As major cryptocurrencies edge higher at the start of a big week of macro risk events, investors are scouring through altcoin markets as they consider what might be the best crypto to buy now.
Bitcoin (BTC) was last trading up about 2% in the past 24 hours in the mid-$55,000s, per CoinMarketCap.
Other major cryptos like Ethereum (ETH), BNB (BNB), Solana (SOL), XRP (XRP) and Dogecoin (DOGE) were up 1-3% over the same time period.
Republican and Democrat Presidential nominees Donald Trump and Kamala Harris go head to head in a debate on Tuesday.
Trump is seen as the more pro-crypto candidate of the two, so traders will be closely watching the debate and its impact on election prediction markets.
Polymarket currently has Trump as the slight favorite to win the November election.
Trump's odds are now 10% ahead in Pennsylvania. pic.twitter.com/bAXrMVXrLu
— Polymarket (@Polymarket) September 9, 2024
Wednesday then sees the release of US Consumer Price Index (CPI) inflation data.
The data is expected to confirm the ongoing deflationary trend in the US that gives the Fed the green light to start cutting interest rates.
A potential second Trump presidency plus lower interest rate environment have been touted as big potential tailwinds for major cryptos.
But as US recession risks rise, risk appetite may remain dampened for some time.
So investors are asking what might be the best crypto too buy now.
Here are some strong performers on Monday that might be good options to consider.
Could These Strong Performers Be the Best Crypto to Buy Now
The best performer in the top 100 cryptocurrencies on Monday is a fairly new Solana meme coincalled Popcat (POP).
Per CoinMarketCap, POPCAT was last up around 12% in the past 24 hours just under $0.58.
But the crypto could soon vault above $1.0. It has formed a pennant structure in recent weeks that may soon break.
For those shopping around in meme coin markets, it could be the best crypto to buy now.
Elsewhere, layer-1 protocol Fantom is another strong performer, up 11% in the past 24 hours to near $0.44 per CoinMarketCap.
FTM could be one of the best cryptos to buy now, thanks to its bullish technical set up.
The crypto recent broke above a downtrend and could soon advance towards $1.0.
Finally, decentralized AI network Bittensor (TAO) is also amongst the top crypto performers today.
TAO was last up 10% in the past 24 hours, but may not be one of the best cryptos to buy now.
That’s because its technical set up is not looking very convincing.
TAO was last just above $260, below its major moving averages and stuck well within its multi-month ranges.
Analysts looking for the best crypto to buy now might instead want to consider getting involved in crypto presales.
Presales offer investors a chance to get into high potential crypto projects early and at highly discounted valuations.
Analysts at Cryptonews.com keep a close eye on the presale market, and here are some of their top picks right now.
19 Best Crypto Presales to Invest In Now
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