Considering their recent price performance, InsideBitcoins regularly provides a rundown of the best cryptocurrencies to buy now.
The DeFi sector received more attention in the last 24 hours as assets account for over 9% of crypto transactions in the last 24 hours. However, crypto trading volume remains below $30 billion, the value they fell to since the bear condition hit the market in mid-August.
Global Crypto Market Cap Chart
While investors await crypto market recovery, what are the best cryptos to buy now?
Best Crypto to Buy Now
Kasper, Solana, GMX, Chainlink, and several other cryptocurrencies top the crypto gainers list today, outperforming major tokens by a wide margin. The update below highlights the performance of some of these tokens and presents an overview of their current trend and why they may be the best penny cryptos to buy now. Likewise, there’s a featured presale included in the article, the Sonik Coin, which is set to go live on the 7th of September by 9 AM. Details of the project are included below.
1. Kaspa (KAS)
Kaspa is one of the biggest crypto gainers this Y2D, with over 1250% increase in value. Its performance in the last 52 weeks bests 98% of the top-ranking cryptocurrencies, including Bitcoin and Ethereum. In the last 24 hours, the token grew over 13%, making it one of the most valuable cryptocurrencies today. Kaspa’s trading volume also spiked by over 90%.
Will KAS become the best crypto to buy now? Kaspa has a myriad of upsides and downsides. However, based on its current trends, the token is gradually making a name for itself as one of the best-performing cryptos on the market. Hence, investors may include the asset on their watch list as one of the best cryptos to buy now.
Besides, the asset’s current price is about 1.5 times its 200-day EMA, and its RSI remains neutral, indicating there’s more room for accumulation. Also, given the fact that Kaspa now provides an API for developers to build on the Kaspa network through the NowNode program, the demand for its platform is bound to skyrocket in the coming weeks.
— Kaspa (@KaspaCurrency) August 30, 2023
Overall, KAS will likely end Q3 with another round of positive performance. However, liquidity is still a crucial challenge for KAS. Nonetheless, as the platform expands its influence in the crypto space, it will likely record a boost in its market cap, which would grossly influence its liquidity.
2. Chainlink (LINK)
Chainlink is gradually pulling away from its sideways trend. LINK was forced into a protracted swing after the crypto market slipped into the bearish condition of mid-August. Even though the successful SWIfT experiment news hit the market a few days back, the asset price did not record a significant jump.
However, the noticeable trend across its chart is the gradual movement away from the $5.85 essential support. The gradual departure from the support is expected to push the asset’s price up by at least 20% before it settles for another round of price consolidation. Hence, LINK provides a short-term opportunity to clip some gains.
Today, LINK’s price gained over 3%, and its trading volume recorded a boost of about 25%, further positioning the token to scoop up more gains. Data from its technical analysis also indicates that the token may have enough momentum to reach the predicted 20% increase in price. LINK has a relatively neutral and bullish RSI value with 10-day and 20-day moving averages. Hence, it presents an opportunity for a short-term swing.
Conversely, its long-term moving averages present a huddle for the bulls in the long run as the asset’s current price remains below its 100-day and 200-day moving averages. With that, LINK can expect an increasing bear pressure as its price gets closer to the $7 range.
Overall, the improving activities within the network strengthen the platform’s position as a leader in the interoperability space.
Thus, LINK’s value as one of the best cryptos to buy now is undisputed. But hodlers may have to forget about a massive gain as there’s still a range of price correction ahead before LINK settles for an uptrend.
3. Solana (SOL)
Sonlan’s trend has been a wild mix in the last 52 weeks, fluctuating between boom and bust. However, its price action today creates a stack division from its established trends in the past, marking a deviation from its month-long decline.
SOL price increased by over 5% in the early hours of today, and its trading volume received a boost of about 80%. The sudden change in trend has launched SOL into its $20 rejection zone. However, the bears had the upper hand, and it dropped back to the $19 range.
While the SOL price movement may appear sudden, it can be traced to the news released on the 5th of September. Visa recently announced its decision to expand its stablecoin settlement pilot to Solana.
The move will broaden the utility of the Solana platform in digital payment. The news resulted in a confidence boost among investors and a resultant accumulation of the SOL token. Hence the increase in the asset price.
2/ Visa’s addition of the Solana blockchain follows months of extensive research and evaluation of infrastructure that helps bring:
⚡Speed of finality
— Solana (@solana) September 5, 2023
As the deal gets consummated, the SOL price may find the rally it needs to break above the $20 resistance. Even though SOL is currently underperforming, it remains one of the best cryptos to buy now based on solid fundamentals and relatively high liquidity.
Hence, investors can take advantage of the discounted price and buy the dip as the market recovers.
4. GMX (GMX)
The price of GMX is currently on the rise, with over 3% increase in the last 24 hours. It’s not the first time the token has been recorded this week, as its price has increased by over 10% in the last 72 hours. Furthermore, it is also witnessing improved liquidity based on its improving price and market cap.
Despite the seeming improvement recorded on its chart, is GMX one of the best cryptos to buy now? Besides overall improvements in its fundamentals, a few technical indicators identify GMX as one of the best cryptos to buy now.
The current trends of the token put its relative strength index at 32, which indicates impending price reversal. Similarly, its MACD reading at Level (12, 26) shows a value of −3.35, a bullish signal in the short run. Thus, it accounts for the brief upper hand recorded by the bulls in the early hours of the day. The question remains whether the token can keep the uptrend much longer.
From the relationship between its price and moving averages, there are signals of impending bear pressure, which would threaten the gains of GMX in the medium term. Hence, investors may have to wait for the trends to unfold before deciding. In the meantime, there are all indications that GMX is on a growth path and can push its values further in the coming months.
5. Sonik Coin (SONIK)
Sonik Coin has lived up to its name by speeding through Stage 1 of its road map. Now, the platform is headed to stage 2, featuring claims, listing, staking, and marketing. And afterward, the goal is to get SONIK to the $100 million market cap.
At press time, Sonik Coin raised over $1.8 million in its presale offering, one of the most successful. SONIK is set to go live on Thursday, 7th of September, at 9 AM UTC.
🚨 Important announcement, Speedsters! 🚨
CLAIM & LISTING will go live on Thursday, 7th of September at 9AM UTC ⏰🔥
Remember to watch out for scammers—only claim from our official website! 🌐
— SONIK COIN (@Sonikcoin) September 6, 2023
Hence, investors can head to the official website of Sonik Coin to claim their tokens. Also, there’s still a short window for degen investors who can’t afford to miss out on this speedy opportunity. The presale page is still up, and the offer remains fixed at $$0.000014 for the last time.
Sonik Coin maintains its community-focused tokenomics, which offers 50% of the total supply to the public at presale, and 40% of the remainder goes towards staking. In comparison, the final 10% is put into liquidity provision.
The team is set, the platform is ready, and investors are waiting. The project’s next phase is to see how fast the speedy crypto can run.
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