While the blue-chip crypto markets are experiencing volatility, smaller altcoins like Monero (XMR), Dymension (DYM), and Conflux (CFX) are performing well and could be the best crypto to buy now. Bitcoin (BTC) is approaching $44,000 resistance after reaching new one-week highs in the $43,600s. Ether (ETH) has also surpassed $2,400 for the first time in over two weeks, with gains of 5% on the week due to successful testnet upgrades. The upcoming US CPI figures are the next major event to watch in the market.
Investors seeking the best crypto to buy now often turn to smaller altcoins. These altcoins tend to experience larger gains over shorter periods of time due to their lower liquidity levels. Additionally, their smaller market caps provide more potential for exponential growth. Let’s explore some coins that could be considered as the best crypto to buy now.
Monero (XMR)
The announcement that Binance plans to delist Monero (XMR) caused a significant price dip of 36%. However, XMR has seen significant dip buying demand and has already bounced back by 26%. Despite Binance’s decision, Monero remains popular among crypto purists who value its decentralization, security, and anonymity features. With a potential retest of recent highs in the $180 area, XMR may be a strong buy on the dip.
Dymension (DYM)
Dymension (DYM), a newly launched blockchain built on Cosmos technology and the Inter Blockchain Communication protocol, continues to rise after its $350 million airdrop. With a fully diluted market cap of around $6 billion, DYM has gained around 25% in 24 hours. The hype surrounding this project suggests that it could be one of the best crypto to buy now.
Conflux (CFX)
Conflux (CFX), often referred to as “the Chinese Ethereum,” is experiencing a pump, with over 13% gains on Wednesday. It is likely to test multi-month highs above $0.25 soon, potentially leading to a push towards 2023 highs in the $0.50 area. With the prospect of quick 2x gains, CFX could be considered the best crypto to buy now.
Crypto Alternatives to Consider
While the aforementioned coins offer potential for significant gains, another high-risk, high-reward investment strategy is participating in crypto presales. This involves buying tokens of startup crypto projects at a cheap price to support their development. Many presales have delivered exponential gains to early investors. The Cryptonews team regularly examines presale projects and provides recommendations for investors looking for such opportunities.
Hot Take: The Best Crypto to Buy Now – Dymension, Synthetix, Conflux
If you’re looking for the best crypto to buy now, consider smaller altcoins like Monero (XMR), Dymension (DYM), and Conflux (CFX). These coins have shown promising performance and potential for significant gains. However, keep in mind that investing in cryptocurrencies carries risks, and it’s important to do thorough research before making any investment decisions.
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