Best Crypto to Buy Now February 23 - Polygon, Pyth Network, Axelar

Best Crypto to Buy Now February 23 – Polygon, Pyth Network, Axelar

Time Stamp: February 23, 2024 1:16 PM

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Finding the best crypto to buy right now is a never-ending task, with dozens of tokens launched on CEX and DEX platforms daily.

Investors always search for significant profits, which requires continuous effort and time. Insidebitcoins helps investors by regularly compiling a list of top tokens for investment. As such, traders can capitalize on the intending bull run in the market.

Best Crypto to Buy Now

Many tokens have experienced surges, competing to be recognized as top investment choices. This competition frequently leads to the emergence of innovative investment prospects, appealing to investors in search of promising opportunities. However, this article highlights several of these tokens. 

1. Polygon (MATIC)

Polygon is an Ethereum Layer 2 (L2) scaling solution that has witnessed remarkable growth since its inception. Its native token, MATIC, has surged by an impressive 32.68% in just one month, securing its place as the 14th largest cryptocurrency. It also boasts a market volume of approximately $856,088, according to CoinMarketCap rankings.

Furthermore, Polygon facilitates various types of blockchain infrastructures, including optimistic rollup chains, ZK rollup chains, and standalone chains. By leveraging Polygon, developers can create diverse blockchain solutions tailored to their needs.

PYTH Price Chart

PYTH Price Chart

Moreover, Polygon extends Ethereum’s capabilities into a comprehensive multi-chain ecosystem, often called the Internet of Blockchains. This ecosystem bears similarities to other multi-chain frameworks like Polkadot, Cosmos, and Avalanche. However, Polygon distinguishes itself by inheriting Ethereum’s robust security measures, dynamic ecosystem, and transparency.

Despite its recent sluggish movement, there are growing concerns among analysts regarding the speculative activity surrounding MATIC within the blockchain industry. These concerns stem from various factors, including the token’s trading performance relative to its token sale price, liquidity, and availability.

MATIC is trading above its 200-day simple moving average, indicating a positive trend in its price movement. Polygon has received significant attention in the blockchain space due to its role in enhancing Ethereum’s scalability and interoperability. 

2. KuCoin Token (KCS)

KuCoin Token (KCS) operates as an ERC-20 token on the Ethereum blockchain, making it compatible with most Ethereum wallets. Currently valued at $10.64, it has seen a 2.55% increase over the day. This upward trend aligns with a bullish sentiment in price prediction. 

In addition, the Fear & Greed Index of the token shows a value of 76, indicating a greedy market sentiment. KCS demonstrated a 20% increase in price last year, consistently trading above its 200-day simple moving average. Additionally, it has outperformed its initial token sale price, reflecting positive market sentiment and investor confidence.

KCS Price Chart

KCS Price Chart

A recent development involves KuCoin Token forming a partnership with Cryptorobotics, designating Cryptorobotics as the official broker and partner of KuCoin. This collaboration aims to streamline trading processes for KuCoin users by utilizing Cryptorobotics’ automated solutions tailored to the cryptocurrency market.

Furthermore, Cryptorobotics provides advanced trading tools such as crypto bots, copy trading features, crypto signals, AI-driven bots, and smart order functionalities. These tools aim to automate trading tasks, improve efficiency, and adapt real-time strategies to the crypto market.

Through API integration, KuCoin users can seamlessly access Cryptorobotics’ suite of tools directly on the KuCoin platform. This integration enhances the growing importance of automation in modern crypto trading practices. It enables users to optimize their trading strategies and capitalize on market opportunities.

3. Pyth Network (PYTH)

Pyth Network (PYTH) has recently experienced a 20% decrease in its price from its peak value of $0.68, followed by an expected 5% recovery. This decline was influenced by a sell-off among investors, particularly during February 8-14, following a price surge.

Pyth Network is the largest and most rapidly expanding first-party Oracle network. It specializes in delivering real-time market data to financial decentralized applications (dApps) across over 40 blockchains. It also offers a wide array of 380+ low-latency price feeds spanning cryptocurrencies, equities, ETFs, FX pairs, and commodities.

PYTH Price Chart

PYTH Price Chart

Furthermore, the network boasts contributors of major exchanges, market makers, and financial services providers who furnish their price data for smart contract utilization. Presently, PYTH is trading at $0.5521, reflecting a marginal 0.43% increase over the last 24 hours.

The Pyth Network has recently introduced its Bitcoin Exchange-Traded Fund (ETF) Price Feeds. This aims to enhance accessibility to real-time, reliable price data for 13 Bitcoin ETFs for DeFi developers and users. The approval of Bitcoin ETFs represents a significant milestone for the cryptocurrency community. 

Moreover, Bitcoin ETFs offer a gateway to broader adoption by facilitating mainstream investors’ access to the leading cryptocurrency. This is done without encountering direct Bitcoin ownership’s technical and security complexities. Developers now have seamless access to integrate Bitcoin ETF price feeds from the extensive offerings provided by the Pyth Network.

4. Sponge V2 (SPONGEV2)

Sponge emerged amidst the meme coin boom of 2023, capturing investor attention with its promise of substantial returns. Following a successful debut on Uniswap, several centralized exchanges, including Gate.io, MEXC, and Bitget, quickly listed Sponge, further boosting its popularity.

Now, Sponge V2 is on the horizon, poised to offer even greater potential for gains and utility than its predecessor. Investor interest remains high, with nearly 10 million V1 tokens already staked and bridged for V2, accompanied by a remarkable 188% APY reward.

The impending launch of Sponge V2 brings a unique Play-to-Earn (P2E) game, introducing a new dimension of utility to the token. Through gameplay, participants stand to earn $SPONGEV2 tokens, adding an interactive element to the investment. Moreover, the roadmap for Sponge V2 outlines three stages. 

Stage 1 entails the initiation of staking, alongside the commencement of research for the Sponge P2E Game, providing early adopters with a buy-to-stake bonus. Stage 2 focuses on the claim and listing of $SPONGEV2, concurrent with developing the Sponge Game and a target to attain 10,000 holders. Finally, Stage 3 aims for Tier 1 CEX listings, a $100 million market cap milestone, and the launch of the Sponge Game app.

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Furthermore, Sponge V2 aims to build upon the success of its predecessor while enhancing utility and rewards. These developments form a comprehensive strategy designed to drive momentum for the SPONGE V2 token, leveraging trends observed in other successful projects in the crypto market.

Visit Sponge V2 Presale

5. Axelar (AXL)

Axelar recently partnered with Function X to enhance cross-chain interoperability on the f(x)Core blockchain. This collaboration facilitates direct connections between the two chains, bypassing the need for intermediaries like the Cosmos Hub. By integrating with Axelar, Function X expands its reach, allowing users to access a broader array of on-chain assets and liquidity. 

Moreover, this integration simplifies cross-chain transactions and enhances user interaction with Function X and the broader blockchain ecosystem. Function X plans to bridge wrapped assets from Axelar to f(x)Core in the next phase and explore potential integrations with Axelar’s applications.

AXL Price Chart

AXL Price Chart

Axelar, known for its seamless integration across over 50 blockchain networks, offers decentralized security and programmability without constraints. Its technology has gained recognition from major entities like Microsoft. This positions it as a crucial tool for merging off-chain infrastructures with on-chain networks. 

Furthermore, Axelar’s innovative solutions have significantly advanced composable USDC through collaboration with Circle’s CCTP protocol. Axelar’s token (AXL) has seen an intraday increase of 2.81% and a remarkable 94% surge over the last year. The token outperformed 72% of the top 100 crypto assets during this period. 

In addition, the current sentiment towards Axelar’s price prediction is bullish, coupled with an Extreme Greed reading of 76 on the Fear & Greed Index. Additionally, Axelar has demonstrated positive performance compared to its token sale price. The token has traded for 20 green days out of the last 30, indicating strong market liquidity.

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