As Bitcoin continues to make repeated attempts at the $69k all-time high again, the altcoins market is starting to gain traction. It is an indicator that investors expect Bitcoin to break the $69k resistance and uplift the altcoins market to new highs. With such prospects, investors may ask themselves, what is the best altcoin to buy today?
This is the question that we tackle in-depth in this article. We shift through the many altcoins in the market today to cut the workload for you and get you straight to investing. To select these high-potential altcoins, we have focused on altcoins that have big news around them or currently have the media spotlight on them.
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The idea is that now that the entire crypto market is showing signs of a bullish explosion, most of the money will go where big news is going on. Investors generally expect such cryptocurrencies to improve due to the sudden upsurge in buying volumes.
Best Altcoin to Invest in Today
In this article, we look at top altcoins with big news around them that could propel them to new heights both today and going into the foreseeable future.
The article takes a look at Ethereum’s upcoming upgrade that comes just a day after Ethereum staking for institutional investors will be offered in Europe, Solana’s rally as the date for the launch of Solana institutional staking in Europe is announced, and Fetch.Ai’s rally ahead of the upcoming NVIDIA AI conference.
The article also looks at Render Token’s and Near Protocol’s rising momentum because of the same meeting and the general enthusiasm around AI.
Ethereum (ETH)
Ethereum (ETH) is one of the top cryptocurrencies that is showing signs of a bullish breakout. Despite the overall market volatility in the last few days, Ethereum is edging higher and is close to breaking the $4k level.
At the moment, many factors will likely push Ethereum to prices above $4k in the short term. Next week, Ethereum will have a confluence of two powerful news stories that will likely see investors FOMO into Ether.
On March 12, Ethereum staking instruments will become operational for European institutional investors through the SIX Swiss Exchange. This is a big deal as it points to the maturity of Ethereum as an investable asset. Then on March 13, the much-awaited Dencun upgrade, is set to reinvigorate the Ethereum ecosystem by making it cheaper to buy and sell tokens on Ethereum layer 2s.
EIP-4844 is a price target.#DENCUN #EIP4844 #ERC4844 https://t.co/vRagXM580F pic.twitter.com/XZ5QWcRt6d
— $Dencun|EIP-4844 (@DencunErc20) March 2, 2024
A confluence of these factors makes Ethereum a high-potential cryptocurrency to buy now, as the potential to hit prices as high as $5k in a week becomes increasingly high.
Solana (SOL)
Solana (SOL) is another top layer 1 cryptocurrency that has been gaining much momentum lately. Solana’s price has gained traction since it pushed through $120, and a lot is happening that could see the price head higher.
Like Ethereum, Solana will have its staking product designed for institutional money and make its debut at the SIX Swiss exchange on March 12. This means that next week, a lot of attention will be paid to Solana, a factor that could see it break the $200 mark soon.
EXCLUSIVE: Figment and Apex Group set to launch Ethereum and Solana staking ETPs https://t.co/BkAzS1QEBY
— The Block (@TheBlock__) March 7, 2024
Besides the news on the upcoming staking solution in Europe, Solana is gaining much attention as one of the best launch platforms for meme coins. Several highly successful meme coins have already launched on Solana, and the numbers keep increasing. As investors look to meme coins as a pathway to wealth, the activity level on the Solana will likely see the price make new highs sooner rather than later.
Fetch.ai (FET)
Fetch.ai (FET) is one of the best-performing cryptocurrencies in the past week, gaining by more than 400%. FET, like other AI tokens, Fetch.ai has recorded strong growth as the AI wave sweeps across the financial markets.
Fetch.ai has also been given a boost by its adoption by high-profile companies. Recently, Fertch.ai inked deals with top companies like Bosch and Deutsche Telekom to help them advance their AI ambitions.
We are proud to announce that @peaqnetwork has joined the https://t.co/kJ9URVpOul Foundation, paving the way for AI-enhanced decentralized automation for #DePIN 🤖
Read all the details in their latest post 👇 https://t.co/1TPnH8uQ22
— Fetch.ai (@Fetch_ai) March 7, 2024
Besides this growing adoption, investors are keenly following Fetch.ai, thanks to the upcoming NVIDIA AI conference on March 18. If big AI news is made that day, FET could easily make news highs and be headed to prices above $10.
Render (RNDR)
Render (RNDR) is another top-rated AI cryptocurrency making waves today. In the last 24 hours, Render Token has gained by over 30%, making it one of the best-performing cryptocurrencies of the day.
🚨 $RNDR Whale Alert
272,997 $RNDR tokens have just been withdrawn from Coinbase!
A $7.4 $RENDER won’t stop the whales,
They keep accumulating 🚀🌕 pic.twitter.com/xK2OM05gnn
— D0c Crypto ⭕️ (@TheRealD0c) March 4, 2024
Render is a distributed GPU rendering network that has been found to be very useful in the age of AI. This has seen Render Token’s significant adoption as more AI cryptocurrencies gain favor with investors.
Investors are also keenly watching Render Token due to the upcoming NVIDIA conference. If any news is made about a major breakthrough in GPU technologies, it could send Render Token rocketing, adding significantly to the momentum it has built so far.
Near Protocol (NEAR)
Near Protocol (NEAR) is a layer-one cryptocurrency that aims to solve most of the problems that most L1s have today. These include scalability and interoperability. These features have given Near Protocol a strong use case in democratizing AI.
Near was founded by an AI expert who has pushed the project into the field of AI with potential use cases in areas such as provable provenance of data. Near Protocol also has use cases in other AI aspects, such as the credibility of data validators through on-chain IDs.
These use cases, alongside a founder recognized in the AI landscape, make Near Protocol one of the most-watched AI cryptocurrencies. Like the other AI cryptocurrencies discussed here, it could benefit immensely from the AI hype around the upcoming NVIDIA AI conference.
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