Best crypto to buy now: June 2024

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As a researcher with a background in finance and experience in the crypto market, I believe that the best crypto to buy right now depends on one’s individual investment goals and risk tolerance. While there are several promising options, it is essential to carefully consider each coin’s potential price catalysts, technological advancements, and community support.

The value of cryptocurrencies is on the rise, as the total market capitalization has grown by 12% in the past month. However, determining which particular crypto to purchase at this moment can be a challenging decision.

As a researcher, I’d say that the appropriate investment strategy for you hinges on several factors. These include your risk tolerance, objectives, and the existing composition of your portfolio. While I cannot definitively recommend one approach, I can present some intriguing possibilities to consider.

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How to choose the best crypto to buy right now

Here are a few common factors we take a look at when assessing the best altcoins to buy now.

  • Market Capitalization
  • Recent Performance
  • Technological Advancements
  • Upcoming Catalysts
  • Community Support

In contrast to simply selecting projects with larger market caps or impressive recent price growth, some investors deliberately seek out smaller-cap projects for investment. Despite the inherent risks associated with such investments, these investors believe in their potential. Additionally, some investors hold a contrarian view and are drawn to cryptocurrencies displaying poor recent performance, as they may perceive this as an indication of being undervalued.

Top cryptos to buy now

1. Ethereum (ETH)

“Ethereum consistently ranks among the top cryptocurrencies to invest in, regardless of who compiles the list. As the foremost blockchain platform, Ethereum powers the thriving Web3 and Decentralized Finance (DeFi) sectors, offering a multitude of promising applications.”

Potential Price Catalyst

  • ETF Approval: The SEC’s recent approval of Ethereum ETFs is expected to drive significant capital inflows.
  • Scalability Upgrades: Upcoming Layer 2 solutions could increase the number of transactions Ethereum can handle while also reducing fees.

Should I buy Ethereum now?

As a crypto investor, I strongly believe that Ethereum’s growing appeal among institutional investors and technological advancements position it for substantial growth. The ongoing upgrades to its platform and the anticipated price surge from potential ETF trading make Ethereer an enticing investment opportunity. However, it’s essential to acknowledge that regulatory compliance issues or a larger market downturn could potentially dampen the price.

2. Bitcoin (BTC)

As a dedicated crypto investor, I can’t help but acknowledge the significant role Bitcoin plays in our digital currency landscape. Boasting no introduction whatsoever, Bitcoin is the pioneering cryptocurrency and presently commands an impressive market cap of approximately $1.3 trillion, leaving an indelible mark on the industry.

Potential Price Catalyst

  • Bitcoin Halving: Recent halving events have historically coincided with price increases.
  • ETF Approval: Like Ethereum, Bitcoin ETFs have recently been approved, attracting more institutional investment.

Should I buy Bitcoin now?

As a crypto investor, I find Bitcoin intriguing with its exceptional performance. In the years 2023 and 2024, it reigned supreme among all asset classes, surpassing stocks and commodities in growth. However, this potential reward comes with risk. An investment in Bitcoin could be a double-edged sword, offering significant returns but also carrying the possibility of substantial losses.

The attractive pricing history of BTC is hard to ignore, yet some investors might be hesitant due to its proximity to an all-time price peak. Many prefer waiting for what they believe is a lower price before making a purchase.

3. Binance Coin (BNB)

As a researcher, I would describe Binance Coin (BNB) as the native currency for both Binance, the prominent cryptocurrency exchange, and Binance Smart Chain, a separate blockchain platform. By holding BNB, users can secure discounts on trading fees when transacting on these platforms, making it a valuable tool with tangible benefits.

Potential Price Catalyst

    DeFi Integration: BNB’s integration with Binance Smart Chain supports numerous DeFi projects.
    User Benefits: BNB holders enjoy reduced trading fees and exclusive token sales.

Should I buy Binance Coin now?

As an analyst, I’ve observed a significant 27% price swing in Binance Coin over the last week. The market displayed elevated trading activity and volatility, creating ample swing trading prospects for experienced investors.

Certainly, long-term investors hold the BNB coin as well due to its useful application. However, it’s important to acknowledge that the value of BNB is interconnected with the Binance exchange, which has recently been involved in a money-laundering controversy.

4. Solana (SOL)

One must-have entry in any list is Solana, a strong competitor to Ethereum’s throne. Its fast transaction speeds and affordable fees make it an appealing alternative, especially if Ethereum’s anticipated upgrades fail to impress.

Despite this, Solana continues to expand its community and develop new projects. An increasing number of developers are building applications on the platform.

Potential Price Catalyst

  • Cross-Chain Integration: Integration with LayerZero for cross-chain transfers enhances its functionality.
  • Stablecoin Launch: PayPal’s stablecoin launch on Solana highlights its growing ecosystem.

Should I buy Solana now?

Over the past month, Solana’s price has shown little change, experiencing a 10% rise within the past 30 days but a minor 1% decrease in the previous week. The value continues to oscillate around key price supports and resistances.

5. Polkadot (DOT)

Polkadot is a significant initiative focusing on a key element for the thriving blockchain sector: interoperability. Its objective is to facilitate seamless collaboration among various blockchains, allowing them to exchange data and money while ensuring complete harmony.

Potential Price Catalyst

  • Parachain Technology: Unique technology supporting scalability and interoperability.
  • Developer Community: Strong support from developers ensures ongoing innovation.

Should I buy Polkadot now?

The price of Polkadot has dropped nearly 8% over the past week, now sitting at $6.57. It’s currently struggling to hold above significant resistance points at $6.40. This situation offers a captivating opportunity for traders considering investments in potentially underpriced projects; however, determining the exact bottom can be quite elusive.

Final thoughts on the best crypto to buy now

As a crypto investor, I’ve noticed that Ethereum and Bitcoin continue to dominate the market with their widespread recognition and functionality. However, I’ve also kept an eye on Solana, Binance Coin, and Polkadot, which have been intriguing alternatives as of late. The unique price movements in these coins, combined with potential price catalysts, make them worth considering for any serious crypto portfolio.

In the final analysis, effective risk management is crucial. When selecting the optimal cryptocurrency to purchase presently, investors usually establish particular price objectives and adhere rigorously to their profit-loss thresholds and other essential crypto investment guidelines.

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2024-06-11 17:56