By Best Crypto to Buy Now 25 April – Injective, Chiliz, Render
Santiment, a cryptocurrency analytics platform, is telling Bitcoin (BTC) enthusiasts to exercise caution as several on-chain metrics for the digital asset raise concerns.
In a recent blog post, Santiment pointed out that Bitcoin’s network is not experiencing the same exponential growth it witnessed during the 2021 bull market.
How might this recent news affect the selection of the best cryptos to buy now?
The analysts explain that bull traps occur when prices surge rapidly without a corresponding increase in utility, a phenomenon observed in Q1 of this year. Santiment has examined the activity of unique Bitcoin addresses on the blockchain, noting that Bitcoin’s address growth is not as pronounced as it was during the previous bull market.
“Since the beginning of 2023, active addresses have risen +11% while BTC’s price has jumped +65%,” the firm stated.
The analytics firm also assessed Bitcoin’s circulation metric, which represents the number of coins transacted daily.
The measurement currently presents a less favorable outlook compared to its position at the beginning of the year when BTC was approaching a value of $16,000.
The number of unique tokens transacted daily has also decreased by 6.4% compared to January 1st.
While Santiment acknowledges the possibility of a Bitcoin comeback, it advises BTC enthusiasts to monitor on-chain metrics for signs of improvement.
The firm referenced other key on-chain indicators as well, such as whale activity and MVRV (market-value-to-realized-value), as important factors to consider.
In related news, Standard Chartered has made a bold prediction for Bitcoin’s price, forecasting it will reach $100,000 by the end of 2024.
Analyst Geoff Kendrick attributes this optimism to the collapse of several U.S. banks, which has strengthened Bitcoin’s case as a decentralized and scarce digital asset.
Kendrick, for one, believes the “crypto winter” is over and anticipates a bullish market cycle ahead.
The analyst also highlighted the positive impact of stablecoin outflows and speculation about the Federal Reserve’s monetary policy on Bitcoin’s price trajectory.
Standard Chartered’s prediction marks a significant shift from its December 2022 forecast, which anticipated BTC prices falling to $5,000.
As of this writing, Bitcoin has made a slight recovery trading at $28,322, up by 3% in the past 24 hours.
The total market capitalization stands at $1.18 trillion, with further sideways action anticipated this week.
Amid the hurdles outlined by Santiment, the cryptocurrency landscape continues to offer promising avenues for those seeking to capitalize on the cryptocurrency space’s ongoing long-term growth.
LHINU, INJ, DLANCE, CHZ, ECOTERRA, RNDR, and TARO, are some of the best cryptos to buy now based on fundamentals and/or technical analysis.
The Meme Coin with Utility: A Look at Love Hate Inu’s Impressive Presale Performance
Love Hate Inu, a meme coin known for its distinctive vote-to-earn feature, recently marked a notable milestone by amassing over $6.9 million in its ongoing presale.
Currently, in its seventh stage, $LHINU is available at a price of $0.000135 per token.
What sets this digital currency apart is its dedication to establishing a user-friendly platform that emphasizes collective decision-making through voting.
The platform’s Management Dashboard will serve as a hub for conducting surveys, utilizing the earnings generated by the platform itself.
Operating on the Ethereum blockchain, Love Hate Inu lays a solid groundwork for the development of decentralized applications.
The platform allows individuals to link their digital wallets, engage in ongoing surveys, and propose fresh surveys for the collective to evaluate.
Those who hold tokens and partake in surveys are qualified to receive incentives, and they have the option to utilize their staked LHINU tokens to express their preferences in the voting process.
Complementing its presale, Love Hate Inu has also launched a contest that involves voting, with a reward of $10,000 at stake.
Entrants can join the contest at no cost by casting their vote on their affection or aversion toward Andrew Tate. The fortunate recipient of the prize will be chosen randomly.
In an uncommon gesture for a digital currency of this nature, Love Hate Inu has openly disclosed the identity of its Chief Executive Officer, Carl Dawkins.
Dawkins, a familiar figure in the digital currency domain, previously held the position of Head of Growth at Tamadoge (TAMA).
The effective guidance of Dawkins is acknowledged as a contributing factor to the accomplishments of Love Hate Inu.
The official launch of Love Hate Inu is scheduled for the third quarter of 2023.
By the end of the year, collaborations with well-known brands are expected, and integration into virtual worlds is on the agenda for 2024 and the years to follow.
Upon the conclusion of the presale, the digital currency also intends to conduct an initial coin offering. Notably, there is no obligation for a vesting period for tokens acquired during the presale.
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Injective (INJ)
Injective (INJ) is experiencing significant fluctuations in value recently.
On April 17, it reached a year-to-date high of $9.97, a value not seen since February of the previous year.
However, the past week has seen a downward trend, culminating in a bullish hammer candlestick yesterday, accompanied by strong trading volume.
This could signal a possible shift in market sentiment for INJ.
As of writing, INJ is trading at $8.120, with an impressive 16.15% gain so far today.
The 20-day Exponential Moving Average (EMA) stands at $7.1567, while the 50-day EMA is at $5.8938, and the 100-day EMA is at $4.7152.
Injective (INJ) has been experiencing an upward trend over the short, medium, and long-term EMAs, which indicates a positive price momentum across different timeframes.
The RSI is currently at 61.58, pointing to moderately bullish momentum.
The MACD provides further context: the previous day’s MACD histogram was at -0.188, while the current day’s value is -0.145, suggesting a possible shift in momentum.
As for trading volume, it amounts to 8.153 million today, up from 6.892 million the day before. The volume moving average is 6.403 million, indicating a surge in trading activity.
Immediate resistance can be found at the Fibonacci 0.236 level of $8.474.
Regarding potential support, INJ has previously found some stability at the Fibonacci 0.5 level of $6.807.
With the price currently trading above the Fibonacci 0.382 level at $7.552, this level could serve as immediate support if the price manages to close above it.
Unlocking Opportunities in the Gig Economy: $DLANCE, One of the Best Cryptos to Buy Now
The labor landscape is experiencing a pivotal transition as independent work gains traction among professionals seeking adaptability and self-direction.
Recent research underscores that an impressive majority—exceeding 65%—of the workforce desires to adopt permanent remote work arrangements.
The gig economy’s valuation is anticipated to exceed $450 billion as the year concludes with the freelancing industry projected to reach $12 billion by 2028.
This progression creates an optimal window for enterprises to broaden their freelance talent base and forge collaborations within the freelancing sector.
DeeLance, a web3 platform for independent work and talent acquisition, is leading the charge in this nascent sector.
Utilizing the capabilities of decentralized web3 technologies, DeeLance is redefining the manner in which independent workers interact with prospective clientele.
The platform’s triad of foundational elements—a marketplace for NFTs, a metaverse, and a talent acquisition platform—jointly provide a holistic suite of tools that streamline the independent work process and furnish a frictionless experience for participants.
The outcome is a wholly decentralized platform that bestows participants with unmediated authority over their professional endeavors in a transparent and safeguarded setting.
In addition, DeeLance’s minimal fees and expedited payments in digital currency augment the overall experience for participants.
DeeLance envisions a future in which web3-based independent work unveils boundless opportunities, nurturing a secure and viable gig economy that transcends present-day impediments and guarantees thriving conditions for all.
The platform’s web3-oriented token, $DLANCE, has triumphantly concluded its initial presale phase, amassing over $473,000 and indicating substantial enthusiasm from traders and financial enthusiasts. $DLANCE is currently regarded as one of the best cryptos to buy now.
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Chiliz (CHZ)
Following the decline experienced between April 19 and April 21, Chiliz has discovered a support zone ranging from $0.1184 to $0.1197.
Since then the cryptocurrency has been moving sideways. As of writing, Chiliz is benefiting from the wider cryptocurrency market rebound, registering a 2.92% gain so far today.
Chiliz’s 20-day Exponential Moving Average (EMA) is currently at $0.1272, while the 50-day EMA stands at $0.1269, and the 100-day EMA is at $0.1310.
The proximity of the 20-day and 50-day EMAs suggests a relatively stable short-term trend, whereas the slightly higher 100-day EMA could indicate that the longer-term trend has experienced a mild downturn.
The Relative Strength Index (RSI) for CHZ is currently at 49.93, which is close to the neutral level of 50.
This suggests that the market sentiment is neither strongly bullish nor bearish at this time.
Regarding the Moving Average Convergence Divergence (MACD) indicator, the previous day’s MACD histogram was at -0.0017, while the current day’s value is -0.0013.
This narrowing of the histogram points towards a possible weakening of the bearish momentum.
In terms of trading volume, CoinMarketCap reports a 24-hour volume of $101,563,370, representing a significant increase of 73.84%.
This surge in trading activity could have a meaningful impact on the price action.
Currently, the CHZ price is $0.1268, with a modest increase of 2.92% today.
The immediate resistance lies within the horizontal range of $0.1286 to $0.1297.
On the other hand, immediate potential support can be found in the horizontal area between $0.1184 and $0.1197.
Chiliz’s technical indicators suggest a relatively stable short-term trend, with a slightly bearish longer-term outlook.
Market participants should keep an eye on the RSI, MACD, and trading volume to gauge the strength of the current trend and identify potential opportunities in the market.
From Play-to-Earn to Recycle-to-Earn: Ecoterra’s Innovative Framework for Sustainability
ecoterra advocates for the repurposing of discarded materials and advances the notion of a more eco-friendly tomorrow by capitalizing on blockchain technology and the rising fame of the pioneering play-to-earn (P2E) approach.
Drawing from the ingenuity of the P2E strategy, ecoterra has devised a recycle-to-earn (R2E) approach that grants participants the opportunity to obtain digital currency incentives for their recycling endeavors.
The initiative’s inherent token, $ECOTERRA, is experiencing brisk sales during its presale, accumulating over $2.4 million in a matter of weeks.
Priced at $0.00625, the digital currency ranks among the most economically accessible assets to utilize and achieve substantial nominal gains upon its introduction to public trading platforms.
To accumulate more $ECOTERRA, individuals must engage in sanitation activities.
This involvement empowers them to collect necessary discarded items such as glass containers, metal receptacles, synthetic materials, and a variety of others, and document them using the platform’s sophisticated application.
Subsequently, participants will be directed to a recycling vending apparatus (RVM) where they can deposit the collected materials and, in return, receive $ECOTERRA tokens as compensation.
Destined to bring about a transformation in the subpar practices of waste administration through its R2E approach, $ECOTERRA is one of the best cryptos to buy now.
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Render Token (RNDR)
Render Token (RNDR) has displayed a notable price trajectory since it retested the 20-day EMA dynamic support on April 21.
Over the past three days, the cryptocurrency has successfully bounced off the 20-day EMA indicator, maintaining positive momentum.
Following a 3.93% increase yesterday, Render’s bullish trend continues with a substantial 13.93% gain so far today, as it aims to surpass the $2 psychological mark.
The 20-day Exponential Moving Average (EMA) stands at $1.701, the 50-day EMA at $1.525, and the 100-day EMA at $1.343.
The consistent rise in these values across different timeframes suggests a bullish trend for RNDR.
The RSI is currently at 63.79, indicating moderately bullish momentum.
The MACD reveals a shift in momentum, with the previous day’s MACD histogram at -0.004 and the current day’s value at 0.008.
Trading volume has increased to 23.344 million from the previous day’s 18.407 million, with a volume moving average of 18.514 million.
This uptick in trading activity supports the cryptocurrency’s recent price action.
Render Token’s current price is $2.019, reflecting a 13.93% increase.
Immediate resistance can be found at the year-to-date high of $2.196.
As for potential support, the Fibonacci 0.618 level at $1.697 converges with the 20-day EMA, forming a critical support zone.
If the price manages to close above the Fibonacci 0.786 level at $1.914, this could serve as the immediate support level.
Render Token’s recent price action and technical indicators suggest a sustained bullish trend. Traders are advised to closely monitor these key levels and indicators to identify potential opportunities and anticipate future price movements.
Join the Metaverse: Robotera Is One of the Best Cryptos to Buy Now
RobotEra invites users to craft captivating metaverse experiences and partake in the expanding crypto-gaming industry.
Merging non-fungible tokens (NFTs) with advanced virtual and augmented reality, RobotEra empowers players to construct environments, interact, and reap rewards.
The $TARO token governs the in-world economy, raising over $1.15 million in its presale, signaling significant interest from the crypto-gaming community.
The narrative unfolds on Taro, a planet ravaged by conflict between inhabitants and the initial robots they created.
Participants, as avatars or digital personas, are tasked with rebuilding Taro, starting in Central City, the birthplace of new robots and the gateway to Taro’s realm, open to all newcomers.
Other locations include seven continents, both public and player-owned, each with unique attributes and opportunities.
The RobotEra metaverse presents boundless opportunities for creativity and exploration.
Players can govern territories, create robot allies, and partake in world-building. They can own land, construct realms, and reap advantages from the secondary economy in this Sandbox-inspired building game.
The goal is to provide users with a multidimensional platform blending entertainment, interaction, and creativity, all within a decentralized framework.
RobotEra’s developers envision a vibrant game and alternate universe, utilizing digital currencies and assets.
Open to all individuals, regardless of background, RobotEra offers income potential through gameplay, NFT sales, staking tokens, running advertisements, and more.
Decentralized governance via the Decentralized Autonomous Organization (DAO) fosters community and ownership, allowing players to propose and decide on the planet’s future.
$TARO, the Ethereum-based utility coin, fuels RobotEra’s ecosystem. Trading at $0.020 USDT, $TARO’s presale has raised over $1.15 million so far.
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