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Top Cryptocurrencies To Buy On April 16 – Bitcoin, Ethereum, Toncoin

iclAfter a slight correction earlier in the day, the cryptocurrency market is making a rebound, with many top cryptos bouncing off key support levels. This indicates that the upside momentum built up yesterday will likely continue today. This leads to the question, which is the best cryptocurrency to buy the dip today?

This is the question that this article seeks to answer. The article focuses on cryptocurrencies with solid fundamentals, big news, and enough hype to help trigger another significant price rally. Cryptocurrencies that fit these metrics will likely lead the way in gains as the market gears up for another leg up today. 

Best Cryptocurrencies To Buy On April 9

This article touches on cryptocurrencies that offer the potential to provide the highest ROI as bullish sentiment returns to the market. The article touches on Bitcoin’s rising demand as the halving is now only ten days away, Ethena’s potential as it enters into partnerships that will strengthen its ecosystem, and Near Protocol’s rising prominence as one of the top AI cryptocurrencies in the market today.

The article looks at Toncoin’s potential as investors increasingly embrace tokens coming off the Ton blockchain and DogWifHat’s potential as a top meme coin, thanks to its impressive tokenomics.

Bitcoin (BTC)

Bitcoin (BTC) has bounced off a critical support level in the last few hours. It indicates that the underlying demand for Bitcoin is quite strong at prices around $70k. Looking ahead, the odds are high that Bitcoin will keep surging and could be headed to prices as high as $100k soon.  

The key reason for this is the upcoming Bitcoin halving, which is only ten days away. The expectations around the halving are so high that it is now one of the top trending topics across social media.

This indicates that, as the halving draws nearer, more money will flow into Bitcoin, compared to what has happened in recent weeks. This and the halving impacts of Bitcoin’s demand and supply dynamics give Bitcoin significant upside potential, especially between now and May.

Some analysts project that Bitcoin could be headed to prices as high as $300k in this bull cycle. It easily stands out as an undervalued cryptocurrency to buy now. With all the institutional demand in Bitcoin, such predictions could come true pretty soon.

Ethena (ENA)

Ethena (ENA) is another top cryptocurrency with impressive recent growth. Anyone who bought Ethena a week ago has doubled their investment at today’s prices. The multiple good news stories from the Ethena ecosystem drive this excitement around ENA. 

For instance, Ethena has announced a partnership with FRAX, one of the DeFi teams in the market, to help deepen liquidity. Similarly, the Ethena team announced that the MakerDAO team had pushed their allocation to Ethena Labs with an extra $100 million and was set to increase their allocation to $600 million. All this comes at a time when USDe is emerging as the fastest-growing USD-denominated asset in the market today.

All these developments put Ethena at the forefront of DeFi, which has been reflected in the price of ENA so far. As Ethena Labs continues to announce more of these strategic moves, the odds are that the price of ENA will keep going up. Some analysts are projecting that ENA could soon be headed to prices as high as $2. This makes Ethena one of the top cryptocurrencies to buy and hold today. 

Near Protocol (NEAR)

Near Protocol (NEAR) has bounced back faster than most cryptocurrencies today and shows strong upside momentum. It is an indicator that Near could be one of the best cryptocurrencies once the Bitcoin halving triggers a bull rally across the market. 

Besides the hype around the Bitcoin halving, Near Protocol is in a market segment with a lot of potential for explosive growth this cycle. Near Protocol is an AI cryptocurrency, and AI is a key growth driver across markets.

Now that there is confusion around three of Near Protocol’s competitors looking to merge, NEAR could draw in most of the volumes coming into AI cryptos. It is a hot AI crypto to buy today.

Toncoin (TON)

Toncoin (TON) is one of the top-performing cryptocurrencies this year and is not slowing down. Despite a slight dip today, Toncoin is still outperforming most cryptos today. TON recently pushed through its all-time highs, and with the current moment ahead of the Bitcoin halving, it could quickly be headed to prices above $20 soon. 

Toncoin’s momentum has a lot to do with the rising demand for the Ton blockchain. Thanks to its scalability, low fees, and decentralization, the Ton blockchain has become a platform of choice for launching Dapps, with many successful memes now coming off the Ton blockchain. Since TON is the native token of the Ton blockchain, the growing demand for the Ton blockchain means the demand for TON is going up.

At the same time, Telegram has recently given Toncoin massive utility by integrating it into the social messaging platform. All these demand drivers mean TON could be headed to higher prices and is an undervalued cryptocurrency to invest in now. 

DogWifHat (WIF)

DogWifHat (WIF) is one of the top-performing meme coins this year, and momentum is not slowing down. After a slight dip earlier in the day, DogWifHat is in the green again, an indicator that the underlying demand is strong. 

Looking ahead, DogWifHat is likely to keep drawing more investors than most new meme coins entering the market. That’s because it has already built credibility in the market thanks to its price action this year. DogWifHat has impressive tokenomics, giving it significant room for growth as Bitcoin drives the market into the next bull rally. With the potential to do 20X or more, DogWifHat is a top cryptocurrency to invest in today.