Crypto markets have rebounded as Bitcoin pushes past $61,000 thanks to a softer-than-expected US labor market report. With the Fed potentially cutting interest rates, investors are looking for opportunities in the altcoin market. Some of the top-performing altcoins include Ordinals protocol (ORDI), Pendle (PENDLE), and Hedera (HBAR). ORDI, a protocol built on top of the Bitcoin blockchain, has seen a 16% increase in the past 24 hours. PENDLE, a future yield tokenization and trading protocol, has surged over 25%. HBAR, the token powering the Hedera public ledger, is up 13% in the past 24 hours.
Investing in smaller, lesser-known altcoins is a great way to make quick profits in the crypto market. One strategy that investors can consider is participating in presales of new crypto ICOs. Many up-and-coming web3 start-ups raise funds by selling their native protocol tokens at a discount during the presale phase. If the project becomes successful, investors can see gains of up to 10x or more. However, investing in new crypto ICOs also comes with risks, as success depends on management and execution. The team at Cryptonews has compiled a list of 18 favorite projects for investors to consider.
ORDI, the Ordinals protocol token, has been on the rise as Bitcoin moves back above $60,000. The token is currently priced at $41.30 and is eyeing a test of its 21DMA at $43.50. If ORDI can recover towards its 2024 highs in the $90s, it could potentially yield quick gains of more than 2x. PENDLE, a future yield tokenization and trading protocol, has seen a 13% increase in the past 24 hours, with a market cap near $1.2 billion. With its TVL over $4.5 billion and rising, the price of PENDLE could continue to recover. HBAR, the token powering the Hedera public ledger, has surged 13% in the past 24 hours and is currently priced at around $0.11.
When investing in new crypto ICOs through presales, investors should be aware of the risks involved. Success in presales depends on the competence of management and execution of the project. However, presale investors can see significant gains if the project gains traction and reaches a higher market cap. The team at Cryptonews has curated a list of 18 favorite projects for investors to consider when looking for opportunities in the crypto market. Additionally, Crypto Arjay from Cryptonews has shared his top three presale picks in a video for investors to explore potential investment opportunities.
