Ethereum (ETH) is a notable out-performer of the major cryptocurrencies on Monday, up 4% in the past 24 hours according to CoinMarketCap, potentially ranking it as the best crypto to buy now.
ETH, the second-largest crypto by market cap, rallied back to test $2,700 on Monday, its highest level since mid-August.
Despite decent gains, Ethereum was far from the best-performing coin in the top 100 cryptos.
Indeed, many smaller, lesser-known altcoins saw double-digit gains on Monday as risk appetite rose.
Last week, the US Federal Reserve cut interest rates by 50bps for the first time since 2020, more than many on Wall Street had anticipated.
And various Fed policymakers spoke out in favor of the Fed’s easing stance on Monday.
Financial market liquidity measures have already improved to their best levels in years.
The NY Fed released a report on Monday suggesting that US treasury market liquidity was at its best since 2021.
US Politics Also a Tailwind?
US politics might also be acting as a tailwind. US Vice President and Democratic presidential nominee Kamala Harris recently made her first comments on crypto, and they were positive.
NEWS: VP Harris says at a fundraiser on Wall St. that she "will encourage innovative technologies like AI and digital assets while protecting our consumers and investors."
— Jennifer Epstein (@jeneps) September 22, 2024
Harris is the betting market favorite to win the US presidency come the November election, per Polymarket.
Kamala Harris' odds are up to 4% ahead in Pennsylvania. pic.twitter.com/4YeXO05LvL
— Polymarket (@Polymarket) September 23, 2024
Republican nominee and former President Trump are seen as the more pro-crypto candidate of the two, but markets should note both candidates taking a more pro-crypto stance.
If Bitcoin (BTC) can break above its 200DMA at $64,000, this could inject new momentum into the broader market.
And while Bitcoin and Ethereum are strong candidates for the best crypto to buy now, smaller altcoins could deliver faster gains.
Here are some strong performers on Monday who might outperform the market in the coming weeks and months.
Best Crypto to Buy Now – Which Are They?
Decentralized machine learning network Bittensor (TAO) is charging higher on Monday, gaining 17.5% in the past 24 hours, according to CoinMarketCap.
That has seen TAO charge into the $540s, its highest since April, and once again reach a market cap of $4 billion.
If the Fed has triggered a new parabolic stage of the ongoing crypto bull market, then TAO could be a prime candidate to continue outperforming.
That’s because it is one of the leading AI cryptos, ranking it as one of the best crypto to buy now.
Elsewhere, the decentralized data storage network Arweave (AR) is another top gainer today.
According to CoinMarketCap, AR was last trading with gains of around 16% in the past 24 hours near $22.50.
Those gains have seen AR push to the north of its 50DMA in the $21s.
AR could soon retest its late-August highs in the $27.50 area.
That could make it the best crypto to buy now for quick gains, though AR also has a lot of long-term potential as one of the top data storage/availability cryptos out there right now.
The final crypto worth noting today is the new Solana meme coin Popcat (POPCAT).
Per CoinMarketCap, POPCAT was last up 15% in the past 24 hours and came within a whisker of hitting $1.0 earlier in the session, which would have matched its July record highs.
With Fed rate cuts expected to come thick and fast and financial conditions set to continue easing in the weeks ahead, meme coin season could soon return.
A coin like Popcat could be one of the best crypto coins to buy and take advantage of.
Alternative to Consider – Crypto Presales
The above coins might all rank as the best crypto to buy now.
However, traders looking for gains in excess of 5-10x will need to look for smaller, newer, and lesser-known cryptos.
One of the best ways to get in early on crypto before its market cap explodes is to get in at the presale stage.
Presales are risky, but if an investor can identify a high-potential project that goes on to gain traction, they stand to make huge gains.
Analysts at Cryptonews.com monitor the crypto presale market closely.
Here are some of their favorite projects right now that might offer investors strong returns.
17 Best Crypto Presales to Invest In Now
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