On a quiet day in the crypto market that saw most major coins going sideways within recent ranges, impatient traders hunting for quick gains are turning to smaller, lesser-known altcoins that might be the best crypto to buy now.
Bitcoin (BTC) was last trading in the $66,000s, virtually flat in the past 24 hours as per CoinMarketCap.
Ether (ETH), meanwhile was just above $3,200, while Solana (SOL) and BNB (BNB) were up 2% each.
It was a risk on the day in traditional markets, with the S&P 500 rebounding over 1% on strong earnings.
Biggest gain for the S&P 500 since February–up 1.2%
— Gunjan Banerji (@GunjanJS) April 23, 2024
That could help keep a floor under crypto prices ahead of Friday’s US Core PCE inflation data.
If this data shows inflation pressures remaining steady MoM in March at an expected 0.3%, this could ease fears about the Fed potentially not cutting interest rates in 2024.
For now, Bitcoin is trading well within its six-week $60,000 to $74,000ish range.
Bitcoin halvings tend not to become a tailwind until a few months after the event. With Fed rate cuts seemingly still some way off and spot ETF inflows slowing to a crawl, BTC could stay rangebound.
#Bitcoin prices remain HEAVILY correlated to spot BTC ETF inflows/outflows. With the halving event out of the way, I expect inflows to pick up again for both BTC ETFs and BTC mining stocks. The post-halving economics remain much better than most anticipated for miners! pic.twitter.com/bVKSO5YqaV
— RexFinance (@Rex_Finance) April 23, 2024
But most assume the Bitcoin bull market still has some way to run yet. Crypto investors should use the current consolidation being seen in the market as an accumulation opportunity.
As the oldest, best known, most trusted, and most secure crypto, Bitcoin is definitely the best crypto to buy now.
However, investors who already have a sizeable Bitcoin allocation and are looking for higher returns may prefer altcoins.
With most altcoins dropping from earlier yearly highs, the current market could be a great dip buying opportunity.
Here are some altcoins trading with strong momentum that could be the best crypto to buy now.
Best Crypto to Buy Now
Hedera (HBAR)
HBAR, the token that powers the decentralized, open-source, proof-of-stake Hedera public ledger, has been rallying on Monday.
It was last up 40% in 24 hours, as per CoinMarketCap, and was last trading around $0.1260.
HBAR’s pump comes amid the news that BlackRock has tokenized one of its funds on the blockchain.
Blackrock + Hedera Hashgraph!
BIG $HBAR news today, Blackrock has tokenized one of their money market funds on Hedera.
This is awesome.
But we know what Blackrock is
pic.twitter.com/MIY6NWsCD0
— megbzk (@megbzk) April 23, 2024
Despite its pump, HBAR has yet to break back above its March highs of around $0.14.
News of BlackRock’s adoption of blockchain could propel HBAR a lot higher.
It may be in with a shout of hitting new all-time highs above $0.58 – quick 5x gains for HBAR, ranking it as potentially the best crypto to buy now.
Akash Network (AKT)
The decentralized computing resource network Akash Network (AKT) was another crypto that saw a big pump on Tuesday.
AKT hit new record highs above $7 in the wake of its listing on the South Korean exchange Upbit.
𝗨𝗽𝗯𝗶𝘁 𝗡𝗲𝘄 𝗟𝗶𝘀𝘁𝗶𝗻𝗴
$AKT pumped 𝟴𝟬% after Upbit announced its listing
Akash Network is the first supercloud to provide permissionless access to cloud resources. pic.twitter.com/f0uB0q1xdn
— Wise Advice (@wiseadvicesumit) April 23, 2024
It has since fallen back to around $5.09, but is still up 27% in 24 hours, as per CoinMarketCap.
With its still small market cap of around $1.2 billion, AKT could yet go a lot higher. Some have said it could be a key beneficiary of the AI narrative.
Thus, AKT could be the best crypto to buy today.
Pepe (PEPE)
The most popular non-Shiba Inu dog-themed meme coin Pepe (PEPE) is pumping hard on Tuesday.
At $0.0000077, Pepe is up nearly 2x versus its earlier monthly lows.
The surge comes after Pepe broke a downtrend from its March 2024 highs.
Pepe could soon rally back above $0.000010. The prospect of quick gains means Pepe could be the best crypto to buy now.
Crypto Alternatives to Consider
Emerging crypto projects often seek funding through presales, offering early investors the chance to acquire tokens at reduced prices. The allure of potential gains attracts those willing to face the inherent risks associated with early-stage ventures.
Careful evaluation of presale projects is crucial for mitigating risk and making informed investment decisions. Key considerations include the expertise of the team, the project’s vision and roadmap, and the technology underpinning the project.
Participation in crypto presales presents both potential rewards and inherent risks. The early-stage nature of these projects, coupled with the volatility of the cryptocurrency market, necessitates a balanced and informed investment approach.
The team at Cryptonews spends a lot of time combing through presale projects to help investors out.
Here is a list of 19 of what the project deems as the best crypto presales of April.
See the 21 Best Crypto Presales of April
The post Best Crypto to Buy Now April 23 – Hedera, Akash Network, Pepe appeared first on Cryptonews.
