Top Cryptos to Invest in Now – Injective, Optimism, Ondo

Bitcoin’s Market Dominance and the Rise of Altcoins

On December 14, 2024, Bitcoin’s market dominance fell below 60%, signaling a shift toward altcoins. According to the Altcoin Season Index, altcoins have been outperforming Bitcoin, highlighting a growing trend in the market. However, historical data shows that Bitcoin often regains dominance after significant altcoin rallies, suggesting this shift may be temporary.

The global cryptocurrency market cap currently stands at $3.66 trillion, reflecting a 1.97% increase in the past 24 hours. With altcoins driving much of this growth, investor attention is increasingly focused on identifying the best cryptocurrencies to invest in right now. This article will explore the top tokens to consider investing in, offering insights into their potential amid current market conditions.

Best Cryptocurrencies to Invest in Right Now

As altcoins continue to gain traction, here are some of the top cryptocurrencies worth considering for investment:

1. Injective (INJ)

Injective has recently introduced a unique feature, Injective AI Intern, designed to engage and educate users within its ecosystem. This AI-driven assistant interacts autonomously on X (formerly Twitter), combining humor and knowledge to promote awareness of Injective’s offerings. At the time of writing, Injective is trading at $28.22, reflecting a 2.83% increase over the past 24 hours. The token is currently trading 17.87% above its 200-day Simple Moving Average (SMA), which stands at $23.91.

• 14-day Relative Strength Index (RSI) is at 42.05, indicating a neutral zone with a likelihood of sideways movement.
• 17 green days out of the last 30, reflecting consistent but cautious performance.
• 24-hour volume-to-market cap ratio stands at 0.0685, signaling relatively high liquidity.
• Fear & Greed Index at 80 (Extreme Greed), indicating increased investor confidence.

2. Optimism (OP)

Optimism has gained significant traction with the launch of two new investment trusts by Grayscale Investments, targeting governance tokens for Optimism and Lido DAO. Leveraging Optimistic Rollups, Optimism addresses liquidity fragmentation and improves scalability while reducing transaction costs. Currently, Optimism holds a total value locked (TVL) of approximately $800 million and plays a pivotal role in Ethereum’s scaling strategy. The price of OP has risen by 1.01% over the past 24 hours, according to CoinMarketCap.

• 14-day RSI at 42.67 suggests neutral momentum and potential sideways trading.
• OP is trading 29.21% above its 200-day Simple Moving Average (SMA) of $1.959.
• Market indicators show a cautiously optimistic outlook with 18 green days in the last 30 days.
• Price prediction for year-end ranges between $2.47 and $4.44.

3. Ondo (ONDO)

Ondo Finance has made strides by integrating its tokenized real-world assets into BounceBit’s CeDeFi V2 platform. This move marks a significant step toward institutional-grade yield products by 2025. Ondo contributes over $600 million in total value locked (TVL) across multiple blockchains. At present, Ondo (ONDO) is trading at $1.88, reflecting modest intraday gains of 0.37%. The asset has shown strong momentum with 21 green days in the past month, representing 70% positive trading sessions.

• 24-hour volume-to-market cap ratio stands at 0.2918, indicating high liquidity.
• Price prediction suggests Ondo could trade between $1.84 and $3.32 by year-end, offering potential returns of up to 77.72%.
• Fear & Greed Index at 80 reflects “Extreme Greed,” signaling increased market interest.

4. Best Wallet Token (BEST)

Best Wallet has gained attention with its upcoming Tokens feature, spotlighting promising early-stage projects like Catslap and Pepe Unchained. BEST, which is currently in presale, has already raised over $4.4 million. The platform positions itself as a multi-functional solution for cryptocurrency users, offering tools for asset management, trading, staking, and token discovery. BEST will be the foundation of the Best Wallet ecosystem, offering benefits like reduced trading fees and enhanced staking rewards for token holders.

• BEST presale has already raised over $4.4 million, with each token priced at $0.0232.
• The platform plans to launch a crypto debit card to streamline crypto-to-fiat conversions, broadening its appeal.
• The platform’s focus on usability and innovation makes it a promising project to monitor in the coming months.

5. Pyth Network (PYTH)

Pyth Network continues to expand its role in delivering real-time market data to decentralized financial applications (dApps). Known as the largest and fastest-growing first-party oracle network, Pyth supports over 40 blockchains and provides 380+ low-latency price feeds covering cryptocurrencies, equities, ETFs, FX pairs, and commodities. Pyth aims to bridge traditional finance and blockchain ecosystems by offering high-fidelity, real-time data essential for blockchain-based financial tools.

• 14-day RSI stands at 51.94, suggesting neutral momentum and potential for sideways trading.
• 21 green days in the past 30 days demonstrate steady momentum for Pyth Network.
• 24-hour volume-to-market cap ratio of 0.0966 reflects relatively high liquidity.
• Analysts predict Pyth could trade between $0.4522 and $0.818268 by year-end.

Conclusion

The cryptocurrency market continues to evolve, with altcoins leading much of the growth. Projects like Injective, Optimism, Ondo, Best Wallet, and Pyth Network are offering innovative solutions that could drive further market expansion. As always, investors should consider market conditions, technical indicators, and long-term potential before making investment decisions.