Looking for the best cryptocurrencies to buy today, as macro tailwinds following dovish comments from Federal Reserve Chair Jerome Powell help push major cryptocurrencies towards recent highs Investors would be better off focusing on small-cap altcoins, many of which have enjoyed outsize rallies.
Chairman Jerome Powell has indicated that the Fed is close to cutting interest rates, raising expectations that rate cuts will begin in June.
This pushed Bitcoin (BTC) towards $68,000 and Ether (ETH) towards $3,900.
While BTC and ETH continue to make small gains, the major meme coins have pulled back after recent strong gains.
BONK fell 12.5% within 24 hours, PEPE fell 10% and SHIB fell 9%.
However, other sections of the altcoin space are seeing pickups.
Let's take a look at some altcoins with strong bullish momentum that could be the best cryptocurrencies to buy today.
Best cryptocurrencies to buy today
Jupiter (JUP)
As Solana’s meme coin succumbs to profit-taking, the native token of Solana’s largest decentralized exchange (DEX) Jupiter (JUP) is soaring.
According to CoinMarketCap, JUP has risen over 34% in 24 hours.
The latest pump has pushed the market cap back above $1 billion. This makes the company a cryptocurrency unicorn once again.
Jupiter's diluted market cap currently stands at approximately $7.7 billion.
But as the Solana ecosystem grows exponentially, Jupiter has a good chance of catching up to Uniswap in this bull market.
Uniswap's fully diluted market capitalization is about $15 billion, nearly twice that of Jupiter.
For traders looking to buy affordable DEX coins, Jupiter could be the best option.
That's why it ranks as one of the best cryptocurrencies to buy today.
Saw Chain (Rune)
Another DEX token that is making waves on Thursday is cross-chain exchange THORChain (RUNE).
According to CoinMarketCap, THORChain is up 26% in the past 24 hours and could rank as one of the best cryptocurrencies to buy today.
THORChain, which still has a modest market cap of $2.2 billion, is another worthy DEX option.
In the short term, RUNE is focused on retesting the highs of $7.30 in the second half of 2024.
If the price breaks above this point, it could quickly return to the all-time highs reached in early 2021 around the 21st.
This could mean a return of around 3x in the short term.
Ios (Ios)
Layer 1 blockchain token EOS (EOS) has risen 17% in the past 24 hours on expectations of token burn.
Oh my god. Burn it. EOS:2. pic.twitter.com/56tDjPahfY
— Yves La Rose (@BigBeardSamurai) March 7, 2024
EOS's market cap is still modest at only about $1.3 billion, but there is plenty of upside potential.
If the price can break significantly above the resistance at $1.35, it could lead to a quick rally towards the support near the $1.90 resistance.
The prospect of rapid further gains suggests that EOS could be one of the best cryptocurrencies to buy today.
Cryptocurrency Alternatives to Consider
All of the above-mentioned coins offer potential investors a chance to make a 10x return.
However, for those looking for a higher probability of short-term profits, an alternative high-risk, high-return investment strategy to consider is participating in cryptocurrency presales.
Here, investors buy tokens for startup 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 their own 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 15 that the project considers the best crypto presales of 2023.
See 15 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.
