Altcoins
Best Crypto to Buy Now April 22 – Pepe, NEAR Protocol, Pendle
Last updated: April 22, 2024, 6:49 p.m. EDT | 3 minutes of reading
As Bitcoin (BTC) holds north of $66,000, up 2.5% in the past 24 hours, and other major cryptocurrencies gain ground, crypto investors are scouring the markets for the altcoin in search of best crypto to buy today.
Traditional asset markets stabilized Monday as traders anticipate Key US inflation data released on Friday. The SPX has rebounded above 5,000, the DXY is moving sideways around 106 and 10-year yields are stable at 4.6%.
The stabilization of the macroeconomic context has enabled Bitcoin and major altcoins to continue their positive momentum after the halving.
Assuming that the macroeconomic situation does not become a major short-term obstacle for the market again, BTC could soon return to its recent highs.
This could mean a short-term upside of more than 10% for the world’s largest cryptocurrency.
Selling pressure from miners after the halving may be higher than usual as miners adjust to lower revenues. Some believe this could prevent BTC from breaking new records in the coming months.
But, in the long term, the combination of lower BTC inflation and continued demand for spot Bitcoin ETFs is optimistic.
Only 450 #bitcoin is extracted daily.
In 64 of the last 70 trading days, Blackrock alone has absorbed more than 450 BTC.
Do with this information what you must.
– Julien Fahrer (@Julian__Fahrer) April 22, 2024
Add to the mixture that The Fed should start cutting interest rates before the end of 2024.
The recipe for BTC to reach $100,000 in 2024 is here. For investors new to crypto, Bitcoin is definitely the best crypto to buy right now. This is not just due to its positive outlook.
It is also the oldest, most trusted, most famous, most widely adopted, and most understood cryptography on the market.
But investors looking for quick exponential gains will need to find smaller funds, lesser known altcoin gems.
Here are some altcoins with strong momentum on Monday that could be the best crypto to buy now.
Best Crypto to Buy Now
Grandpa (Grandpa)
Pepe (PEPE) pushes higher with lots of momentum on Monday. The legendary meme coin last rose 15% in 24 hours, according to CoinMarketCap.
Pepe’s technical outlook could be about to improve if it can confirm a bullish breakout above a downtrend.
Having already rebounded almost 70% from previous monthly lows, Pepe may soon return to recent highs near $0.000011.
This could mean quick gains of 60% for PEPE. Therefore, this could easily be the best crypto to buy now.
NEAR Protocol (NEAR)
Ethereum rival NEAR Protocol’s native token, NEAR, is up about 14% over the last 24 hours Monday.
Finally, at $7, the cryptocurrency is looking at a quick 3x rebound to reach all-time highs near $22.
#Close Protocol $NEAR reversed #Polygon $MATIC 👀 pic.twitter.com/F7aFGXJ6WX
– Ajay Kashyap (@EverythingAjay) April 22, 2024
With a market cap of around $7.5 billion, a 3-5x increase is not out of the question. This is why it also potentially ranks as the best cryptocurrency to buy right now.
Pendle (PENDLE)
Pendle (PENDLE), an upcoming tokenization and yield trading protocol, is eyeing a retest of record highs on Monday.
PENDLE is almost 15 times higher than last summer’s low of less than $0.50. Its rebound from its 2022 lows is even more impressive at over 200x.
According to CoinMarketCapPENDLE’s 24-hour gains are around 13%, with a market cap near $1.6 billion.
This leaves plenty of room for wins of 10x or more as the asset tokenization story gain territory.
With Pendle partnering with Ethena, another rapidly rising yield protocol, its TVL could soon increase further.
I’m excited to release two new updates for $ENA
Users can now deposit $ENA In @pendle_fi and receive 30x rewards per day up to an initial cap of $100 million
Furthermore, with the $ENA the lock is now almost filled at $200 million, the cap on this pool has been increased to $300 million effective immediately pic.twitter.com/UDbvmfEGmU
– Ethena Laboratories (@ethena_labs) April 15, 2024
This potentially makes PENDLE one of the best cryptocurrencies to buy today.
Alternative Crypto Investing Strategy to Consider – Presales
Investing in smaller, lesser-known altcoins is a great way to make a quick crypto profit.
However, investors looking to increase their risk profile should not overlook another very profitable strategy: investing in new cryptocurrencies. ICO.
Future web3 start-up often seek to raise funds in their early stages by selling their native protocol token.
These sales are almost always made at a significant discount compared to the potential of the project. For example, most presales will sell their token at a price that gives them a market cap of $10-30 million.
If a good project gains traction, it can easily reach a market capitalization of hundreds of millions. As a result, pre-sale investors can often realize up to 10x gains.
Of course, investing in new crypto ICOs carries many of the same risks as traditional startup investing. The success of a project depends largely on the competence of management and execution.
With so many new crypto ICOs to choose from, getting started can be a daunting task.
Fortunately, the experienced Cryptonews team has already done a lot of digging. Here are 18 of their favorite projects:
You can also watch this video from Cryptonews’ Crypto Arjay, who reviews his top three 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.