The cryptocurrency markets are currently seeing solid momentum following the SEC’s approval of spot Ethereum ETFs. With Bitcoin recovering back to the $69,000 level, traders are now looking for the best crypto to buy for quick gains. Ethereum is currently up over 20% this week but remains below its March highs, sitting in the $3,700 price range. Despite this, Ethereum is still significantly below its 2021 highs near $4,900. The approval of spot Ethereum ETFs is seen as a bullish narrative for Ethereum, as it will bring in new demand from institutional investors. However, there is a call to develop mass-appeal applications in order for Ethereum to truly succeed in the long run.
For those seeking higher upside potential, investing in lesser-known altcoins with smaller market caps may be the way to go. Core (CORE) has bounced strongly from the $1.50 support zone and is currently testing its 50-day moving average at $1.97. With a 22% increase in the last 24 hours, it is the top-performing coin in the top 100. Ondo Finance (ONDO) is another promising altcoin reaching new highs, standing at $1.1460 and up 7% on the day. With a focus on tokenizing real-world assets, Ondo Finance has seen significant growth in total value locked and could be a strong contender for the best crypto to buy now.
Another potential option is Uniswap (UNI), a leading decentralized exchange protocol that is currently testing key resistance just above $10. With an 11% increase in the last 24 hours, Uniswap is positioned well to benefit from the approval of Ethereum ETFs. This approval has also provided clarity on the status of Ethereum as a security, leading to a positive market sentiment. If Uniswap can break through the $10 resistance level, it may see quick gains and retest yearly highs at $17, offering potential for a 70% increase.
Ethereum’s dominance in the blockchain space is expected to solidify with the influx of new buyers through spot Ethereum ETFs. As demand for these ETFs grows, Ethereum is likely to reach new record highs in the near future. While the ETF approval is positive for Ethereum, there is still a need for the development of killer applications that appeal to a wider audience. For investors looking for significant gains beyond what Ethereum may offer, exploring smaller coins with higher risk profiles could be a lucrative option.
In conclusion, the cryptocurrency market is currently experiencing positive momentum with the approval of spot Ethereum ETFs. Ethereum remains a strong candidate for investment, with the potential to reach new record highs in the coming months. However, for investors seeking higher upside potential, exploring lesser-known altcoins with smaller market caps could offer significant gains. Core, Ondo Finance, and Uniswap are a few examples of altcoins that are performing well and could be worth considering for investment. It is essential to remember that investing in cryptocurrencies carries high risk and individuals should conduct thorough research and exercise caution before making any investment decisions.
