Top penny cryptos to watch in December
Cryptocurrencies have been muted in December.
There are signs that crypto outflow is increasing.
OCEAN, FET, and XRP are great tokens to trade.
December has been a somber month for cryptocurrencies as investors focused on the upcoming Fed decision and activities surrounding FTX’s collapse. Bitcoin has remained steady at $17,000 while the total market cap in the industry has been stuck at about $830 billion. Here are some of the top penny cryptos to watch in December.
Ocean Protocol | OCEAN
Ocean Protocol is a blockchain project in the data analytics industry. It runs a digital marketplace where users can sell all kinds of data. $OCEAN is the native token for the network. It is used to stake on data for curation and buying and selling data.
In the chart below, we see that the OCEAN price went parabolic in December as investors rushed to buy the coin. It jumped to the highest level since November 9, which was about 95% above the lowest level this year. The token has risen above the 25-day and 50-day moving averages while the Relative Strength Index (RSI) has moved close to the overbought level.
Therefore, OCEAN token price will likely remain volatile in December, making it a good one to trade. If this happens, it will likely retest the important resistance level at $0.2240.
OCEAN/USD chart by TradingView
How to buy OCEAN
Binance
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.
Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
KuCoin
Kucoin is a cryptocurrency exchange which offers over 200 cryptocurrencies.
Kucoin has a wide range of services, such as; a built-in peer-to-peer exchange, spot and margin trading, bank level security and a wide range of accepted payment methods.
Users can benefit from a beginner-friendly interface and relatively low fees.
Fetch.ai | FET
Fetch.ai was recently a relatively unknown token until it went parabolic in December. It jumped to a high of $0.1290, which was about 145% above the lowest level in November. After peaking last week, the token has slumped by more than 30% from its highest level during the month.
For starters, Fetch.ai is a blockchain project that runs the Autonomous Agent Technology (AAT). It powers peer-to-peer applications with autonomation and AI capabilities. In simple terms, an autonomous agent is a software entity that carries out tasks on behalf of a user or another program with a degree of autonomy.
Finally, AEAs enabling new business cases and leveraging insights from CoLearn in a P2P environment is our Web3 canvas to create a new internet that fulfils its original promise. I hope this gives a brief overview of what we are building.
— Humayun (@HMsheikh4) December 12, 2022
Fetch.ai price jumped sharply early this month as the number of transactions in the network jumped. It also rose after Binance enabled staking the token.
How to buy Fetch.ai
Binance
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.
Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
Coinbase
Coinbase is a global cryptocurrency exchange. Its platform is well designed for beginner investors and it offers a wide range of coins, as it has over 100 to choose from.
Coinbase has high level security built into the platform, a range of diverse features to use and it offers its users options for storing their crypto, such as being able to store coins on the Coinbase exchange.
Ripple | XRP
Ripple is one of the biggest cryptocurrencies in the world with a valuation of more than $19 billion. I classify it as a penny crypto because it constantly trades below $1. Ripple price has been under pressure in the past few weeks as investors watch the ongoing case.
December will be an important month for XRP because of the potential proceedings in the United States. SEC and Ripple could reach a settlement, according to some analysts, as we wrote here. Therefore, as the case turns two years, there is a likelihood that the coin will see some volatility in December.
How to buy Ripple
Binance
Binance is one of the largest cryptocurrency exchanges in the world. It is better suited to more experienced investors and it offers a large number of cryptocurrencies to choose from, at over 600.
Binance is also known for having low trading fees and a multiple of trading options that its users can benefit from, such as; peer-to-peer trading, margin trading and spot trading.
FP Markets
FP Markets combines metals, indices connectivity and award-winning execution speed with institutional-grade liquidity to provide traders consistently tighter spreads and unparalleled trading conditions. FP Markets offers Forex, Equities, Commodities, Cryptocurrency, Futures and Index CFDs all from one account.
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Filed under: Bitcoin - @ December 13, 2022 10:10 am