Top Crypto Picks for Today – Pepe, Arbitrum, Bonk
May 23, 2024
By Joel Frank
Following the SEC’s approval of eight Ethereum ETFs, the crypto market has become volatile, and investors are on the lookout for the best cryptocurrencies to buy now in order to capitalize on the growth of the Ethereum ecosystem.
Despite the news, Ethereum (ETH) has not seen a significant surge and is currently trading just below $3,800. However, it has still experienced a 25% increase over the week, and with the potential to surpass $4,000 in the near future, Ethereum could be the top crypto to invest in right now.
The trading of Ethereum ETFs may begin as early as next week, and if the demand exceeds expectations, similar to what occurred with Bitcoin ETFs earlier this year, ETH could reach all-time highs soon.
While Ethereum looks promising, smaller altcoins might offer a better opportunity to benefit from the growth of the Ethereum ecosystem. Let’s explore some potential options for the best cryptocurrencies to buy today.
Best Cryptocurrencies to Buy Today:
1. Pepe (PEPE): As the third-largest meme coin, Pepe has been gaining momentum all week, with traders betting on its potential to benefit from the growth of the Ethereum ecosystem. It recently reached new all-time highs, and despite a slight dip, it is still showing an 11% increase. With a market cap of $6.26 billion, Pepe has room for further growth and could be an excellent investment option.
2. Arbitrum (ARB): The layer-2 Ethereum scaling blockchain, Arbitrum, is expected to attract more liquidity following the approval of Ethereum ETFs. Currently trading around $1.20, it has shown a 5% increase on Thursday. With its price above its 21 and 50-day moving averages, indicating bullish momentum, Arbitrum has the potential to reach earlier yearly highs, offering the opportunity for quick gains. It could be one of the best cryptocurrencies to buy today.
3. Bonk (BONK): Although Bonk is not directly linked to the growth of the Ethereum ecosystem as it is based on Solana, it has seen a surge in price. This could be due to a general increase in risk appetite, which tends to benefit meme coins. With a market cap of approximately $2.36 billion, Bonk is relatively inexpensive compared to its competitors. Considering its value and potential for growth, Bonk could be an attractive investment option and one of the best cryptocurrencies to buy now.
In conclusion, the recent approval of Ethereum ETFs has created volatility in the crypto market, and investors are seeking the best cryptocurrencies to invest in to take advantage of the growth in the Ethereum ecosystem. Pepe, Arbitrum, and Bonk are three potential options that offer different advantages and could be excellent choices for investors looking for profitable opportunities in the crypto market.
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