Be[In]Crypto presents its top 6 best altcoins for the month of May

Be[In]Crypto has selected six altcoins that offer interesting events scheduled for the month of May.

Kava.io (KAVA)

  • Current price: $ 4.22
  • Market value: $ 769 million
  • Market value ranking: # 88

Kava.io is a decentralized financing platform (DeFi) for lending. In addition to loans, it allows its users to invest and generate profits. The platform also supports interactions between different channels. Its original KAVA token is used to secure the platform.

The launch of the KAVA 1.0 mainnet will take place on May 10th. This will be the full launch of the Kava network. This will allow developers to build in the Cosmos and Ethereum ecosystem with seamless interoperability.

Subsequently, the ETH bridge will go live later this month, connecting thousands of ERC-20 assets to the KAVA network and vice versa.

Finally, liquid staking will be integrated into the network by the end of the month.

In terms of price action, the KAVA token has fallen since it broke below a rising guideline on April 30 (red arrow).

Although it jumped from the $ 4.07 support zone, it shows no bullish signs.

KAVA's fall
Chart After TradingView

Harmony (ONE)

  • Current price: $ 0.082
  • Market value: $ 994 million
  • Market value ranking: # 73

Harmony is a blockchain platform that allows the creation of decentralized applications (dApps). Its unique character comes from its random state hardening protocol, which significantly increases the speed of block creation while reducing the validation time of nodes.

To secure the protocol, Harmony uses a verifiable random feature (VRF). The platform’s native token is ONE.

Harmony will host many events and conferences in May, including the DeFi Alliance Cohort.

The price action for ONE is bearish as the token moved below a long-term falling parallel channel. The trend can not be considered bullish until the price has regained this line.

A token channel
Chart – TradingView

Algorand (ALGO)

  • Current price: $ 0.59
  • Market value: $ 3.98 billion
  • Ranking by market value: # 31

Algorand is a blockchain network that supports various applications and aims to be secure, scalable and efficient. It works on a Proof of Stake (PoS) protocol. Its first coin offering (ICO) took place in June 2019, and the mainnet was released the following month.

ALGO altcoin has been listed on the FTX Exchange on April 26th. However, this did not have a positive effect on the price. On the contrary, ALGO’s price broke below the $ 0.70 horizontal support zone two days later, dropping to a low of $ 0.53 on April 30th.

The $ 0.70 range should now act as resistance.

Fall of ALGO
Chart – TradingView

Astar (ASTR)

  • Current price: $ 0.145
  • Market value: $ 586 million
  • Ranking by market value: # 222

Astar is a dApp hub based on the Polkadot blockchain. It aims to convert to a multi-chain smart contract platform that will ultimately support various virtual machines and blockchains. Knowing that Polkadot does not support smart contracts, Astar aims to become the para-chain system that will allow developers to create projects in the Polkadot ecosystem.

About 15 new projects will be launched this month, including Astar farm, AVAUL and KAGLA.

However, the price of the ASTR token has been declining since it reached a record high of $ 0.338 on April 10th. So far, it has fallen by 58%. There are no bullish reversal signs in place yet.

Fall in ASTR
Chart – TradingView

Electra Protocol (XEP)

  • Current price: $ 0.00065
  • Market value: $ 11.46 million
  • Ranking by market value: # 883

The Electra protocol is an open source platform that uses proof-of-stake type consensus. Its original cryptocurrency is XEP, while its flagship product is Electapay.

Electapay is a complete payment solution that offers low transaction fees as well as almost instant transactions and impeccable security.

This month, Electra Protocol will announce a partnership with a crypto game projectand will publish its portfolio.

The price action shows that XEP is within the $ 0.00065 support zone, but has not yet shown any signs of a bullish reversal.

XEP support
Chart – TradingView

Mist (MIST)

  • Current price: $ 0.061
  • Market value: $ 3.45 million
  • Ranking by market value: # 1252

Mist is a play-to-earn (P2E) non-fungible token (NFT) ecosystem powered by Binance Smart Chain (BSC). The game’s utility token is MIST, and is used to perform various actions in the game.

The pre-alpha version of the game will be released on May 9th.

The price of the MIST token has been falling inside a falling wedge since May 2nd. The wedge is considered a bullish pattern, which means that a price movement above it would be likely.

In addition, MIST is approaching the support level of 0.786 Fibonacci retracement located at $ 0.053, which supports the possibility of a rebound.

MIST Bevel
Chart – TradingView

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