Altcoins
Best Crypto to Buy Today April 30 – Wormhole, Ethena, Cronos
Last updated: April 30, 2024, 6:14 p.m. EDT | 4 minutes of reading
Best crypto to buy today April 30 – Wormhole, Ethena, Cronos / Source: Cryptonews
As Bitcoin (BTC) seeks a breakout below $60,000 and Ether (ETH) pushes below $3,000, crypto investors are turning to the altcoin market as they search for the best crypto to buy today.
The crypto is trading today with a bearish bias, with Bitcoin And Ether down 5-6% in last 24 hours.
Altcoins, on the other hand, are a sea of red. Solana (SOL) was last down 7% and Dogecoin (DOGE) was last down 6%. Most other majors are down at least 3% in a 24-hour period.
A Disappointed debut to spot Bitcoin and Ether ETF trades in Hong Kong was a major catalyst for the decline.
❖ CRYPTOS DIVE AFTER ETFS LAUNCH IN HONG KONG
The world’s top cryptocurrencies continued their downward trend on Tuesday, with Bitcoin falling below $62,000 after Hong Kong launched its first crypto exchange-traded funds (ETFs).
All six Hong Kong ETFs missed the market…
– *Walter Bloomberg (@DeItaone) April 30, 2024
US economic data hotter than expected linked to wage inflation then contributed to this pessimistic mode.
Persistent underlying inflation…
The U.S. employment cost index rose 1.2% in the first quarter of 2024, an acceleration from a 0.9% increase in the previous three months and beating the market consensus growth of 1%.
Employment costs are those which have increased the most in a year, wages and… pic.twitter.com/SId678qKuT
– Ayesha Tariq, CFA (@AyeshaTariq) April 30, 2024
This latest data reinforces the likelihood that the Fed will continue to delay rate cuts. That’s a message investors expect from the Fed at tomorrow’s policy meeting.
ISM PMI and US employment data this week will also shed light on the Fed’s rate cut prospects.
The risks seem oriented towards the persistence of macroeconomic difficulties. Bitcoin it risks falling back towards support in the $53,000 area.
The prospect of a 12% decline from current levels suggests that Bitcoin is probably not the best crypto to invest in right now. Source: TradingView
The prospect of a 12% decline from current levels suggests that Bitcoin is probably not the best crypto to invest in right now.
Investors looking to make quick gains will have to be much more selective and hunt altcoins with strong narratives/dynamics.
Here’s something altcoins which investors will likely be watching on Tuesday, which could generate quick gains.
Best Crypto to Buy Today
Wormhole (W)
The recently launched and much-hyped multi-chain protocol Wormhole (W) saw a significant pullback on Tuesday.
It fell more than 13% for the last time in 24 hours and traded below $0.60, after touching $0.70 earlier in the session.
W has been stuck between $0.50 and $0.70 for over two weeks. This comes after the token’s major pullback from post-launch highs above $1.80.
Despite the bearish price action, W could be a great buy right now. At current levels, W has a market cap of only about $1 billion.
Altcoins are likely to rally at some point as the bull market resumes. W could see gains of at least 10x from here, ranking it as potentially the best crypto to buy today.
Wormhole’s W token is now natively multichain using the Wormhole Native Token Transfers (NTT) framework 💥
Native W is now available in SPL format on @Solana and ERC20 format on @Ethereum, @arbitrum, @OptimismAnd @buildonbase. pic.twitter.com/pwaJohYGXT
– Wormhole (@wormhole) April 25, 2024
Ethena (ENA)
The new yield-bearing stablecoin protocol token Ethena (ENA) is also down on Tuesday.
Tokens are transferable
We love you
– Ethena Laboratories (@ethena_labs) April 29, 2024
At $0.80, ENA has a market cap of just over $1.1 billion. This represents a decline of almost 50% from its April highs above $1.50.
For those who believe in the long-term adoption of Ethena’s USDe stablecoin within the web3 ecosystem, this could be the perfect time to buy the dip.
USDe was quickly able to establish itself as one of the leading stablecoins. According to Lama DeFiits last market capitalization was $2.3 billion.
Its yield-bearing properties suggest that USDe could continue to increase its share over time. This will directly boost demand for ENA, which could be the best crypto to buy today.
Cronos (CRO)
Cronos (CRO), the token from Crypto.com’s blockchain of the same name, is the only top 100 coin exchange in the green on Tuesday.
CRO was last up 3% in the last 24 hours, according to CoinMarketCap.
The token continues to consolidate north of support at the $0.12 area.
If it manages to break out of its current descending triangle, CRO could quickly return to March highs around $0.18.
If CRO manages to break out of its current descending triangle, CRO could quickly return to March highs around $0.18. This potentially makes it the best cryptocurrency to buy today. Source: TradingView
This could mean quick gains of 40% for CRO investors who get started now. CRO could be one of the best cryptocurrencies to buy today.
Crypto Alternatives to Consider – Presale Investment
Hunting for undervalued altcoin gems is a great way to make crypto profits.
But another strategy with great potential, often overlooked, is investing in crypto. ICOOr pre-sales.
Future web3 Projects/protocols often sell their native token at a deep discount to fund early development and build excitement.
Investing in pre-sales is risky, with a high risk that projects will fail to realize their vision or gain traction.
But presale investors can usually access a token at very favorable market caps.
This means that if a project gains traction, pre-sale investors can make big profits of 10x or more.
With so many presales vying to attract investor funds, it can be difficult to know where to start.
This is why Cryptonews analysts monitor the market. Here are some of their top picks.
19 Best Crypto Presales to Invest in 2024
Warning: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose your entire capital.
Altcoins
Altcoins with huge potential Bonk and Mpeppe (MPEPE)
The cryptocurrency market is full of potential, and two altcoins that have recently caught the attention of investors are Bonk (BONK) and Mpeppe (MPEPE)Both of these tokens offer unique features and promising growth prospects that set them apart in the crowded altcoin space. In this article, we will explore what makes Bonk (BONK) and Mpeppe (MPEPE) attractive investment opportunities and how they could shape the future of the cryptocurrency market.
Bonk (BONK): The viral sensation
Bonk (BONK) burst onto the scene with a playful and viral take on cryptocurrency. Here’s a closer look at what’s made Bonk (BONK) a sure bet in the altcoin space.
The Viral Marketing Strategy
Bonk (BONK) Bonk has harnessed the power of internet memes and viral marketing to quickly gain popularity. Its branding, which features a humorous and engaging mascot, has resonated with the crypto community and beyond. By harnessing the viral nature of meme culture, Bonk (BONK) has quickly established a strong presence and captured the imagination of a wide audience.
Merging meme culture and blockchain innovation
Mpeppe (MPEPE) is emerging as a new and exciting player in the altcoin market. With its unique blend of features and innovative approach, Mpeppe (MPEPE) is attracting the attention of investors and cryptocurrency enthusiasts.
Mpeppe (MPEPE) combines the fun and relatable aspects of meme culture with advanced blockchain technology. Inspired by football and blockchain innovation, Mpeppe (MPEPE) offers a distinctive brand identity that appeals to a wide audience. This fusion of entertainment and technology sets Mpeppe (MPEPE) apart from other altcoins and offers an attractive investment opportunity.
Community impact
The strength of each cryptocurrency’s community will play a vital role in its future trajectory. Bonk (BONK) and Mpeppe (MPEPE) Cryptocurrencies build strong, engaged communities, but how they foster and grow those communities will determine their long-term success. Active, supportive communities can generate lasting interest and value, making them essential to the future of every cryptocurrency.
Conclusion: Invest in Bonk and Mpeppe
Bonk (BONK) and Mpeppe (MPEPE) represent exciting opportunities in the altcoin market. While Bonk (BONK) has established itself through its viral marketing and strong community support, Mpeppe (MPEPE) offers a unique blend of meme culture and advanced blockchain features. Both coins have the potential to make a significant impact in the cryptocurrency space.
For investors looking to explore high-potential altcoins, keeping an eye on Bonk (BONK) and Mpeppe (MPEPE) offers interesting opportunities. As the market evolves, these tokens could play a significant role in the future of cryptocurrencies, making them attractive options for those looking for growth and innovation in the altcoin space.
For more information on the Mpeppe presale (MPEPE):
Visit Mpeppe (MPEPE)
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Altcoins
Top 6 Altcoins Expected to EXPLODE Before 2025: Buy Now!
As we approach 2025, the cryptocurrency market is poised for a major shift. According to Austin, an analyst at Altcoin Daily, potential policy changes could trigger a major surge in altcoins. A potential change in the Federal Reserve’s policy rate in September could lead to substantial growth in the cryptocurrency market, benefiting Ethereum, Solana, and several promising new altcoins.
Here’s a look at some altcoins priced between $1 and $2 that could offer good returns during the current market downturn. Dive right in.
Top 6 Altcoins to Watch
Aethir: The Decentralized GPU Marketplace
Aethir is becoming a key player in decentralized cloud infrastructure for gaming and AI. With over $36 million in annual revenue, Aethir is meeting the growing demand for GPU computing from large tech companies like Google and Microsoft. By utilizing underutilized GPUs, Aethir is making a significant impact in the tech world. Current Price: $0.07176.
Ondo: The Best Bet in the RWA Sector
Ondo is transforming the way financial assets are tokenized with its real asset protocols. The ONDO token, used for Ondo DAO and Flux Finance, offers a 5.3% annual dividend in USDY. Despite a recent 35% price drop, ONDO’s price action suggests a potential breakout. With less selling pressure and an increase in off-exchange holdings, the outlook appears positive. Current price: $0.9251.
Lukso: Blockchain for Creators and Social Networks
Lukso is creating a unique blockchain focused on connecting creators, brands, and users. As an alternative to Ethereum, Lukso offers universal profiles and gasless transactions, making blockchain technology more accessible. With a strong vision and strong leadership, Lukso is poised for wider adoption. Current Price: $1.71.
AIT Protocol: Decentralized AI Data Annotation
The AIT protocol addresses the need for decentralization of work in AI data annotation. It connects human trainers with AI model owners through a decentralized marketplace, thereby improving AI models. Its growing adoption in Asia and strategic investments suggest that it could be a major disruptor in the AI space. Current price: $0.1169.
Foxy (Linea): A meme piece with level 2 potential
Foxy, a cryptocurrency associated with Linea’s Ethereum layer 2 scaling, has received support from ConsenSys. It stands out in Ethereum layer 2 due to its MetaMask integration and fast transactions. With Linea’s growing adoption and low transaction costs, Foxy is well-positioned for growth. Current price: $0.01116.
Off-grid: Emerging Altcoin in Video Gaming
Finally, Off The Grid, developed by Godzilla, is generating excitement in the crypto gaming sector. Although it has not yet launched, it has received positive feedback from industry experts, suggesting strong potential. Other infrastructure projects like Immutable and games such as Xers and Star Heroes are also worth considering for those interested in crypto gaming.
Who’s excited about the potential altcoin rally?
Altcoins
Bitcoin Dominance Hits 3-Year High: Is Altcoin Season Coming?
As Bitcoin dominance hits a three-year high of 56%, analysts are predicting the potential start of an altcoin season. Although Bitcoin’s current valuation has fallen below $63,600, the high dominance level suggests a significant shift in the market.
Experts point out that Bitcoin dominance is a key factor in predicting altcoin trends. If Bitcoin holds its price while its dominance declines, it could signal a flow of investment into altcoins. This triggers what many call an “altcoin season.”
Conversely, if Bitcoin price and dominance fall simultaneously, it usually indicates a broader market correction rather than an altcoin boom.
What Factors Suggest an Imminent Altcoin Season?
Markus Thielen of 10X Research noted that Bitcoin Price Tends to Stabilize in August. Therefore, a stable Bitcoin price, coupled with declining dominance, may create the ideal conditions for altcoins to thrive.
Learn more: Bitcoin Dominance Chart: What Is It and Why Does It Matter?
Bitcoin Domination. Source: TradingView
In addition, Ki Young Ju, founder of the chain analysis CryptoQuant platform has highlighted increasing activities by crypto whales that appear to be preparing for an altcoin rally.
“Limit buy order volume for altcoins, excluding Bitcoin and Ethereum, is increasing, indicating that strong buy walls are being put in place” said.
Ju explained that limit orders, which are preferred by institutions for large trades to minimize price impact, create “quote volume.” His analysis, which includes a graph of the 1-year normalized cumulative buy/sell volume difference, indicates that altcoins like Solana (SOL)Cosmos (ATOM) and Polygon (MATIC) experience significant accumulation activities.
“The indicator is calculated by taking the cumulative sum of the difference between the buy and sell quote volumes, using a one-year rolling window. If there is an upward trend, it means the buy volume of the quotes is increasing, indicating stronger buy walls,” Ju explained.
Normalized cumulative difference over 1 year between purchase and sale volumes. Source: CryptoQuant
This bullish sentiment is reflected in the trends following recent developments in crypto financial products. Crypto Vikings, a renowned analyst, suggests that current market conditions are conducive to altcoin season.
“Many alts are down 60-80% in the last couple of months, and many of them have already bottomed and are in a good buy zone. Bitcoin Domination is also facing major resistance relative to where the massive altcoin season began each cycle,” Crypto Vikings declared.
Sentiment is increasingly optimistic, as many believe that the disillusionment that follows periods of prolonged economic downturn opens the way to profitable investments.
Another trader, Mags, noted that altcoins are only up 58% after breaking a 525-day accumulation. Therefore, he predicts a possible continuation of the altcoin rally after a reaccumulation consolidation.
“Permanent bears will tell you that altcoins are done and in a distribution phase. But if you look at the chart, altcoins are only up 58% since they broke out after 525 days of accumulation. Do you really think a breakout after 525 days of consolidation will end after only a 58% move?” wrote on X (Twitter).
Learn more: 11 Cryptos to Add to Your Portfolio Before Altcoin Season
On the other hand, Brian Quinlivan, senior analyst at Santiment, told BeInCrypto that there is a lack of enthusiasm for the altcoin season due to the recent price drops.
“As far as mentions of altcoin season go, we’re not really seeing any significant enthusiasm from traders about it. Traders have at least been a little bit more vocal since we started seeing prices drop over the last three days,” Quinlivan told BeInCrypto.
Disclaimer
In accordance with the Trust Project This price analysis article is provided for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our Terms and conditions, Privacy PolicyAnd Disclaimer have been updated.
Altcoins
On-chain data confirms whales are preparing for altcoin surge with increased buy orders
Ki Young Ju, CEO of analytics platform CryptoQuant, believes whales are preparing for an upcoming surge in altcoins.
In a recent revelation about X, Ju underlines that the volume of limit buy orders for altcoins, excluding Bitcoin and Ethereum, is increasing. This pattern suggests the formation of substantial buy walls, highlighting significant buying pressure from large-scale investors.
Ju’s chart identifies two main phases in limit order volume for altcoins: the limit sell phase and the limit buy phase. The limit sell phase saw a notable increase in cumulative sell orders in 2022, demonstrating strong selling pressure from whales and other market participants. This phase coincided with a period of falling altcoin prices due to unfavorable market conditions.
Then, the limit buying phase began, marked by a significant increase in cumulative buy orders. This indicates a period of strategic accumulation where whales establish substantial buy walls.
According to Ju, the increase in buying volume suggests confidence in the future conditions of the altcoin market. This buying pressure creates strong support levels, indicating that whales are preparing for a positive change in the market.
Buying pressure on specific altcoins
Ju also provided a heatmap of the 1-year normalized cumulative buy/sell volume difference for various altcoins, showing the buying and selling pressure over time. Solana (SOL) has seen alternating strong buying and selling phases, with recent activity showing increased buying interest. Cosmos (ATOM) and Polygon (MATIC) have also shown increased buying pressure despite mixed activity trends.
Cardano (ADA) and PancakeSwap (CAKE) have shown balanced buying and selling phases, with recent trends proving increased buying pressure. Coins like AMP and ANKR have also demonstrated increased buying activity. The heatmap reveals that most altcoins are seeing increased buying pressure as whales and large investors accumulate altcoins in anticipation of a rally.
Meanwhile, coins experiencing selling pressure, as indicated by the predominantly red areas on the heatmap, include DOGE, DASH, AXS, XRP, COMP, and AAVE, BNT.
Bitcoin whales are also buying
It is important to note that while whales are accumulating altcoins, Bitcoin whales are also active. Crypto Basic note an increase in buyer activity on Binance, which aligns with an increase in the buy/sell ratio of takers and whale movements. Analyst Ali Martinez highlighted the ratio fluctuations from below 0.8 to above 1.7 between July 27 and 31. Ratios above 1.0 indicate aggressive buying, often preceding price rallies.
From July 27 to July 28, the ratio remained mostly above 1.0, corresponding to the rise in Bitcoin price from around $66,500 to over $67,000. A spike to around 1.5 led to a sharp increase in price to around $68,500. However, on July 30 and 31, the ratio fell below 1.0 several times, corresponding to a drop in price to around $66,000, before a final spike to 1.7 indicated another slight increase in price.
Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinion of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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