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Best Cryptos To Buy on April 5 – Bitcoin, Solana, Toncoin

AuthorKamal Masri
Financial Market Expert
Fact Checked by Wajeeh Khan
Last updated: April 05, 2024
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Best Cryptos To Buy on April 5

The cryptocurrency market continues its directionless trading this Friday. This is indicative of accumulation ahead of a potential breakout. As such, this market phase presents an opportunity to buy into high-potential cryptocurrencies that could do well once the market turns bullish again. At this market phase, investors may wonder, which is the best cryptocurrency to buy today in anticipation of a market breakout?

This is the question we seek to answer in this article. The article focuses on cryptocurrencies whose fundamentals give them the potential to do well once bulls take complete control of the market. Thanks to their strong use cases, these cryptocurrencies could see a pump before the other altcoins follow suit in an all-out bull market that historically could start soon and run to 2025.

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Best Cryptos To Buy Today Today

In this section, we look at cryptocurrencies that offer a perfect opportunity to invest now that they are still range-bound. The article looks at Bitcoin, whose halving is two weeks away; Bitcoin Cash, now trading post-halving and its hash rate rising; and Solana’s strong position as a launch platform for meme coins.

Additionally, the article touches on Jupiter, which has become the go-to platform for trading meme coins and now regularly outperforms Unis wap is in daily trading volumes, and Toncoin, which holds lots of potential due to the rising adoption of Ton blockchain for launching tokens. 

Bitcoin (BTC)

Bitcoin (BTC) continues trading in a narrow range, but there is growing consensus across the market that a bullish breakout is imminent. That’s because the Bitcoin halving is now only two weeks away, and historically, Bitcoin has triggered price rallies that have seen Bitcoin up to 3X in value. 

This halving presents even better odds than previous halving cycles because of the strong demand from institutional investors and governments.

Institutional demand is evident in the ETF inflows and the fact that banks are now contacting miners directly to try and buy as much Bitcoin as they can before the halving. This means once the supply shock kicks in post-halving, Bitcoin could be headed to prices as high as $400k. This makes it a perfect cryptocurrency to start accumulating now that it is trading in a narrow range between $65k and $70k. Once the breakout happens, investors will be chasing the price, which means lower potential returns. 

Bitcoin Cash (BCH)

Bitcoin Cash (BCH) is a fork of Bitcoin that recently had its block-halving event. Like the Bitcoin halving, the Bitcoin Cash halving has tended to do well post-halving and will make new highs. It has been one of the best-performing cryptocurrencies in the last 30 days, as halving hype pushed it to a high of $700. 

However, it has since slowed down, bogged down by the sluggish performance across the market. The hash rate had decreased slightly as some miners shifted to Bitcoin for the higher mining rewards. However, the rate is picking up again, and with the Bitcoin halving set to reduce Bitcoin rewards set to be cut to BCH levels in two weeks, Bitcoin Cash could see a spike in the hash rate again.

This and the fact that demand is now chasing an increasingly small supply of Bitcoin Cash means the odds of a price rally are higher than ever. The decrease in mining supply and a potential uplift of the entire market by Bitcoin could see BCH hit new highs in the coming months. Some analysts project that Bitcoin Cash could test $5000 or more. This makes BCH a high-potential crypto now that the price is calm.

Solana (SOL)

SOL is another top cryptocurrency that has dipped slightly and makes for a good buy at current prices. Solana is a good buy today because of its increasingly important role as a launch platform for new tokens. 

Most of the meme coins in the market today are Solana-based, giving Solana the potential for parabolic gains once the cryptocurrency bull run kicks in. With the current growth in Solana adoption, some analysts are projecting that Solana could be headed to prices above $2000 in a bull rally. This makes it a highly undervalued cryptocurrency to buy now. 

Toncoin (TON)

Toncoin (TON), like Solana, is a cryptocurrency that has become increasingly popular because of its token launch platform. The Ton blockchain is gaining popularity due to its low fees and scalability, which rivals centralized platforms such as Visa. 

Since TON is the cryptocurrency used within the Ton blockchain, the odds are high that it will gain in value over time due to these demand dynamics. Toncoin has a strong use case in the Telegram ecosystem. Recently, the Telegram team announced that it would be sharing revenues with channel creators and that the payments would be made in TON tokens. This makes TON a high potential to buy in consolidation ahead of the next bull run. 

Jupiter (JUP)

Jupiter (JUP) is the largest of the decentralized exchanges that run on the Solana blockchain. This has seen it become the leading platform for trading meme coins, and its daily trading volumes now regularly outpace those of Uniswap, Ethereum’s largest decentralized exchange. 

Since meme coins are among the cryptocurrencies that will perform best in the coming bull cycle, the Jupiter ecosystem could see an exponential surge in demand going forward. By extension, this means the demand for Jupiter tokens will shoot higher.

Given that Jupiter only has a market cap of $1.79 billion despite the fast-growing adoption of the DEX, the odds of a parabolic price run are pretty high. With the potential to hit highs of $10 or more, JUP is, without a doubt, a hot cryptocurrency to buy now while it is still rangebound.

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