With major cryptocurrencies experiencing a price dip on Tuesday in wake of hotter-than-expected US CPI data that has seen markets pull back on Fed rate cut bets, investors looking for the best crypto to buy today are scouring the smaller altcoin market for outperformers.
Bitcoin (BTC) was last trading back in the $48,700s.
That’s down upwards of 3% from the two-year highs it hit earlier in the session near $50,400.
Ether (ETH), meanwhile, was last down close to 2% on the day but holding above $2,600.
Major altcoins like Solana (SOL), XRP (XRP), Cardano (ADA), Avalanche (AVAX) and Dogecoin (DOGE) were flat to down 4% over the past 24 hours, as per CoinMarketCap.
Many expect major cryptocurrencies like Bitcoin to remain short-lived.
That’s because net inflows into spot Bitcoin ETF products remain strong.
Indeed, inflows surpassed $400 million for a third consecutive day on Monday, as per Farside data.
While Bitcoin’s latest price dip could soon reverse, smaller altcoins may offer better near-term upside prospects.
Their comparatively lower market capitalization leaves greater scope for valuation growth than already well-established coins.
Moreover, their lower levels of liquidity mean that smaller buy orders can trigger larger upside price moves.
With that being said, let’s take a look at some of the candidates for best crypto to buy today.
Best Crypto to Buy Today
Akash Network (AKT)
Decentralized computing resource network Akash Network’s AKT token is up an impressive 7.5% in the past 24 hours.
That’s according to CoinMarketCap, who put the AKT price last at $3.45 with a market cap of nearly $800 million.
AKT’s latest rally has seen the crypto hit new more than two-year highs.
The cryptocurrency is eyeing a potential near-term 80% pump back to record highs above $6.0.
That could make it one of the best crypto to buy today.
Gnosis (GNO)
Ethereum-based decentralized prediction market Gnosis’s GNO token is pumping on Tuesday, hitting new all-time highs above $290.
As per CoinMarketCap, it was last just under $280 and up 6.6% in the last 24 hours.
GNO, whose market cap was last around $720 million, is up 3x versus November’s lows.
Its low market cap and strong use case suggest a good prospect of potential 10x gains.
GNO could thus be the best crypto to buy today.
Stacks (STX)
Smart-contract-enabled Bitcoin layer-2 network Stacks (STX) hit fresh two-year highs above $2.10 on Tuesday.
As per CoinMarketCap, it was last up 6% in 24 hours, with a market cap of now just over $3 billion.
As the leading network seeking to bring smart-contract capability to Bitcoin, Stack’s has huge potential to go a lot higher.
It could eventually even become a viable Bitcoin-based competitor to the likes of Ethereum.
That suggests that a $3 billion market is very modest and Stacks offers a good prospect of 10x gains.
Crypto Alternatives to Consider
Low-cap coins can offer huge potential returns but also come with a lot of risk.
For those looking for a better probability of near-term gains, an alternative high-risk, high-reward investment strategy to consider is getting involved in crypto presales.
This is where investors buy the tokens of upstart crypto projects to help fund their development.
These tokens are nearly always sold cheaply, and there is a long history of presales delivering huge exponential gains to early investors.
Many of these projects have fantastic teams behind them and a great vision to deliver a revolutionary crypto application/platform.
If an investor can identify such projects, the risk/reward of their presale investment is very good.
The team at Cryptonews spends a lot of time combing through presale projects to help investors out.
Here is a list of 15 of what the project deems as the best crypto presales of 2023:
See the 15 Cryptocurrencies in Presale
The post Best Crypto to Buy Today February 13 – AKT, GNO, STX appeared first on Cryptonews.
