Major crypto prices are crawling higher on Thursday as investors mull the prospect of the start of a new Fed interest rate cutting cycle next week, with crypto traders scouring altcoin markets for the best crypto to buy now for near-term outperformance.
Bitcoin (BTC) hit fresh highs for the week on Thursday above $58,000, a more than 11% rebound from last week’s lows.
But the world’s largest cryptocurrency by market cap remains locked well within recent ranges, as do most over major cryptos.
And technicals aren’t exactly painting a bullish picture, with Bitcoin still trapped way below its major moving averages.
For long-term investors, Bitcoin certainly remains a leading option for the best crypto to buy now.
It remains the most well-known, most decentralized, most trusted crypt in the world and will remain at the forefront of global crypto adoption.
That said, risks related to the upcoming US election and the US economy potentially tilting to recession mean that near-term volatility could remain high.
Investors might be better served by selecting altcoins with strong bullish momentum.
Here are some top performers on Thursday that might be the best crypto to buy now.
Best Crypto to Buy Now – Which Are They?
Layer-1 blockchain protocol Sui (SUI) is leading the altcoin market on Thursday, rallying 15% in 24 hours per CoinMarketCap.
The crypto’s outperformance comes in wake of Grayscale launching its Sui Trust for accredited investors.
Grayscale Sui Trust is open to eligible accredited investors seeking exposure to $SUI, a third-generation blockchain designed to help address scalability and transaction costs.
Click below to learn more about Grayscale Sui Trust or reach out to us: https://t.co/WgCAFA7E8L pic.twitter.com/gic7kJDzF6— Grayscale (@Grayscale) September 11, 2024
SUI, last trading around $1.03, is looking to test its 200DMA, which has acted as a ceiling going back to May.
A break above here could see SUI’s outperformance continue and it post quick 2x gains to above $2.0.
That could make SUI one of the best cryptos to buy now.
GameFi platform BinaryX (BNX) and Solana meme coin Popcat (POPCAT) are the next two best-performing cryptos on the day, up 12% and 10% respectively in the past 24 hours per CoinMarketCap.
After recently pushing back to the north of its 50DMA, BNX is eyeing a retest of its yearly highs.
Popcat, meanwhile, has also recently pushed back to the north of its 50DMA.
With both cryptos exhibiting signs of positive momentum, either could be a candidate for best crypto to buy now.
Alternative to Consider
The above-mentioned altcoins could be the best crypto to buy today.
Each could post 5-10x gains during the current bull market.
But some investors looking for higher gains will be looking for higher risk-reward strategies.
They should consider presale investing, where upcoming crypto project’s sell their native token at a discount to early investors to fund development.
Cryptonews.com keeps a close eye on the presale market. Here are some of their top picks this September.
17 Best Crypto Presales to Invest In Now
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