Trent Rhode
The cryptocurrency market saw a resurgence yesterday, with Bitcoin (BTC) jumping 2.14% and trading above $23,000. Meanwhile, Ethereum (ETH) rose by a not-insignificant 3.55%, bringing the cryptocurrency above the horizontal resistance area of $1,644 to $1,664 and inching it closer to the psychological resistance of $1,700. The surge in the cryptocurrency market is largely due to the comments made by Federal Reserve Chairman, Jerome Powell. In this current climate, what are the best altcoins to buy today?
5 Key Takeaways from Fed Powell
1. Disinflation has JUST begun
2. Anticipates further rate increases
3. If jobs or CPI data is strong, will raise rates more than what's priced in
4. Will hold rates at high levels for some time
5. Sees major drop in inflation in 2023 pic.twitter.com/v7r8qYKIHl
— Kathy Lien (@kathylienfx) February 7, 2023
Powell assured the market that the Federal Reserve is still working to control inflation, despite concerns raised after the recent US employment report. He emphasized that the disinflationary process is in its early stages and that it may take some time for it to be fully under control. The central banker also noted that if the labor market continues to improve or if inflation rates continue to rise, the Fed may have to raise interest rates further.
As the crypto market experiences a slight resurgence in the middle of the trading week, investors may want to take a closer look at their portfolios and explore potential opportunities for growth. This can mean considering tokens that are in their early stages, such as those in presales, where attractive investment prospects may be available.
Investors should focus on tokens that exhibit a promising fundamental and technical outlook, like MEMAG, GRT, FGHT, SAND, CCHG, CHZ, and TARO. These tokens may be worth exploring for those seeking the best altcoins to buy today.
Meta Masters Guild Unites Mobile Gaming World
Meta Masters Guild (MMG) aims to join gamers from different platforms and types of games in a unique virtual environment. Their innovative platform blends blockchain and Web3 technology to enable community events like tournaments, leaderboard competitions, and rewards. The platform will also feature interactive metaverse that will be like a community hub for players to gather, have fun, and trade.
Another crazy milestone for the MEMAG community today!#MEMAGFAM has raised over $3.5 million
If you haven't already, now is a prime opportunity to join the metaverse and become a member of the MEMAG family⚔️https://t.co/SBqVjX5mWn#BlockchainGaming #Presale #P2E pic.twitter.com/Ob1mISpur0
— Meta Masters Guild (@MEMAGgames) February 8, 2023
With the latest mobile gaming technology and Web3 tools, players can earn Gems that can be converted to NFTs or MEMAG crypto that can then be exchanged into fiat.
The guild’s first game, “Meta Kart Racers,” is a mobile racing game that can be played alone or with other players. More Web3 games are expected to be added to the platform as well.
MMG has received positive feedback during its MEMAG token presale, raising $3.6 million in just a few weeks.
The Graph (GRT)
With an impressive growth of 109.36% for the month of February, the GRT token has become a topic of discussion among investors and traders. However, despite this incredible growth, the price of GRT has experienced a major correction of 1.6% today as of writing.
GRT’s pricing correction could be attributable to a token unlock from The Graph. According to Lookonchain, the service provider of on-chain analytics, The Graph unlocked 36.8 million GRT tokens and sent 18 million of them to Coinbase. Despite this temporary setback, the GRT price has still skyrocketed by nearly 234.23% since the beginning of the year, which is a promising sign for its future growth potential.
From a technical perspective, the GRT price still has room for growth, with the potential for a trend continuation toward the psychological resistance of $0.30. To confirm its uptrend, the GRT price must first stabilize above the 50-week EMA at $0.21. As of writing, GRT’s price is $0.1797.
Plotting a Fibonacci retracement level in its recent swing reveals the potential resistance levels for GRT. With the cryptocurrency immediately retracing after yesterday’s 61.63% move, the price has broken down from the Fib 0.236 level at $0.1972. This area could act as the immediate resistance for GRT in confluence with the psychological resistance of $0.20.
The next level where the price could bounce is the Fib 0.382 level at $0.1755.
Investors Fight to Get Their Hands on Fight Out’s FGHT
New technology promises to transform the fitness industry and the Fight Out platform is leading the way. With a unique Web3 app and gym chain, Fight Out offers personalized workout plans and a supportive community that incentivizes results. The M2E app rewards users with REPS tokens for reaching fitness goals, providing both financial motivation and a competitive edge.
It's official #FightOutCrew!
We have raised over $4M in our stage 2 presale!
Another huge milstone reached, thanks to everyone who made this happen!
The price of $FGHT will keep increasing every 12 hours!
Join the presale now! ⬇️https://t.co/ZJslyfHI4t pic.twitter.com/co70hPP0V9
— Fight Out (@FightOut_) February 8, 2023
With state-of-the-art gyms set to launch later this year featuring “mirrors” displaying user profiles and real-time workout tracking, Fight Out offers a complete fitness experience. The project has also enlisted top athletes such as Amanda Ribas of UFC and former WBO champion Savannah Marshall as ambassadors to further elevate its profile.
Join Fight Out in its early stages and receive a 50% bonus on investment over $50K. FGHT tokens have already generated over $4 million in the presale, making it one of the best altcoins to buy today.
SAND
The Sandbox, a blockchain-based virtual world project, has signed a memorandum of understanding (MOU) with Saudi Arabia’s Digital Government Authority (DGA). The partnership, which was signed at the Leap Tech Conference in Riyadh, is expected to bring about a collaboration on “metaverse” or VR goals.
The announcement of the agreement sent The Sandbox’s SAND token soaring by 30% within hours, hitting an intra-day high of $0.93 from $0.71. Animoca Brands’ subsidiary, The Sandbox has already seen multiple notable deals with banks like HSBC and Adidas as well as pop-culture icons such as Atari, Snoop Dogg, and Warner Music Group.
SAND is currently trading at $0.8349, up by almost 16% for the day so far. The cryptocurrency retraced some after closing yesterday’s trading session with a 28.70% gain in value. If the price breaks down from here, the immediate support is at $0.80. If the price stabilizes and continues its uptrend, the next potential target is the psychological resistance of $1 in confluence with the previous horizontal resistance area.
C+Charge Transforming the EV Charging Landscape
Drivers of electric vehicles can now look forward to a more seamless and informed charging experience, thanks to C+Charge’s innovative blockchain-based platform. With access to clear and valuable information on costs, drivers will also be rewarded with carbon credits backed by cryptocurrency, making EV ownership easier and more rewarding.
In partnership with Flowcarbon, C+Charge aims to make carbon credits more accessible to the public, offering EV drivers the chance to earn Goodness Nature Tokens ($GNT) through use of the app. Property owners can also benefit from the platform, with the ability to monitor energy usage from each charging session, helping to avoid overcharging non-EV drivers for electricity and incentivizing the installation of their own chargers.
With token prices starting at $0.013 USDT and set to increase in three tiers until reaching $0.02350, now is the time to invest in C+Charge and experience the future of electric vehicle charging. Don’t miss out on the chance to own one of the best altcoins to buy today.
CHZ
Another crypto market mover is Chiliz, a blockchain-based sports token. The Chiliz blockchain focuses on non-fungible tokens, Play2Earn games, and Watch2Earn sports events as well as live event ticketing payments.
The Chiliz token, CHZ, has a market capitalization of $1.13 billion and is said to be the fuel for the newly-released blockchain. Token holders will receive rewards for staking on the network. The announcement of the project’s validation of its layer 1 blockchain resulted in a 17.78% increase in the price of CHZ yesterday.
As of now, CHZ is currently trading at $0.1576 with a daily loss of 0.5%. It reached its intra-day peak of $0.1792 and was quickly met with buyers who drove the price to around the 200-day EMA line which is at $0.1628.
The immediate support for CHZ lies between the range of $0.1422 to $0.1453, which coincides with both 10-day and 100-day EMAs. Potential target prices may be as high as the psychological resistance level $0.20.
RobotEra (TARO) Innovative Metaverse Coin One of Best Altcoins to Buy Today
The eagerly awaited RobotEra (TARO) will transport gamers to a futuristic, metaverse-based world where they can create, customize robots, assets, and surroundings with zero coding. Players can also generate income through renting parts of their world or by hosting fee-based events.
HUGE NEWS #RobotEra Army, we have a new roadmap for the project
Take a look ⬇️#NFT #NFTCommunity #P2E pic.twitter.com/8uJZyH0hVB
— RobotEra (@robotera_io) February 2, 2023
RobotEra will blend virtual and augmented reality for a unique gaming experience. Its non-fungible tokens (NFTs), used for in-game items, structures, and territories, give players ownership of virtual assets.
With a $837K raise in its token presale, RobotEra is well-positioned for a strong launch, making it one of the best altcoins to buy today.
Related:
New York University Integrates Near Protocol To Offer Metaverse Studies
The Next Big Metaverse Coin Is Going Into Space, And You Can Invest in Its Presale Now – Heading to $1m Raised
SingularityNET Price is Up 800% in 30 Days And Why There’s Still Much More to Come
Love Hate Inu - Next Big Meme Coin
- First Web3 Vote to Earn Platform
- Vote on Current Topics and Earn $LHINU Tokens
- Secure, Reliable and Anonymous Voting
- Rug Pull Proof - 90% of Tokens Available in Presale
- Accumulate Voting Power by Staking $LHINU Tokens
This article was written for Business 2 Community by Trent Rhode.
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