Cryptocurrencies like Siacoin, BNB and Fetch.ai compete for best crypto to buy today Image by cryptonews.com
With major cryptocurrencies succumbing to profit-taking in wake of strong gains in recent weeks, investors hunting for the best crypto to buy today are scouring altcoin markets for asymmetric investment opportunities.
Bitcoin (BTC) was last down just over 2.5% on Wednesday and trading just below $51,000.
Ether (ETH), meanwhile, was last trading with losses of around 3.5% near $2,900, having pulled back from above $3,000.
Profit-taking is overdue in wake of impressive gains for major cryptos that has primarily been driven by optimism surrounding ETFs.
BTC is up 22% in 30 days, while ETH is up around 17.5% over the same time period as per CoinMarketCap.
While the rally in the major cryptos take a breather, investors hunting quick gains are looking at smaller altcoins.
Here are some names with strong bullish momentum that could be the best crypto to buy today.
Best Crypto to Buy Today
Siacoin (SC)
Decentralized cloud storage network Sia’s native token Siacoin has pumped 11% in 24 hours, as per CoinMarketCap.
Indeed, SC just hit its highest level since early 2022 above $0.017.
Up over 600% from its 2023 lows, SC is eyeing a further 300% push toward its 2021 record highs above $0.06 per coin.
With a market cap of only around $900 million, 3-4x gains are certainly within the realm of possibility.
Hence, Siacoin could easily rank among the best crypto to buy today.
BNB (BNB)
Crypto’s fourth largest coin by market capitalization BNB (BNB) just pushed to its highest levels since November 2022 above $370.
Up over 5% in 24 hours as per CoinMarketCap, it is one of Wednesday’s best performers.
Concerns about Binance’s legal issues in the US has held the BNB price down in recent quarters.
Indeed, where BTC is up over 3x versus its 2022 bear market lows, BNB is only up around 2x.
But the blockchain remains strong, suggesting it could represent a good value play.
That means BNB could be the best crypto to buy today.
Fetch.ai (FET)
Decentralized machine learning platform Fetch.ai (FET) has been pumping in recent days.
It was last up around 5% in the past 24 hours around $0.975, as per CoinMarketCap.
FET is closing in on a retest of its 2021 record highs in the $1.20 area, which could mean quick gains in the region of 20%.
But FET has a modest market cap of only around $800 million and a promising AI use case.
That suggests it could go a lot higher, perhaps posting gains in the region of 4-5x.
That makes Fetch.ai one of the best cryptos to buy today.
Alternative to Consider
The above-noted coins offer the prospect of decent 3-5x gains.
But traders with an even higher tolerance for risk ought to consider an alternative investment strategy with a higher potential pay-off – investing in crypto presales.
Crypto presales are where web3 start-ups raise funds for platform development via the discounted sale of their native crypto tokens.
Presale investing carries risks akin to investing in start-ups, so investors should always do their due-diligence.
With so many presales vying for invest funds, its difficult to keep track of the best opportunities.
Here are some of the top projects, as per analysts at Cryptonews:
13 Best Crypto Presale Projects for 2024
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