment opportunities beyond traditional cryptocurrencies.
In the past month, Injective token reached an ATH of $52.62 but later declined gradually and has now settled in a weekly price range between $23.55 and $29.74. Regardless, Injective token is still in its highest levels compared to previous years. The token is reflecting over 12% rise this past week with the potential to recover from its monthly 20% decline. As demand for decentralized financial services grows, Injective Protocol's utility and potential for substantial gains become increasingly relevant.
Polkadot (DOT) Multi-Chain Architecture Is a Huge Growth Factor
Polkadot (DOT)'s unique multi-chain architecture and interoperability capabilities make it a promising ecosystem for blockchain projects and developers. This year, Polkadot's ability to facilitate seamless communication and collaboration between different blockchains is bound to become more valuable as only Cosmos shares this similarity with Polkadot.
Polkadot token had a good week, going up by over 8% and trading between $6.40 and $7.51. While it dropped by 18% in the last month, it gained 78% in the past six months. Polkadot token is currently doing well above certain average price levels, but its high Relative Strength Index of 72.18 suggests it might be overpriced. Looking ahead, the price of Polkadot could keep growing, aiming for $7.91, but there might be challenges along the way.
Binance (BNB) May Stay Being The Top Crypto Exchange After 10 Years
Binance coin has established itself as a key player in the cryptocurrency space, primarily driven by its utility within the Binance ecosystem, one of the largest cryptocurrency exchanges globally. As Bitcoin mining rewards decrease, BNB's utility expands beyond its initial use cases, including trading fee discounts, token burns, and participation in Binance Launchpad projects.
Recently Binance coin surpassed $570 which was possibly influenced by ETHFI on the BinanceLaunchpool and the upward movement of BTC. However, Binance coin is still projected to hit the $650 price mark. The token holds in a weekly price range of $519 and $607 and with an 8% rise in the past month, Binance is set to rise in value substantially, this year.
Discover the Exciting Opportunities of the KangaMoon(KANG) Presale Today!
Website:https://KangaMoon.com/
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