With cryptocurrencies in a bullish mood on Tuesday, investors are on the hunt for the best crypto to buy today.
Bitcoin (BTC) continues to hold at two-week highs the mid-$43,000s, comfortably above its 21 and 50DMAs.
Concerns about Grayscale sell pressure has faded this week as outflows from GBTC decline.
Ether (ETH), meanwhile, popped back above $2,300 after Standard Chartered pumped spot Ethereum ETF optimism in its latest research note.
The multi-national bank things Ether can hit $4,000 before May, by which time US spot Ethereum ETFs could have launched.
All said, the total crypto market’s capitalization is already up over $50 billion this week, and is up $170 billion versus its recent lows around $1.45 trillion.
Sentiment could further improve if the Fed nods to the possibility of imminent rate cuts at Wednesday’s policy announcement.
The US central bank is expected to leave interest rates unchanged at 5.25-5.5%.
With all that being said, let’s take a look at candidates for the best crypto to buy today.
Best Crypto to Buy Today
BitTensor ($TAO)
Decentralized AI protocol BitTensor ($TAO) just powered up 12% to hit new all-time highs on Tuesday above $470 per token.
Its latest pump comes on a shoutout from Ethereum founder Vitalik Buterin.
Vitalik shilling $TAO
The founder of the second largest cryptocurrency $ETH knows how big of a deal #Bittensor is
One by one..$TAO https://t.co/DumPSOFj2L pic.twitter.com/By6a5gt9sb
— ＤＲＥＡＤ ＢＯＮＧＯ (@DreadBong0) January 30, 2024
Last trading around $440, $TAO is up a stunning near 10x versus its October lows amid ongoing AI asset outperformance.
But it’s still small market cap of currently around $2.7 billion leaves plenty of room for upside, when considering AI companies like Nvidia have valuations to the north of $1 trillion.
$TAO ranked as X account AltsDaddy’s no. 1 trending coin on Tuesday.
Evening Twitter Update! 🫡$TAO looks incredibly bullish and takes #1 tweeted #Altcoin. $CREO holds #2 and $SOL is trending at #3.
1️⃣ $TAO
2️⃣ $CREO
3️⃣ $SOL
4️⃣ $VRA
5️⃣ $INJ
6️⃣ $NAKA
7️⃣ $ATOR
8️⃣ $SUI
9️⃣ $RIO pic.twitter.com/65WlKgbQIr— AltsDaddy (@AltsDaddycom) January 30, 2024
Sui ($SUI)
High-performance proof-of-stake layer-1 blockchain Sui ($SUI) that launched back in May 2023 hit fresh multi-quarter highs on Tuesday.
$SUI hit the mid-$1.60s for the first time since its launch last year, but has since pulled back under $1.55.
That still leaves it 320% up versus last October’s lows around $0.36.
Sei ($SEI)
Finance-focused blockchain Sei ($SEI) pumped 8% on Tuesday, taking its gains since January lows to over 30%.
With a still relatively small market cap of $1.8 billion and a lot of potential for this technologically advanced new blockchain, Sei still offers a good possibility of 10x or more gains.
Crypto Alternatives to Consider
The above noted coins offer huge potential returns but also come with a lot of risk.
For those looking for a better probability of near-term gains, an alternative high-risk, high-reward investment strategy to consider is getting involved in crypto presales.
This is where investors buy the tokens of upstart crypto projects to help fund their development.
These tokens are nearly always sold cheaply, and there is a long history of presales delivering huge exponential gains to early investors.
Many of these projects have fantastic teams behind them and a great vision to deliver a revolutionary crypto application/platform.
If an investor can identify such projects, the risk/reward of their presale investment is very good.
The team at Cryptonews spends a lot of time combing through presale projects to help investors out.
Here is a list of 15 of what the project deems as the best crypto presales of 2023.
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