As macro tailwinds following dovish commentary from Fed Chair Jerome Powell help lift major cryptos back toward recent highs, investors hunting for the best crypto to buy today would do better by taking a look at smaller altcoins, many of which are enjoying outsized pumps.
Powell hinted that the Fed is close to cutting interest rates, boosting bets that rate cuts begin in June.
This helped lift Bitcoin (BTC) back towards $68,000 and Ether (ETH) back towards $3,900.
While BTC and ETH nurse modest gains, major meme coins have been pulling back following big recent pumps.
BONK was last down 12.5% in 24 hours, PEPE was down 10% and SHIB was down 9%.
But other sections of the altcoin space are picking up.
Let’s have a look at some altcoins with strong bullish momentum that could be the best crypto to buy today.
Best Crypto to Buy Today
Jupiter (JUP)
As Solana meme coins succumb to profit-taking, the native token of Solana’s largest decentralized exchange (DEX) Jupiter (JUP) is pumping.
JUP’s price was last up more than 34% in 24 hours, as per CoinMarketCap.
The latest pump has pushed its market cap back to the north of $1 billion. That makes it a crypto unicorn once again.
Jupiter’s full diluted market cap is currently around $7.7 billion.
But Jupiter stands a good chance of catching up to Uniswap in this bull market as the Solana ecosystem grows exponentially.
Uniswap has a fully diluted market cap of around $15 billion, almost double Jupiter’s.
For traders looking for a good-value DEX coin to buy, Jupiter could be their best bet.
That’s why it ranks amongst the best crypto to buy today.
THORChain (RUNE)
Another DEX token that is pumping on Thursday is the cross-chain exchange THORChain (RUNE).
As per CoinMarketCap, THORChain’s price has rallied 26% in the past 24 hours, ranking it as potentially amongst the best crypto to buy today.
With a still modest market cap of $2.2 billion, THORChain is another great value DEX bet.
RUNE is eyeing a near-term retest of late 2024 highs in the $7.30s.
A break above here could open the door to a swift run back to early 2021 record highs around 21.
That could mean near-term gains in the region of 3x.
EOS (EOS)
Layer-1 blockchain token EOS (EOS) has pumped up 17% in the past 24 hours in hopes of a token burn.
Holy shit. Let it burn. EOS:2. pic.twitter.com/56tDjPahfY
— Yves La Rose (@BigBeardSamurai) March 7, 2024
With a still modest market cap of only around $1.3 billion, EOS has plenty of upside potential.
If it can break substantially above $1.35 resistance, a quick run higher toward support turned resistance around $1.90 is on the cards.
The prospect of quick further gains suggests EOS is potentially one of the best cryptos to buy today.
Crypto Alternatives to Consider
All of the above coins offer potential investors a chance to make 10x gains.
But, 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 startup 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 unique 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:
The post Best Crypto to Buy Today March 7 – Jupiter, THORChain, EOS appeared first on Cryptonews.
