Altcoins
FIL, CHZ, SC are some of the best cryptocurrencies to buy today
Last Updated: February 20, 2024, 12:38 PM EST | 2 minutes of reading
As Bitcoin (BTC) and Ether (ETH) saw some volatility on Tuesday after briefly hitting multi-year highs, investors looking for big returns are increasingly exploring on-chain markets in hopes of finding the best crypto to buy today.
Bitcoin temporarily crossed the $53,000 threshold on Tuesday, and Ether momentarily reached the $3,000 mark. However, both subsequently experienced a decline of around 3%. BTC is currently trading in the low $51,000 range, while ETH returned to the $2,900 level.
In the current market outlook, alternative cryptocurrencies and meme coins are emerging as attractive options for investors looking for quick gains.
Here are some smaller altcoins that are currently trading with stronger bullish momentum and could be some of the best cryptos to buy today.
Best Crypto to Buy Today
Filecoin (FIL)
The decentralized data storage protocol Filecoin (FIL) was launched recently.
FIL almost reached $8 per coin on Tuesday, close to its highest level of the year.
Trading just above $7.50, FIL is up more than 9% in 24 hours, according to CoinMarketCap.
Filecoin is up 60% from its yearly lows and if it manages to break above resistance at $8.10, it could quickly rally another 25% to reach 2023 highs around $9.50.
The prospect of quick potential gains makes FIL one of the best cryptocurrencies to buy today.
Chiliz (CHZ)
Another altcoin with strong momentum is the sports and entertainment-focused Chiliz (CHZ) blockchain.
Up 6% in 24 hours according to CoinMarketCapCHZ recently made new multi-month highs above $0.1260.
CHZ is up a staggering 125% from last October’s low.
But that could be nothing compared to the potential additional gains if CHZ manages to break a long-term downtrend.
If so, a rally to 2022 highs around $0.30 or to record highs near $1.0 is possible.
This is why CHZ could be one of the best cryptocurrencies to buy today.
Siacoin (SC)
Decentralized cloud storage network Sia’s native token, Siacoin, generated 6% in 24 hours, according to CoinMarketCap.
SC just hit its highest level since early 2022, above $0.015.
Up over 500% from its 2023 lows, SC is eyeing an additional 300% surge toward its 2021 record highs above $0.06 per coin.
With a market cap of only around $800 million, 4x gains are certainly possible.
Therefore, Siacoin could easily rank among the best cryptocurrencies to buy today.
Crypto Alternatives to Consider
All of the coins above offer potential investors an excellent chance of making solid gains.
While the future is always uncertain when it comes to crypto, these names could be among the best crypto to buy today.
However, those looking for a greater probability of short-term gains should consider an alternative high-risk, high-return investment strategy: getting involved in crypto presales.
Pre-sales provide investors with a routine to get involved in a project at its earliest stages, and thus potentially realize returns of up to 100x.
If investors can identify projects with solid foundations, the risk/reward ratio of their investment is very good.
Cryptonews analysts spend a lot of time reviewing new pre-sale projects.
Here are 14 of the best presales of 2024, according to the Cryptonews team:
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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