Following an eventful day in the blue-chip cryptocurrency market on March 12th, when Bitcoin (BTC) hit a new all-time high (ATH) of over $73,000 and then fell to the $68,000 level, Investors are looking for the best cryptocurrencies to buy today. short-term profits.
Bitcoin remains a strong contender for the best cryptocurrency to buy today and an essential part of any crypto investor's portfolio.
Long-term liquidation of profit-taking caused fresh ATH to print above $73,000 before BTC reversed and fell significantly.
However, Bitcoin has since rebounded strongly to the mid-$71,000s and is up 12.5% in seven days, according to CoinMarketCap.
In fact, Bitcoin has been buoyed by a strong wave of ETF demand, rising an impressive 47% in 30 days.
The bulls are still very much in control and there is still an outside possibility that the cryptocurrency could challenge $100,000 soon.
This is because the hype around April's halving, when Bitcoin's inflation rate will be cut in half, has not yet reached its peak.
A quick 40% return expected from here means Bitcoin definitely ranks as one of the best cryptocurrencies to buy today.
However, some investors may want to book much larger short-term returns, perhaps in the 5x to 10x range.
They will likely scour the altcoin market for smaller, lesser-known cryptocurrencies with big potential.
Here are some of Tuesday's best-performing stocks that could be the best cryptos to buy today.
Best cryptocurrencies to buy today
Toncoin (TON)
Telegram-owned cryptocurrency Toncoin (TON) has soared after hitting a new high on Tuesday.
According to CoinMarketCap, TON was last up about 25% in 24 hours, with a market cap approaching $15 billion.
The partnership with Telegram, the world's leading private messaging application, positions Toncoin as a potential leader in the 2024 bull market.
The company's market cap could rise further from here, with investors potentially looking for 3-5x returns.
That's why this could be the best cryptocurrency to buy today.
NEAR Protocol (NEAR)
NEAR, the native token of Ethereum rival NEAR protocol, rose nearly 24% in the past 24 hours on Tuesday.
Having recently traded just above $8.0, the cryptocurrency is poised to quickly rise 2.5x and return to its all-time high near $22.
With a market cap of just under $9 billion and a fully diluted market cap of less than $10 billion, NEAR could easily increase 3-5x from here.
As such, it could also be ranked as the best cryptocurrency to buy today.
Injective word (INJ)
Decentralized trading protocol Injective (INJ) has hit a new high of over $51 per token.
This has already increased it more than 50x compared to its 2022 low of just over $1.0 per token.
Up nearly 20% in the past 24 hours, INJ's market cap has recovered to around $4.7 billion.
This leaves plenty of room for further growth in the cryptocurrency, with the potential for 5-10x returns.
Cryptocurrency Alternatives to Consider
All of the above-mentioned coins offer potential investors an excellent opportunity to make 10x returns.
However, for those looking for a higher probability of short-term profits, an alternative high-risk, high-reward investment strategy to consider is participating in cryptocurrency presales.
This is where investors buy tokens for emerging crypto projects to fund their development.
These tokens are almost always sold cheaply and have a long history of pre-sales that yield huge exponential returns for early investors.
Many of these projects have great teams and great visions to deliver innovative crypto applications/platforms.
If investors can identify such projects, the risk and return of pre-sale investing is very good.
The team at Cryptonews spends a lot of time vetting pre-sale projects to help investors.
Below is a list of 14 that the project deemed the best crypto presales of 2023.
See 14 cryptocurrencies
Disclaimer: Cryptocurrency is a high-risk asset class. This article is for informational purposes only and does not constitute investment advice. You could lose all your capital.
