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Joel Frank
Author
Joel Frank
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Why Trust Cryptonews
As major cryptocurrencies struggle in wake of last night’s US Presidential debate that saw Democrat nominee Kamala Harris seemingly claim victory, and in wake of the latest US inflation numbers that have been interpreted as solidifying the chances of a 25bps rate cut from the Fed next week, investors are asking what might be the best crypto to buy today.
Bitcoin (BTC), Ethereum (ETH), BNB (BNB) and Solana (SOL) were all flat/relatively little changed on the session.
BTC dipped as low as the mid-$55,000s on Wednesday, but was last trading around $57,000, clinging on to weekly gains of around 4%.
Most of these major cryptos remain at or close to multi-month range lows.
For dip buyers then, any of these major coins might be the best crypto to buy now.
But some smaller and lesser-known altcoins might be a better bet.
If the market does rebound back towards range highs, some smaller and lesser-known altcoins might significantly outperform the likes of BTC.
Here are some strong performers on Wednesday that might be the best crypto to buy now.
Best Crypto to Buy Now – Which Are They?
Up 9% in the past 24 hours per CoinMarketCap, Internet Computer (ICP) is the best performer in the top 100 cryptos by market cap.
ICP, last at $8.72, probed its late August highs around $9 on Tuesday and Wednesday.
A break above here could see it quickly run back higher towards July highs and the 200DMA around $11.
With ICP having broken a downtrend from the March highs on Tuesday, a return to yearly highs above $20 is a possibility.
The prospect of quick 2x gains means ICP could be the best crypto to buy today.
DeFi stalwart Aave (AAVE) and much-hyped decentralized machine learning network Bittensor (TAO) are the next two best-performing cryptos in the top 100 by market cap, up 5% and 3% in the past 24 hours.
AAVE hit fresh highs for the year above $158 on Wednesday and has been a major outperformer recently.
In fact, its 56% gain in the past 30 days means it is the best performer in the top 100 cryptos by market cap over this time period.
With its industry-leading TVL of nearly $11 billion per DeFi Llama, Aave looks set to remain an important DeFi market leader.
AAVE could easily more than 4x to return to its 2021 record highs above $660 this bull market.
It is certainly a candidate for best crypto to buy now.
TAO, meanwhile, was last trading around $286, up substantially this week, but still stuck well within recent ranges.
Its longer-term technical picture isn’t looking particularly bullish, suggesting it might not be the best crypto to buy today.
Better Alternative to Consider?
Analysts looking for the best crypto to buy now might also want to consider getting involved in crypto presales.
Presales allow investors to get into high-potential crypto projects early and at highly discounted valuations.
They are high risk than the above-mentioned coins. But they also have much higher appreciation potential.
Analysts at Cryptonews.com keep a close eye on the presale market, and here are some of their top picks right now.
19 Best Crypto Presales to Invest In Now
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
