As crypto market s decline on the latest reports of Mt Gox Bitcoin reimbursements and traders monitor Ethereum ETF trading volumes on launch day, investors are parsing through alt-coin markets as they look for the best crypto to buy today.
Kraken reportedly began distributing Mt Gox BTC tokens to claimants on Tuesday, per reports on social media.
Kraken started distributing Gox coins pic.twitter.com/cOxXQaC5p0
— punch (@Punch0x1) July 23, 2024
This sent Bitcoin (BTC) around 2% lower to the $66,000 area. Other major alt-coins also faltered, with Solana (SOL) and XRP (XRP) dropping 3-4% in the past 24 hours.
Ethereum (ETH), meanwhile, was roughly flat just under $3,500, per CoinMarketCap.
Ethereum ETFs went live in the US on Tuesday. And launch day appeared to be a reasonable success, with over $1 billion in trading volumes.
JUST IN – Ethereum ETF trading volume hits $1 billion! pic.twitter.com/drWOUoWUG7
— Altcoin Daily (@AltcoinDailyio) July 23, 2024
With major cryptos trading in subdued fashion, investors are turning to alternatives that might deliver faster gains.
Here are some strong performing altcoins that might be the best crypto to buy today.
Best Crypto to Buy Today
Ethereum Name Services (ENS)
Ethereum Name Services (ENS) was last up 12% in the past 24 hours, as per CoinMarketCap.
The rally is potentially a result of the launch of Ethereum ETFs, which are expected to bring new liquidity into the Ethereum ecosystem. ENS could be a key beneficiary of this.
The ENS bounce could also be as a result of the crypto bouncing from its 50DMA, again.
The 50DMA has been providing strong support in recent weeks.
As ENS continues to probe key long-term resistance in the $30 area, it could be the best crypto to buy today.
That’s because, if it can muster a clean break above $30, I swift rally above $100 is possible.
Helium (HNT)
Helium is another strong performer, up 7% in the past 24 hours Per CoinMarketCap.
HNT has been a strong performer going since breaking to the north of a multi-month downtrend in mid-July.
A quick return to yearly highs around $11 could be on the cards.
As HNT bulls eye potential swift 2x gains, HNT could be the best crypto to buy today.
Pepe (PEPE)
One of cryptos biggest meme coins Pepe (PEPE) is amongst the best performers today, up roughly 4% in 24 hours per CoinMarketCap.
PEPE is hovering above its 50DMA, and priming itself for a breakout towards yearly highs.
The prospect of a quick 50% rally to $0.000017 means it could be the best crypto to buy today.
Crypto Alternatives to Consider
Many high potential alt-coins will deliver investors 10x gains this bull market.
But for investors looking for higher gains of 50-100x, they will need to turn to more speculative coins.
Web3 start-ups frequently conduct presales (or ICOs) to raise cash for development.
Investing in presales gives investors a chance to get in super early on high potential projects.
Presale investors is of course risky. But if investors are savvy and well researched, they can make big gains.
Here are some of the best presales this July, per Cryptonews.com.
The post Best Crypto to Buy Today – Ethereum Name Services, Helium, Pepe appeared first on Cryptonews.
