The week started quietly in global markets, but cryptocurrencies were on an upward trend, following positive commentary from former US President Donald Trump regarding cryptocurrencies. Bitcoin and Ethereum were both trading on an upward trajectory, with Bitcoin reaching $70,000 and Ethereum close to $4,000. The recent approval of spot Ethereum ETFs from the SEC added further momentum to the market. With regulatory uncertainty easing, Ethereum is seen as a potentially good value opportunity as it remains below its 2021 record highs. Traders are on the lookout for the best crypto to buy now, with Ethereum being a strong contender.
Several cryptocurrencies showed significant gains on Monday, signaling potential investment opportunities. Notcoin (NOT), the crypto token of the viral Telegram-based play-to-earn game, surged by 55% in the past 24 hours and attracted the attention of traders. With a market cap of around $850 million, NOT has the backing of the TON Foundation and a large user base, making it a candidate for significant gains. Another meme coin, Floki, inspired by Shiba Inu, also saw a 22% increase in the past 24 hours, breaking back into an upward trend channel. Dogwifhat (WIF), another meme coin, rallied 13% within an upward trend channel, posing a potential return to record highs. These coins are considered strong contenders for the best crypto to buy now.
For investors seeking even greater upside potential, presale investing in new crypto projects may offer significant gains. One such project is Mega Dice Casino, a well-established crypto casino that has launched a presale of its utility token, DICE. Investors in DICE can benefit from cashback on wagers and passive income through staking. Mega Dice is also running a $750,000 airdrop to reward early presale investors. Analysts believe that presale investing in projects like Mega Dice Casino could result in substantial gains for risk-tolerant investors looking for high returns in the crypto market.
The rise in cryptocurrencies is attributed to positive regulatory developments, such as the approval of spot Ethereum ETFs, which have eased fears about regulatory uncertainty. With the potential launch of Ethereum ETFs in the US and the release of US Core PCE inflation figures coming up, traders are optimistic about the future of the crypto market. Recent macro data in the US has indicated a drop in the Core PCE inflation rate, further boosting sentiment in the market. Ethereum’s value proposition remains strong, with potential for significant gains as it catches up to its 2021 record highs.
Overall, the crypto market is showing positive momentum, with major coins reaching yearly highs and potential for further gains. Cryptocurrencies like Ethereum, Notcoin, Floki, and Dogwifhat are among the top contenders for investment opportunities, with significant growth potential. While crypto remains a high-risk asset class, investors are advised to conduct thorough research and consider factors like regulatory developments, market trends, and investment strategies before making decisions. The crypto landscape continues to evolve, presenting new opportunities for traders and investors to capitalize on the growing popularity of digital assets.
