MicroStrategy has made a significant impact on the cryptocurrency market with its recent acquisition of Bitcoin worth $1.11 billion this week.

Currently, the price of Bitcoin stands at $60,411, marking its highest value in the past ten days.

BTC Surges As MicroStrategy’s Acquisition Spree Continues and ETF Inflows Resume

With this latest purchase, MicroStrategy’s total Bitcoin holdings have reached 244,800 bitcoins, valued at approximately $9.45 billion.

Michael Saylor, the founder and CEO of MicroStrategy, announced this latest acquisition on his X account, detailing the purchase of 18,300 bitcoins at an average price of $60,408 each. In U.S. dollar terms, this represents an investment of $1.11 billion.

Despite the average acquisition cost being $60,408, Bitcoin’s market value was $58K at the time of the announcement. However, following the announcement, Bitcoin’s price surged, reaching a peak of $60,642 on Friday night.

This substantial investment comes just days before the eagerly awaited Federal Open Markets Committee (FOMC) meeting, where the Federal Reserve is expected to cut interest rates.

Moreover, Bitcoin ETF inflows have returned after experiencing predominant outflows since late August. This indicates a shift in institutional sentiment, increasing the likelihood of a positive market reaction to the forthcoming FOMC meeting.

Nevertheless, short sellers continue to dominate the futures market, reflecting a bearish consensus among leveraged traders.

DaanCrypto notes that this situation is “generally healthy” for the market as it puts pressure on short sellers to pay long buyers a premium to maintain their positions.

Reflecting this mixed sentiment, the Crypto Fear and Greed Index currently stands at 38, indicating fearfulness but edging towards neutrality.

However, with Bitcoin maintaining a value above $60K and institutions injecting significant capital, the broader market sentiment may be lagging behind in its outlook.

Top Cryptocurrencies to Consider Buying Now

Given the current fearful market sentiment, this could present a timely investment opportunity ahead of the next bullish wave.

With that in mind, let’s examine five cryptocurrencies showing high potential:

Pepe Unchained

Pepe Unchained is a meme coin featuring its own layer 2 blockchain—a first in the industry. The project is currently in its presale phase.

Thousands of traders have already taken advantage of the opportunity to buy $PEPU early, with the presale raising over $13 million so far.

As one of the most talked-about new projects on the market, Pepe Unchained stands to benefit as cryptocurrency prices rally.

The project is developing a Pepe-themed Ethereum layer 2 blockchain that promises to be 100 times faster and significantly cheaper than Ethereum.

Key features include a staking mechanism, a dedicated Ethereum bridge, and a block explorer.

Staking is already live and offers a 156% annual percentage yield (APY), which will decrease as the staking pool grows.

Bittensor

Bittensor has been one of the top-performing cryptocurrencies over the past 24 hours, rising by 12% today and 38% this week.

However, its recent performance isn’t the only reason TAO might be one of the best cryptocurrencies to buy now.

The project is creating a decentralized AI network equipped with advanced innovations like inference. This allows for a “distributed trust-less style of machine learning where requests are authenticated and verified using the digital ledger,” effectively enhancing the collective intelligence of AI models on its network.

AI cryptocurrencies are well-positioned in the market, particularly with GPU chip manufacturer Nvidia continuing to show strength in the stock market—a signal that AI technology remains a hot investment category.

Bittensor is one of the most valuable AI cryptocurrencies and is likely to benefit from the rising tide in the AI sector.

Currently, TAO is priced at $324 and has a market cap of $2.3 million.

Crypto All-Stars

During bullish periods, meme coins often see significant gains. Crypto All-Stars provides a unique diversified opportunity to gain exposure to 11 of the top meme coins.

The project is developing a unified staking protocol for meme coins. Users will be able to stake their joke tokens (like Dogecoin, Shiba Inu, and Pepe) and earn passive $STARS rewards.

However, users must hold $STARS to access the platform and are incentivized to hold as much as possible since the more they earn, the more they hold.

Imagine uniting all top meme coin communities under one token—that’s what $STARS aims to achieve, creating unprecedented demand.

Holders can also stake their $STARS tokens to generate even more gains.

The project is currently undergoing a presale and has raised $1.2 million so far. The current presale price for $STARS is $0.0014419 but will rise in two days.

Polygon

Polygon is an Ethereum-compatible blockchain boasting an extensive ecosystem of applications and technologies.

Like Bittensor, Polygon is one of today’s frontrunners in the market, currently up by 11.3% today and 14.6% this week.

Why is Polygon a good buy? Polygon has a wide range of groundbreaking technologies within its ecosystem. Some of these technologies, like Polygon zkEVM, provide decentralized, secure, and scalable on-chain transactions.

Furthermore, Polygon is seeing increased network adoption. One emerging trend is prediction markets and betting, where Polygon holds the largest market share in terms of Total Value Locked (TVL).

Currently trading at $0.42, Polygon recently transitioned from ticker MATIC to POL. Together, these two tokens have a market cap of $4.2 billion.

Memebet Token

The rise of prediction markets brings us to Memebet Token—a new meme coin-focused GambleFi project.

With Memebet, users can wager top meme coins on thousands of games and sportsbook events. This idea merges two high-octane use cases in crypto: meme coins and gambling.

While the casino supports wagering in all top meme coins, users receive special benefits for wagering with $MEMEBET tokens. These benefits include larger prizes, exclusive access to new features, airdrop entries, and invitations to an inner-circle VIP group for high-volume bettors.

Memebet Casino will launch as both a web app and a Telegram application, ensuring widespread accessibility and seamless onboarding. It will also be KYC-free.

The project is currently undergoing a presale and has raised $220K so far.

70% of tokens are allocated for presale, 20% for community rewards, and 10% for liquidity. Memebet Casino will fund its long-term development through fees accrued on its platform.