An Educational Rundown of the Best Cryptocurrencies to Buy Now
The DeFi sector has been receiving increased attention in the crypto market, accounting for over 9% of crypto transactions in the last 24 hours. However, the overall crypto trading volume remains below $30 billion, a value that has been stagnant since the market experienced a bearish condition in mid-August. Despite this, investors are eagerly awaiting a crypto market recovery and seeking out the best cryptos to buy now. Let’s take a closer look at some of the top-performing cryptocurrencies and why they may be worth considering.
1. Kaspa (KAS): With a whopping 1250% increase in value this year, Kaspa has emerged as one of the biggest gainers in the crypto market. Its performance over the past 52 weeks surpasses 98% of other top-ranking cryptocurrencies, including Bitcoin and Ethereum. In the last 24 hours alone, Kaspa saw a growth of over 13% and a significant spike in trading volume. With its current trends and various positive factors, Kaspa is gradually establishing itself as one of the best-performing cryptos. Its price is around 1.5 times its 200-day EMA, indicating potential for further accumulation. Additionally, Kaspa’s recent launch of an API for developers to build on its network is expected to drive demand for its platform in the coming weeks.
2. Chainlink (LINK): Chainlink has been experiencing a gradual shift away from its sideways trend. Despite the recent bearish conditions in the market, Chainlink has been showing signs of upward movement. Its price has gained over 3% today, accompanied by a boost in trading volume. Technical analysis suggests that Chainlink has enough momentum to potentially increase in price by 20%. However, it’s worth noting that Chainlink’s long-term moving averages present a challenge for long-term bullish growth, as its current price remains below its 100-day and 200-day moving averages. Nonetheless, the platform’s activities in the interoperability space continue to strengthen its position as a leader in the industry. Overall, Chainlink remains one of the best cryptos to consider buying now, although a range of price correction may still be ahead.
3. Solana (SOL): Despite its fluctuating trends over the past 52 weeks, Solana’s recent price action has deviated from its previous decline. The price of SOL increased by over 5% today, accompanied by a significant boost in trading volume. This sudden change in trend can be attributed to the recent news of Visa expanding its stablecoin settlement pilot to Solana. This development has sparked confidence among investors and resulted in an accumulation of the SOL token. As the deal between Visa and Solana progresses, SOL’s price may rally and break above the $20 resistance level. Although SOL currently underperforms in comparison to other cryptocurrencies, it remains one of the best cryptos to consider buying now due to its solid fundamentals and relatively high liquidity.
4. GMX: GMX has been experiencing a price increase of over 3% in the past 24 hours and over 10% in the last 72 hours. Alongside the improving price, GMX is also witnessing improved liquidity based on its increasing market cap. Technical indicators suggest that GMX may be one of the best cryptos to buy now, with its relative strength index indicating an impending price reversal. Additionally, its MACD reading signals a bullish trend in the short term. However, its relationship with moving averages suggests potential bear pressure in the medium term. Therefore, it may be wise for investors to wait for further trends to unfold before making a decision. Nonetheless, GMX is on a growth path and has the potential to gain further value in the coming months.
5. Sonik Coin (SONIK): Sonik Coin has been making significant progress, recently completing Stage 1 of its roadmap and gearing up for Stage 2, which includes claims, listing, staking, and marketing. The project has raised over $1.8 million in its presale offering and is set to go live on September 7th. With ambitious goals to reach a $100 million market cap, Sonik Coin presents an opportunity for investors to get in early. To participate, head to the official website of Sonik Coin and stay vigilant against potential scammers.
In conclusion, these cryptocurrencies offer unique opportunities for investors to consider. Each token has its own set of strengths and weaknesses, and it’s important to carefully analyze their current trends and future potential before making any investment decisions. The crypto market remains volatile, but by staying informed and conducting thorough research, you can position yourself for potential gains.
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