As the rally in major cryptocurrencies like Bitcoin and Ether extends to Thursday, traders hunting for the best crypto to buy today continue to scour smaller-cap altcoin markets for opportunities.
BTC pumped towards $53,000 on Thursday on continued optimism surrounding strong spot ETF flows.
ETH also appears to be benefiting from ETF optimism ahead of the expected approval of spot Ether ETFs later this year, with ETH/USD rallying above $2,800 for the first time since May 2022 on Thursday.
Also aiding the rally in major cryptos is a recovery in US stocks back toward record highs.
Softer-than-expected US retail sales data for January released on Thursday eased concerns about the Fed delaying rate cuts.
This appears to have supported risk appetite in the stock and crypto markets.
While bullish momentum in the blue-chip crypto market looks set to remain strong, smaller altcoins of less well-known/established projects could potentially deliver even better gains to investors.
The smaller-cap cryptocurrencies of newer protocols/projects are much riskier than BTC and ETH, however.
But they could potentially offer a much better prospect of 10x gains.
Here are some of the best-performing altcoins on Thursday that could be the best crypto to buy today.
Best Crypto to Buy Today
VeChain (VET)
Up close to 32% in 24 hours as per CoinMarketCap, VeChain (VET) could be the best crypto to buy today.
VET just spiked to its highest levels since May 2022 and nearly hit $0.050 after breaking through resistance at $0.040.
VET is still more than 80% lower than its early 2021 highs in the $0.27 area.
That means it could still have plenty of upside room left to run.
VeChain is a layer-1 blockchain that aims to streamline supply chain management.
Bitget Token (BGB)
Centralized cryptocurrency exchange Bitget’s native token Bitget Token (BGB) just pumped to record highs.
Last at $0.85, BGB is up over 17% in 24 hours and is up 550% versus last summer’s lows.
With a still modest market cap of $1.2 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.
Terra Luna Classic (LUNC)
The native token of the original Terra blockchain that collapsed back in May 2022, Terra Luna Classic, is pumping.
As per CoinMarketCap, it was last up around 15% in 24 hours above $0.00013.
While the LUNC token lost all utility following the multi-billion-dollar collapse of the Terra ecosystem back in May 2022, it has become something of a meme coin that can see big short-term moves driven by speculation.
Its market cap was last just under $800 million.
For those looking for a shitcoin that could see speculation-driven near-term gains, LUNC could be the best crypto to buy today.
Altcoin Alternatives to Consider
The above-noted altcoins could all be the best crypto to buy today, given the potential for near-term appreciation.
For investors with high stomachs for risk, newly launched cryptocurrency presales may provide greater upside than short-term altcoin rallies, however.
Presales allow pioneering projects to offer native tokens at early bird discounts before public listing sends prices soaring. While presales carry hazards akin to startup investing, their potential rewards inspire intrepid speculators.
However, investors must evaluate teams, use cases, tokenomics, roadmaps, and partnerships before rolling the dice. If an investor does a good job of assessing the project the risk/reward of presales can be very good.
Luckily, analysts here at Cryptonews pay close attention to the presale market–and here are 14 of their favorite projects:
See the 14 Presales of Cryptocurrencies
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