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Following last week’s market decline, triggered by the Bitcoin price rising to $72,000 on April 8, 2024, the crypto market has turned green again. As Bitcoin’s halving event approaches, it is wondered whether the cryptocurrency market will be able to recover.
According to the sponsored content poster, KangaMoon (KANG), Cardano (ADA), Polkadot (DOT), Solana (SOL) and Chainlink (LINK) are claimed to be watchable altcoins before the halving. These trending tokens are currently recording impressive price movements and it is claimed that Bitcoin may reach new highs along with the bull wave.
KangaMoon (KANG)
New project unlike other cryptos on the market, according to the sponsored content poster KangaMoon (KANG) is designed to accommodate the interactions of meme enthusiasts thanks to its SocialFi structure. KangaMoon’s GameFi feature also attracted investors with its immersive play-to-win gaming adventure that rewards participants with rare NFTs and KANG tokens. The project is new and its future is uncertain. Do your detailed research before taking any action.
The project specifically bridges the gap between the gaming and crypto industry. Moreover, the project is claimed to be community-focused, as active members are rewarded with free KANG when they engage with KangaMoon’s social media content before the official launch.
Challenging the current correction in the market, KangaMoon, whose future is uncertain, allegedly rose after its initial offer of $0.005 for early investors, according to the content creator. Impressively, it has already raised over $4.5 million and is reported to be expected to reach $5 million by the end of April 2024.
The new project, KangaMoon, has positioned itself to enter the P2E gaming industry, which is expected to grow in value to 885 million by 2028. This could allegedly further increase KANG’s popularity and value to the moon.
Cardano (ADA)
Cardano, a proof-of-stake blockchain, is among the largest blockchains successfully running a more energy-efficient protocol. Founded by Charles Hoskinson in 2017, Cardano aims to develop a developer-friendly ecosystem for dApps. The altcoin has a hard limit of 45 billion for the number of coins that can exist.
Defying the odds of most cryptocurrencies entering a new correction in mid-March, Cardano price emerged on an upward trajectory. The current rally may be due to several factors, one of which is an increasing amount of investor interest in other upcoming blockchain platforms. Data from CoinMarketCapreports that Cardano has experienced a significant increase in its price, rising by a staggering 56% in its YDC.
Cardano coin appears to be in the green with all technical indicators, indicating major positive sentiment. Many Cardano price predictions look positive, reporting that the price of Cardano could rise, reaching $1 in 2024.
Polkadot (DOT)
Currently, it is the largest by market cap 15. Polkadot (DOT), a cryptocurrency, has followed a positive trend over the past week. Despite Polkadot’s dismal price action in 2023, its prices have risen from $4.6 to $8.84 at the beginning of the year. Leading market analysts are optimistic that the value of DOT will rise in the coming months.
They attribute the incoming Polkadot positive sentiment to the overall bull run in the crypto space. Recently, Polkadot’s active addresses reached an all-time high of 600,000, further increasing the value of DOT. Well-known analyst CRYPTOWZRDmade a bullish Polkadot price prediction, suggesting that DOT is preparing for a volcanic eruption.
According to him, Polkadot’s price will rise by 80% in the coming months if it breaks the primary resistance zone of $9.60.
Solana (LEFT)
Designed to facilitate the easy creation of decentralized applications (dApps), Solana (SOL) made headlines in the crypto space in the first part of 2024. Solana’s price reached 10% on April 185, 2024, with a 10% jump in the last three days. The high-momentum rally was driven by bullish tailwinds from the positive nonfarm payrolls report. It pushed up the price of Solana and other risk assets.
Forward-looking data on Solana derivatives markets reports that various traders are betting on further upside. Additionally, market analysts say Solana of the price in the coming weeks Above the $200 level predicts that it will come out. While Solana’s price rose above $200 several times in March 2024, it failed to establish a stable support level above the turning point zone. The upper bound of the Bollinger band shows that Solana still faces stiff resistance in this range.
Chainlink (LINK)
Despite increasing competition, Chainlink (LINK) remains the largest decentralized oracle network playing a vital role in the DeFi industry. The Chainlink network has improved communication between blockchains and the real world, making it a critical component of the DeFi infrastructure. And it may be among the best altcoins to watch in 2024.
Currently, Chainlink’s price is $17.76, a decrease of 2% in the last seven days. CoinMarketCap Its ranking is 16 and its market capitalization is $10.4 billion. Chainlink’s price witnessed a 10% decline last month, which was attributed to the mid-month correction in the crypto space. Despite the current breakouts, many Chainlink price predictions indicate an uptrend in the coming bull run.
In their view, Chainlink’s incoming volatility is attributed to current actual on-chain activity and technological advancement that has attracted some investor interest.
Conclusion
Investing in trending cryptocurrencies with high growth potential requires accuracy, speed and agility. Identifying the right crypto tokens to buy in the market can make a difference for investors looking to maximize their returns.
In general, investors look for anything that can create value for the end user. In this context, the five projects above are making a splash, as they should. It should be noted that this is not an investment advice.
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*This article is not investment advice! This is sponsored (advertising) content. Cryptocurrency investments are high-risk investments and there is a risk of investment loss. Do your detailed research before investing!
