Following a quiet start to the week for Bitcoin (BTC) and Ether (ETH), both of which are rangebound in the $68,000 and $3,500/600 areas amid tentative trade ahead of this week’s FOMC meeting, crypto investors looking for the best crypto to buy today are eyeing up movers and shakers in the altcoin market.
The Fed is expected to leave interest rates unchanged. Traders will be rhetoric relating to potential rate cuts later this year.
Hotter-than-expected inflation and an economy that is also beating expectations has seen markets pull back on rate cut bets recently.
That has come as a minor headwind to major cryptos like Bitcoin. Indeed, macro headwinds may have triggered the profit-taking that has driven the price 7.5% down versus last week’s highs.
But many names in the altcoin space have been immune to profit-taking.
Here are some of the best-performing coins on Monday that could be the best crypto to buy today.
Best Crypto to Buy Today
Jupiter (JUP)
Jupiter (JUP), Solana’s biggest decentralized exchange, is pumping on Monday, having rallied 12% in 24 hours as per CoinMarketCap.
The token just hit fresh record highs above $1.5, giving it a market cap of over $2.0 billion. It’s fully diluted market cap was last around $14 billion.
That’s about $2 billion higher than Uniswap’s fully diluted market cap, the most well-established of the DEXs.
For reference, Uniswap’s circulating market cap was last around $7.1 billion. The cryptocurrency hit a market cap $22.6 billion in 2021, so Uniswap could easily 3x from here.
Jupiter, as the Solana ecosystem leader, could see even larger gains. Especially in wake of the recent surge in Solana meme coin trading activity.
That’s why it ranks as potentially the best crypto to buy today.
Fantom (FTM)
Previously seen as a major competitor to Ethereum and darling amongst crypto investors, Fantom (FTM) is attempting a comeback.
FTM was last up around 10% in the past 24 hours, as per CoinMarketCap.
Last at $0.93, FTM is up a healthy near 440% from its October 2023 lows.
And given its market cap of still under $3 billion, Fantom has a lot of upside potential.
Investors could easily be looking at 10x gains with FTM, making it amongst the best crypto to buy today.
XRP (XRP)
XRP is picking up on Monday, last up around 7% in the past 24 hours near $0.66.
As per CoinMarketCap, its market cap was last just above $36 billion, ranking it as a 6th largest crypto.
While it’s performing well on Monday, XRP remains a big laggard this year.
Indeed, XRP is trading close to flat since the start of the year.
That compares to Bitcoin (BTC) and Ether (ETH), which are up 60% and 54% respectively.
Solana (SOL) is up an even more impressive 97.5% and BNB (BNB) 76%.
Both have overtaken XRP in terms of market cap, reaching $89 billion and $82.5 billion respectively. That’s now well over double XRP’s market cap of $34 billion.
That means there is scope for a catch-up trade.
After all, since mid-2023, XRP issuer Ripple has had the upper hand in its lawsuit versus the SEC.
XRP could easily 5x as this crypto bull market matures.
Crypto Alternatives to Consider
All of the above coins offer potential investors a great chance to make 10x gains.
But, for those looking for a better probability of near-term gains, an alternative high-risk, high-reward investment strategy to consider is getting involved in crypto presales.
This is where investors buy the tokens of upstart crypto projects to help fund their development.
These tokens are nearly always sold cheaply, and there is a long history of presales delivering huge exponential gains to early investors.
Many of these projects have fantastic teams behind them and a great vision to deliver a revolutionary crypto application/platform.
If an investor can identify such projects, the risk/reward of their presale investment is very good.
The team at Cryptonews spends a lot of time combing through presale projects to help investors out.
Here is a list of 14 of what the project deems as the best crypto presales of 2023.
See the 14 Cryptocurrencies
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