As cryptocurrency markets take a breather after the massive rally that followed Wednesday's Fed meeting, investors are searching the best cryptocurrencies to buy today in altcoin markets in search of outperforming coins.
Bitcoin (BTC) was last consolidated at the mid-$66,000s, after topping $68,000 earlier in the day.
This leaves the world's largest cryptocurrency still close to 10% higher than Wednesday's lows.
Meanwhile, Ethereum (ETH) is consolidating near $3,500, roughly 15% from Wednesday's lows.
The strength of Ethereum's rebound is surprising to some, given recent news that the Securities and Exchange Commission is campaigning to classify Ethereum as a security.
Bulls are hoping the recent rebound signals the end of market bounces driven mostly by profit-taking.
Bitcoin could easily retest the all-time highs set last week near $74,000.
With analysts betting that Bitcoin will reach $100,000 this year, Bitcoin is certainly a candidate for the best cryptocurrency to buy today.
But smaller, less popular altcoins can deliver much greater gains.
Here are some cryptocurrencies that might be the best to buy today.
Best cryptocurrencies to buy today
Ondo (Ondo)
Ondo (ONDO), the native governance token of Ondo DAO and Flux Finance, is pumped.
The value of cryptocurrencies has risen by more than 36% in the past 24 hours, according to CoinMarketCap. ONDO's market capitalization has now jumped to more than $1 billion, amid nearly half a billion in trading volume.
ONDO recently hit all-time highs north of $0.80 and the sky is now the limit.
With DeFi protocol Flux Finance gaining traction, ONDO could go much higher.
With 5x gains on the cards, ONDO could be the best cryptocurrency to buy today.
JasmyCoin (JASMY)
Decentralized Internet of Things (IoT) protocol JasmyCoin (JASMY) is pumping hard, up 31% in 24 hours.
Finally at $0.0225, JASMY is now up 660% versus its 2023 lows of $0.003.
However, JASMY is still down nearly 94% versus its all-time high price reached in late 2021 above $0.36.
This suggests that it is still too early to return to the coin, assuming it continues to pump into the broader market.
JASMY is therefore a candidate for the best cryptocurrency you can buy today.
Floki (FLOKI)
FLOKI (FLOKI), the Shiba Inu meme coin created in honor of Elon Musk's pet Shiba Inu dog, was a groundbreaking coin on Thursday.
According to CoinMarketCap, it was last up 26% in 24 hours, with its market capitalization surpassing $2.1 billion.
But with both Dogecoin and the Shiba Inu valued at over $20 billion, it may have a long way to go higher.
That's why, even though it has already come a long way, it could be the best cryptocurrency you can buy today.
Encryption alternatives to consider
All the above currencies offer potential investors a great 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.
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 revolutionary 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 14 of what the project considers to be the best cryptocurrency presales of 2023.
See 14 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.
