Bitcoin
Best crypto to buy now
The crypto market is heating up, with the global market capitalization increasing by 12% in the last month. So what is the best crypto to buy now?
The answer, as always, is that it depends. Your risk appetite, goals, and the balance of your overall portfolio will likely inform your choice. We can, however, show you some interesting options!
How to Choose the Best Crypto to Buy Now
Here are some common factors we look at when evaluating the best altcoins to buy now.
- Market Capitalization
- Recent performance
- Technological advancements
- Upcoming catalysts
- Community support
This is not a simple case of choosing projects with higher market values or great recent price performance. Sometimes an investor prefers to find a small-cap project to invest in, although these are higher risk. Some investors may also prefer cryptocurrencies with recent poor price performance due to the perception that they may be undervalued.
Top cryptocurrencies to buy now
Let’s get started and check out our list of cryptocurrencies!
1. Ethereum (ETH)
Ethereum will often be on the list of best cryptocurrencies to invest in, no matter who is doing it. Ethereum is the leading blockchain network underpinning the burgeoning Web3 and DeFi industries, with countless potential use cases.
Potential Price Catalyst
- ETF Approval: The SEC’s recent approval of Ethereum ETFs is expected to generate significant capital inflows.
- Scalability Updates: Upcoming Layer 2 solutions could increase the number of transactions Ethereum can perform while reducing fees.
Should I buy Ethereum now?
With increasing institutional investments and continued technological improvements, Ethereum could be poised for significant growth. Its continuous updates and potential price increases from ETF trading make it an attractive candidate for interested investors, while issues such as a lack of regulatory compliance or a broader market downturn could have a negative impact on the price.
2.Bitcoin (BTC)
No introduction needed, Bitcoin is the world’s first cryptocurrency and remains the largest, with a massive market cap of $1.3 trillion, dominating the market.
Potential Price Catalyst
- Bitcoin Halving: Recent halving events have historically coincided with price increases.
- ETF Approval: Like Ethereum, Bitcoin ETFs were recently approved, attracting more institutional investments.
Should I buy Bitcoin now?
Bitcoin is an interesting prospect. It was literally the best-performing asset class in the world throughout 2024 and the year before, outperforming both stocks and commodities. For this reason, an investment in BTC can be a double-edged sword.
It is attractive due to the impressive price history, but the fact that BTC is close to a higher price may put off some investors, with many preferring to buy at what they consider to be a lower point in the future price trajectory.
3. Binance Coin (BNB)
BNB is the native token of Binance exchange and Binance Smart Chain, which offers discounts on trading fees to users and thus offers plenty of practical utility.
Potential Price Catalyst
- DeFi Integration: BNB’s integration with Binance Smart Chain supports multiple DeFi projects.
- Benefits for the user: BNB holders enjoy reduced trading fees and exclusive token sales.
Should I buy Binance Coin now?
Binance Coin saw a fairly strong price fluctuation of 27% last week, with high trading volume and volatility providing plenty of swing trading opportunities for experienced investors.
Of course, the currency is also in the hands of long-term investors. BNB has a very valuable use case, but it is also vulnerable to the successes and failures of the Binance exchange, which was recently embroiled in a crisis money laundry scandal.
4. Solana (SOL)
No list would be complete without at least one contender for the Ethereum throne, and here we go with Solana. The network allows for fast transactions and low fees, giving it a potential advantage over Ethereum if upcoming Ethereum network upgrades prove underwhelming.
Regardless, Solana is building its own community and projects, with a growing number of developers creating applications on the platform.
Potential Price Catalyst
- Integration between chains: Integration with LayerZero for cross-chain transfers enhances its functionality.
- Stablecoin launch: PayPal’s stablecoin launch on Solana highlights its growing ecosystem.
Should I buy Solana now?
Solana has remained relatively stable in terms of price over the last month, with a 10% increase in 30 days and a 1% drop in the last week, as the price continues to bounce off established support and resistance levels.
5. Polkadot (DOT)
Polkadot is a huge project working on something crucial to the success of the blockchain industry, i.e. interoperability. The aim of the project is to allow multiple blockchains to work together and transfer information and funds between each other with full compatibility.
Potential Price Catalyst
- Parachain Technology: Exclusive technology that supports scalability and interoperability.
- Developer community: Strong support from developers ensures continuous innovation.
Should I buy Polkadot now?
Polkadot prices have fallen nearly 8% over the past week and are now trading at $6.57 and struggling to stay above crucial resistance levels at $6.40. This presents an interesting case for traders looking to buy potentially undervalued projects, although of course timing the bottom is not an easy task.
Final Thoughts on the Best Crypto to Buy Now
Ethereum and Bitcoin remain top picks for many analysts across the industry due to the popularity and functionality of these well-known cryptocurrencies. However, Solana, Binance Coin, and Polkadot are also interesting competitors at the moment due to a mix of unique price action and potential price catalysts displayed by each coin.
At the end of the day, risk management is key. When choosing the best crypto to buy today, investors typically set specific target prices and follow a strict set of rules with regards to their profit-loss ratio and others. best crypto trading practices.
Disclosure: This article does not represent investment advice. The content and materials presented on this page are for educational purposes only.