Altcoins
Best Crypto to Buy Today February 8 – BitTorrent, Stacks, Dymension
Last Updated: February 8, 2024 10:41 AM EST | 3 minutes of reading
Crypto markets are booming on Thursday, with Bitcoin (BTC) and Ether (ETH) both at multi-week highs, although investors looking for the best crypto to buy today will still be eyeing the smaller ones. altcoin markets, which can offer even more impressive opportunities. -term gains.
Bitcoin is back in the $45,000s and Ether is back in the $2,400s as cryptocurrencies benefit from a number of tailwinds.
US stocks hit new records and Fed policymakers continue to talk about rate cuts Later this year.
This gives the market macroeconomic tailwinds, while Bitcoin also benefits from GBTC selling pressure decreasing.
BTC could also benefit from safe-haven demand due to concerns over the health of regional US banks.
Ether, meanwhile, is enjoying a tailwind from optimism about a near-term mainnet upgrade and news that one-time ETF seekers have recently changed their deposits.
After successful Testnet upgrades, Ethereum developers will deploy the Dencun upgrade on the mainnet on March 13.
ARK 21Modified actions their spot Ethereum ETF to a liquidity creation model more similar to their recently approved Bitcoin ETF.
This suggests potential coordination with SEC officials, which could be interpreted to imply a high probability that their ETF will gain approval.
Multiple Ethereum spot ETFs could be approved as soon as May.
While BTC and ETH are up 3-5% over the past 24 hours, some smaller altcoins are seeing much bigger gains.
Let’s take a look at Thursday’s best performers and assess whether they could be the best crypto to buy today.
Best Crypto to Buy Today
BitTorrent (BTT)
The BitTorrent token (BTT) recently broke north of an ongoing downtrend since December.
BTT increased by more than 25% in 24 hours, according to CoinMarketCap.
The token was last trading around $0.0000010, but could be set for a retest of December highs at $0.0000017.
The prospect of 65% gains in the near term means BTT could be one of the best cryptocurrencies to buy today.
Batteries (STX)
As Bitcoin hits new multi-week highs, one of its most promising Layer 2 networks, Stacks (STX), is pumping.
According to CoinMarketCapSTX was last up 18% in 24 hours.
After decisively breaking through its 21 and 50DMA, STX has every chance of retesting the 2024 highs above $2.0.
With STX currently just below $1.80, that means potential short-term gains of 15%.
This could make STX one of the best cryptocurrencies to buy today.
Dymension (DYM)
Just Launched Layer 1 Blockchain Focused on “RollApp” Dymension benefits from favorable winds on Thursday.
At $7.12, it is up 18% in 24 hours and is eyeing a retest of post-ICO highs at $8.40.
Dymension launched earlier this week in one of the most exciting airdrops of 2024, with users across multiple blockchains receiving tokens.
The prospect of a 20% near-term rally to record highs makes DYM one of the best cryptocurrencies to buy today.
Crypto Alternatives to Consider
All of the coins above offer potential investors a chance of making 10x gains.
But, for those looking for a better probability of short-term gains, an alternative high-risk, high-return investment strategy to consider is get involved in crypto presales.
This is where investors buy tokens from startups’ crypto projects to help fund their development.
These tokens are almost always sold cheaply, and there is a long history of presales offering huge exponential gains to early investors.
Many of these projects have fantastic teams and a great vision behind them to deliver a unique crypto application/platform.
If an investor can identify such projects, the risk/reward ratio of their pre-sale investment is very good.
The Cryptonews team spends a lot of time going through pre-sale projects to help investors.
Here is a list of 15 of what the project considers to be the best crypto presales of 2023:
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.