What’s the best cryptocurrency to buy today? This is a question on many investors’ minds, especially now that the crypto market is showing increased activity. The good news is that, by the end of this article, you will have a good idea of the best cryptocurrency to buy now for maximum returns.
To ensure that anyone reading this article gets the most value, the article focuses on cryptocurrencies with big news around them and those whose core metrics point to long-term value growth. The goal is to ensure investors can make moves based on solid information for a volatile market such as crypto.
Best Cryptocurrency to Buy Now
The primary focus of this article is to find crypto assets that are currently making headlines. These are cryptos whose news and other metrics could see them outperforming the market now and in the long run. For context, the article touches on the growing activity within the Ethereum network, the hype around GME as it reignites memories of the 2021 GameStop short squeeze, and LCX, especially with the excitement around the coming into effect of new crypto regulation in Europe.
But that’s not all, the article also touches on ZetaChain’s mainnet launch and PepeFork, a meme coin attracting a lot of social media buzz.
Ethereum (ETH) continues to be the most dominant smart contracts chain despite the rise of many competitors. It is currently the second-largest cryptocurrency in the world, with a market capitalization of $272.409 billion. Ethereum is down by 1.06% within the day, but it still holds steady above $2200.
This drop can be attributed to external factors, as Ethereum’s core metrics are strengthening. For instance, data by Santiment shows that Ethereum network activity is rising. The data shows that Ethereum now has around 484k new addresses transacting within the network daily. The new addresses are either doing routine send-and-receive transactions or interacting with the many Dapps that run on the Ethereum network.
The growing network activity is also coming when Ethereum is undergoing a major upgrade. The upgrade, still in the testnet, could see Ethereum achieve up to 100k transactions per second once it goes live.
With its market dominance in Dapps and trigger factors for bullish sentiment, Ethereum is a cryptocurrency worth watching.
Read More: Ethereum Price Prediction & Forecasts
GME has recorded a significant increase in price in the last 24 hours, rallying by 70%. Volumes are up by over 50%, positioning GME at #101 in terms of crypto volumes in the last 24 hours.
🚨 BREAKING – $GME $84M MARKET CAP WITHIN 4 DAYS! 🏆
Theres so much to keep track of so here a break down of the last 24 hours –
💎 14,270 diamond hand chads
🏆 26.6M IN VOLUME
📝 250,000 posts made on twitter with hashtag
🌍 #GME is trending GLOBALLY
🎙️ 3,800… pic.twitter.com/LUzMmVz60u
— Gotham.Eth (@Gotham_ETH__) February 1, 2024
GME is attracting a lot of investor attention because it is returning the nostalgia of the GameStop stock in 2021. At the time, a short squeeze saw investors mint millions as GameStop rallied to new all-time highs. With the nostalgia around this event, investors are piling money into GME tokens, and the same is reflected in the price.
Since the GME token is running on the Solana blockchain, and there is a lot of hype around Solana meme coins, it could continue to draw in more investors in the foreseeable future. It is one crypto that investors are keeping an eye on now.
LCX has seen a surge in investor interest in the last 24 hours. This follows the coming into effect of the MiCa crypto regulation in Europe. Investors feel the clarity the regulation brings could benefit cryptocurrency exchanges already regulated in Europe.
Since LCX is one of the most regulated cryptocurrencies in the EU, investors are bullish that its utility token LCX could do well in the short to medium term.
Besides the possible regulation boost, investors are attracted by LCX’s tokenomics and currently low market capitalization. LCX has a total supply of 950 million, which is quite reasonable by crypto standards. Also, LCX’s low market cap of just $273.175 million gives it significant room for growth in a bull market.
With the trading volumes rising, as LCX investors expect it to repeat what Binance coin did – rising from cents to over $500 – upside momentum could keep going up.
ZetaChain (ZETA) is currently in the middle of some big news. On the one hand, there is the ZetaChain mainnet launch, which has gone live today. On the other hand, there is the listing of ZetaChain on Kucoin. Even more interesting is that Kucoin is running a promotion to celebrate the listing and is offering up to 20k ZETA tokens in price.
ZetaChain ( $ZETA ) Moonsheet 🚀
— GMB LABS (@GMB_LABS) January 31, 2024
With the mainnet launch, investors expect developers to take advantage of its cross-chain feature. The idea that you can handle transactions between chains while using one contract will likely significantly drive up developer activity in the ZetaChain ecosystem.
All these positive expectations around ZetaChain have been reflected in the price of ZETA tokens in the last 24 hours. In this period, the token has rallied by 64%, making it one of the best cryptocurrency performers on a relatively slow day in the crypto market.
Read Also: Will ZETA Reach $10?
PepeFork is one of the top trending meme coins at the moment. This is showing up quite well on its price. The token is currently up by 111%. Trading volumes are up in the day, too. They have increased by 24% to stand at $63.33 million.
This exponential price increase has triggered FOMO, making PORK one of the hottest cryptocurrencies.
It is also interesting to note that the founder of this meme coin had another meme coin that did quite well. This could be a good choice for investors who love to capitalize on meme coin’s parabolic moves, just like the last one he had.
Also, since this meme coin has a reward mechanism for simple token swaps, it is likely to keep drawing in speculative investors. A confluence of positive factors makes PORK a hot cryptocurrency worth watching.
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