Investors are constantly looking for investment opportunities besides Bitcoin, hence turning to altcoins. The crypto community is full of excitement, anticipating the upcoming Bitcoin halving event expected to take place on April 4, 2024. Despite the current down trend of the overall global market, recent market activity shows optimism for possible opportunities for significant gains. These are five altcoins cryptocurrencies that may provide substantial profits ahead of the Bitcoin halving.

1. Foxy (FOXY)

The newly launched token Foxy started trading on April 12, 2024, with a price of $0.01887 and has demonstrated significant growth. Even though it only experienced a slight rise of 0.87% over the last day, it has generated significant market attention, boasting a trading volume of $136.94 million. There are currently 3 billion FOXY tokens in circulation, with a market capitalization of $56.61 million, ranking 111 on CoinMarketCap. Even though it increased by 28.07% in the past week, showing promise for profits, its market cap remains low, leaving room for future expansion.

Foxy serves as a mascot token on the Linea blockchain. Foxy serves as a cultural currency, a token of humor for Linea blockchain users to unite around and foster a feeling of belonging.

2. Ethena (ENA)

Ethena, currently priced at $1.27, has experienced a significant decrease of 9.89% over the past 24 hours. Its market cap is $1.81 billion, and it boasts an impressive trading volume of $1.55 billion. This suggests strong market confidence in the token. Over the past seven days, Ethena has gained 17.16%, while its performance over the past 30 days stands out with an 85.14% increase. The token’s consistent growth and substantial trading volume point to its potential for continued success.

Ethena is a digital dollar protocol created on the Ethereum platform, offering a cryptocurrency-based alternative to traditional banking infrastructure, as well as a worldwide available savings tool called the ‘Internet Bond’.

3. Toncoin (TON)

Toncoin (TON) is currently valued at $6.62 and has experienced a 7.82% drop in the past day. However, it has one of the highest market capitalizations among altcoins, standing at $22.97 billion. During the last week, Toncoin’s value has gone up by 20.62%, and in the last month, it has seen a notable increase of 55.83%. Toncoin’s circulating supply is 3.47 billion TON in total. Toncoin’s steady rise, large market cap, and substantial trading volume position it as a strong candidate for potential profit.

TON is a community-driven blockchain that prioritizes serving typical consumers with its fast transaction processing capability, evident from its record-breaking 55,000 TPS in Sept 2021. With potential for hundreds of thousands or even millions of TPS, TON enables rapid growth without sacrificing performance or harming the environment.

4. Chintai Token (CHEX)

Chintai, which is valued at $0.318, despite having experienced a significant 15.38% decline in price over the past day. CHEX has a market capitalization of $317.14 million, with 997.24 million coins in circulation. It has recorded a trading volume of 8.51 million over the past 24 hours, demonstrating a heightened trading activity. Chintai token has experienced impressive growth of 46.73% and 121.07%, over the last seven days and 30 days respectively. This shows that the token is an emerging player to watch, for significant potential gains and growth. 

The CHEX token serves as the utility token for the Chintai Network. Its main purpose is to manage resources on the network and enhance liquidity on the platform using various incentive methods.

5. PAX Gold (PAXG)

The current price of PAX Gold is $2,363.60 with a slight decrease of 1.35% in the past day. The market cap of PAXG is $431.70 million, and there are 182,647 PAXG in circulation. In the same period, the trading volume reached $33.23 million, soaring in value by 2.29% and 9.54% over the past week and month respectively. 

Pax Gold (PAXG) is a gold-backed cryptocurrency launched by Paxos Standard creators in September 2019. It operates as an ERC-20 token on the Ethereum blockchain, providing a convenient way for traders to invest in gold. The aim is to make gold more accessible and tradable by creating a cryptocurrency backed by the precious metal, eliminating minimum buy limits.

Conclusion

These altcoins offer various opportunities for investors seeking potential profits leading up to the Bitcoin halving. Investors should carefully assess their options and risk tolerance before investing in the highly volatile altcoin markets, as each altcoin presents its own distinctive characteristics and potential.

The post 5 Altcoins to Buy for 10x Gains Before Bitcoin Halving appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am