Cryptocurrency markets are buoyant on Friday in the wake of Fed Chair Jerome Powell’s opening the door for imminent rate cuts. Traders are parsing altcoin markets for the top crypto performers today who might be able to deliver them the fastest gains.
Federal Reserve Chair Jerome Powell laid the groundwork Friday for interest rate cuts ahead, though he declined to provide exact indications on timing or extent. https://t.co/xe3ScXNRXG pic.twitter.com/wFvAaAdD6u
— CNBC (@CNBC) August 23, 2024
Bitcoin (BTC) just broke above $62,000, which could lead to a move higher towards $70,000.
The world’s largest crypto was last up 3% in 24 hours, per CoinMarketCap. Other crypto majors like Ethereum (ETH), BNB (BNB), and Solana (SOL) were up 1-3% over the same time period.
That’s not bad, but it certainly doesn’t rank them amongst the top crypto performers today.
Rather, smaller, lesser-known altcoins are stealing the limelight on Friday.
Let’s look at some top crypto performers today that traders will watch.
Top Crypto Performers Today – Which Cryptos Are Rising the Fastest?
Sui (SUI)
Up-and-coming layer-1 protocol Sui (SUI) tops the list of top crypto performers today.
Per CoinMarketCap, SUI was last up 20% in 24 hours, rising above $1 again for the first time in 10 days.
The token is eyeing a retest of its August highs at $1.11 and its 200DMA at $1.19.
A break above here would open the door to a swift rally back to yearly highs above $2.18.
The prospect of a quick 2x+ rally means SUI potentially ranks as one of the best cryptos to buy now.
Popcat (POPCAT)
Viral new Solana meme coin Popcat (POPCAT) is staging a strong comeback.
POPCAT was last up around 17% in 24 hours, per CoinMarketCap, as it closes in at $0.70. That makes it another one of the top crypto performers today.
It has now been up over 50% since Thursday’s trade began.
Having broken back above its 50DMA, POPCAT could soon retest record highs near $1.0.
That would only give it a market cap of $1 billion. There is plenty of room left for growth, suggesting POPCAT could be the best meme coin to buy now.
Artificial Intelligence Alliance (FET)
The Artificial Intelligence Alliance (FET), a merger of the Fetch.ai, Ocean, and SingularityNET AI tokens, is another top crypto performer today.
FET burst 17% higher on Friday, per CoinMarketCap, to rally above its 50DMA for the first time since May.
At $1.15, FET is still down 67% versus the record highs it printed at $3.50 in late March.
As a major leader in the AI crypto space, FET could be a bargain at its current market cap of just under $3 billion.
All of the above coins potentially rank as the best crypto to invest in right now for the long term.
That’s because all have the potential to be 5-10x this bull market.
That said, some traders with a higher risk tolerance will seek higher upside potential than these top crypto performers can offer.
Meme coin presales are a great way to potentially bag 100x gains.
Of course, this investment style is highly risky. Traders are reminded they must do their research and not risk more than they can afford to lose.
Here are some of Cryptonews.com’s top 100x potential plays right now.
Next 100x Crypto – These Coins Could 100x in 2024
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