The crypto market is relatively quiet today, with little signs of how it could trade next. Under these circumstances, the average investor may need clarification about what to buy and why.
The most important question an investor would need an answer to under current conditions is, which is the best crypto to buy now to profit in a bullish breakout? This is the question that this question seeks to answer in a detailed yet easy-to-understand manner.
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To ensure you get the most value, we have focused on cryptocurrencies making headlines and whose prices are showing significant movement.
This article aims to ensure that an investor can take advantage of such cryptocurrencies and magnify the odds of a good trade.
Best Cryptocurrency To Buy Now
This article touches on the top trending cryptocurrencies that are drawing in the most attention online. It touches on Bitcoin’s consolidation around $42k, Mantra’s rally on the expectation of institutional investments, and Pyth Network’s positioning as a Chainlink competitor. The article also touches on the MEMEAI pump driven by a perceived connection to Elon Musk, and Myro’s rally as investors anticipate another rally in Solana meme coins.
Bitcoin (BTC)
Bitcoin (BTC) is the primary determinant of the overall cryptocurrency market direction. This automatically makes it one of the most watched by investors who want to invest in it or any other cryptocurrency. When writing this article, Bitcoin was up 1.42% to trade at $43,032. Its market cap when going to press was $844.32 billion.
Despite pushing back through $43k intra-day, Bitcoin is still stuck between $43620 and $42790. Bitcoin has traded in this range for over a week, an indicator that it is consolidating, with a potential breakout in the short term.
Asset management firm #ArkInvest has highlighted four major catalysts that will drive the price of #bitcoin this year. $BTC https://t.co/w5Ag49iGc3
— Bitcoin.com News (@BTCTN) February 4, 2024
A key factor that many analysts expect to trigger a bullish breakout for Bitcoin is the coming halving, which is getting closer by the day. Since the halving is expected to trigger a supply shock in Bitcoin, investors expect it to open the floodgates that could push BTC to $100k plus.
As long as Bitcoin price remains above $42k, it is a cryptocurrency worth watching.
Mantra (OP)
Mantra (OP) has been gaining consistently for the past month, and that momentum is accelerating. In the last 24 hours, Mantra has gained 36.24% to trade at $0.1739. Volumes have shot up by 265% to stand at $112.547 million. Following the last 24 hours of gains, Mantra has a market capitalization of $138.025 million.
The increasing bullish momentum around Mantra signifies confidence in the crypto, and investors expect even better returns in the coming days.
Given that Mantra is focusing on making DeFi more attractive to institutional money, investors expect it to be a major crypto to watch in the next bull run. That’s because, unlike in the past, institutional money is more appreciative of cryptocurrencies, especially those that are regulatory compliant.
Mantra is also selling itself as one of the best DeFi cryptocurrencies for staking. Going by the momentum it has gained in recent weeks, there is reason to believe that the market is listening. It has the potential to deliver superior returns in the year.
Pyth Network (PYTH)
Pyth Network sustains the momentum it has built over the past week. Pyth Network was up by 2.92% when writing this article and had hit a market capitalization of $761.799 million.
Builders build in bears are #PoweredByPyth 🔮
Congratulations to @Lifinity_io for surpassing $10B in total volume https://t.co/XFY97t6nPH
— Pyth Network 🔮 (@PythNetwork) February 3, 2024
Investors are increasingly drawn to Pyth Network as the cryptocurrency that could give Chainlink a run for its money in the data oracles market. Pyth Network is already showing potential in this direction. One such pointer is that it gets its data from some of the largest financial institutions in the market today. This gives it credibility as a go-to financial data provider.
Pyth Network has also distinguished itself in its ability to scale and adapt to market changes. It can handle more transactions than Chainlink, and can also make real-time updates. This ensures the network is always up to speed with the market requirements.
Going by the attention, Pyth Network is receiving for its core fundamentals, there is no doubt that it is a cryptocurrency worth your attention today.
Meme AI (MEMEAI)
Meme AI has made a mark in the market today, with a rally that has defied most of the crypto market. In the last 24 hours, Meme AI has rallied by 20% to trade at $0.001733. It currently has a market capitalization of $1,262,017.
Like all meme coins, Meme AI is driven by hype. However, it is the nature and strength of the hype that determines whether a meme coin is a worthy investment or not.
On this front, Meme Ai is quite a solid bet. It is a meme coin inspired by Elon Musk, one of the most influential people in crypto. Sometimes, meme coins have made investors money by simply rallying around something Musk tweets on X.
As such, now that this meme coin has gained the attention of the broader market after its latest pump, money could start flowing in the short term. It’s a trending meme coin worth considering as a potential investment.
Myro (MYRO)
Myro (MYRO) is a Solana-based meme coin that has been doing quite well in the last 48 hours. In this period, Myro has gained by more than 70% to its current price of $0.082. Myro currently has a market capitalization of $77.36 million.
Besides the return of attention towards Solana-based meme coins, Myro has several factors that give it an advantage as a potential top gainer. One of them is its low market capitalization. Myro’s market cap of $77 million is quite low compared to most significant cryptocurrencies. This gives it more room for expansion as FOMO kicks in.
This makes Myro a potentially good cryptocurrency to buy now, even after its recent pump.
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