The cryptocurrency market declined 1.13% during the last 24 hours as risk-off sentiment intensified amid the unwinding of leverage positions and macroeconomic uncertainty. This drawdown led to the market extending its 10.37% weekly decline.

Whole crypto derivatives open curiosity fell 8.7% to $80 billion in a single day, with perpetual buying and selling quantity down 24%. This got here on the again of a file $19 billion liquidation occasion on October 11, triggered by U.S. President Donald Trump’s risk of a 100% tariff on China. Following final week’s volatility, merchants are chopping their danger publicity, which has diminished speculative curiosity. The common funding charge for leveraged positions stays close to zero, reflecting muted demand for longs.

Right now’s Altcoin Season Idex studying of 28/100 and BTC Dominance studying of 58.83% counsel that the market is firmly in Bitcoin Season territory, and altcoins proceed to lag the apex crypto. The Altseaon index has dropped 60% over 30 days, as buyers are more and more rotating capital into BTC, favoring its relative stability over altcoins’ volatility. Alts are underperforming as a consequence of increased danger profiles.

Nevertheless, a number of altcoins have managed to outperform the broader market regardless of the detrimental sentiment. In line with our evaluation, the very best cryptos to purchase now are: Hana Community (HANA), Akedo (AKE), and KGeN (KGEN). Their respective rallies had been pushed by catalysts reminiscent of trade listings and airdrop momentum, ecosystem development, and technical rebound.

Greatest Cryptos To Purchase Right now: $HANA, $AKE, $KGEN

1. Hana Community (HANA)

The worth of HANA rose 33.52% during the last 24 hours, registering a pointy rebound from a 30-day decline of practically 70%. The token’s surge is in distinction with the 1.78% drop within the broader crypto market. HANA was listed on Binance Alpha on September 26, with the trade airdropping 270 HANA for eligible customers. This occasion triggered a short-term demand for the asset, as merchants sought to qualify for the airdrop. The 150.9% surge in every day buying and selling quantity confirms this sample – however post-airdrop selloffs are widespread for low-cap belongings like HANA.

KuCoin listed HANA on September 25, with the trade’s buying and selling bots and liquidity swimming pools driving a 592% spike in quantity to $59.3 million. New token listings usually entice speculative merchants, however HANA stays 78.5% beneath its 30-day excessive of $0.30. HANA’s 24-hour rally lacks elementary help, with critics declaring that there isn’t a practical product and the venture relied on aggressive KOL-led presales to extend its market worth.

Hana Community, which claims to be the “TikTok of Crypto”, faces criticism as a result of 51% of HANA’s provide is allotted to group incentives and 19% to the core staff. Whereas its RSI-14 studying of fifty.25 suggests impartial momentum, the detrimental month-to-month return (-69%) highlights low confidence. HANA should shut above its 7-day SMA ($0.055) amid rising promote stress from airdrop recipients and early buyers.

2. Akedo (AKE)

AKE rose 16.94% during the last 24 hours, outperforming the broader crypto market throughout that interval, whereas extending its 7-day rally to 25.56%. The token was listed on Binance, Kraken, and MEXC exchanges in August, boosting its liquidity. The KuCoin Highlight IEO raised $25 million with an 80x oversubscription charge, driving AKE’s 24-hour buying and selling quantity up 243.88% to $21.5 million. 

Change debuts assist increase a cryptocurrency’s accessibility, attracting each speculative merchants and long-term holders. The oversubscription of the IEO indicators sturdy institutional curiosity, with KuCoin’s value safety mechanism of shopping for again AKE if the worth falls beneath $0.0004, lowering post-listing promote stress. Akedo has allotted 33% of the AKE provide to price burning, 33% to stakers, and 33% to platform income, with over 2 million wallets taking part in staking following the token era occasion (TGE). Token burns cut back circulating provide, whereas staking locks liquidity. As Akedo is required to mint recent sport tokens for its launchpad, demand for AKE as a utility asset is predicted to develop.

AKE broke above its 7-day SMA ($0.00166) and 30-day SMA ($0.00159). Whereas its RSI-7 studying of 61.1 suggests bullish momentum with extra room for upside development, the MACD histogram stays detrimental. Quick-term merchants are focusing on the token’s resistance on the 23.6% Fibonacci resistance ($0.00183) – however a weak MACD convergence indicators potential value pullbacks if buying and selling quantity stalls. It will likely be key for AKE to carry above $0.00166 to maintain bullish momentum amid a broader market uncertainty.

3. KGeN (KGEN)

KGEN rose 19.16% previously 24 hours, outperforming the broader crypto market’s 1.93% dip. On October 7, crypto trade Gate launched KGEN on its futures and margins buying and selling platforms with 50x leverage, ensuing within the token’s every day quantity surging 73% to $88.6 million – highlighting elevated dealer curiosity. Derivatives listings usually enhance liquidity and speculative exercise for cryptocurrencies, and the power to brief or leverage KGEN is more likely to have amplified its volatility. Nevertheless, bullish sentiment dominated its market as a consequence of a low circulating provide.

X account ‘SolPub2’ just lately posted a thread highlighting KGeN’s This autumn 2025 roadmap, which confirmed potential AI integrations and staking rewards for customers. The venture has already secured $13.5 million in funding from crypto enterprise capitalists, together with Prosus Ventures and Leap Crypto, in 2025. Whereas a venture roadmap is a optimistic catalyst, KGEN is at the moment priced 54% beneath its 30-day excessive of $0.636 from October 7. KGeN’s proof-of-gamer ecosystem additionally faces regulatory scrutiny, affecting its potential utility within the gaming market.

KGEN broke above its 7-day SMA ($0.199) and EMA ($0.219), with the RSI-7 studying of 46 suggesting extra room for higher value motion earlier than hitting overbought ranges. This breakout above short-term averages could have triggered algorithmic shopping for for KGEN – however its resistance lies close to the 30-day SMA ($0.30), aligning with the 54% month-to-month decline. It’s key for KGEN to maintain its value above $0.25 if the broader crypto market’s Worry & Greed Index sentiment persists within the “Worry” zone (32).

Last Ideas on Greatest Cryptos to Purchase Now (10/16): $HANA, $AKE, $KGEN

The rallies of at this time’s best-performing altcoins got here regardless of the broader crypto market dealing with a downtrend. Whereas $HANA, $AKE, and $KGEN are displaying bullish momentum and will supply buyers large ROI within the short-term, technical indicators are in murky waters, with issues over the Hana Community’s tokenomics, KGeN’s regulatory scrutiny, and the impression of buyers’ insecurity in altcoins on the Akedo ecosystem looming massive.

Merchants have taken a cautious strategy following the $19 billion liquidation occasion on October 10, preferring Bitcoin’s market dominance and relative stability over altcoins’ volatility. Diminished speculative curiosity has negatively affected the altseason narrative, as buyers are lowering their publicity to risk-on belongings.

Readers ought to notice that cryptocurrencies are extremely speculative and risky belongings, and it is suggested that you just conduct correct due diligence and search skilled opinion earlier than investing resolution. Moreover, the contents of this text are for informational functions and shouldn’t be construed as funding recommendation.