Best Altcoins to Buy Today 16th January – MEMAG, FXS, FGHT, LRC, CCHG, MANA, RIA, SAND
The cryptocurrency market has witnessed a 1% rise in value in the past 24 hours, with its total cap reaching $1.02 trillion after a very strong weekend. This figure represents a 17% rise in a week and a 21% gain in a month, as improved US inflation data and other welcome macroeconomic indicators suggest the beginning of the end for 2022’s global downturn.
Even with the market-wide increases of the past few days, some coins have done better than others. This articles collects them into a list of the best altcoins to buy today, including a number of very promising new tokens that are currently holding their respective presales.
Meta Masters Guild (MEMAG)
Having launched its presale last week, Meta Masters Guild has raised just over $250,000, a figure which suggests that the cryptocurrency market has already gained confidence in the play-to-earn gaming platform.
For the uninitiated, Meta Masters Guild is a mobile-focused gaming guild that will develop a range of Web3 and play-to-earn games. Its first title, Meta Kart Racers, is due to launch in the third quarter of the year, from which point on it will preside over a steady stream of future releases.
Its native token, MEMAG, will be used for governance purposes, as well as for staking and for purchasing items and NFTs. Its sale will have a total of seven stages, with the first — and current — stage offering 1 MEMAG for $0.007.
Hover, this price is due to increase by 42% in the next four days, giving investors only limited time if they want to make the biggest possible profit from the sale. They can participate by heading over the official Meta Masters Guild website and connecting their Wallet Connect or MetaMask wallets.
Frax Share (FXS)
One of the most recent entries into the top-100 cryptocurrencies by market cap, FXS has risen by an impressive 31% in a day. At $8.76, it’s also up by 53% in a week, 97% in a fortnight, and 70% in a month, although the Ethereum-based governance token is down by 79% compared to its record high of $42.80 (set in January 2022).
FXS’ indicators reinforce the suspicion that it’s currently enjoying a strong breakout rally. Not only has its relative strength index (purple) risen above 80 in the past few days, but its 30-day moving average (red) is on the cusp of surmounting its 200-day (blue), something which usually signals a very positive shift.
As the native token of the decentralized lending platform Frax Finance, FXS is benefitting from growth in adoption of the latter. In particular, Frax Finance has witnessed growing usage of its staking service for ETH, with the frxETH token users receive in return for ETH becoming popular as a form of liquidity on (decentralized exchange) Curve.
Given that Frax’s ETH staking platform was launched only in October, expect it — and FXS — to continue growing in the near future.
Fight Out (FGHT)
Fight Out (FGHT) is a move-to-earn platform that will mix real-life workouts with Web3 when it launches in the second quarter of the year. It will track and reward a much wider range of workouts than earlier M2E platforms, including boxing, weightlifting and yoga, while also offering a range of in-app and IRL courses at its own branded gyms.
Its token sale opened in December and has already raised over $2.9 million, with 1 FGHT currently selling at $0.0166. The sale is due to end by Q2 2022, which is when FGHT — and ERC-20 token — will list on exchanges.
At $0.278754, LRC has risen by 11.5% in 24 hours, as well as by 30% in a week. On top of this, the layer-two coin is up by 47% in a fortnight and by 30% in a month, while remaining 92% down from its ATH of $3.75 (set in November 2021).
LRC’s indicators show two things: 1) it has gained serious momentum in the past few days, with its RSI now topping 80; and 2) the fact that its 30-day average is still below its 200-day means its current rally still has plenty of room left to continue.
As one of the biggest layer-two scaling networks for Ethereum, LRC is rallying largely because it needs to make up for lost ground and correct its overselling over the past year. Indeed, with its total value locked in at $105 million (which is more than Cardano’s), it’s behind only Arbitrum, Optimism and dYdX in terms of size (according to L2BEAT).
More broadly, Loopring has seen some excellent adoption over the past year, with Gamestop choosing the network to launch its very own NFTs in July.
Aimed at the growing ranks of ESG investors in crypto, C+Charge (CCHG) is a peer-to-peer payment network for electric vehicle (EV) charging stations. Running on BNB Chain, it aims to use blockchain and crypto to democratize access to carbon credits, with its native CCHG set to be used within its network by EV owners to pay to charge their vehicles.
As part of its platform, C+Charge will reward users with NFT-based carbon credits for charging their EVs at its stations, giving people an incentive to go green. It has also already signed partnershps with Flowcarbon and with Perfect Solutions Turkey, adding 20% of the EV chargers in Turkey to its network. This testifies to the seriousness of its intent, and of how quickly it could end up growing when it launches later this year.
After FXS, MANA is the best-performing cryptocurrency in the top 100 today. At $0.679013, it has risen by 21% in 24 hours and by 80% in a week, while also being 100% in a month.
MANA’s indicators suggest an ongoing rally, with its 30-day average still waiting to rise above its 200-day before the current upwards movement begins to reverse.
MANA is rallying because it has been oversold over the past 12 months, with the coin still arguably very undervalued relative to its fundamentals. It remains one of the biggest ‘metaverse’ platforms in the world, with around 8,000 daily active users, according to its own figures.
Recent weeks have brought a range of new features for Decentraland users, including upgrades to avatars, user profiles, and friend request mechanisms. This all helps to make the platform more user-friendly, and when combined with Decentraland’s many recent partnerships, it was only really a matter of time before it began rallying again.
Calvaria is a new play-to-earn battle card game that’s now in the final stage of its token sale, having raised nearly $2.8 million so far. Only 11% of the available RIA coins remain, with the token due to list on such exchanges as LBANK Exchange and BKEX Global in the next few weeks.
Set to be playable on PC and smartphone, Calvaria interestingly doesn’t require any cryptocurrency to play, although it does also include numerous play-to-earn elements. This makes it more accessible than pre-existing blockchain-based games, and could open it up to a much wider audience.
The game itself is due to launch in Q2 2023, with its world set in a mythical afterlife. Characters will be animated in full 3D, while players will have the ability to earn and upgrade a wide ecosystem of collectible cards, which will also be used to battle with different factions in the game’s universe.
The Sandbox (SAND)
SAND has gained by 10% in the past day, reaching $0.693456. This marks a 40% gain in a week and a 78% rise in a fortnight, with the metaverse coin also up by 47.5% in the last 30 days.
To a large extent, it seems that the Sandbox is rallying for much the same reason why Decentraland is rallying. Namely, there’s an expectation that, with Meta (and other big companies) pumping so much money into the metaverse, pre-existing metaverse platforms such as the Sandbox (and Decentraland) are going to be among the future’s big winners.
And SAND is arguably better positioned than MANA to ride the growing metaverse wave, seeing as how the Sandbox reportedly has more active users than Decentraland. It has also attracted more outside investment than its main rival, with the backing of Softbank (among others) suggesting that the big money has backed it to succeed in the not-too distant future.