6 Best Altcoins to Buy Now May 16 – Arweave, Bitget, Waves

The heat map of major cryptos in the market has been split in half. Several tokens are losing value, with few outstanding tokens being profitable options. As the market recovers, investors can consider this analysis to determine decent options worth buying.

With the crashing market, a few cryptos made big gains today. These tokens have the potential to deliver huge ROIs to investors. Our analysis covers Arweave, Wormhole, Bitget, Waves and Avalanche.

6 Best Altcoin to Buy Now

Market situations are currently not positive as the global market capitalization continues to shrink. Although some cryptos have made gains despite the volatility, market sentiment remains bearish. Furthermore, a neutral greed index indicates the market recovery are days away

Meanwhile, Wormhole has been experiencing growth lately, with its current price at $0.5741, reflecting a 7% increase over the past 24 hours. Furthermore, Arweave’s recent rise in value is closely linked to the launch of its new blockchain, Arweave AO, which is designed to increase efficiency and transaction speed. This development has sparked interest in the crypto community.

1. Arweave (AR)

Arweave is an innovative project that has continued to achieve profits despite the bearish market conditions. The decentralized storage network provides a platform for the unlimited storage of data. The team describes it as “a jointly owned hard drive that never forgets,”

Furthermore, the network hosts “the permaweb”. This permaweb is a permanent, decentralized web that boasts various community-centric applications and projects. This unique feature has led to the sign gaining widespread acceptance.

In the last 24 hours, AR experienced a rise of 7.79%, sitting at $43.75. Furthermore, its price has risen significantly by 70.57% in the past month, offering hope to investors. Furthermore, Arweave maintained a noticeable 575.05% increase in value over the previous 24 hours.

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— Only Arweave (@onlyarweave) May 15, 2024

Additionally, it has seen a surge in trading activity, indicating significant interest relative to its market size. The positive momentum in Arweave’s value can be attributed to the unveiling of its new blockchain. This new blockchain, “Arweave AO,” promotes efficiency and transaction speed.

Despite price instabilities, the token has maintained resilience above $40, suggesting a potential for additional growth. Additionally, investor sentiment on Arweave’s price forecast is bullish. This positive momentum is further demonstrated by a Fear & Greed Index reading of 57 (Greed).

2. Waves (WAVES)

Waves operates as a decentralized exchange (DEX). It uses the Waves-NG protocol, which can handle more than 1,000 transactions per second. Additionally, transactions are added to blocks in about two seconds. Users generate blocks based on their interest, which is power efficient and secure.

Furthermore, the blockchain supports decentralized applications (DApps) and smart contracts. The project enables the trading of digital assets and real commodities. Waves uses a powerful native language called Ride for smart contract creation. This makes it a developer-friendly protocol, which makes blockchain development simple.

The current price of WAVES is $2.38, with an increase of 5.42 in the last 24 hours. In the past year, its price has increased by 55.5%. Despite WAVES trading slightly below its 200-day simple moving average, its 14-day relative strength index (RSI) is 51.45. This RSI indicates neutrality, which means it has the potential to trade higher soon.

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Furthermore, in the past 30 days, GOLWE has had 18 green days, and its 30-day volatility is high. The token therefore boasts high liquidity. This robust activity reflects strong investor interest and market confidence. Investors can expect the token to trade positively and add it to their watch list.

3. Mega Dice (DICE)

Mega Dice is growing fast as one of the fastest growing crypto casinos. It boasts more than 50,000 active users and a monthly turnover of $50 million. With over 4,000 games and a sportsbook offering multiple options, users have plenty to enjoy.

Recently, they launched a presale for their token, $DICE, on the SOL blockchain. The presale has raised more than $1 million so far. This strong demand is reflected in the current price, which is $0.075.

Furthermore, the token aims to reform the platform by offering daily rewards to users based on casino performance. It uses numerous strategies to generate excitement and community engagement, including airdrops to $SOL whales. This approach accelerated the pre-sale’s pace.

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Mega Dice is gearing up for the DEX launch post-presale, encouraging early investors to secure tokens at bargain prices. This pre-sale marks a major milestone in the crypto market and even the gaming niche. Investors exploring the promising Gamble’s token can add $DICE to their watchlist.

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4. Avalanche (AVAX)

Avalanche distinguishes itself for its speed and eco-friendly protocol, enabling efficient decentralized applications. Recent developments have seen the token attract renewed interest and investment. Moreover, the project’s ability to efficiently host decentralized finance (DeFi) applications ensures that it remains in the mainstream.

Furthermore, Avalanche’s high throughput, scalability and reliability promote a powerful platform. This platform enables the development of user-friendly applications such as LiveDuel’s sports betting platform. This strategic utility increases AVAX’s visibility and acceptance within the broader market. It also shows its capabilities beyond conventional cryptocurrency transactions.

Avalanche is currently priced at $34.92, representing an increase of 5.79% over the last 24 hours. Furthermore, its price has risen by an impressive 132% over the past year, outperforming 59% of other top cryptoassets. The coin is trading above its 200-day simple moving average and has shown positive performance compared to its initial token sale price.

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Meanwhile, the sentiment around Avalanche’s price forecast points to positivity. Additionally, the Fear and Greed index shows 56 (Greed). Recent market sentiment shows that the token is poised for growth, burning through significant price levels.

5. Bitget (BGB)

Bitget has rolled out a Mining Promotion Program that will run from April 28 to May 20, 2024. This project encourages users to trade ETH/USDT and BTC/USDT spot pairs on the platform. It automatically rewards them with BGB depending on their trading commission fees.

The token revealed a strategic partnership with Anboto Labs. This collaboration streamlines crypto investors’ trading experience. The partnership archives this by incorporating Anboto’s trading tools into Bitget’s platform.

To celebrate this collaboration, Bitget is organizing an exclusive trading match with Anboto Labs. Participants can win an iPhone 15 and a share of a $100,000 bonus pool. The match will take place from May 14 to June 14. It also provides merchants with an engaging platform to showcase their skills and earn rewards.

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— Bitget (@bitgetglobal) May 16, 2024

The token is currently trading at $1.1 at press time, representing a 4.00% increase in the last 24 hours. Over the past year, Bitget Token has grown significantly, increasing in price by 134%. It notably outperformed Bitcoin and Ethereum during this period.

The trading price of Bitget Token is currently above its 200-day simple moving average. The sentiment surrounding Bitget Token remains bullish, as demonstrated by the Fear & Greed Index at 56 (Greed). This indicates that investors are optimistic about its future performance.

6. Wormhole (W)

Wormhole continues to maintain a steady growth to trade at $0.5741 today. This price reflects an increase of 7% in the last 24 hours. This placed him among the top winners in the market today. Over the past week, it has steadily climbed the chart, indicating strong momentum.

Analysts expect a further rally before May ends, with a potential value of $0.79. This rise in value is attributed to Wormhole’s increasing adoption. Last month, the coin became available in SPL format on Solana and ERC-20 format on Ethereum and EVM L2s.

This expansion has contributed to its improved liquidity, as reflected by its market capitalization and ranking. Currently, Wormhole is trading above its 200-day SMA. It is also the best token in the Solana Coins & Tokens sector.

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— Wormhole (@wormhole) May 15, 2024

Furthermore, the tick forecast suggests that it will maintain its rise. The Fear & Greed index, which stands at 74 (Greed), indicates that investors are confident about the token. Considering the ongoing developments within the crypto market, investors can add Wormhole to their watch list.

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