Top 5 Notable Cryptocurrencies to Purchase This October 8 – OKB, BNB, Maker, GateToken
In the wake of a week-long hiatus, Chinese stocks plummeted following a government briefing devoid of any fresh economic stimulus plans. This slide resulted in the largest monthly drop in the MSCI APAC equity index.
Similarly, U.S. equities experienced a downturn, primarily due to losses in major tech companies and intensifying geopolitical tensions. The VIX index climbed to 22 points, signaling an increase in market volatility, while cryptocurrency volatility remained relatively stable, with front-end implied volatilities at 43%. As digital assets gain prominence, investors seek affordable tokens, with altcoins in high demand.
Top Five Altcoins Worth Considering
- OKB (OKB): Currently trading at $42.47, OKB registered a 1.58% growth in the past 24 hours. Over the past month, the token has displayed consistent strength, closing higher on 21 out of 30 trading days, reinforcing a 70% success rate. As it hovers near its cycle high, market activity remains robust. A bullish sentiment persists, supported by 23 technical indicators pointing towards positive momentum.
- GateToken (GT): The public blockchain GateChain focuses on facilitating digital asset transfers while emphasizing asset security. Its native token, GateToken, is primarily utilized for transaction fees and staking rewards. As of today, GateToken is priced at $8.97, marking a 0.94% uptick over the previous day. Within the past year, its value has soared by 147%, surpassing the performance of 67% of top 100 cryptocurrencies, including Bitcoin and Ethereum. GateToken trades 115.65% above its 200-day simple moving average (SMA), currently at $4.16. The token has experienced consistent growth, with 23 favorable days out of the last 30, representing 77% of the time, and a yearly inflation rate of -5.25%, indicative of a deflationary supply.
- BNB (BNB): Binance recently announced the listing of Scroll (SCR) on its Launchpool and Pre-Market platforms. Users can lock BNB and FDUSD to receive SCR airdrops within two days. Scroll is Binance's first Pre-Market project and operates as an Ethereum zkEVM Layer 2 solution. As of today, BNB is trading at $580.36, reflecting a 0.71% increase in the past 24 hours. Over the past year, BNB has risen 180%, surpassing 76% of the top 100 cryptocurrencies, including Bitcoin and Ethereum. The token is currently trading 9.09% above its 200-day simple moving average (SMA) of $532.14, indicating strong momentum.
- Flockerz ($FLOCK): Flockerz revolutionizes the meme coin market with its vote-to-earn model and decentralized governance system, Flocktopia, a DAO (Decentralized Autonomous Organization). The project is currently in its presale phase and has already raised over $534,000. The DAO offers token holders the opportunity to participate in decision-making and earn rewards for their contributions.
- Maker (MKR): Maker is currently trading at $1,415.01, marking a 0.88% increase in the past 24 hours. Over the past year, the price has increased by 3%. The coin is expected to remain within the range of $1,417.37 and $1,960.37 this week, with the potential for a 38.31% increase by October 14, 2024, if it reaches the upper price estimate. For the following week, forecasts suggest a range of $1,960.37 to $2,602.04, with a possible 32.73% increase by October 21, 2024, if the higher prediction holds. In the longer term, MKR could trade between $1,417.37 and $4,181.71. If it reaches the upper end of this range, it would represent a 195.54% gain from its current price.
Investors seeking affordable tokens in the digital assets market find altcoins in high demand. Among the top five altcoins worth considering are OKB, GateToken, BNB, Flockerz, and Maker. These tokens offer various benefits, such as transaction fees, staking rewards, and participation in governance decisions, making them attractive choices for investors.
