On a day where blue-chip crypto markets are trading with a bearish bias, investors are scouring altcoin markets for strong performers that could be the best crypto to buy today.
Bitcoin (BTC) and Ether (ETH) are both down around 5% in 24 hours, as markets swoon amid macro headwinds.
Strong US manufacturing data on Monday has been interpreted by the market as likely to delay Fed rate cuts.
The US dollar and US bond yields have since vaulted higher, pressure US stocks and the crypto market.
Bitcoin was last trading near $66,000, having dipped as low as the $64,000s earlier in the day. The US government moved $2.1 billion of its confiscated Silk Road Bitcoin to Coinbase earlier, triggering jitters of a fire-sale.
Ether, meanwhile, was last trading just under $3,300.
Focus is set to return squarely to US spot Bitcoin ETF demand, while traders will continue to
While major cryptos are suffering, a few smaller altcoins are pumping hard.
Here are some of the best performers on Tuesday that could be the best crypto to buy today.
Best Crypto to Buy Today
Ethena (ENA)
The token of Decentralized Finance (DeFi) protocol Ethena (ENA) launched on Tuesday and has been performing well.
According to Bitget, “Ethena is a synthetic dollar protocol developed on the Ethereum blockchain, offering a new breed of stablecoin called USDe.”
ENA was last trading around $0.82, up around 20% from its launch price of closer to $0.60.
Its market cap was last around $1.2 billion, with a fully diluted value of $12.3 billion.
The token generated a lot of excitement today as it just opened an airdrop. USDe holders will be able to claim their share of 5% of the ENA token supply.
The innovate protocol could see further upside as hype continues to build. That’s why it ranks as one of the best crypto to buy today.
Litecoin (LTC)
Despite the market’s broadly bearish Tuesday trading conditions, Litecoin (LTC) is perky.
LTC jumped 8% in the past 24 hours, as per CoinMarketCap, to around $107.
LTC has been probing for a potential breakout above its 2023 highs and towards the $140 resistance area.
Litecoin could be the best crypto to buy today, given it could be about to bust through its 2023 highs, opening the door to further upside. Source: TradingView
The prospect of near-term 40% gains means that Litecoin could well be the best crypto to buy today.
Litecoin is often referred to as digital silver. That’s a nod to the fact that Bitcoin is referred to sometimes as digital gold.
That’s because unlike Bitcoin, Litecoin boasts very fast transaction times and very low fees.
Bitget Token (BGB)
Centralized cryptocurrency exchange Bitget’s native token Bitget Token (BGB) just pumped to record highs above $1.17.
BGB is up over 8.5% in 24 hours and is up 600% versus last summer’s lows.
With a still modest market cap of $2.2 billion, BGB potentially has a lot more room to rally.
That’s assuming crypto exchange Bitget continues to attract strong user demand.
As a result, BGB could be the best crypto to buy today.
Alternative to Consider – Dogecoin 20
The above noted coins could deliver solid gains of as much as 5x during the upcoming bull market.
But many traders will be hunting much larger gains, in the region of 50-100x.
A promising new token called Dogecoin20 being watched by analysts at Cryptonews could be just the ticket.
Dogecoin20 is a rework of the meme coin Dogecoin beloved by Elon Musk that just launched in presale. It features the familiar Dogecoin brand but is based on Ethereum, and offers a staking option.
That means crypto coin presale investors can generate an impressive passive income, which was around 65%, per the project’s dashboard. It shouldn’t be surprising that the meme coin has already raised over $10 million.
Interested investors should move quickly to secure their tokens before the presale ends on doge day in 17 days. At a current price of $0.00022, investors are able to buy into the token at a hugely discounted valuation of under $30 million.
For a meme coin that could easily be 10x to above $300 million, or 100x to above $3 billion, investors are rushing to get involved.
Cryptonews analyst Ari ranks Dogecoin20 as one of his top cryptos to buy right now. See why here:
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