Altcoin
Block’s Bitcoin Mining Access Initiative: Potential Boost for Top Altcoins
The bulk payments company, led by Jack Dorsey, is planning to do so expand Bitcoin mining efforts. The platform aims to contribute to this goal by developing a comprehensive mining system to increase accessibility. Block specifically wants to solve challenges like expensive rigs and unpredictable deliveries by offering easy-to-use chips and mining systems.
Furthermore, the plan extends to decentralizing mining hardware and improving user experience, thus also supporting renewable energy mining projects. This strategic move is poised to improve the stability and security of the Bitcoin network – a huge step towards attracting more investors to Bitcoin thanks to a stronger infrastructure and greater market confidence.
While traders and institutional investors eagerly await this significant trend in the cryptocurrency market, there are opportunities for more savvy investors to capitalize on top altcoins such as KangaMoon (KANG), Bitcoin (BTC), Chainlink (LINK), Floki (FLOKI ) and Gala (GALA). These altcoins not only represent promising investment options, but are pioneers in the evolving cryptocurrency landscape.
The best altcoins to buy this year to prepare for Bitcoin’s bullish influence
The increase in Bitcoin mining ambitions is indeed a huge step forward in attracting substantial growth for Bitcoin itself and for altcoins in the market. In any case, these are the top crypto picks that will prove indomitable in this year’s volatility, but instead capitalize on Bitcoin’s potential growth.
Kanga Luna (KANG)
Forging a distinct reputation in the meme coin market, KangaMoon (KANG) has gained considerable popularity. In the fifth pre-sale phase, the project sold over 70% of pre-sale tokens and raised nearly $6 million throughout the pre-sale campaign, aiming to reach the $7 million funding milestone before the end of the campaign.
This impressive performance is also evident in the price of the native KANG token, which has increased by 290% from an initial $0.005 to $0.0196 at the current stage. Interestingly, it is speculated to reach $0.5 before the third quarter of this year. Meanwhile, this prediction is largely based on the expected listing of the KANG token on top-tier exchanges within the cryptocurrency market this year.
At a fundamental level, KangaMoon is focused on the play-to-earn gaming industry, which is expected to grow to more than $15 billion by 2030. KangaMoon also plans to launch an immersive ecosystem called “Kangaverse” where players users will use KANG tokens as their primary in-game currency, making it easy to purchase, upgrade and participate in battle contests.
The KangaMoon token is already standing out for its community-focused strategy as it offers free tokens to active members who comment and share its social media posts. Finally, the recent collaboration with RaidSharkBot, a community engagement platform, is poised to attract even more members, immersing them in a more enjoyable experience within the KangaMoon ecosystem, with cash prizes up for grabs.
Bitcoin (BTC)
Block Payment’s positive contribution to Bitcoin mining efforts will certainly increase mining activity which could in turn influence Bitcoin network dynamics such as hash rate and mining difficulty. Furthermore, the positive sentiment surrounding Block’s move could increase investor confidence in Bitcoin (BTC), potentially increasing demand and positively impacting market dynamics.
Bitcoin, being the pioneer and best-known cryptocurrency, is often referred to as digital gold. Its growth potential lies in the continued adoption of the native BTC token as an inflation hedge, store of value, and growing acceptance in mainstream finance and investment portfolios.
Therefore, developments like the one mentioned above can contribute to the ecosystem surrounding Bitcoin, shaping market sentiments and influencing its long-term trajectory. Although the token has seen notable price drops to around $61,000 after reaching its all-time high above $71,000, the market still strongly expects further BTC valuation this year.
Shirt (LINK)
Chainlink is a decentralized oracle network that connects smart contracts with real-world data. The platform notably allows smart contracts to interact securely with external data sources. AS The price of Chainlink maintains a nearly 80% gain over the past year, maintains a bullish outlook, and may end up allowing the token to recover from its monthly and weekly loss. Breaking above $20 this year was a significant feat for Chainlink, so we can expect to see more gains this year considering the time left and considering its strong position among the top altcoins.
Simply put, Chainlink’s surprising growth potential this year comes from its crucial role in enabling applications in the DeFi market, NFTs, and various other blockchain use cases. Since this can potentially stimulate demand for its services and tokens, Chainlink also expects to be a strong follower of Bitcoin’s influence.
Floki Inu (FLOKI)
Floki Inu (FLOKI) is a meme-inspired cryptocurrency that has gained popularity due to its community-driven nature and marketing efforts. She has a strong social media presence and attracts traders interested in meme coins. Last year alone, the FLOKI coin managed to rise more than 1500% and reach a peak resistance price of $0.0030. Now that Floki price is facing a notable decline, it still manages to reflect a 336% increase year to date.
Regardless, its potential for greater success will come from how much attention, support and adoption its NFT metaverse and gameplay called “Valhalla” gets. While volatility, market sentiment, and speculative trends in the meme coin market may further influence Floki, the token is still set to attract huge profits as long as Bitcoin regains momentum.
Gala (GALA)
Gala (GALAG) is a blockchain platform focused on games and NFTs, offering tools for developers to create and monetize games and virtual assets. The current boom in the gaming industry and the growing adoption of blockchain and NFTs within gaming ecosystems is one factor that could drive Gala’s growth this year. THE Gala price it has already started to move again this year, at one point recording a significant increase above $0.075.
Currently the Gala token has started another decline even below its weekly and monthly support, but its ecosystem and further partnerships with game developers could potentially increase demand for using its token as the platform develops expands. Fortunately, Gala has managed to regain its momentum this year after long-term price stagnation. This means it could be among the best cryptocurrencies to buy this year.
What are the chances of KangaMoon taking over the meme coin market?
KangaMoon is truly a sight to behold, especially in the meme coin space. The meme coin market is home to only a few tokens with use cases, let alone the availability of tokens with more incentives and utility like KangaMoon.
The metaverse-like P2E platform offered by KangaMoon, along with its various SocialFi features that have never been seen among meme coins, is more than enough to shake up and perhaps topple most meme coin giants like Digecoin and Shiba Inu, this year.
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