Best Crypto to Buy Now April 10 – Ethena, Nervos Network, ORDI

Last updated: April 10, 2024, 7:58 p.m. EDT | 4 minutes of reading

Dogecoin, Shiba Inu and Pepe are on the shortlist of best cryptocurrencies to buy now. Image from cryptonews.com

As Bitcoin (BTC) climbs back above $70,000 following lower GBTC outflows and despite higher-than-expected US inflation figures, traders are scouring the altcoin markets for the best crypto to buy now for quick wins.

Grayscale GBTC ETF saw its lowest releases in a month, just $18 million. This drop in capital outflows follows Grayscale CEO notes he believes in sales pressure Failed crypto estates like FTX and Genesis are largely over.

If Grayscale’s CEO is correct, the risks appear to be tilting towards net flows into spot Bitcoin ETFs remaining consistently positive. This suggests Spot Bitcoin ETF demand could once again become a major driver of the market.

The increase in weak GBTC sales follows Bitcoin’s surprising resilience to higher-than-expected US CPI data.

THE The consumer price index increased by 0.4% month-on-month in March, above the expected increase of 0.3%. That triggered a rise in U.S. bond yields and the dollar as traders reduced their bets on the Fed rate cut.

This would generally be bearish for crypto, so Bitcoin The resilience came as a surprise to many.

Maybe Bitcoin The outperformance despite a hawkish reassessment of the Fed’s interest rate expectations is due to the fact that the United States continues to run a massive budget deficit, with fiscal irresponsibility a major reason given to buy and hold of BTC.

Add to the mixture that Spot Bitcoin ETF flows are turning bullish and the halving is imminent. And Bitcoin appears poised to hit $100,000 this year.

This means that Bitcoin is definitely a contender for the best cryptocurrency to buy right now.

But some traders expect gains of more than 40% to 50% this year. They are perhaps aiming for gains in the 5-10x range.

Only smaller and less known altcoins will be able to achieve such gains, although of course it carries more risks.

Here are some of the best performers altcoins on Wednesday, this could be the best crypto to buy now.

Best Crypto to Buy Now

Ethena (ENA)

Ethena (ENA) hit new record highs north of $1.50 per token on Wednesday.

According to CoinMarketCap, ENA is up 16% in 24 hours and has a market cap of $1.16 billion.

ENA is currently a major topic of discussion in the crypto space. Since its launch a week ago, it has increased more than 4 times.

Ethena is a decentralized financial protocol behind the issuance of the innovative yield-bearing token USDe. The protocol recently added Bitcoin as a collateral option, contributing to the hype.

Ethena seeks to repeat the success of the Terra blockchain’s UST cryptocurrency, but without a spectacular explosion.

The protocol already has $2.27 billion in TVL per Lama DeFi. However, with Bitcoin as a collateral option, this could soon explode.

Ethena’s market cap could increase by at least 5x this bull market. This is why it is one of the best cryptos to buy right now.

Nervos Network (CKB)

The growing modular network Nervos Network (CKB) is in full swing on Wednesday.

It has just reached its highest level since the start of 2021, near $0.038 per token. It increased by 10% in the last 24 hours, according to CoinMarketCapwith a market capitalization now above $1.5 billion.

As CKB aims for a retest of its 2021 highs near $0.045, it might just be the best crypto to buy now.

CKB might be the best crypto to buy now as it quickly returns to all-time highs. Source: TradingView

COMPUTER (COMPUTER)

Bitcoin Ordinal Listing Protocol (ORDI) is also booming on Wednesday. It was last trading near $72.2, up 6% in 24 hours according to CoinMarketCap.

Its market capitalization was also around $1.5 billion, suggesting it still has plenty of room to aim higher. Assuming Ordinals continues to see rapid adoption as the bull market continues, it could easily grow 5-10x. This makes it one of the best cryptocurrencies to buy right now.

Crypto Alternatives to Consider

Cryptocurrency pre-sales have attracted attention as a potential route to significant returns.

Presales give investors the opportunity to purchase tokens at preferential prices. Potentially, these early investors could then sell these tokens for a profit if the project gains traction in the market.

Pre-sales can be riskier than investing in established cryptocurrencies. This is because they carry many of the same risks as investing in a start-up – that is, the risk that something will go wrong and the team will not deliver on its promises.

However, historical data indicates that they can also generate substantial gains for those who manage to identify promising ones. Projects with strong leadership, clear goals, and the potential to disrupt the cryptocurrency space can offer big benefits.

The Cryptonews team provides resources and analysis to identify the most exciting pre-sales in the cryptocurrency industry.

Here is a list of 16 of what the team considers to be the best crypto presales of April.

See April’s 16 Crypto Presales

Warning: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose your entire capital.

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