Best Crypto to Buy Right Now October 29 – Ethena, THORChain, MultiversX

The cryptocurrency market is experiencing significant momentum this October, commonly referred to as “Uptober,” as Bitcoin rallies above $71,000. This price level represents its highest point since June 2024 and marks a potential lead-up to a test of its all-time high of $73,500. Several factors are fueling this surge, notably increased investments through Bitcoin-focused ETFs and heightened anticipation around the upcoming U.S. election, which could impact regulatory sentiment.

This bullish wave has positively affected other major altcoins as well. Ethena, for instance, has shown an impressive 12% increase in recent days, now trading at $0.3835. The SEI token has also performed well, with an 8.34% increase over the past 24 hours. 

This article highlights some of the best crypto to buy right now, driven by a mix of market dynamics, speculative interest, and potential regulatory impacts from significant economic events.

Best Crypto to Buy Right Now

Recent figures highlight substantial interest in the Crypto All-Stars pesale. The project has successfully gathered over $2.8 million, reflecting strong enthusiasm from early investors. Meanwhile, the price of the MultiversX token currently stands at $25.12. This represents a 4.92% intraday increase, suggesting a positive trend in market activity. 

1. Sei (SEI) 

The Sei ecosystem has been expanding with new integrations and notable community achievements, signaling steady growth. Sei Network’s recent integration with XION introduces Chain Abstraction, which supports seamless native asset transfers and unified accounts across different environments. This advancement benefits developers and users by streamlining interactions within Sei’s high-speed, multi-VM network.

Additionally, this integration may support the mainstream adoption of Web3 by enabling better functionality across blockchain ecosystems and improving accessibility for developers building consumer-focused applications. Furthermore, Orderly Network, a Web3 liquidity layer, has announced plans to expand its reach to Sei. 

By combining aspects of Solana’s architecture with EVM capabilities, Sei allows Orderly’s infrastructure to support on-chain perpetual trading (perps) platforms within its ecosystem. This expansion connects Sei’s user base to Orderly’s shared orderbook, which enhances trading depth by linking with orderbooks from other EVM chains like Arbitrum and Polygon. 

Welcoming Orderly Network to Sei!@OrderlyNetwork’s cloud liquidity infrastructure connects over 30 DEXs to Sei, unlocking access to 60+ markets.

At the forefront, @_WOOFi—built on Orderly—brings top-tier trading experiences, setting a new standard for DeFi on Sei.

Welcome to… pic.twitter.com/9qsEj7xjwN

— Sei 🔴💨 (@SeiNetwork) October 28, 2024

These developments have influenced the SEI token’s performance. Currently priced at $0.396, the SEI token has seen a 24-hour increase of 8.34%, with a volume-to-market cap ratio of 0.2416, indicating robust liquidity. 

The 14-day RSI sits at 48.79, a neutral point suggesting the token may trade sideways in the near future. Recent growth across the ecosystem underscores Sei’s evolving role in creating an accessible and functional blockchain environment.

2. Ethena (ENA)

Ethena’s token, ENA, has gained traction as more users adopt its synthetic dollar, USDe. The platform’s approach uses a delta-neutral strategy to keep USDe stable, drawing interest from the DeFi community. This mechanism, combined with the platform’s decentralized governance, has positioned USDe as a potentially stable digital asset, which in turn has positively impacted ENA. 

At press time, ENA trades at $0.3824, showing a 12% increase over the last 24 hours and a 6.69% rise over the past month. The token has strong liquidity, with its trading volume nearly half of its market cap, standing at approximately $1.05 billion. In the past 24 hours, ENA recorded a trading volume of $491.32 million, indicating active investor interest.

Ethena’s Relative Strength Index (RSI) is at around 61, suggesting moderate bullish momentum that has yet to reach overbought conditions. With the RSI below the overbought level of 70, there could be additional room for upward movement in the short term.

Furthermore, Coincodex projects ENA’s price could increase by approximately 227% to reach around $1.259 by November 2024. This forecast depends on sustained demand for USDe and continued interest in Ethena’s unique approach to stabilizing synthetic assets. 

3. Ondo (ONDO)

Ondo Finance is a decentralized finance (DeFi) project that aims to make institutional-grade financial services more accessible by combining traditional finance with blockchain technology. Through collaboration between the Ondo Foundation and Ondo Finance, its commercial partner, the project focuses on developing decentralized protocols and enabling the tokenization of real-world assets.

At the time of writing, ONDO trades at $0.7207, marking a 5.50% increase in the past 24 hours. This price movement is accompanied by a 24-hour trading volume of $140.79 million, reflecting a 180.68% spike that suggests increased trading interest. ONDO’s market cap is around $1 billion, indicating a significant position within the DeFi space. 

Moreover, market sentiment is currently neutral, with the Fear & Greed Index showing 69, indicating greed. Ondo’s presence on multiple blockchain explorers and high visibility contribute to its perception as a reliable entity within the DeFi space.

4. MultiversX (EGLD)

MultiversX is a blockchain protocol focused on scalability. It implements a full sharding system that covers network, transaction, and state layers. Sharding splits the network into smaller segments to manage data and transactions more efficiently. This setup allows MultiversX to support a high volume of decentralized applications and services.

The project describes itself as an ecosystem for the “new internet,” aiming to serve areas like decentralized finance, real-world assets, and the Metaverse. The platform reports its smart contract system can handle up to 100,000 transactions per second, with an average 6-second processing time and minimal transaction costs of $0.002. 

Nodo is an emerging prediction market platform that uses blockchain to cut out the middlemen and provide open access to event outcome forecasting.

Expanding on-chain tokenized markets, with MultiversX support currently in development. https://t.co/qCUb8DraZH

— Multiversᕽ (@MultiversX) October 22, 2024

Currently, MultiversX’s EGLD token is priced at $25.12, with a 24-hour trading volume of approximately $37.14 million and a market cap of $596.95 million, holding a 0.02% market dominance. The price increased by 4.92% over the past day, indicating some recent positive momentum. However, the overall sentiment remains cautious, with many traders and investors holding a bearish outlook. Still, with the Fear & Greed Index at 69 (Greed), sentiment could potentially shift as the market evolves.

EGLD has shown strong performance compared to its initial token sale price and has high liquidity relative to its market cap, making it accessible for larger trades with limited price impact. Its listing on major exchanges like Binance further supports trading activity and accessibility to a wider audience.

5. Crypto All Stars (STARS)

Crypto All Stars features an innovative feature called the MemeVault, which aims to transform the staking experience in the cryptocurrency market. This feature allows investors to stake multiple tokens within a single platform, streamlining the process and making it more accessible. 

The MemeVault operates on a multi-chain and multi-token model, utilizing the ERC-1155 standard. This standard enables the efficient management of different tokens within a single contract, enhancing the user experience by simplifying the staking process. This approach may attract a broader range of investors, as it combines various assets under one roof, making it easier for users to engage in staking activities.

Recent data indicates that there is significant interest in the Crypto All Stars project. The presale has raised over $2.8 million, showcasing early investor enthusiasm. Currently priced at $0.0015309 during the initial coin offering (ICO), the STARS token plays a crucial role in the platform’s staking mechanism. As the presale continues, many investors are closely monitoring the token, anticipating potential price increases that could enhance their returns.

Furthermore, the growing engagement on social media platforms reflects an increasing awareness and interest in the project. This traction positions STARS as one of the best crypto to buy now. 

Visit Crypto All Stars Presale

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