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InsideBitcoins regularly provides an overview of the best cryptocurrencies to buy nowgiven their recent price performance.
Crypto value continues to rage as the price of many assets has fallen significantly in the past 24 hours. Currently, the global crypto market cap is down nearly 1%, pushing its value to $1.15 trillion. Despite falling asset prices in the cryptocurrency market, what are the best cryptos to buy right now?
Global Crypto Market Cap chart
Best crypto to buy now
The best time to identify promising assets is during downtimes. It is also the best time to bring new assets into an investment portfolio. Today’s article looks at the cryptocurrency market to identify investment opportunities that are not so obvious to many investors. Likewise, it explores opportunities in crypto presale that can yield explosive profits upon listing.
1. See (SEI)
SEI has been able to attract massive attention as a result of its glamorous debut on several exchanges earlier this week.
The platform is described as the first industry-specific layer one blockchain to give the upper hand to DeFi exchanges. The platform has identified efficiency as the problem of most DEXs, and it’s gone on a mission to address the issues.
Some of the DEX issues identified by SEI include downtime, which often leads to serious user disadvantages. It also identified scaling and speed issues with many DEXs. The SEI platform initiates solutions to solve the problems. The mission statement states that the project aims to accelerate the adoption of digital assets worldwide.
The platform has announced that it has launched the beta phase of the mainnet. The announcement came after the completion of the alpha test with a whopping 400 million successful transactions. The price of that asset surged more than 2000% in the early hours of today as the crypto market welcomed news of its mainnet launch. Also, the trading volume is still printing 1000% intraday profits.
In addition, the proposed airdrop has given SEI much-needed visibility. The airdrop is scheduled for the launch date on the public mainnet. Since the announcement, there has been a notable increase in activity on the network.
SEI could be a great start given the numbers registered upon arrival in the market. Also, the team behind the project and its foundations position it for a bright future. Also, the novelty of its solution, especially in the contentious Defi sector, suggests that SEI could become a force to be reckoned with.
Nevertheless, it may be too early to declare SEI the best cryptocurrency to buy right now. Investors should monitor performance closely in the coming weeks before moving in. However, by buying SEI early, investors can take advantage of the cheap price.
2. Bone Shiba Swap (BOT)
Is BONE the best crypto to buy right now? Bone has carved a niche for itself in the crypto industry after being on the top winners list for most of the month. Not only was it on the list, it was at the top for days. At the time of writing, BONE’s price has pushed an intraday gain of over 5% and its trading volume is up over 150%.
The activities around the Shiba Inu ecosystem may have contributed to the increase in the value of the asset. The ecosystem recently welcomed a new addition, TREAT. Also, the listing of SHIB as collateral on Binance may have raised the hopes of investors in the ecosystem. As the network braces for the Shibarium launch, BONE is arguably one of the best cryptos you can buy right now.
However, some drawbacks may overshadow the prospect of Bone’s explosive increase in the future. One of the main red flags is low liquidity, which is reflected in the market cap. In addition, the token is currently leaning towards the overbought range, which could increase the likelihood of a price drop.
In the meantime, BONE offers an opportunity for long-term hedging. As the business around the BoneSwap platform improves, so does the value of the asset.
3. XDC Network (XDC)
XDC has maintained its grip on the tokenization wave of assets sweeping across the crypto landscape. Like the rise of DeFi, the new trend in the industry is the tokenization of real world assets. XDC, one of the most notable blockchains in the sector, has registered a huge increase in price.
In the past 30 days, XDC recorded 19 green days, placing it on the winner’s list for most assets. In addition, his performance over the past 24 hours has been equally remarkable. In the early hours of today, the token registered a price pump that added about 5% to its price.
Signals from the charts show that XDC could continue its upward trend over the next week. The token is already in the oversold range and could enter a retrace in the coming days.
Ultimately, XDC could be a viable cryptocurrency in the long run as asset tokenization gradually gains ground.
However, the downside of the XDC token is its liquidity. Compared to other assets, the XDC can be said to have average liquidity. Also, it could find resistance in the $0.6 range in the near term. Nevertheless, XDC is worth considering. Investors should keep a close eye on the token and the wave of tokenization.
4. Kaspa (KAS)
Kaspa is once again in an upward trend. The token fell into a price drop after spending weeks in a rally that gave KAS its all-time high. Despite the recent drop in price, the token is still outperforming the entire crypto market by far.
In the past 24 hours, Kas has posted almost 5% gains. Perhaps the gains mark the end of the week-long decline. In addition, trading volume recorded a 10% increase in the early hours before falling back to $20 million.
KAS gives signals of potential strength. Overall, they paint KAS as one of the best cryptos you can buy right now. The biggest upside is the current price, which is way ahead of the moving averages. In addition, KAS has posted more than 16 days of gains in the past 30 days, ahead of more than 97% of the top performing companies in the crypto market.
Despite its strong performance, some flaws could threaten its chance to become an explosive crypto asset. The main drawback of KAS is its low liquidity, based on the current market capitalization. In addition, Kaspa is notorious for high volatility, which could make it a poor asset to a long-term strategy.
Therefore, it is best to do further research before settling for the token. However, based on its performance in recent times, the cryptocurrency has shown tremendous potential.
5. Chimpzee (CHMPZ)
Even though the CHMPZ token has yet to go live on exchanges, it is already positioning itself as one of the best cryptocurrencies to buy right now.
The project aims to raise the bar against ongoing deforestation and the threat to wildlife. While the mission is achievable, there is a need for more hands-on board.
Therefore, the Chimpzee Project is still inviting investors to participate as it attempts to recruit more Chimpzee armies for its campaign.
So far, the presale has raised more than $1.1 million, and it’s already in Phase 9. With just 48 hours until the end of the current phase, investors still have a chance to join the movement for $ 0.00085. When phase 9 closes, the price rises to $0.00095.
????Be part of the #Chimpzee movement, burning 10 billion tokens to bring the supply below 50 billion!⚡
???? #Chimpzee is set to burn 1 billion tokens for every 200,000 milestone!
????Increase the value of $CHMPZ #Coins!
Grab the ongoing reward for extra free $CHMPZ tokens!????
???? For $150 or more =… pic.twitter.com/4bUqTW9yon
— Official Chimpzee Project (@RealChimpzee) August 16, 2023
Interestingly, the platform has integrated a deflationary effect into the asset before going live on exchanges. According to a post on his Twitter handle, there will be a consistent token burn for every $200,000 milestone covered in the presale.
Invariably, the platform will burn billions of CHMPZ tokens before launch. Thus, the price of the asset will rise dramatically before it goes live.
There are several other interesting facts about the project and the details are available on the presale page.
Visit Chimpzee Presale.
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