Best Crypto to Buy Now 17 May – Conflux, Render, Litecoin
Tether, the largest stablecoin issuer and one of the most controversial companies in crypto, announced a new investment strategy today: the company will allocate up to 15% of its reserves to buy and hold Bitcoin.
The strategy moves away from Tether's long-held conservative investment approach and shows that the company believes that Bitcoin is the future and offers more upside than any other cryptocurrencies.
In light of this new development, what are the best cryptos to buy now?
Tether's new approach to diversifying its reserves is not without deep consideration seemingly.
The company's Chief Technology Officer, Paolo Ardoino, cited Bitcoin's robustness, decentralized nature, and escalating popularity among both institutional and retail investors as the motivating factors behind this decision.
Reflecting on Bitcoin's inherent limitations on supply, he acknowledged the pivotal role the digital asset plays in the current financial market.
As the end of March came into focus, Tether's reserves stood at approximately $82 billion.
It had also revealed, in a recent first-quarter attestation, that it held $1.5 billion worth of Bitcoin and $3.4 billion in gold.
However, the lion's share of Tether's reserves, amounting to $69.3 billion, is held in liquid assets like short-term U.S. Treasury bills, which have been yielding substantial returns over the past twelve months.
The company has clarified that the newly procured Bitcoin tokens will be managed and stored by Tether itself.
These tokens will be supplemental to the main, essential assets kept in reserve to support the USDT.
The firm's Bitcoin holdings are also expected to remain within the boundaries of its shareholder capital buffer, which Ardoino divulged stands in excess of $2.5 billion.
The cryptocurrency market's landscape is indeed changing, and Tether's altered investment strategy seems to be a reflection of that.
Based on a blend of solid fundamentals and/or technical analysis AI, CFX, ECOTERRA, RNDR, YPRED, LTC, and DLANCE are some of the best cryptos to buy now.
AiDoge: Pioneering Meme Creation with AI; One of the Best Cryptos to Buy Now
AiDoge's presale is off to a roaring start with its presale already raising over $8.8 million in just weeks. The fundraising drive for this AI-backed meme generation platform has been accumulating roughly half a million dollars per day.
AiDoge's presale is expected to reach its limit of $14.9 million in the coming weeks, based on its current rate.
If this forecast proves accurate, the project would accomplish the impressive feat of selling out its entire presale allocation within a month, highlighting strong demand from the market participants.
The strong momentum is also evident in the coverage the project has been receiving from leading cryptocurrency news outlets, all of which have identified AiDoge as one of the best crypto presales of the year.
At present, the presale price for the AiDoge token is $0.0000308, and there are just four days remaining until the next price increase.
The unique selling of AiDoge lies in its meme-to-earn (M2E) platform.
The platform will enable users to create memes utilizing the project's AI-powered meme generator.
Should these memes become popular, their creators will be able to earn cryptocurrency rewards.
The memes' blockchain records will then ensure that creators maintain ownership of their intellectual property.
According to AiDoge's Whitepaper, their platform will employ advanced AI technology to generate memes based on user-provided text prompts, similar to that of the popular chatbot, ChatGPT. This makes meme creation accessible to all.
Memes are then posted on a public wall where the community can vote for their favorites.
A built-in mechanism within the platform will promote the best memes and reward their creators with $AI tokens.
Unlike other meme coins that lack utility, the $AI token functions as the primary currency within AiDoge.
It can be used to purchase credits for meme generation, stake for daily rewards and other benefits, and reward community members who generate popular content.
The $AI token operates on the Arbitrum network, an Ethereum layer-2 scaling solution, which allows for speedy transactions and extremely low gas fees.
With its strong momentum and pioneering meme-to-earn system, AiDoge seems well-positioned to disrupt the meme coin space and set a new standard for utilizing blockchain for creative content monetization.
The Conflux (CFX) cryptocurrency has recently been the subject of significant investor interest, as it attempted to break out from the Fib 0.5 level at $0.3101 yesterday.
However, CFX has since faced increased selling pressure in the area, leading to its current price of $0.3023 and a loss of 3.60% so far today.
The 20-day EMA for CFX is currently at $0.2932, while the 50-day EMA is at $0.3031, and the 100-day EMA is at $0.2683.
These values indicate a mixed outlook for CFX, as the price is hovering between the 20-day and the 50-day EMAs.
The RSI stands at 50.87, down from yesterday's 53.88, suggesting that momentum has shifted slightly toward the bearish side.
The MACD histogram has increased to 0.0045 from yesterday's 0.0031, indicating that bullish momentum may still be present.
However, the volume has declined to 179.656 million from the previous day's 318.463 million, with the volume moving average at 136.074 million.
This reduction in volume could signify a decrease in trading interest and may lead to further price consolidation.
In terms of resistance, CFX faces immediate resistance at the Fib 0.5 level at $0.3101. If it manages to break through this level, the next significant resistance will be at the Fib 0.618 level at $0.3520.
On the flip side, if CFX fails to remount the Fib 0.5 level, support may be found at the Fib 0.382 level at $0.2682. This support level is in confluence with the horizontal support range of $0.2618 to $0.2733.
The technical indicators present a mixed outlook, with the potential for either further consolidation or a possible rebound.
Traders and investors should closely monitor the price action near the Fib 0.5 level and the aforementioned support and resistance levels to make informed decisions in the immediate future.
Recycle-To-Earn: ecoterra’s Eco-Friendly Approach to WEB3
With climate change an urgent threat, ecoterra seeks to drive real-world impact through blockchain technology.
At a pace of around $500,000 per week, ecoterra's fundraising is taking flight, and investors are quickly grabbing their $ECOTERRA tokens before the next price increase.
Once the presale crosses the $3.925 million mark, the token price is set to rise from the current $0.00775 to $0.0085 in stage 7.
Beyond its financial prospects, ecoterra's unique approach to environmental sustainability distinguishes it from other start-ups.
Integrating blockchain technology with environmentally friendly practices, ecoterra will incentivize recycling, facilitate trade in recycled materials, and encourage individuals and businesses to offset their carbon footprint.
Users can then earn $ECOTERRA tokens every time they recycle, creating a model that promotes sustainable practices.
ecoterra's platform will also feature a carbon offset marketplace and a recycled materials marketplace, simplifying the processes of offsetting carbon emissions and purchasing recycled goods with $ECOTERRA or other cryptocurrencies.
The platform's Impact Trackable Profile will allow users to monitor their eco-friendly practices, a feature expected to resonate with environmentally-conscious businesses.
With the $ECOTERRA token price set to increase from $0.00775 to $0.0085 once the presale hits the $3.925 million mark, early investors stand to benefit from potential gains.
The token is slated to list across major cryptocurrency exchanges at $0.01 later this year.
With increasing concern about climate change, projects like ecoterra will play a significant role in global environmental efforts.
Render Token (RNDR)
Render Token (RNDR) has seen a substantial increase in price recently after trading sideways for the past week.
Yesterday, RNDR convincingly bounced off the Fib 0.382 level at $1.766, in confluence with the 50-day EMA, posting a gain of 7.24%.
This bullish momentum has carried over, with the cryptocurrency experiencing a gain of 19.64% so far today.
The EMAs are in a bullish alignment, with the 20-day EMA at $1.955, the 50-day EMA at $1.821, and the 100-day EMA at $1.595.
The fact that the shorter-term moving averages are above the longer-term ones indicates an ongoing uptrend.
The RSI has risen from yesterday's 50.83 to 62.33 today, signaling increasing buying pressure.
The MACD histogram is also showing a potential bullish crossover, with the value improving from -0.042 yesterday to -0.008 today.
As for trading volume, it has nearly doubled from the previous day, with 26.887 million RNDR tokens traded compared to 14.412 million yesterday.
The volume moving average has also increased to 18.663 million, suggesting a surge in interest in the asset.
The Render Token is currently trading at $2.303, with a gain of 19.64% so far today.
Despite this significant move to the upside, RNDR is struggling to break out from the immediate resistance at the Fib 0.786 level of $2.312.
On the other hand, immediate support can be found at the Fib 0.618 level at $2.085.
If the bullish momentum continues, a break above the $2.312 resistance level could open up further upside potential toward new highs.
Based on the current technical indicators, the immediate outlook for Render Token appears to be bullish.
Traders are advised to monitor the RSI and MACD for any signs of weakening momentum and to keep an eye on trading volume to gauge market interest.
yPredict Offers Ai-Powered Crypto Trading Advantage; One of the Best Crypto to Buy Now
The AI-powered cryptocurrency trading and market intelligence platform, yPredict, has surpassed $1.2 million in its presale fundraising round.
This successful campaign stands out as one of the most active fundraising efforts this year for crypto startups.
The presale will move into stage 6 once $1.632 million has been raised, increasing the price of the $YPRED token from $0.07 to $0.09 per token.
At the current rate of fundraising, this could happen within a week.
Predicting cryptocurrency prices is an immensely complex task. However, AI technology, which has been rapidly advancing, may offer a solution.
AI models can analyze huge amounts of price data to detect trends that might otherwise go unnoticed.
This capability has led to the development of the yPredict platform and its AI-powered trading signals system.
The team behind yPredict includes top AI developers and quantitative analysts focused on providing traders with a competitive advantage.
According to yPredict's whitepaper, the platform will offer access to AI-powered trading signals, breakout alerts, pattern recognition tools, and social media/news sentiment analysis features.
yPredict will have a marketplace that enables market experts and developers to earn money by letting other users subscribe to use their model predictions or data research.
The full version of the yPredict Analytics, Repository, and Marketplace platform is scheduled to launch by the end of 2023.
An early beta version of the platform is already available, with a waitlist for those interested in early access.
The $YPRED token, issued on the Polygon blockchain, will power the yPredict trading platform. To access premium features, users will need to pay subscription fees in $YPRED tokens.
Ten percent of these fees will be shared with existing token holders, incentivizing them to hold onto their tokens and reducing sell pressure.
The early success of the yPredict presale highlights the promise of AI-powered trading tools in the cryptocurrency space.
By leveraging AI to gain insights into the complex and fast-moving crypto markets, yPredict has the potential to give traders and investors an edge.
For cryptocurrency enthusiasts interested in Artificial Intelligence and quantitative trading strategies, yPredict may be worth watching.
Litecoin (LTC) has been showing strong upward momentum in recent days, with the price currently trading at $93.84, up by 4.19% so far today.
Following a bounce off the Fib 0.382 level at $80.59 on May 14, LTC is now on its fourth consecutive green candle.
The immediate challenge for the cryptocurrency is to close above the Fib 0.618 level at $90.21, which coincides with the horizontal resistance range of $90.18 to $91.57.
The technical indicators are painting a bullish picture for LTC.
The 20-day EMA at $86.121 is now above both the 50-day EMA at $87.623 and the 100-day EMA at $87.039.
This suggests a growing bullish sentiment among traders and investors, as shorter-term moving averages rising above longer-term ones typically indicate a positive trend.
The RSI has risen to 62.89 from yesterday's 57.54, indicating an increase in buying pressure and a shift toward overbought territory.
The MACD histogram is showing a bullish crossover, with the value at 1.22, up from yesterday's 0.68. This crossover signals a potential continuation of the current uptrend.
Trading volume has also been on the rise, with today's volume at 1.612 million, an increase from the previous day's 1.212 million.
The volume moving average of 684.387 thousand further supports the idea of growing interest in LTC.
Considering these technical indicators, LTC faces immediate resistance at the Fib 0.786 level at $97.06. If the price can break above this level, it may signal further upside potential.
On the other hand, immediate support can be found at the Fib 0.618 level at $90.21, which coincides with the horizontal support range of $90.18 to $91.57.
Should the price fail to maintain its current bullish momentum and drop below this support zone, traders should be cautious of a potential trend reversal.
The technical indicators for Litecoin (LTC) suggest a continued upward movement in the immediate future.
Traders and investors should keep a close eye on the resistance and support levels mentioned, as well as the RSI and MACD indicators, to make informed decisions in response to the evolving market conditions.
DeeLance: Empowering Freelancers in the Blockchain-Powered Metaverse
DeeLance, a blockchain-based freelance and remote working platform, has achieved an important milestone in its presale of native tokens.
The presale of DeeLance’s $DLANCE token has raised over $900,000 so far, with each token priced at $0.033.
Deelance is developing a cryptocurrency and NFT-powered metaverse that connects freelancers and employers, changing how remote work is done.
DeeLance’s metaverse is a blockchain-powered, work-focused digital environment with lower fees than traditional freelance websites.
By tokenizing freelance work into NFTs, DeeLance offers a secure and trustworthy way to transfer ownership of work.
This approach helps resolve issues such as copyright infringement and payment fraud, instilling greater confidence and security for all parties.
The platform will also simplify the signup process, offering low fees and fast cryptocurrency payments to ensure transparency and security through its escrow system and smart contracts.
DeeLance’s metaverse, designed for users to socialize, work, and earn, will include customizable avatars, commercial virtual land, office space, and advertising opportunities.
The platform also includes a general NFT marketplace for digital assets like art, photography, trading cards, and music.
The ERC-20 token, $DLANCE, is central to the platform’s freelance and remote working metaverse.
Token holders can also qualify for NFT drops and collaborations, unlocking exclusive Metaverse VIP experiences and gaining access to tools and services.
As remote work becomes more common, decentralized freelancing metaverse platforms like DeeLance are set for major growth.