Cryptocurrency markets are unsurprisingly choppy on the final Friday of 2024, as massive option expiries trigger waves of unpredictable buy and sell pressure as market players hedge themselves and reposition ahead of the new year.
Bitcoin options worth around $11 billion expired today, as per data presented by The Block, a new all-time high.
Bitcoin (BTC) was last trading around $42,000, down about 1.5% in the past 24 hours as per CoinMarketCap, while Ether (ETH) was last around $2,300, down around 2.5% over the same time period.
Conditions across major altcoins are mixed, with Solana (SOL) up 4.5% in the $103s, BNB (BNB) down 6.5% and Cardano (ADA) down 2.5%.
Traders are looking ahead to key drivers in 2024 that include potential near-term spot Bitcoin ETF approvals in the US, Ethereum’s Dencun upgrade, the Bitcoin issuance rate halving, the prospect of the start of a new Fed interest rate cutting cycle, US elections and further developments in various major crypto lawsuits, including the US SEC vs Ripple and the US SEC versus Binance and Coinbase.
Ahead of 2024, here are some of the best crypto’s to buy today.
Kaspa ($KASPA)
$KASPA bulls have regained control in the past two days after the price broke to the north of a downtrend that had been in play since early December.
The cryptocurrency was last trading around $0.12 and probing a break to the north of its 50 and 21DMAs, which could open the door to a quick push higher towards this year’s all-time highs in the $0.155 area.
Kaspa ($KASPA) Chart / Source: TradingView
Longer-term, $KASPA’s chart structure remains highly bullish, with the 2023 uptrend still strongly intact.
Kaspa ($KASPA) Chart / Source: TradingView
Meme Kombat ($MK)
For those with a strong risk tolerance, investing in promising up-and-coming web3 project by buying into their token presales is one good way to generate potential quick exponential gains.
Cryptonews.com spends a lot of time analyzing which presales have potential, and one such project that they are big fans of is an exciting new project called Meme Kombat.
Meme Kombat blends together the world of crypto gaming and gambling with its exciting platform where users are able to bet on the outcomes of exciting battles between characters based on some of the crypto world’s most popular meme coins.
Early $MK investors can also benefit from generous staking rewards, which are currently more than 100% annually.
The project has already raised close to $5.25 million, despite launching just weeks ago.
Bonk! ($BONK)
The world’s third-largest meme coin and a darling of the Solana ecosystem Bonk! ($BONK) is back in the ascendency on Friday, after a rough week.
On Thursday, $BONK fell back to $0.0000125, a more than 65% decline from the high it hit earlier in the month above $0.00003.
It has since recovered over 20% from these lows to trade in the $0.000015s, meaning it remains higher by about 86x versus October’s lows.
If Bonk! can break back above its downtrend from its record highs, it stands a good chance of quickly recovering back towards $0.00003, making it a good crypto to buy today.
Bonk! Chart / Source: TradingView
Sei ($SEI)
Finance-focused blockchain Sei ($SEI) pumped to fresh record highs on Friday near $0.60, raising another 27% on the day and taking its gains since October’s lows to more than 500%.
With a still relatively small market cap of $1.3 billion and a lot of potential for this technologically advanced new blockchain, Sei still offers a good possibility of 10x or more gains.
Sponge V2 ($SPONGEV2)
Sponge V2 ($SPONGEV2) is the reincarnation of the legendary Spongebob Squarepants-themed $SPONGE token, which reached a market cap of nearly $100 million earlier in 2023 and delivered gains to its earlier investors in the region of 100x.
$SPONGE token holders will be able to stake their tokens to receive an equivalent amount of $SPONGEV2 tokens, as well as to start earning staking rewards (paid out in $SPONGEV2) with a minimum APY of 40%.
$SPONGEV2’s main advantage over $SPONGE is that it will power a new play-to-earn game, the details of which are yet to be released.
But we do know that there will be a free version and paid version of the game.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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