Block payment company, led by Jack Dorsey, is planning to expand Bitcoin mining efforts. The platform aims to contribute to this goal by developing a comprehensive mining system to increase accessibility. Block particularly wants to solve challenges like expensive rigs and unpredictable delivery by offering easy-to-use mining chips and systems.
Additionally, the plan extends to decentralizing mining hardware and improving user experience, thereby supporting renewable energy mining projects as well. This strategic move is poised to enhance the stability and security of Bitcoin’s network security and stability— a huge step towards attracting more investors to Bitcoin due to a stronger infrastructure and improved confidence in the market.
As traders and institutional investors eagerly await this significant trend in the crypto market, there are opportunities for savvy investors to capitalize on top altcoins like KangaMoon (KANG), Bitcoin (BTC), Chainlink (LINK), Floki (FLOKI), and Gala (GALA). These altcoins not only represent promising investment options, but are pioneers within the evolving cryptocurrency landscape.
Top Altcoins To Buy This Year To Prepare for Bitcoin’s Bullish Influence
The increase in Bitcoin mining ambitions is indeed a huge step to attracting substantial growth to Bitcoin itself and altcoins in the market. In any case, these are top crypto choices that will prove indomitable amid this year’s volatility, but instead, capitalize on Bitcoin’s potential growth.
KangaMoon (KANG)
Creating a distinguished reputation for itself in the meme coin market, KangaMoon (KANG) has been gaining significant traction. In the fifth presale stage, the project has sold over 70% of presale tokens and raised nearly $6M throughout the presale campaign, while aiming to hit the $7M funding milestone before the end of the campaign.
This impressive performance is also evident in the native KANG token price which has increased by 290% from an initial $0.005 to $0.0196 in the current stage. Interestingly, there are speculations that it will hit $0.5 before the third quarter of this year. Meanwhile, this prediction is largely based on the anticipated listing of the KANG token on top-tier exchanges within the crypto market this year.
At the fundamental level, KangaMoon is focused on the play-to-earn gaming sector, which is projected to grow to above $15B by 2030. KangaMoon also plans to launch an immersive ecosystem dubbed “Kangaverse” where users will utilize KANG tokens as the primary in-game currency, facilitating purchases, upgrades, and participation in battle contests.
The KangaMoon token is already standing out with its community-focused strategy as it is offering free tokens to active members who comment, and share its social media posts. Finally it’s recent collaboration with RaidSharkBot, a community engagement platform, is poised to attract even more members while submerging them into a more enjoyable experience within KangaMoon’s ecosystem, with cash prizes for grabs.
Bitcoin (BTC)
The positive contribution to Bitcoin mining efforts by Block Payment is definitely going to increase mining activity which could in turn affect Bitcoin’s network dynamics like hash rate and mining difficulty. Additionally, the positive sentiments around Block’s move could boost investor confidence in Bitcoin (BTC), potentially driving up demand and impacting market dynamics positively.
Bitcoin, being the pioneer and most well-known cryptocurrency, is often referred to as digital gold. Its potential for growth lies in the continued adoption of the native BTC token as a hedge against inflation, store of value assets, and growing acceptance in traditional finance and investment portfolios.
Hence, such developments like one referenced earlier can contribute to the ecosystem surrounding Bitcoin, shaping market sentiments and influencing its long-term trajectory. Although the token has seen significant drops in price to around $61,000 after hitting its ATH above $71,000, the market is still strongly anticipating a further BTC evaluation this year.
Chainlink (LINK)
Chainlink is a decentralized oracle network that connects smart contracts with real-world data. The platform particularly enables smart contracts to interact with external data sources securely. As Chainlink’s price holds up nearly 80% gain in the past year, it maintains a bullish outlook and may end up allowing the token to recover from its monthly and weekly loss. Moving 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 spot among top altcoins.
In a nutshell, the potential of Chainlink growing astoundingly this year stems from its crucial role in enabling applications in the DeFi market, NFTs, and various other blockchain use cases. As this can potentially drive demand for its services and tokens, Chainlink is also anticipating to be a strong follower of Bitcoin’s influence.
Floki Inu (FLOKI)
Floki Inu (FLOKI) is a meme-inspired cryptocurrency that gained popularity due to its community-driven nature and marketing efforts. It has a strong social media presence and attracts traders interested in meme coins. Last year alone, the FLOKI coin was able to rise up by over 1500% and reach a peak resistance price of $0.0030. Now that Floki price is facing a noticeable decline, it still manages to reflect a 336% rise YTD.
Regardless, its potential for more success will come from how much attention, support, and adoption that its NFT and gameplay metaverse named “Valhalla”. While volatility, market sentiment and speculative trends from the meme coin market may further influence Floki, the token is still bound to attract huge profits as long as Bitcoin regains momentum again.
Gala (GALA)
Gala (GALAG) is a blockchain platform focusing on gaming and NFTs, offering tools for developers to create and monetize games and virtual assets. The current booming gaming industry and the increasing adoption of blockchain and NFTs within gaming ecosystems is one factor that could propel Gala growth this year. The price of Gala already began to move again this year, making a significant rise above $0.075 at some point.
Currently Gala token has started another decline even below its weekly and monthly support, but its ecosystem and further partnerships with game developers could potentially drive demand for its token usage as the platform expands. Fortunately, Gala was able to pick up some pace this year after a long-term price stagnancy. This signifies its potential to be among top cryptos to buy this year.
What Are The Chances of KangaMoon Taking Over The Meme Coin Market?
KangaMoon is indeed a spectacle to behold, especially in the meme coin space. The meme coin market houses only a few tokens with use cases not to mention the availability of tokens with more incentives and utility like KangaMoon.
The metaverse-like P2E platform that KangaMoon offers, coupled with its various SocialFi features which has never been witnessed among meme coins is more than enough to shake up and possibly overthrow the majority of meme coin giants like Digecoin and Shiba Inu, this year.
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