Altcoins
FLR, THETA and NEAR are some of the best cryptocurrencies to buy today
Last Updated: February 26, 2024, 11:07 AM EST | 3 minutes of reading
While major cryptocurrencies trade largely in the green on Monday, Bitcoin (BTC) remains stuck in recent ranges, and investors looking for the best crypto to buy today continue to scour the altcoin markets to find better trading opportunities.
Bitcoin has recently pushed toward $53,000, up about 5% from recent lows in the sub-$51,000 range.
But the bulls will only have officially regained control when BTC can move above the $53,000 resistance.
Traders will be watching for buying pressure in the spot market due to ETF inflows, which slowed last week according to Coin Shares.
Ether (ETH), meanwhile, continues to benefit from optimism that it could be next to receive approval for spot ETFs in the United States.
ETH was last trading just above $3,100, up 2% over the past 24 hours, according to CoinMarketCap.
Traders will view the release of US PCE core inflation data on Thursday as the main macroeconomic event this week.
Inflation numbers could impact expectations of Fed rate cuts later in the year, as well as cryptocurrency prices.
Generally speaking, as long as the story which Fed rate cut that arrive later in the year remains unscathed, this week’s macroeconomic events do not pose too much risk to crypto prices, beyond perhaps the potential to act as a catalyst for a price decline to short term that would likely be aggressively purchased.
With the Bitcoin halved on the corner of the street and Ethereum’s Dencun Upgrade Imminentthe BTC and ETH outlook remains strong.
But traders could achieve faster gains by divesting into lesser-known, high-performing altcoin names.
Here are some altcoins with strong bullish momentum that could be the best crypto to buy today.
Best Crypto to Buy Today
Rocket (FLR)
The data-driven Layer 1 blockchain Flare (FLR) made CryptoNews’ list of best cryptocurrencies to buy today. a few times recently.
And for good reason.
FLR increased by another 37% in the last 24 hours, according to CoinMarketCap.
The cryptocurrency hit new all-time highs above $0.056 on Monday.
It is now up more than 550% from its October 2023 lows.
But with a market cap still below $2 billion and a fully diluted market cap below $5.5 billion, Flare has plenty of room to grow.
Traders could still easily see 3-5x gains in the medium-term future.
Flare therefore remains one of the best cryptos to buy today.
Theta Network (THETA)
Innovating in “dual network” Theta Network is one of the best performing cryptos on Monday, up 25% in 24 hours.
THETA is testing key long-term resistance around $1.70 after breaking above resistance at $1.45.
Theta Network combines a smart contract-enabled layer 1 blockchain with a data and storage network.
With a market cap of only around $1.7 billion, THETA has a lot of upside after this bull market.
Winnings of 3 to 5 times are certainly possible.
This is why THETA could be the best crypto to buy today.
NEAR Protocol (NEAR)
Layer 1 NEAR Protocol (NEAR) has increased by approximately 11% in the last 24 hours, according to CoinMarketCap.
Last just above $4.10, NEAR sees an imminent retest of 2024 highs in the $4.60 area.
A break above this level could open the door to a return to all-time highs above $20.
5x gains are certainly possible, making NEAR one of the best cryptocurrencies to buy today.
Crypto Alternatives to Consider
All of the coins above offer potential investors a chance of making 5x 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: