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Home»Bitcoin»Best Crypto to Invest in Right Now November 9 – Chiliz, The Graph, Avalanche
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Best Crypto to Invest in Right Now November 9 – Chiliz, The Graph, Avalanche

November 10, 2024No Comments7 Mins Read
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This week, the cryptocurrency market is experiencing a strong uptrend, partly fueled by the recent US presidential election. This development has caught the attention of Polymarket punters, who have benefited from recent market developments. Bitcoin hit a major milestone on Friday, surpassing $77,000. The increase follows the US Federal Reserve’s decision to lower interest rates by 25 basis points, setting a new target range of 4.50% to 4.75%.

During the announcement, Fed Chairman Jerome Powell stressed that the rate adjustment was not related to the recent election results. The Fed’s decision appears to have injected new optimism into the crypto market. Beyond Bitcoin, several leading cryptocurrencies have seen gains in response to falling interest rates, contributing to the broader recovery. This article analyzes the best crypto to invest in right now in the midst of this bullish momentum.

Best Crypto to Invest in Right Now

The Graph token currently stands at $0.1671, reflecting a 7.81% increase over the past 24 hours. Meanwhile, Flockerz’s pre-sale campaign has raised over $1.3 million so far. The MANTA token, at present, is trading around $0.7541, showing a recent intraday gain of 5.87%. Market sentiment is leaning toward optimism, as indicated by a score of 69 on the Fear & Greed Index.

1. Chiliz (CHZ)

Chiliz is a cryptocurrency designed for the sports and entertainment industry. It powers Socios, a platform that allows fans to engage more directly with their favorite sports teams by participating in certain team decisions. Through this system, fans go from passive spectators to active participants, gaining limited voting rights on specific topics by holding fan tokens purchased with CHZ.

Additionally, Chiliz has partnered with notable sports organizations, including soccer clubs like FC Barcelona, ​​Manchester City, Juventus, and Paris Saint-Germain. It has also expanded into other areas, forming partnerships with the UFC and various esports organizations. By holding CHZ, fans can access fan tokens that more closely connect them to these teams.

CHZ Price Chart

Additionally, CHZ is trading at $0.06289, reflecting a 2.05% increase over the past 24 hours. Its 24-hour volume to market cap ratio is 0.1428, suggesting decent liquidity for its market size. Over the past month, CHZ has recorded 16 positive trading days. This could indicate some stability, but not strong bullish momentum.

The 14-day relative strength index (RSI) for CHZ is 44.01. An RSI near 50 generally indicates a balanced market without strong buying or selling pressure. At this level, CHZ could see limited price movement and potentially continue trading in a stable range.

2. Manta Network (MANTA)

Manta Network offers a modular framework for Web3, focused on privacy and scalability for decentralized applications (dApps). It supports Solidity-based applications, allowing developers to build on a familiar language while leveraging Manta’s infrastructure for potentially faster transactions and lower gas fees than traditional layer networks 1 and layer 2.

MANTA price table

This approach addresses some common blockchain issues around speed and cost, which can impact usability as networks grow. At the time of writing, the MANTA token is trading at around $0.7541, showing a recent intraday rise of 5.87%. Market sentiment is relatively optimistic, with the Fear and Greed Index sitting at 69 (Greed).

🚀Incredible growth in the third quarter for @MantaNetworkthe largest modular L2

✓ Transactions up 551.8%
✓ Active addresses up 440.5%!
✓ #MantaCeDeFi holds strong with nearly $100 million in stable TVL
✓ CeDeFi tokens are adopted in multiple ecosystems
…and more

Dive in 👇

– Manta Network (🔱,🔱) Meme-ta Szn (@MantaNetwork) November 6, 2024

Additionally, the token has seen 15 positive trading days in the last 30 days, suggesting notable interest or demand. The token’s 24-hour volume to market cap ratio is 0.2083, indicating fairly high liquidity.

Coincodex price predictions estimate a potential increase of 230.25%, suggesting that MANTA could reach $2.47. These forecasts reflect current market optimism, but should be approached with caution due to typical market volatility.

3. Avalanches (AVAX)

Avalanche (AVAX) is currently priced at $29.50, an increase of 6.97% in the last 24 hours. The token records a trading volume of $475 million, up 6.89% over the past day. Additionally, AVAX has gained 19.77% in the past week and 12.91% over the past 30 days, suggesting sustained buying interest.

Meanwhile, market sentiment around the AVAX token is currently positive, as indicated by a score of 69 in the Fear & Greed Index, which indicates greed. Technical analysis shows AVAX trading 86.81% above its 200-day simple moving average (SMA) of $15.75, a signal often considered a sign of bullish momentum in analysis technical.

AVAX Price Chart

Additionally, AVAX has experienced 16 “green days” over the past month, reflecting a period with more buying pressure than selling. Its 24-hour volume to market capitalization ratio is 0.0750, which shows stable liquidity.

AVAX Tweet

On the adoption front, Avalanche reached an important milestone with the selection of AvaCloud for JP Morgan’s EPIC project as part of the Kinexys initiative. This reflects the interest of established institutions, which can support the usefulness and adoption potential of the project in the long term.

4. The chart (GRT)

The Graph token is priced at $0.1671, showing an increase of 7.81% in the last 24 hours. Over the past week, GRT has increased by 15.51%, and over the past month, by 6.78%. Compared to its price a year ago, the token has gained around 27%, showing gradual growth.

GRT price table

Currently, GRT is trading 42.82% above its 200-day simple moving average (SMA) of $0.1175, a technical level that suggests the token is in an uptrend. The 14-day relative strength index (RSI) sits at 42.34, a neutral zone that indicates neither strong buying nor selling pressure. This RSI value implies that GRT could experience relatively stable trading in the short term.

The graph ensures transparent data flow without interference from centralized entities.

With The Graph, you can build with confidence, knowing that no entity can corrupt you or cut you off from access to the data you rely on in production.

With The Graph, your data pipelines are unstoppable 🦾

– The graph (@graphprotocol) November 2, 2024

Market sentiment for GRT appears bullish. The Fear & Greed Index, a broad measure of investor confidence, shows “Greed” at 69. Based on recent COincodex forecasts, the price of GRT could see a substantial rise over the next month, potentially increasing by 230.72% to reach around $0.5535 by December.

5. Flockerz (TROOP)

Flockerz has raised over $1.3 million during its ongoing pre-sale campaign. Early supporters can purchase tokens at $0.005981 per unit, although this price will increase within three days as the campaign progresses to its next phase. This tiered pricing model encourages early investments by offering tokens at a discounted price that gradually decreases with each presale stage.

A unique feature of Flockerz is its “vote to win” (V2E) mechanism. This system rewards community members for participating in project-related decisions, essentially giving token holders a direct role in shaping the direction of the project. Unlike standard meme coins, which often lack incentives for user engagement, Flockerz aims to promote active community participation through this V2E model.

The flocking statue is still tall! 🗽🐦 pic.twitter.com/DDgXCzGW9N

– Flockerz (@FlockerzToken) November 8, 2024

As the meme coin sector sees renewed interest, with market projections suggesting continued growth through 2024 and 2025, this model could set Flockerz apart. Market analysts have a cautiously optimistic outlook for Flockerz, suggesting it could perform well upon listing on the stock exchange.

Projections indicate that the token’s value could reach around $0.02185 by next year. Although this growth estimate reflects positive sentiment, actual performance will depend on FlockerzThe ability to maintain user engagement and differentiate yourself in a competitive market.

Visit the Flockerz presale

Learn more

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