As macro tailwinds following dovish comments from Fed Chair Jerome Powell help lift major cryptocurrencies back toward recent highs, investors looking for the best cryptocurrencies to buy today would do well to take a look at smaller altcoins. Many of which have large pumps.
Powell hinted that the Fed is close to cutting interest rates, boosting bets that rate cuts begin in June.
This helped push Bitcoin (BTC) back to $68,000 and Ethereum (ETH) to $3,900.
While BTC and ETH have made modest gains, major cryptocurrencies have fallen after recent big pumps.
BONK was last down 12.5% in 24 hours, PEPE was down 10% and SHIB was down 9%.
But other sections of the altcoin space are starting to improve.
Let's take a look at some altcoins with strong bullish momentum that could be the best cryptocurrency to buy today.
Best cryptocurrencies to buy today
Jupiter (JUP)
As Solana meme coins surrender to take profits, the native token of Solana's largest decentralized exchange (DEX) Jupiter (JUP) is being pumped.
The price of JUP last rose more than 34% in 24 hours, according to CoinMarketCap.
The latest pump has pushed its market value north of $1 billion. This makes him a crypto unicorn again.
Jupiter's full diluted market cap is currently about $7.7 billion.
But Jupiter has a good chance of catching up to Uniswap in this bull market as the Solana ecosystem grows exponentially.
Uniswap has a fully diluted market capitalization of about $15 billion, nearly double that of Jupiter.
For traders looking for a good value DEX coin to buy, Jupiter could be their best bet.
That's why it ranks among the best cryptocurrencies you can buy today.
Thorshin (rune)
Another DEX token pumped on Thursday is cross-chain exchange THORChain (RUNE).
According to CoinMarketCap, the price of THORChain has risen by 26% in the past 24 hours, making it among the best cryptocurrencies to buy today.
With a still modest market cap of $2.2 billion, THORChain is another great bet on DEX.
RUNE is eyeing a near-term retest of its late 2024 highs at $7.30.
A break above this level could open the door to a quick return to early 2021 record highs of around 21.
This could mean near-term gains in the 3x region.
Eos (Eos)
The EOS (EOS) token from the first layer of the blockchain has been pumped 17% in the past 24 hours in hopes of burning the token.
Holy shit. Let it burn. EOS:2. pic.twitter.com/56tDjPahfY
– Eve La Rose (@BigBeardSamurai) March 7, 2024
With a modest market capitalization of only about $1.3 billion, EOS has a lot of upside potential.
If it can break significantly above the $1.35 resistance level, a quick rally towards support turned into resistance around $1.90.
The potential for more rapid gains suggests that EOS is likely one of the best cryptocurrencies to buy today.
Cryptocurrency alternatives that can be considered the best cryptocurrencies to buy today
All the above currencies offer potential investors the opportunity to make 10x gains.
But for those looking for a better potential for near-term gains, an alternative high-risk, high-reward investment strategy to consider is participating in cryptocurrency pre-sales. In fact, such pre-sales may be some of the best cryptocurrencies to buy today.
This is where investors buy tokens for emerging cryptocurrency projects to help fund their development.
These tokens are always sold at a cheap price, and there is a long history of pre-sales providing huge gains to early investors.
Many of these projects have great teams behind them and a great vision to deliver a unique crypto application/platform.
If an investor can identify such projects, the risk/reward of his investment before selling is very good.
The Cryptonews team spends a lot of time researching pre-sale projects to help investors.
Here is a list of 15 of what the project considers to be the best cryptocurrency presales of 2023:
See 15 cryptocurrencies
Disclaimer: Cryptocurrencies are a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all your capital.
