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As Bitcoin (BTC) holds to the north of $66,000, up 2.5% in the past 24 hours, and other major cryptocurrencies gain ground, crypto investors are scouring the altcoin markets for the best crypto to buy today.
Traditional asset markets stabilized on Monday as traders look ahead to Friday’s key US inflation data release. The SPX has bounced above 5,000, the DXY is going sideways around 106 and 10-year yields are flat at 4.6%.
Stabilization in the macro backdrop has allowed Bitcoin and major altcoins to continue their post-halving positive momentum.
Assuming macro doesn’t become a major near-term market headwind again, BTC could soon recover to recent highs.
That could mean a near-term upside of over 10% for the world’s largest cryptocurrency.
Post-halving miner sell pressure may be higher than usual as miners adjust to lower revenue. Some think that could prevent BTC from breaking fresh record highs in the coming months.
But, in the long run, the combination of lower BTC inflation and ongoing demand for spot Bitcoin ETFs is bullish.
Only 450 #bitcoin is mined daily.
For 64 of the past 70 trading days, Blackrock has taken in more than 450 BTC by itself.
Do with that information what you must.
— Julian Fahrer (@Julian__Fahrer) April 22, 2024
Add into the mix that the Fed is likely to begin cutting interest rates before the end of 2024.
The recipe for BTC hitting $100,000 in 2024 is there. For investors new to crypto, Bitcoin is definitely the best crypto to buy now. That’s not only because of its positive outlook.
It’s also the oldest, most trusted, most famous, most widely adopted, and most understood crypto in the market.
But investors looking to secure quick exponential gains will need to find smaller, lesser-known altcoin gems.
Here are some altcoins with strong momentum on Monday that could be the best crypto to buy now.
Best Crypto to Buy Now
Pepe (Pepe)
Pepe (PEPE) is pushing higher with a lot of momentum on Monday. The legendary meme coin was last up 15% in 24 hours, as per CoinMarketCap.
Pepe’s technical outlook could be about to take a turn for the better if it can confirm a bullish breakout above a downtrend.
Having already bounced nearly 70% from earlier monthly lows, Pepe could soon recover to recent highs near $0.000011.
That could mean swift 60% gains for PEPE. Hence, it could easily be the best crypto to buy now.
NEAR Protocol (NEAR)
Ethereum rival NEAR Protocol’s native token NEAR is up around 14% in the past 24 hours on Monday.
Last at $7, the cryptocurrency is eyeing a quick 3x rally back to record highs near $22.
#Near Protocol $NEAR flipped #Polygon $MATIC 👀 pic.twitter.com/F7aFGXJ6WX
— Ajay Kashyap (@EverythingAjay) April 22, 2024
With a market cap of just around $7.5 billion, 3-5x is not out of the question. That’s why it also ranks as potentially the best crypto to buy now.
Pendle (PENDLE)
Pendle (PENDLE), a future yield tokenization and trading protocol, is eyeing a retest of record highs on Monday.
PENDLE is up nearly 15x from last summer’s lows under $0.50. Its rally from its 2022 lows is even more impressive at over 200x.
As per CoinMarketCap, PENDLE’s 24-hour gains stand at around 13%, with its market cap near $1.6 billion.
That leaves plenty of room for 10x or more gains as the asset tokenization narrative gains ground.
With Pendle teaming up with Ethena, another fast-rising yield protocol, its TVL could soon jump further.
Excited to release two new updates for $ENA
Users can now deposit $ENA into @pendle_fi and receive 30x rewards per day up to an initial $100m cap
In addition, with the $ENA lock now almost filled at $200m, the cap on this pool has been increased to $300m with immediate effect pic.twitter.com/UDbvmfEGmU
— Ethena Labs (@ethena_labs) April 15, 2024
That potentially makes PENDLE one of the best crypto to buy today.
Alternative Crypto Investment Strategy to Consider – Presales
Investing in smaller, lesser-known altcoins is a great way to make a quick crypto profit.
However, investors looking to increase their risk profile shouldn’t neglect another highly profitable strategy: investing in new crypto ICOs.
Up-and-coming web3 start-ups often look to raise funds in their infancy by selling their native protocol token.
These sales are almost always conducted at a steep discount to the project’s potential. For example, most presales will sell their token at a price that gives them a market cap of $10-30 million.
If a good project gains traction, it can easily reach a market cap in the hundreds of millions. So, presale investors can often make as much as 10x or more gains.
Of course, investing in new crypto ICOs comes with many of the same risks as traditional start-up investing. The success of a project relies heavily upon the competency of management and execution.
With so many new crypto ICOs to choose from, getting started can be a daunting task.
Luckily, the experienced team at Cryptonews has already done a lot of digging. Here are 18 of their favorite projects:
See the 18 Cryptocurrencies
Alternatively, check out this video by Cryptonews’ Crypto Arjay, who goes through his top three presales.