Best Crypto to Invest in Right Now October 12 – Tezos, Ethena, Stacks

Meme coins saw a sharp rise in value over the past 24 hours, with some of the biggest gains seen in coins like Shiba Inu (SHIB), Popcat (POPCAT), Dogwifhat (WIF), and First Neiro on Ethereum ( NEIRO). Although altcoins also saw growth during this period, meme coins took the lead in terms of overall performance.

Altcoins continue to gain traction, attracting the attention of developers and investors. Each blockchain offers specific features that appeal to different use cases within the crypto ecosystem. In this analysis, we will examine the best crypto to invest in right now.

Best Crypto to Invest in Right Now

Theta Labs collaborated with the Vegas Golden Knights to launch an AI chatbot powered by Theta’s EdgeCloud platform. Meanwhile, Ethena’s native token, ENA, has seen significant growth in recent times. Likewise, Stacks has demonstrated robust performance and stability in the market.

1. Theta Network (THETA)

Theta Labs has partnered with the Vegas Golden Knights to introduce an AI chatbot powered by Theta’s EdgeCloud platform. This chatbot will launch on the team website during the 2024-25 NHL season. It will help fans by providing information on event schedules, match details, merchandise and hockey rules.

According to Theta co-founder and CEO Mitch Liu, the robot is built using generative AI with “agentic AI” capabilities, making it more capable of giving hockey-specific responses. He will also have a personality that fits the Golden Knights brand.

Previously, Theta Labs worked with the Golden Knights on an exclusive NFT series and collaborated with other entertainment entities, such as Resorts World and Katy Perry. This chatbot is their first AI engagement project, and there are plans to potentially introduce it to other sports teams in the future.

NHL Vegas @GoldenKnights and Theta have collaborated on a new AI chatbot powered by Theta EdgeCloud, rolling out to the VGK website during the 2024-25 season! The bot will answer fan questions about events, game scheduling, and more. Read more in @SBJthe cover!

– Theta Network (@Theta_Network) October 9, 2024

Meanwhile, THETA saw an increase of 7.38% over the past 24 hours and 0.50% over the past week, now trading at $1.32. The token features strong liquidity, supported by its market capitalization. The 14-day relative strength index (RSI) stands at 58.16, indicating neutral market conditions. If the momentum continues and the price breaks above its moving averages, THETA could potentially reach $1.36 by November, according to Coincodex.

2. Tezos (XTZ)

Tezos is a blockchain platform that supports digital assets and decentralized applications. It emphasizes security, on-chain governance and decentralization. The platform focuses on code security through formal verification and its unique on-chain governance system. This system allows token holders to propose and vote on changes, allowing the network to update without the need for hard forks.

Additionally, Tezos uses a Liquid Proof-of-Stake (LPoS) consensus mechanism, which allows token holders to delegate staking rights while retaining ownership of their tokens. This flexibility is one of the essential characteristics of the network.

Tezos 2.0 is an upcoming upgrade aimed at improving scalability through layer 2 solutions. It will also add support for programming languages ​​such as Javascript, Typescript, and Python, allowing developers to create more easily on the platform.

Did you know #Tezos fuels the future of gaming? 🎮

THE #Tezos The ecosystem is the natural place for game developers to create exciting, scalable, and successful games. #web3 games.

Here’s how to do it 🧵👇

1/7 pic.twitter.com/qMWyPJ62uq

– Tezos (@tezos) October 9, 2024

Currently, Tezos is trading at $0.6993, up 5.60% for the day. The price trend remains upward with no clear signs of reversal. Over the past 24 hours, the price ranged from a low of $0.6619 to a high of $0.6998. Over the past month, Tezos has seen 16 green days, suggesting stable market activity. The 14-day RSI is 49.18, which indicates that the token is neutral and could trade sideways in the near term.

Analysts expect Tezos to potentially reach $1.27 by 2025, depending on market conditions. While the outlook is cautiously optimistic, much will depend on the adoption of new upgrades like Tezos 2.0 and the broader market environment.

3. Ethena (ENA)

Ethena (ENA) operates on the Ethereum blockchain, offering a unique approach to cryptocurrency investing and global savings through its synthetic dollar protocol. This system aims to create a digital asset pegged to the US dollar, providing stability in a volatile crypto market. Ethena also encourages user participation through AirDrop reward programs, one of which recently saw 750 million ENA tokens distributed to shard holders.

The price of Ethena’s native token, ENA, has seen notable growth recently. At press time, ENA saw a price increase of over 17%, pushing its value above $0.33. The token recorded further growth, gaining 10.17% last week and 60.40% last month.

This price increase coincides with Ethena’s decision to allocate $46 million from its reserve fund to tokenized RWA. This is a significant step towards integrating traditional financial systems with blockchain technology. Additionally, Ethena’s investment in RWA aligns with a broader trend within decentralized finance (DeFi), where platforms seek to bridge the gap between conventional finance and decentralized systems.

We are pleased to announce the winners of the Reserve Fund RWA allocation

After 25 submissions, the Risk Committee selected 4 assets which stood out on numerous criteria:

• BUIDL (Blackrock/Securitization)
• USDS (Sky)
• USTB (superstate)
• USDM (Mountain) pic.twitter.com/NHyqrICvZZ

– Ethena Laboratories (@ethena_labs) October 10, 2024

By incorporating real-world assets into its ecosystem, Ethena positions itself for continued growth, potentially strengthening the value of the ENA token. This development highlights a growing interest in combining traditional financial instruments with blockchain, with the aim of creating a more inclusive and stable financial ecosystem.

4. Flockerz (TROOP)

Flockerz introduces a unique Vote-to-Earn (V2E) model designed to reward token holders for participating in governance votes. This model stands out in the decentralized financial space because it encourages the active participation of its community, differentiating itself from other projects in the sector.

The herd is unstoppable! We just hit $600,000 and we’re still climbing!

A big thank you to everyone who flies with us 💸💙 pic.twitter.com/OTf439IRKI

– Flockerz (@FlockerzToken) October 11, 2024

Built on the Ethereum blockchain, Flockerz aligns with the growing trend of meme coins but brings a distinct narrative. Its mission focuses on empowering its community by giving its members a voice in key decisions and promoting decentralization at the heart of its operations. The project emphasizes that token holders are the sole decision-makers, which aligns with the broader philosophy of decentralization in the crypto world.

Through the Vote-to-Earn system, FLOCK token holders can participate in decision-making processes that influence the direction of the project. This could include feedback on expansion plans, marketing strategies, token burns, and future feature development. By participating in these governance activities, community members are rewarded with additional FLOCK tokens.

This constitutes a direct incentive for commitment. This aligns participants’ interests with the growth and success of the project.

At the time of writing, Flockerz raised over $646,000, demonstrating early interest and engagement. The project approach fosters a collaborative environment, encouraging participants to take responsibility for project development.

Visit the Flockerz presale

5. Batteries (STX)

Stacks is a Bitcoin layer that brings smart contracts and decentralized applications to the Bitcoin network. It allows these applications to use Bitcoin as an asset and settle transactions directly on the Bitcoin blockchain. This adds functionality to Bitcoin, which traditionally lacks programmability.

Current sentiment for Stacks is bullish, while the Fear & Greed Index has a neutral score of 49. Over the past year, its price has increased by 263%, outperforming 77% of the top 100 cryptocurrencies. Meanwhile, Stacks is trading above its 200-day simple moving average, indicating a long-term positive trend.

Stacks is the Bitcoin L2 leader in developer activity 🟧

This is partly thanks to @LearnWeb3IO Stacks Developer Diploma, with thousands of developers enrolled in their course.

I’m excited that LearnWeb3 will be part of the upcoming free virtual developer-focused BTC Bash event. pic.twitter.com/tLyz3YWFEn

– stacks.btc (@Stacks) October 7, 2024

The 14-day relative strength index (RSI) is at 37.18, placing it in a neutral zone, suggesting the possibility of sideways trading. Over the last 30 days, Stacks has experienced 17 green days, showing positive momentum 57% of the time.

Stacks has high liquidity relative to its market capitalization, making it easy to trade without significant price fluctuations. It is available on exchanges like KuCoin, where it can be exchanged for the US dollar. Although Stacks has shown strong performance and stability, market conditions can change and its technical indicators should be closely monitored for possible changes in price action.

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