The Best crypto to Buy After Recent Market Events
In the aftermath of the recent US Presidential debate and new inflation data shaping the possibility of a 25bps rate cut from the Federal Reserve next week, investors are on the lookout for the best crypto to buy now. While major cryptocurrencies like bitcoin (BTC), ethereum (ETH), and Solana (SOL) have experienced minimal movement, there are other promising options to explore.
bitcoin, ethereum, and Solana have shown relatively flat movement, with bitcoin dipping to the mid-$55,000s before rebounding to around $57,000, maintaining a weekly gain of approximately 4%. Despite the stability, alternative lesser-known altcoins are beginning to show stronger potential in the market.
Internet Computer (ICP) Breaks Resistance Levels for Major Gains
Internet Computer (ICP) emerged as a top performer, exhibiting a 9% increase in the last 24 hours, according to CoinMarketCap. Currently trading at $8.72, ICP challenged its late August highs of around $9 earlier this week, with the possibility of further gains towards July highs and the 200-day moving average (200DMA) at $11.
The breakout from a downtrend that started in March sets the stage for ICP to potentially return to yearly highs above $20, making it a compelling choice for investors looking for significant gains.
DeFi Leader AAVE Shows Strong Upward Momentum
AAVE, a prominent DeFi platform, experienced a 5% rise in the past 24 hours, reaching new yearly highs above $158 on Wednesday. With a substantial increase of 56% over the last 30 days and a total value locked (TVL) of nearly $11 billion, AAVE solidifies its position as a leading DeFi player.
As AAVE continues its upward trend, it remains a top contender for investors seeking the best crypto to buy now.
Bittensor (TAO) Sees Recent Gains with Cautious Outlook
On the other hand, Bittensor (TAO) witnessed notable gains this week, currently priced at $286. However, its long-term technical indicators suggest a more cautious approach, as the coin remains within its recent range with an uncertain outlook compared to its counterparts.
Exploring Alternative Investment Strategies with crypto Presales
For those interested in alternative investment avenues, crypto presales offer high-risk, high-reward opportunities. These presales provide early access to potential projects at discounted valuations, albeit with increased volatility.
While the analysts at Cryptonews.com monitor the presale market closely, investors should exercise caution when considering crypto presales due to their speculative nature.
Stay informed about the latest developments in the crypto market and make well-informed decisions to maximize your investment potential.
