With the crypto market gaining momentum as it crosses the $2.5 trillion market cap, certain altcoins stand out—not just for their resilience but also for their potential to reach unprecedented heights. Amidst a market teeming with innovation and competition, a few contenders are on the cusp of setting new all-time highs (ATHs) in the coming week.
Among these are four standout altcoins: Injective Protocol (INJ), Theta Network (THETA), Fantom (FTM), and NEAR Protocol (NEAR). Each demonstrates unique market movements and robust technological underpinnings that could propel it to new peaks. These digital assets have carved out niches in the decentralized finance (DeFi), content delivery, and blockchain platform sectors.
As Bitcoin continues to trade close to $70,000, these altcoins could potentially lead the next bullish wave. In the article “Top altcoins poised to hit ATH in coming week,” we explore the dynamics propelling INJ, THETA, FTM, and NEAR towards their potential breakthroughs.
Top Layer-1 Coins To Invest
Injective Protocol (INJ)
Injective Protocol emerges as a notable player in the DeFi space, aiming to redefine the boundaries of decentralized exchanges with its layer-2 solutions. Currently priced at $42.48 and experiencing a modest daily increase of 1.10%, INJ demonstrates its resilience and potential in a competitive market. With a market cap nearing $3.97 billion and substantial trading volume, Injective is poised for future growth despite being slightly below its recent all-time high.
The Injective Protocol’s chart exhibits a bullish flag formation, indicating a strong possibility of breaking out above the $50 mark and setting a new all-time high in March. The formation, following a significant upswing, suggests that the INJ price is consolidating gains and is poised for the next leg up.
With a current price of $42.48 and a subtle yet positive change of 1.10% over the last day, the INJ price finds high volume to support the bullish sentiment. Close to its recent all-time high and the $50 mark, Injective reflects a strong market momentum and growth potential.
Theta Network (THETA)
Theta Network currently trades at $3.19, with a 3.92% increase over the past day. As a leading blockchain-based video delivery network, it has a market cap of $3.19 billion and is ranked #44. The trading volume for Theta stands at $152,771,972, indicating healthy liquidity. Despite being 80.16% down from its all-time high of $15.90, Theta has risen remarkably by 7829.45% from its all-time low, showcasing its volatility and the potential for significant returns.
Theta Network’s trajectory echoes its previous performance in March 2021 when it achieved a remarkable 292% surge. Currently trading at $3.19 and experiencing a 3.92% rise in the last day, THETA shows a market cap that’s steadily increasing.
The chart suggests that THETA could be on the cusp of replicating its historical leap, potentially establishing a new all-time high. The considerable distance from its previous peak indicates significant room for growth, bolstered by the developing demand for decentralised video streaming services.
Fantom(FTM)
Fantom, with its innovative approach to DeFi, FTM is priced at $0.8232, marking a 2.44% intraday gain. The platform’s market cap is now at $2.31 billion, placing it at #54. With a 24-hour trading volume of $295,736,129, Fantom’s activity underscores its growing popularity.
Currently 76.44% below its all-time high of $3.48, Fantom exhibits significant room for growth, especially considering its staggering 41904.44% increase from its all-time low. This suggests that Fantom has the resilience and potential to rebound towards previous highs, driven by ongoing developments and adoption.
Fantom’s weekly chart shows a double-bottom pattern breakout, a classic technical indicator of a trend reversal. Trading at $0.8232 with a recent 2.44% increase, FTM’s market dynamics are hinting at a resurgence. The pattern suggests that FTM has found a strong support level and is now on a bullish trajectory.
The enthusiastic market volume and substantial growth support the possibility of reaching a new all-time high. Thus, it signifies the market’s growing confidence in Fantom’s platform and technology.
NEAR Protocol (NEAR)
NEAR Protocol has witnessed a substantial 14.75% jump in the past day, trading at $6.20. This reflects strong market confidence, which is evident from its $6.47 billion market cap, ranking it #21.
The protocol enjoys a robust trading volume of $795,905,367. Although NEAR is 69.47% below its all-time high of $20.42. However, it has experienced an impressive 1085.17% surge from its all-time low.
The NEAR Protocol chart presents a rounding bottom formation, indicating a trend reversal with a recent breakout above $3. This pattern typically signifies a gradual and sustained rise. With a current price of $6.20 and a 14.75% 24H increase, NEAR’s price action shows strong bullish momentum.
Conclusion
Each of these Layer-1 Tokens demonstrates unique strengths and opportunities within the crypto market. Their recent performances and the significant gap from their all-time highs suggest that there may be substantial upside potential.
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