Forecast by US Bitcoin Company Projects American Business Investment in Bitcoin as Ripple Backs Kamala Harris for 2024 Election Run
River, a US-based Bitcoin technology and financial services firm, estimates that around 10% of American businesses will designate 1.5% of their treasury reserves to Bitcoin, totaling approximately $10.35 billion in the next 18 months. This prediction aligns with concerns about a potential US economic downturn by July 2025.
On the flip side, Ripple has voiced its support for Kamala Harris in the upcoming 2024 presidential race. The company is grappling with challenges tied to the performance of its XRP cryptocurrency when compared to Bitcoin. With the rising acceptance of digital assets, investors are on the lookout for the best cryptocurrencies to enhance their investment portfolios. The following identifies the top 6 altcoins worth keeping an eye on today.
6 Top Altcoins To Monitor Today
Chainlink, a decentralized oracle network facilitating communication between blockchains and data sources, is looking to expand utility for token holders beyond its meme origins. Meanwhile, Cardano’s development team, Input Output (IOHK), and Hedera have teamed up with the Decentralized Recovery Alliance. Furthermore, the collaboration between Conflux Network and Alibaba Cloud represents a significant step in Web3 innovation in Hong Kong. Bitcoin and Ether are currently witnessing losses for the second consecutive week.
1. Uniswap (UNI)
Following a settlement with the Commodity Futures Trading Commission (CFTC), Uniswap Labs has agreed to a $175,000 penalty for allowing unauthorized trading of leveraged Bitcoin and Ether. Even though the UNI token initially surged by 5% in value post-settlement announcement, it later dipped to $6.2, showing a 1.2% decline over 24 hours.
With the UNI token’s current price hovering around the 20-day Exponential Moving Average, there is a potential bullish trend if it decisively closes above this level.
In terms of recent price movements, there have been indications of a change in market sentiment for Uniswap, with increased interest from buyers after testing key support levels between $5.5 and $5.7.
2. Chainlink (LINK)
As a decentralized Oracle network, Chainlink connects blockchains with external data sources, proving to be an essential utility amid growing demand for the LINK token. Following its listing on the Hashkey Exchange, LINK’s price has seen a 5.19% increase in the last 24 hours and a 60% rise over the past year.
Although LINK is trading below its all-time high of $52, its upward trajectory and robust performance suggest significant potential for growth.
3. FLOKI (FLOKI)
Moving beyond its meme origins, Floki is striving to offer utility to token holders and has recently partnered with OG Esports and Valhalla, a play-to-earn metaverse game. While FLOKI’s market trend is displaying positive signs, the token’s price currently stands at $0.000122, showing a 2.16% intraday rally.
Predictions for FLOKI in 2024 hint at a 598% year-to-date surge, indicating further growth potential.
4. Hedera (HBAR)
To bolster security and trust in Web3, Cardano’s Input Output (IOHK) and Hedera have united under the DeRec Alliance banner. Though HBAR has experienced a downward price trend in recent months, a potential breakout above $0.056 could challenge the current trajectory.
5. Conflux (CFX)
Teaming up with Alibaba Cloud, Conflux Network is striving to enhance Web3 innovation in Hong Kong, demonstrating a positive market outlook. CFX’s intraday price change has risen by 0.26%, with forecasts pointing towards a substantial price hike by October 2024.
6. The Meme Games (MGMES)
The Meme Games has managed to raise over $440,000 in its presale linked to the 2024 Paris Olympics and Paralympics. Introducing a unique gamified presale feature, MGMES aims to merge meme culture with investment opportunities, capturing user attention and promising a successful debut on the exchange.
In conclusion, the increasing interest in cryptocurrencies and altcoins, coupled with strategic partnerships and endorsements, outlines a vibrant landscape for investors looking to diversify their portfolios and seize emerging opportunities in the digital asset realm.
