As major cryptocurrencies gain momentum at the start of a pivotal week filled with macroeconomic risk events, investors are meticulously examining altcoin markets to determine the best crypto investments right now.
Bitcoin (BTC), the flagship cryptocurrency, recently surged by approximately 2% within the past 24 hours, trading in the mid-$55,000s, according to CoinMarketCap.
Other leading cryptocurrencies, including Ethereum (ETH), Binance Coin (BNB), Solana (SOL), XRP (XRP), and Dogecoin (DOGE), experienced gains between 1-3% during the same period.
This week is particularly significant as Republican and Democrat Presidential nominees Donald Trump and Kamala Harris will face off in a highly anticipated debate on Tuesday. Trump is perceived as the more crypto-friendly candidate, making this debate crucial for traders who will be closely monitoring its impact on election prediction markets.
Currently, Polymarket has Trump as the slight favorite to win the upcoming November election. Following the debate, Wednesday will bring the release of the US Consumer Price Index (CPI) inflation data. This data is expected to confirm the ongoing deflationary trend in the US economy, potentially providing the Federal Reserve with the justification to begin cutting interest rates.
The prospect of a second Trump presidency combined with a lower interest rate environment is seen as a significant potential boost for major cryptocurrencies. However, with rising recession risks in the US, investor risk appetite may remain subdued for some time.
Given these dynamics, investors are keenly evaluating which cryptocurrencies might be the best to buy now. Here are some strong performers from Monday that could be worth considering.
Could These Strong Performers Be the Best Crypto to Buy Now?
One notable contender is a cryptocurrency that has recently formed a pennant structure, indicating a potential breakout above the $1.0 mark. For those exploring meme coin markets, this crypto could be an optimal choice.
Additionally, the layer-1 protocol Fantom (FTM) has shown impressive performance, rising 11% in the past 24 hours to nearly $0.44 per CoinMarketCap. FTM could be one of the best cryptos to buy now due to its bullish technical setup. The cryptocurrency recently broke above a downtrend and is poised to advance towards $1.0.
Moreover, the decentralized AI network Bittensor (TAO) has also emerged as one of today’s top crypto performers. TAO increased by 10% in the past 24 hours; however, it may not be among the best cryptos to buy now due to its unconvincing technical setup. Currently priced just above $260, TAO remains below its major moving averages and is confined within multi-month ranges.
For those analysts seeking the best crypto investments, participating in crypto presales could be a strategic move. Presales offer investors an opportunity to enter high-potential crypto projects early and at significantly discounted valuations.
Analysts at Cryptonews.com closely monitor the presale market and have identified several top picks worth considering right now.