Bitcoin may be stealing the headlines after crossing above $50,000 for the first time since late 2021 on Monday, but for investors looking to turn a quick profit, smaller altcoin rivals might be the best crypto to buy today.
Amid optimism about spot Bitcoin ETF inflows, the Bitcoin price was last trading just under $50,000, up 3.5% on Monday.
As per CoinShares, spot Bitcoin ETFs saw $1.1 billion in net inflows last week.
Meanwhile, AUM held by the newly launched nine spot Bitcoin ETFs (excluding Grayscale’s converted GBTC) exceeded $10 billion last week.
Ether (ETH), meanwhile, was last up just over 4% on Monday and back above $2,600.
Fellow top 10 coins Solana (SOL), Cardano (ADA), Avalanche (AVAX) and Chainlink (LINK), meanwhile, were trading with gains between 1-3% over the past 24 hours, as per CoinMarketCap.
The release of US CPI data on Tuesday could trigger crypto market volatility.
That depends on how it impacts Fed rate cut expectations.
While the pump in blue-chip cryptocurrencies could continue in the coming sessions, smaller altcoins could experience larger comparative gains.
Smaller market capitalizations and lower levels of liquidity make it easier for increased buy pressure to raise a crypto’s price.
Here are some of the best crypto to buy today.
Best Crypto to Buy Today
Beam (BEAM)
Decentralized gaming network Beam (BEAM) is up over 13% in the past 24 hours, as per CoinMarketCap.
That pump has seen the token claim a market cap of nearly $1.5 billion.
BEAM was last at record highs near $0.030.
Its recent break above December 2023 highs around $0.027 has opened the door a surge higher.
BEAM could easily hit a market cap of $5 billion or more.
The prospect of 3-4x gains could make BEAM the best crypto to buy today.
Immutable (IMX)
NFT-focused Ethereum layer-2 scaling solution Immutable (IMX) just hit its highest level since February 2022.
IMX was last up 13% in 24 hours, as per CoinMarketCap.
At $3.13, IMX is now up over 8x versus its late 2022 lows under $0.40.
The cryptocurrency’s strong momentum suggests a strong chance of a rally back to 2021 highs at $5.80.
The prospect of 85% near-term gains back to record levels could make IMX the best crypto to buy today.
ORDI (ORDI)
As Bitcoin hits fresh multi-year highs above $50,000, the Ordinals protocol (ORDI) token is pumping.
Ordinals protocol is built on top of the Bitcoin blockchain and allows for the minting of NFTs and other assets.
ORDI was last up 11% in the past 24 hours, as per CoinMarketCap.
The token is eyeing a retest of the record highs it hit in early January above $90.
That could market gains of over 30% from current levels just under $70.
Hence, ORDI could be one of the best crypto to buy today.
Crypto Alternatives to Consider
All of the above coins offer potential investors a chance to make 10x gains.
But, 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 startup 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 unique 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
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