Discover the top cryptocurrencies to invest in now, taking into account long-term potential and recent trends in the blockchain industry. Despite a slight decline in major cryptocurrencies like Bitcoin and Ethereum, traders are looking for altcoins that have the potential to outperform the market.
Bitcoin and Ethereum have experienced a 4-6% drop from their weekly peaks, but these dips are expected to be temporary due to positive developments in the crypto market. The recent approval of spot Ethereum ETFs by the SEC, along with increasing pro-crypto rhetoric from US Presidential candidate Trump and growing support for crypto legislation in Congress, have contributed to the positive sentiment.
With the market experiencing a slight decline, traders are searching for cryptocurrencies that can offer quick gains. Here are some altcoins that are considered the best cryptocurrencies to buy now:
1. Shiba Inu (SHIB): SHIB has seen a rapid rise in the past few days, driven by bets on Ethereum ecosystem growth. It has gained 5% in the past 24 hours and is currently trading above $0.000027. With a technical break earlier this month indicating a potential retest of yearly highs, SHIB is a strong contender for the best cryptocurrency to buy now.
2. Worldcoin (WLD): Despite underperforming compared to other cryptocurrencies, WLD has shown promising signs with a 7% increase in the past 24 hours. It is currently priced at $4.86 and is aiming to surpass its 21 and 50-day moving averages, which could lead to a rally back to yearly highs at $12. With the prospect of quick 2.5x gains, WLD is a potential investment option.
3. Chiliz (CHZ): CHZ, the token powering the sports and entertainment-focused crypto platform Socios, has been on the rise. It has gained 8.5% in the past 24 hours and is trading just below $0.16. CHZ is about to challenge its 2024 highs, and a break above this level could generate further momentum for the altcoin’s recovery. With the potential for 5x gains if it returns to its previous peaks, CHZ is an attractive investment opportunity.
In addition to investing in established cryptocurrencies, traders can also consider participating in new crypto presales. These presales offer high-risk, high-reward opportunities, as early investors can often secure significant gains if the project gains traction. However, it is important to note that investing in presales carries similar risks to traditional startup investing, as the success of the project depends on the competency of management and execution.
To assist investors in navigating the market, Cryptonews has compiled a list of their top 22 presale picks. It’s important to remember that crypto is a high-risk asset class, and this article is for informational purposes only and should not be considered investment advice.