Cryptocurrencies like FLR, THETA, and NEAR compete for the best crypto to buy today. Image by cryptonews.com
While major cryptocurrencies are largely trading in the green on Monday, Bitcoin (BTC) remains stuck within recent ranges, and so investors hunting for the best crypto to buy today continue to scour altcoin markets for better trading opportunities.
Bitcoin recently pushed up towards $53,000, up around 5% from recent range lows under $51,000.
But the bulls won’t officially have regained control until BTC can break above $53,000 resistance.
Traders will be monitoring buy pressure in the spot market from ETF inflows, which slowed last week as per CoinShares.
Ether (ETH), meanwhile, continues to benefit from optimism that it could be next to receive US spot ETF approval.
ETH was last trading just above $3,100, 2% higher in the past 24 hours, as per CoinMarketCap.
Traders will be eyeing the release of US Core PCE inflation data on Thursday as this week’s main macro event.
The inflation figures could impact expectations for Fed rate cuts later in the year, and also crypto prices.
Broadly speaking, as long as the narrative that Fed rate cuts are coming later in the year remains unscathed, macro events this week don’t pose too much risk to crypto prices, beyond perhaps having the potential to act as a catalyst for a short-term price dip that would probably be aggressively bought into.
With the Bitcoin halving around the corner and Ethereum’s Dencun upgrade imminent, the BTC and ETH outlooks remain strong.
But traders could secure faster gains by divesting into strong performing lesser-known altcoin names.
Here are some altcoins with strong bullish momentum that could be the best crypto to buy today.
Best Crypto to Buy Today
Flare (FLR)
Data-focused layer-1 blockchain Flare (FLR) has featured on CryptoNews’s Best crypto to buy today list a few times recently.
And for good reason.
FLR was last up another 37% in the past 24 hours, as per CoinMarketCap.
The cryptocurrency hit fresh all-time highs above $0.056 on Monday.
It is now up over 550% from its October 2023 lows.
But with a market cap of still under $2 billion, and a fully diluted market cap of under $5.5 billion, Flare has plenty of room to run to the upside.
Traders could still easily be looking at 3-5x gains in the medium-term future.
Flare thus remains one of the best crypto to buy today.
Theta Network (THETA)
Innovate “dual network” Theta Network is one of the best-performing cryptos on Monday, up 25% in 24 hours.
THETA is testing key long-term resistance around $1.70 after storming above resistance at $1.45.
Theta Network combines a smart-contract-enabled layer-1 blockchain with a data and storage network.
With a market cap of only around $1.7 billion, THETA has plenty of upside left this bull market.
3-5x gains are certainly on the cards.
That’s why THETA could be the best crypto to buy today.
NEAR Protocol (NEAR)
Layer-1 protocol NEAR Protocol (NEAR) is up around 11% in the past 24 hours, as per CoinMarketCap.
Last just above $4.10, NEAR is eyeing an imminent retest of 2024 highs in the $4.60 area.
A break above here could open the door to a run back to all-time highs above $20.
5x gains are certainly on the cards, making NEAR one of the best crypto to buy today.
Crypto Alternatives to Consider
All of the above coins offer potential investors a chance to make 5x gains.
But, for those looking for a better probability of near-term gains, an alternative high-risk, high-reward investment strategy to consider is getting involved in crypto presales.
This is where investors buy the tokens of startup crypto projects to help fund their development.
These tokens are nearly always sold cheaply, and there is a long history of presales delivering huge exponential gains to early investors.
Many of these projects have fantastic 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 their presale investment is very good.
The team at Cryptonews spends a lot of time combing through presale projects to help investors out.
Here is a list of 15 of what the project deems as the best crypto presales of 2023:
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