Altcoins
Best Crypto to Buy Today February 9 – BONK, BEAM, SUI
Last Updated: February 9, 2024, 1:55 PM EST | 2 minutes of reading
As Bitcoin (BTC) approaches the $48,000 mark and leads a broad-based rally in the cryptocurrency market, investors with a higher risk appetite have been leaning into the smaller-cap altcoin markets, at searching for the best crypto to buy today.
Bitcoin is up 6% in 24 hours after strong inflows into newly launched spot Bitcoin ETFs on Thursday.
The continued rise in the US stock market, positive seasonality around the time of Chinese New Year, and building FOMO are likely also supporting the rise in the BTC market.
Bulls are aiming for a near-term retest of yearly highs in the $49,000 area.
Ether (ETH) rose just over 3% in 24 hours and above $2,500 according to CoinMarketCap.
Solana (GROUND), Cardano (ADA) and XRP (XRP) rose 2-3%.
But small altcoins often experience much larger intraday movements, offering traders/investors the prospect of faster gains.
Let’s take a look at Friday’s top performers and assess whether they could be the best crypto to buy today.
Best Crypto to Buy Now
Bonk (BONK)
Solana’s largest and most popular meme coin, Bonk (BONK) suddenly rose 20% on Friday.
BONK was last around $0.0000127 and looking for a break above its late January highs.
A break above the 50DMA at $0.000013 could open the door for a quick return to yearly highs around $0.000018.
Given its current market cap of around $800 million, BONK presents itself as a meme coin with further growth potential in the ongoing bull market.
As a result, BONK might just be the best crypto to buy today.
Beam (BEAM)
Decentralized gaming network Beam (BEAM) is up more than 15% in the last 24 hours, according to CoinMarketCap.
This pump allowed the token to reclaim a market capitalization of over $1 billion.
BEAM was last around $0.0215, with bulls looking to retest yearly highs around $0.023.
A break above this level could open the door to a retest of record highs near $0.028.
The prospect of 30% gains in the near term could make BEAM the best crypto to buy today.
Sui (SUI)
High performance proof of stake layer 1 blockchain Sui ($SUI), launched in May 2023, reached new all-time highs on Tuesday.
SUI just hit $1.76 for the first time since its launch last year, after rising 15% today.
This means it is now up almost 400% from last October’s lows, around $0.36.
With a still modest fully diluted market cap of around $17 billion, Sui could still achieve 5x gains.
This could make it the best cryptocurrency 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.
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