Trent Rhode
The cryptocurrency market underwent a substantial drop on Thursday, as a net outflow of $35.215 billion led to a 3.32% decrease in the market cap from $1.062 trillion to $1.026 trillion. This is unwelcome news for investors who have seen the cryptocurrency market rally in recent weeks, with Bitcoin and Ethereum reaching new heights since August. With this in mind, in the current climate, what are the best altcoins to buy today?
Bitcoin’s market cap decreased by 2.90% to $459.49 billion on Thursday, while Ethereum’s market cap fell by 0.78% to $203.99 billion.
Bitcoin’s price decline has slowed now, however, and it’s trading at $24,338 at the time of writing. Although Bitcoin’s price peaked above $25,000 for the first time since August 2022, it was unable to hold onto the gains and later retreated to its current levels as investors began to take profits.
Ethereum’s price has also stabilized for the time being and is trading at $1,683 with a loss of 1.4% for the day as of writing. Ethereum’s price performed similarly to Bitcoin’s, reaching a peak of $1,732 before dropping back to its current levels, with a low of $1,631 yesterday.
10/ Do Kwon, founder of collapsed Terra stablecoin, charged with fraud by U.S. securities regulatorhttps://t.co/uC972yV6jw
— CoinSmart (@CoinSmart) February 17, 2023
In other news, blockchain platform Terraform Labs and its founder Do Kwon are facing charges of defrauding investors in a multibillion-dollar scheme, according to the US Securities and Exchange Commission (SEC).
The regulator accused Kwon of raising billions of dollars from investors by selling a series of unregistered securities, many of which were connected to digital assets. The SEC also claimed that Terraform Labs and Kwon misled investors about the stability of TerraUSD and falsely promised that the company’s cryptocurrency tokens was sure to increase in value.
Globally, investors in TerraUSD and paired token Luna lost an estimated $42bn when TerraUSD lost almost all its value after slipping below its 1:1 dollar peg in May 2022. Several major crypto companies, including US crypto lender Celsius Network and Singapore-based crypto fund manager Three Arrows Capital, failed as a result of TerraUSD’s collapse.
Kwon’s whereabouts remain unknown, while Terraform Labs has yet to respond to the allegations. SEC Chair Gary Gensler highlighted that the case demonstrates how far some crypto firms will go to avoid complying with securities laws.
Many investors are taking the opportunity to reevaluate their portfolios and explore new investment opportunities as Bitcoin consolidates. If you’re looking for the best altcoin to buy today, read on for technical and/or fundamental analysis on MEMAG, FIL, FGHT, ICP, CCHG, MAGIC, and METRO.
Meta Masters Guild’s Platform Progressing Web3 Gaming
MMG, or the Meta Masters Guild, is an upcoming “Web3 gaming guild” and mobile game ecosystem looking to tackle some of the challenges present in the world of Web3 gaming. As the gaming industry continues to embrace decentralization and player empowerment, MMG is poised to become a major force in the growing sector.
The MEMAG token, MMG’s unique offering, has piqued the interest of crypto investors, with the presale stages selling out every time, including the final stage, which is now complete.
The excitement surrounding MMG has only grown with its partnership with the renowned game studio Gamearound, along with the highly anticipated launch of Meta Kart Racers in Q3 2023.
By incorporating Non-Fungible Tokens (NFTs) into their games, MMG has given players the ability to own various parts of the game they’re playing, while the development of a native NFT marketplace has created opportunities for in-game asset trading. MEMAG, the primary currency of the MMG ecosystem, allows for governance and staking features, making it the preferred transaction method for MMG players.
According to industry experts, the Web3 gaming market is expected to reach $104.5 billion by 2028, and MMG is eager to capitalize on this growth opportunity. The company’s emphasis on delivering high-quality games that offer an immersive experience rather than pay-to-progress models is a testament to their commitment to the gaming community.
Hey #MEMAGFAM
Special announcement!
The $MEMAG presale has ended
Thank you for all the support, we raised over $4.950M
Claim your tokens from March 1st
Have a good day #MEMAGFAM & don’t forget to celebrate! https://t.co/wf5S1wLNik#Play2Earn #Crypto #P2E pic.twitter.com/XcaTntQCo9
— Meta Masters Guild (@MEMAGgames) February 17, 2023
Thanks to its carefully plotted plan and a vast selection of game offerings, MMG is on track to becoming an in-demand gaming ecosystem within the ever-growing GameFi market. Investors have backed this mission by contributing $4.950 million during its pre-sale phase–which has now concluded.
Investors can now explore MMG’s NFT store where they will find unique MEMAG NFTs as they await an exchange listing announcement.
Filecoin (FIL)
As an alternative to traditional storage solutions, Filecoin has developed a decentralized and secure storage network. Filecoin utilizes FIL, its native cryptocurrency, to facilitate the storage, retrieval, and sharing of digital information.
FIL has experienced an impressive surge today, trading at $7.782 and up 44% on the day. This boost comes after a 25-day period of sideways movement. The cryptocurrency has surpassed two critical resistance levels of $5.683 to $5.893 and $6.560 to $6.981 with this recent development.
FIL’s next major hurdle is the psychological price point of $9, which coincides with another significant resistance range of $8.410 to $8.901.
Fight Out Revitalizing Fitness Scene with Cutting-Edge Tech
Fight Out is shaking up the conventional fitness world with its innovative Web3 and move-to-earn (M2E) technology, addressing persistent challenges such as high gym member dropout rates.
According to the IHRSA, 50% of new gym members leave after just six months, largely due to a lack of motivation, connection, and personalization.
An IHRSA report states that “the permanent closure of 17% of clubs in the U.S.—and as high as 40-50% in some countries—has left a large segment of displaced members seeking new alternatives” amid the COVID-19 pandemic.
Unleash your inner fighter with Fight Out! Earn rewards and stay motivated every step of the way.
Join us now and join the #FightOut revolution! https://t.co/z34Nkx3ffi pic.twitter.com/lN8r9q6Oxv
— Fight Out (@FightOut_) February 17, 2023
Fight Out offers a comprehensive solution for those searching for alternatives, including a personal NFT avatar that depicts their fitness stats, gamifies their fitness journey, and inspires continued engagement, along with REPS token rewards and customized workout plans.
With REPS tokens, users are incentivized to exercise at the gym or home and can redeem the tokens for discounts on gym memberships, merchandise, subscriptions, and other goodies.
Fight Out is slated to open its first gym in the fourth quarter of 2023, featuring cutting-edge equipment and exclusive features such as Web3-powered technology like digital mirrors displaying users’ fitness profiles for feedback on their progress, as well as sensors tracking their workouts and offering feedback and insights.
FGHT tokens have already raised nearly $4.28mn in the presale period, which will soon enter the next phase with higher prices, making FGHT one of the best altcoins to buy today.
Internet Computer (ICP)
The ICP token of Internet Computer has been listed on the Poloniex cryptocurrency exchange, contributing to a price surge of more than 30% in today’s trading session. Poloniex, one of the oldest cryptocurrency exchanges, announced that the ICP token was listed on February 16, and ICP wallets were opened for deposits at 05:00 UTC, while full trading was enabled at 07:00 UTC. The wallets enable traders to deposit ICP tokens in the exchange for trading.
Listing: @dfinity
The Internet Computer blockchain incorporates a radical rethink of blockchain design, powered by innovations in cryptography. $ICP wallets will open on Feb 16, at 05:00 UTC, full trading will be enabled on Feb 16, at 07:00 UTC.
➡️ https://t.co/PRe6Nbj1Ql pic.twitter.com/d3Bo9mrEKn
— Poloniex Exchange (@Poloniex) February 16, 2023
In addition to the Poloniex listing, there is news that Internet Computer has integrated with AirGap, a software crypto wallet.
Internet Computer operates as a layer2 for Bitcoin, adding smart contract functionality to the network.
After convincingly breaking through two significant resistance levels at $6.639 to $6.279 and $7.180 to $7.454, the horizontal area of $7.180 to $7.454 will likely act as support for ICP. The next potential target is the range of $8.376 to $8.669.
C+Charge Solves Issues in Growing EV Sector, Making it One of Best Altcoins to Buy Today
C+Charge, a blockchain-based platform, is set to change the charging and payment process for electric vehicle (EV) owners. The growing demand for EVs worldwide has led to a shift towards eco-friendly energy solutions, but the current charging infrastructure is unable to keep up with the increase in EV ownership, leading to challenges for EV drivers when seeking reliable charging.
C+Charge offers a mobile app for EV owners seeking more information about charging stations and their vehicles. The app provides real-time data on nearby charging options and can diagnose the vehicle for potential charging problems.
Hong Kong is legalising the crypto purchase, sale, and trading with the ambition of becoming the Asian crypto hub
We can expect an influx of big money & Asian currency-based #stablecoins
Be early and buy $CCHG⬇️https://t.co/ixe18bPqzI#Cryptocurrenciesmarket #Presale #ReFi
— C+Charge (@C_Charge_Token) February 17, 2023
To address these challenges, C+Charge is creating charging stations and collaborating with existing ones, while allowing users to pay with the CCHG token. The blockchain technology powering CCHG guarantees fast and transparent payment processing.
In addition to simplified and transparent payments, EV owners who use C+Charge will receive carbon credit cryptos via Goodness Native Tokens (GNT), which represent carbon credits that will be tradable through the C+Charge app.
The first stage of the C+Charge presale is now over, and the project has raised over $1.2 so far. The token’s price will increase by another 10.3% in the next presale stage, stage 3, making it a good time to buy CCHG, one of the best altcoins to buy today.
Treasure DAO (MAGIC)
MAGIC, the native token of the Treasure metaverse’s decentralized non-fungible token ecosystem, has seen a YTD gain of 311.54%.
The Magic token has been showing bullish signs in recent weeks, with the current price at $2.0071 and a 9% price decrease for the day as it sees a pullback after a big move. The technical indicators support a bullish trend ultimately, with the 20-day EMA at 1.65 and the 50-day EMA at 1.26, indicating a steady upward price movement.
The RSI is currently at 63.91, indicating that the market is in an uptrend. However, investors should be cautious as it is close to the reversal zone of RSI 70, and continued corrections are likely to occur. The MACD indicator is showing a positive trend, with the previous day’s MACD histogram at -0.0198 and the current day’s at -0.0060. This indicates that the bullish momentum is continuing, and the market may experience further gains after a correction.
In terms of volume, Magic’s current volume is at 47.235M, with a previous day volume of 45.734M and a volume moving average of 34.87M. This indicates that the trading activity is increasing, and more investors are showing interest in the token.
Looking at the resistance levels, the immediate resistance is at $2.1245 to $2.2054. If the price can break through this resistance, the market may continue to rise. However, if the price fails to break through, the price may drop to the immediate potential support level of $1.3900 to $1.4458.
Metropoly’s NFT Marketplace a New Paradigm for Real Estate Investment
Metropoly is set to be the world’s first NFT marketplace for real estate backed by real-world properties. With unique features such as fractional ownership, instant liquidity, and real-time analytics, Metropoly is set to be a game-changer in the real estate market.
With no need for credit scores, down payments, mortgages, or paperwork, investors can get started with as low as $100 and earn passive income through automatic rental payments.
Liquidity is one of the significant problems with traditional real estate investment, but Metropoly addresses this by providing instant liquidity, allowing investors to sell their property NFTs for 70% of the price or the highest bid in an auction. The platform will also offer real-time analytics and data to help investors make informed decisions about their investments.
Metropoly’s primary utility token, METRO, is audited by CertiK and Solidproof and has a limited supply of one billion tokens with no taxes. The platform aims to expand its offerings to other asset classes in the future, such as gold, stocks, and art.
The platform’s strategic partnerships with over 20 crypto influencers and ChainAdoption, along with its successful audits, make it poised for success in the real estate sector.
Metropoly’s Burj Khalifa apartment giveaway worth $1,000,000 is currently up for grabs to one lucky winner, along with an opportunity to earn up to $100,000 yearly rental income for life.
Metropoly’s revolutionary NFT marketplace is the perfect opportunity for anyone seeking an easier way to invest in real estate, diversify their investment portfolio, generate passive income, and protect their capital from inflation.
To date, the project has already raised over $506K in its presale and the price of METRO tokens will steadily rise as the nine stages of sale are completed, making METRO one of the best altcoins to buy today
Related:
Bitcoin Price Prediction – Why $25k Was Too Much Too Soon But Shows The Bullish Way Ahead
Polygon Price Prediction – This is Why MATIC Keeps Rising, Could it Reach $10 in February 2023?
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This article was written for Business 2 Community by Trent Rhode.
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