Like the rest of the financial markets, the cryptocurrency market is calm today. This is mainly because investors are awaiting CPI data from the US later today. But this calm also presents a perfect opportunity for investors looking to accumulate cryptocurrency with good prospects of doing well in the future. With this background in mind, it is only natural to wonder, which is the best cryptocurrency to buy today?
This is the question that we seek to answer in this article. The focus will be on cryptocurrencies showing promise based on either big news around them or upcoming market factors that could see them explode in value once market activity returns to levels it has tested in the past week. The idea is to ensure that investors can get into high-potential cryptocurrencies that have the potential to outperform the market now that it is in the early stages of the next bullish Supercycle.
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Top Cryptocurrency To Buy Today
In this section, we zero in on the best cryptocurrencies to buy now for explosive growth potential. We look at Toncoin’s potential now that Telegram’s founder has said an IPO is in the works, Ethereum’s price potential now that the Dencun upgrade is only 24 hours away, and XRP’s upside potential as hype builds up. The article also touches on Bitcoin’s potential now that the price is holding firmly above $41k and FLOKI’s potential price action as FOMO continues to build up.
Toncoin (TON)
Toncoin (TON) is one of the best-performing cryptocurrencies today. With a major price move expected after the US CPI data filters into the financial markets, Ton is a cryptocurrency to watch. That’s because if there is an upside breakout in the market, Toncoin could go parabolic based on the momentum it has built so far.
🔈 @durov announced that @telegram broadcast channels in nearly 100 countries will be receiving ad RevShare payouts in $TON! This marks a significant step towards putting crypto in every pocket.
Why is this a game-changer? 🧵👇 pic.twitter.com/TCJPacPCJD
— TON Community News (@Toncoin_Army) February 29, 2024
There is also so much going on in the Telegram ecosystem that has the potential to send TON rocketing. One of them is the recent announcement that Telegram will start sharing revenues with creators, and that all payments in the Telegram ecosystem will be using TON tokens. Even bigger news is that the Telegram CEO said the platform now has 900 million users and is preparing for an IPO. This is likely to drive a lot of investors to buy TON, and the demand could see the token hit unprecedented new highs.
Ethereum (ETH)
Ethereum (ETH) continues to impress investors as it gradually pushes toward its all-time high of $4800. Besides being one of the highest utility cryptocurrencies in the market, Ethereum has big news coming up tomorrow that could push the price to new highs. The Dencun upgrade is set for tomorrow, which means investors will be looking forward to how it could influence the price of Ethereum.
The Spot #Ethereum ETF will be the first ever deflationary ETF on the market.
It is launching in 71 days.
Are you prepared? pic.twitter.com/6w4WNEnjjr
— Crypto Rover (@rovercrc) March 12, 2024
With the upgrade expected to trigger the adoption of Ethereum layer-2s, Ethereum could be set for an unprecedented capital inflow. Also, investors are looking forward to an Ethereum ETF before May, and many pointers indicate that the ETF will be approved. For instance, the SEC recently met with Coinbase to discuss the Ethereum ETF. Given how big an ETF would be in terms of attracting institutional money, there is no doubt that Ethereum is one of the best cryptocurrencies to buy today and hold for the long haul. As the crypto bull run gains momentum, Ether could be head to prices as high as $20k.
XRP (XRP)
XRP (XRP) is gaining upside momentum today and is one of the top performers amongst large-cap cryptocurrencies. XRP makes it to this list because it has one of the largest and most active communities online. This means the hype they build can see the price touch higher prices anytime the price starts showing positive signals.
— XRP Official ⚡️ (@Ripple_XRP1) March 11, 2024
This is especially a big deal now that the price of XRP is showing positive signals at a time when the entire market is sending signals of a parabolic rally. If the community hype gets stronger as the price increases, FOMO could easily push XRP back to its all-time high of $3. Besides, XRP continues to record significant growth in Asia, which adds to its core value as a top-payment cryptocurrency.
Bitcoin (BTC)
Bitcoin (BTC) is the market leader in the crypto market, and most investors are looking at it for the broader market direction. Interest in Bitcoin became particularly strong after it crossed the $70k mark, as investors expected even higher prices as the halving drew closer. Interest in Bitcoin is also rising due to the growing demand for Bitcoin by institutional money.
Drake has posted a bitcoin video on his Instagram.
Millions of his followers will no buy bitcoin and get in to crypto.
Do you understand? pic.twitter.com/fRdXCFoqSi
— Gordon (@AltcoinGordon) March 12, 2024
Over the past two months, billions of dollars have continued to flow into Bitcoin. Also, the media attention around Bitcoin starting to build up, the odds are that Bitcoin could be headed for a major breakout that could push it to $100k or more before the halving. Post-halving Bitcoin, the supply shock on Bitcoin could see the price head to prices above $200k. This makes it one of the best cryptocurrencies to invest in today for big gains both for the coming months.
FLOKI (FLOKI)
FLOKI (FLOKI) is one of the best meme coins and easily stands out as one of the best cryptocurrencies to buy today. One thing that makes FLOKI stand out is that the team behind it recently burned one trillion tokens.
This has created an imbalance in the supply and demand dynamics of FLOKI and positions to make several thousands of percentages in gains as bullish momentum across the market. Also, as the level of utility for FLOKI grows across the fast-growing Floki ecosystem, including FlokiFi, the demand is likely to keep going up.
$FLOKI has been listed on Toobit Futures! 🔥
Toobit is a top cryptocurrency exchange with over $9.5 billion in derivative trading volume over the last 24 hours, and it is available to users in over 100 countries.
This listing further enhances #FLOKI‘s market liquidity and… pic.twitter.com/RadX4w44ed
— FLOKI (@RealFlokiInu) March 12, 2024
This, and the fact that FOMO is building up around this token, makes it one of the best cryptocurrencies to buy today. It has good potential for double-digit percentage gains today and thousands of percentages of the bullish wave spread across the market.
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