The cryptocurrency market appears to be in a recovery phase after weeks of a bearish outlook, sparking cautious optimism among investors.
According to CoinMarketCap data, Bitcoin (BTC) shows signs of price recovery, recording an increase of nearly 1% in the past 24 hours.
Bitcoin’s growth has boosted altcoins like Solana (2.44%), Ripple (1.28%), and Cardano (4.35%). Meanwhile, Ethereum (-0.55%) struggles at $3,400.
Several key events are on the horizon that could impact the crypto market. One of them is the job report from the Bureau of Labor Statistics.
According to the report, job openings jumped higher to 8.14 million in May, signaling continued resilience in the labor market.
In addition, the estimated number of hires rose from 5.62 to 5.76 million, indicating a growing demand for labor. Conversely, layoffs and separations increased slightly from 1.54 million to 1.65 million in May.
Job openings rose modestly to 8,140,000, though this seems to be simply part of the inconsistent but ongoing decline in job openings, rather than a meaningful reacceleration.
The openings to unemployed workers ratio remains at 1.22, consistent w/ pre-pandemic.
3/ pic.twitter.com/XuuehABtO9
— Daniel Zhao (@DanielBZhao) July 2, 2024
Additional economic indicators, including the US ADP Employment Report, US Jobless Claims, the US ISM Services PMI, and the FOMC Meeting Minutes, are set to be released on July 3.
Labor Market Data
Job Openings (tomorrow) #JOLTS
Forecasts are for tomorrow's JOLTS figure to continue its downtrend at 7.9 million vs. April's 8.1 million
Weaker labor market =
likelihood of policy easing pic.twitter.com/KVP3wq1bSD
— MS2 Capital (@ms2capital) July 1, 2024
Strong employment and PMI data may boost economic resilience, attracting investors to risk assets like cryptocurrencies. However, any economic weakness or hawkish Fed tones could dampen sentiment.
Despite these broader market influences, some individual crypto assets have demonstrated remarkable performance, recording solid gains and drawing attention from traders keen on the best crypto to buy now.
This roundup highlights the best crypto to buy now for crypto investors looking to profit from the market.
Beam ($BEAM)
$BEAM is the native cryptocurrency of the Beam network and may very well be one of the best crypto to buy now.
The token is powered by the Merit Circle DAO and is designed to revolutionize the gaming industry.
At its core, the Beam SDK offers game developers a versatile toolkit to integrate blockchain features seamlessly into their games.
Transactions within the Beam network require $BEAM tokens, serving as the primary medium for asset transfers and interactions with smart contracts.
This mechanism ensures smooth and efficient operations across the platform, contributing to a cohesive and immersive gaming experience for users.
It was all a dream
Gamers that can play a game without noticing it all happens on-chain.
That is possible today with @BuildOnBeam
pic.twitter.com/u7TCU9amDy
— Beam (@BuildOnBeam) June 16, 2024
The utility-driven nature of $BEAM positions it as an attractive investment opportunity. At press time, the $BEAM token trades at $0.01863.
As per CoinMarketCap data, $BEAM has recently seen a 10.36% increase in value but remains significantly lower than its all-time high of $0.044, reached on March 10, 2024.
Despite this, the token boasts a robust 24-hour trading volume of $37.6 million and holds a market cap of $49 billion, indicating strong liquidity and market interest.
Analyzing its recent performance, $BEAM’s relative strength index (RSI) stands at 47.11, a major jump from 31.88, thus indicating a balanced market sentiment.
This suggests potential for further growth as market conditions stabilize and investor confidence strengthens.
Amidst advancements in Web3 and gaming technology, $BEAM emerges as a promising choice for investors seeking high returns in the evolving cryptocurrency market.
Ton Coin ($TON)
TON Coin ($TON) serves as the native cryptocurrency of The Open Network (TON), a blockchain platform originally developed by Telegram.
Despite facing regulatory challenges that delayed its launch, $TON is designed to facilitate decentralized applications (dApps) and smart contracts within its ecosystem.
Utilizing a Proof-of-Stake (PoS) consensus mechanism, $TON ensures efficient and secure transactions while aiming for scalability to support various applications.
The TON Foundation’s ambitious vision is to empower 500 million users by 2028 through a Web3 ecosystem integrated into Telegram Messenger.
This ecosystem is envisioned to give users ownership and control over their digital identities, data privacy, and digital assets, fostering a decentralized and user-centric internet experience.
Currently trading at $8.02, $TON has demonstrated bullish signs. Per CoinMarketCap, $TON is up by 5.10% and has a substantial trading volume of $242.7 million over the past 24 hours.
The token’s market capitalization is $19.7 billion, reflecting its strong liquidity and market interest.
Technical indicators like the Relative Strength Index (RSI), which is approaching overbought levels at 63.38 from 55.29, suggest growing investor confidence and potential for further price appreciation.
While $ TON’s fundamentals, price analysis and technical indicators signal an impending bullish trajectory, some drivers solidify the token as the best crypto to buy now for both short—and long-term investors.
Recent advancements include the integration of Tether’s USDT stablecoin on the TON blockchain, improving its utility for seamless cross-border payments within the Telegram ecosystem.
@Tether_to’s USDt now available on #TON!
Making cross-border payments INSTANT, FREE, and as EASY as sending a text message for @telegram's 900M users.
TON Foundation offers 11M $TON in incentives
Check out this thread to learn more!
pic.twitter.com/yvqihsuBR9
— TON
(@ton_blockchain) April 19, 2024
The platform has continued to evolve. In June, the TON blockchain surpassed Ethereum in daily active addresses.
Recently, it announced that its cross-chain decentralized exchange (DEX) platform has grown to serve over 1 million users and process a daily transaction volume exceeding $43.4 million.
Many observers believe continued innovations and key partnerships will strengthen $TON’s use case and value across many industries.
Jupiter ($JUP)
$JUP is the native token of Jupiter, a prominent decentralized finance (DeFi) platform operating on the Solana blockchain. The platform is renowned for its role as a liquidity aggregator, which plays an important role in optimizing token swaps, perpetual futures trading, and managing decentralized stablecoins.
By aggregating liquidity from multiple exchanges, Jupiter ensures that users can access the best trade prices and sufficient liquidity across various decentralized finance protocols.
Currently priced at $0.85 per token, $JUP has demonstrated a 4.10% increase in value over the past 24 hours, reflecting ongoing market interest and trading activity. The token’s trading volume stands impressively at $86.6 million, underscoring its liquidity and active trading environment within the DeFi sector.
Despite trading 58.26% below its all-time high (ATH) of $2.04 (reached on January 31, 2024), its RSI shows promising signs of a bullish trend.
Furthermore, the asset’s RSI has climbed from 39.22 to 48.44, indicating a gradual shift towards bullish momentum.
Jupiter is widely recognized as a leading DEX aggregator globally, leveraging its strategic integration with the Solana blockchain to improve scalability, transaction speed, and overall user experience. It could thus be the best crypto to buy now.
As the ecosystem expands, $JUP presents a compelling investment opportunity for those seeking exposure to innovative DeFi solutions on a robust blockchain platform like Solana.
Unlock the Potential of Crypto Presales
The crypto market offers opportunities where a modest investment of $20 can potentially yield up to $1,000 in a short period, ranging from an hour to a few months.
Meme coins have historically been popular for delivering impressive returns. However, their price gains are often short-lived due to a lack of utility, which hinders sustainable growth.
In contrast, Web3-based tokens present a more reliable option. These tokens are underpinned by strong utility, enabling sustainable market trends and long-term price gains for early investors.
With over a hundred thousand crypto assets available, identifying the best investment choices can be challenging for any trader.
To assist investors, CryptoNews highlights the top presales with strong profit and growth potential.
These curated pre-vetted assets are designed to help you navigate the vast crypto landscape, make informed decisions, and maximize your returns.
15 Best Crypto Presales to Invest In
The post Best Crypto to Buy Now July 2 – Beam, Toncoin, Jupiter appeared first on Cryptonews.
