With the crypto market experiencing another bearish day, investors are on the lookout for the best cryptocurrencies to buy now. The near-term outlook for major cryptocurrencies like Bitcoin and Ether is downbeat due to recent macro developments and the upcoming Bitcoin halving event. In this environment, investors need to be more selective to increase the likelihood of near-term gains. Some altcoins that are outperforming the market and could be the best crypto to buy now include Injective (INJ), Sui (SUI), and Bitget Token (BGB).
Injective (INJ) is a decentralized trading protocol that is trying to rebound following a recent price dip. With a price just above $27.50 and potential resistance at $30, INJ could see a push higher to record highs above $52. Despite a 50% decline from recent highs, INJ is still up around 27x versus its 2022 lows. With a modest market cap of $2.5 billion, there is room for future growth and potential 5-10x gains in this bull market.
Sui (SUI) is a high-performance proof-of-stake layer-1 blockchain that launched in May 2023. The coin is attempting to rebound after a partnership announcement with BytePlus, the technology arm of ByteDance, which owns TikTok. Currently trading around $1.30, SUI could see gains of up to 5x with a fully diluted market cap of $12 billion. This presents an opportunity for investors to buy the dip and potentially capitalize on future growth.
Bitget Token (BGB) is the native token of centralized cryptocurrency exchange Bitget and is pushing back towards record highs. With a price of $1.24 and up over 8% in 24 hours, BGB could see further gains with a modest market cap of $1.26 billion. If Bitget continues to attract strong user demand, BGB could be the best crypto to buy now. In addition to these altcoins, investors seeking higher probability of near-term returns may consider participating in crypto presales.
Crypto presales are events where investors can purchase tokens from up-and-coming crypto projects to provide funding for their development. These tokens are often sold cheaply and have the potential for exponential gains. Cryptonews has identified 18 of the best crypto presales of 2024, offering investors the opportunity to invest in projects with strong teams and innovative visions. While crypto is a high-risk asset class and investors could lose all their capital, identifying promising presale projects could result in significant rewards for early investors.
