Best Cryptocurrencies to Invest in Right Now May 5 - Akash Network, Render, Ontology

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By assessing trends and market movements, InsideBitcoins regularly offers insights into the top cryptocurrencies to purchase based on their recent price performance.

Investing in cryptocurrencies can be tasking due to the numerous options available. However, some tokens stand out for their advanced technology and unique features. If you want to invest in promising crypto tokens, consider exploring Akash Network, Render, and Ontology. These cryptocurrencies have been generating significant buzz thanks to their recent market performance and developments.

Best Cryptocurrencies to Invest in Right Now

Akash Network is currently trading at $4.80, showing a 9.55% increase in value as one of the top gainers in the market today. Meanwhile, Hedera has seen a 0.31% rise over the past 24 hours, with its price hovering around $0.1087, as reported by CoinMarketCap.

Additionally, Dogeverse has successfully secured over $13 million in funding in anticipation of its impending launch. In the global market news, Bitcoin surged sharply toward the $62,000 mark as renewed bullish sentiment swept the cryptocurrency markets.

1. Dogeverse (DOGEVERSE)

Dogeverse is aiming to unite doge investors across multiple blockchains and has successfully raised over $13 million in preparation for its upcoming launch. This funding is intended to support a multi-chain ecosystem that promotes community engagement and rewards token holders.

The project is structured into five phases, two of which have already been completed. The initial phases involved launching the project’s website and establishing social media channels, followed by the commencement of a presale which is nearing its conclusion.

🚀 We Did It! $13 Million. 🤯
$DOGEVERSE the first #Doge #Presale spanning #Ethereum, #BNB Chain, #Polygon, #Solana, #Avalanche, and #Base…and it’s showing!
Cosmo is wagging his tail in appreciation, and so are we! 🌍🐕
The #Presale is still ongoing 💥 #MemeCoinSeason pic.twitter.com/GIUWSBCYcH
— DogeVerse (@The_DogeVerse) May 2, 2024

Moving forward, Phase 3 will allocate presale funds toward marketing efforts to enhance brand visibility. Dogeverse also plans to seek listings on prominent cryptocurrency comparison platforms such as CoinMarketCap and CoinGecko to facilitate easier evaluation by potential investors.

In Stage 4, the project will pursue listings on decentralized exchange (DEX) platforms and subscribe to DEX-specific research and analytical tools. The final phase will involve listing on centralized platforms and introducing additional community incentives.

Moreover, Dogeverse has attracted investors through its staking mechanism, where token holders are rewarded for maintaining their holdings. Currently, stakers can earn an annual percentage yield (APY) of 78%, with over 20 billion tokens already staked.

Visit Dogeverse Presale

2. Akash Network (AKT)

Akash Network has seen a significant rise in value, currently trading at $4.80. Today, it stands out as one of the top gainers in the market, with a 9.55% increase in value. Notably, it has consistently traded above its 200-day moving average, indicating sustained positive performance.

The recent surge in Akash’s value can be attributed to its unique features. By allowing users to deploy various cloud-native applications, Akash aims to offer improved price performance and scalability compared to traditional cloud services. Moreover, integrating existing cloud applications enables businesses to tap into decentralized computing easily.

Furthermore, AKT’s success is also reflected in its recent listing on South Korea’s Upbit exchange, which led to a substantial increase in its price, reaching approximately $4.84 by April 2024. This surge highlights the growing interest in the platform’s capabilities.

Earlier today, Akash successfully upgraded to Mainnet 11.
The upgrade was completed in less than 5 minutes. Thank you to all Akash Validators for working quickly to ensure a smooth upgrade.
Mainnet 11 includes:
> Updates to AuthZ to improve management and tracking of authorized… pic.twitter.com/0TfuvRbqoW
— Akash Network (@akashnet_) May 2, 2024

Similarly, Akash’s recent upgrade to Mainnet 11 introduces enhancements aimed at streamlining user experiences. Updates to its authorization system (AuthZ) and deployment grant processes seek to improve management and simplify operations for users deploying applications on the network.

The bullish sentiment surrounding Akash is further supported by its consistent yearly growth, with a remarkable surge of 1,500%. This momentum highlights the increasing appeal of decentralized cloud solutions within the broader blockchain ecosystem.

3. Render (RNDR)

RNDR remains a notable AI cryptocurrency with significant growth bolstered by recent developments. This includes its integration with Coinbase, which has caught the attention of investors and signaled a potential uptrend in price.

Over the past 24 hours, the token has increased 7.36%, reaching $9.32. According to CoinMarketCap, its market cap now exceeds $3 billion. Moreover, market sentiment towards RNDR is currently optimistic, with a Fear & Greed Index of 69 indicating Greed. The token has surged by an impressive 351% over the past year, outperforming 86% of the top 100 cryptocurrencies, including Bitcoin and Ethereum.

Crypto analyst Doc Crypto suggests that Render could surpass $9.38 if Bitcoin’s value rises steadily. The technical analysis supports this outlook, as the token is trading significantly above its 200-day Simple Moving Average (SMA) of $2.68, currently at 247.69% above this benchmark.

In addition, Render is trading above its 50 and 100-day Exponential Moving Averages (EMAs), with ten technical indicators showing positive signals. Experts anticipate RNDR to potentially reach $10.76 before the end of Q2, making it one of the best crypto to buy now.

4. Ontology (ONT)

Ontology is focused on enhancing trust, privacy, and security in Web3, aimed at revolutionizing digital identity and data solutions. By leveraging decentralized technologies, Ontology seeks to establish a foundation prioritizing user privacy and regulatory compliance.

It also offers secure access to the Web3 ecosystem for both individuals and enterprises. In recent market analysis, Ontology’s sentiment remains bullish, with the Fear & Greed Index currently showing a reading of 69 (Greed). The token trades near a crucial supply zone, with buyers eyeing a potential breakthrough above its all-time high of $0.500.

Analysts predict potential bullish movements with targets around $0.650 and $0.700 in upcoming trading sessions. Over the past year, Ontology’s price has surged by 62%, signaling strong market performance. Additionally, the token’s price trades above its 200-day simple moving average, reflecting positive market sentiment.

Ontonuats! 👨🚀
Ontology & @SugarKingdomNFT are teaming up to discuss the recent launch of the ONT DID Fund plus The Future of Web3 Gaming.
Join us Thursday, May 2nd, 📅 2pm UTC ⏰ pic.twitter.com/AHnRXDIQiz
— Ontology #BUIDL4Web3 (@OntologyNetwork) April 30, 2024

Recent trends show a notable 60% of trading days in the last month as positive (green). Ontology’s robust liquidity, backed by a substantial market cap, highlights its attractiveness to investors and traders. Analyst consensus remains optimistic, suggesting further gains with price targets potentially reaching $0.600 soon.

5. Hedera (HBAR)

Hedera has increased by 0.31% over the past 24 hours and is trading around $0.1087, according to data from CoinMarketCap. Over the past year, the token has seen an 88% price increase, outperforming around 51% of the top 100 cryptocurrencies during this period. Moreover, the overall sentiment towards HBAR’s price prediction leans bearish, while the Fear & Greed Index is 69 (Greed).

Currently, Hedera is trading above its 200-day simple moving average, suggesting a positive trend in its price movements. The coin also boasts high liquidity due to its market capitalization. Earlier this month, HBAR experienced a spike, reaching as high as $0.18, driven by optimism surrounding a potential partnership with BlackRock for blockchain-based fund launches.

#Hedera is proud to be partnering with the #Blockchain Acceleration Foundation @TheBAFNetwork for the BAF University Summit at @consensus2024 by @CoinDesk this year, bridging academia and industry through events, research, and educational initiatives.https://t.co/8VlUf3fwdt pic.twitter.com/tXULO8Oufu
— Hedera (@hedera) April 29, 2024

However, subsequent clarifications revealed that BlackRock had no commercial ties with Hedera and was not involved in the tokenization decisions of other entities on the Hedera platform. As a result, HBAR’s price retraced to around $0.1200, although it still maintains a slight 0.31% gain over the past day and a 2.16% gain over the past week.

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