Top Cryptocurrencies to Consider Acquiring on April 9 – Fantom, Toncoin, Ethena

As leading cryptocurrencies experience a significant decline on Tuesday, with Bitcoin (BTC) and Ether (ETH) both falling approximately 4% over the last 24 hours, traders are searching for the most promising crypto to purchase now for quick profits.

Bitcoin was last seen trading just under $69,000, while Ether hovered around $3,500. In the meantime, BNB, Solana, and Dogecoin each experienced declines in the range of 2-7% during the same timeframe.

This downward price movement aligns with the crypto market‘s recent rangebound trading patterns.

In light of the uncertainty regarding a price surge ahead of the April 20 Bitcoin halving, selling pressure in the crypto market has intensified following Bitcoin’s approach to record highs exceeding $72,000 on Monday.

Indeed, many traders believe that the halving could turn into a “sell-the-news” scenario. Consequently, aggressive buying ahead of the halving appears illogical to numerous market participants.

Others, including prominent trader Arthur Hayes, suggest that macroeconomic factors may pose a near-term challenge. Upcoming US tax payments and Federal Reserve tightening are expected to reduce USD liquidity in the weeks ahead, creating a short-term headwind for the market.

Just IN: Arthur Hayes anticipates weakness in the cryptocurrency market from mid-April to the end of April due to U.S. tax obligations and Fed tightening, but a bullish trend is expected in May with Fed easing and Treasury stimulus; cautions of a potential price drop around the Bitcoin halving; profits from…

— BitcoinWorld Media (@ItsBitcoinWorld) April 9, 2024

With concerns about a prolonged downturn in major crypto prices, traders are seeking to position themselves in altcoins that show better potential.

Smaller and lesser-known altcoins can experience significant gains despite overall market conditions if they possess strong bullish momentum or a compelling bullish narrative.

Here are some notable performers on Tuesday that could represent the best crypto to buy now.

Best Crypto to Buy Now

Fantom (FTM)

Fantom (FTM) bulls are firmly in control on Tuesday, despite the overall market decline.

According to CoinMarketCap, FTM was last reported up approximately 8% in 24 hours, having recovered above $1.

The token is poised for a potential retest of its 2024 highs exceeding $1.20.

A breakthrough above this level could pave the way for a continued recovery towards the 2021 record highs of $3.67.

FTM could still yield investors 3-4x returns in this bull market, which is why it ranks among the best crypto to buy now.

Telegram-affiliated cryptocurrency Toncoin (TON) surged to new all-time highs on Tuesday. It could be the best crypto to buy now. Source: TradingView

Toncoin (TON)

Toncoin (TON), associated with Telegram, surged to fresh all-time highs on Tuesday.

As per CoinMarketCap, TON was last up around 7% in 24 hours, with a market cap exceeding $22.5 billion.

Its connection to the leading private messaging platform Telegram positions Toncoin as a potential frontrunner in the 2024 bull market.

Speculation that Tether will announce an expansion of its USDT stablecoin to the Toncoin network next week may be fueling this momentum.

Its market cap could increase significantly from this point, with investors potentially looking at 3-5x gains.

That’s why it could be the best crypto to buy now.

Ethena (ENA)

Ethena (ENA) reached new record highs above $1.40 per token on Tuesday.

It has since retraced to around $1.23, resulting in a market cap of $1.16 billion.

However, Ethena remains highly popular and a significant topic of discussion in the crypto space currently.

Having launched its token just a week ago, it has surged 4x during that time.

Ethena is a decentralized finance protocol responsible for the issuance of the innovative yield-bearing USDe token.

The protocol recently incorporated Bitcoin as a collateral option, further enhancing the excitement.

Ethena aims to replicate the success of the Terra blockchain’s UST cryptocurrency, but without the dramatic collapse.

The protocol currently boasts $2.27 billion in total value locked (TVL), according to DeFi Llama. With Bitcoin as a collateral option, this figure could rise significantly.

Ethena’s market cap could potentially increase at least 5x in this bull market, which is why it is considered one of the best cryptos to buy now.

Crypto Alternatives to Consider

All of the aforementioned coins present potential investors with an excellent opportunity for 10x returns.

However, for those seeking a higher likelihood of short-term gains, an alternative high-risk, high-reward strategy to explore is participating in crypto presales.

This involves investors purchasing tokens from emerging crypto projects to support their development.

These tokens are typically sold at low prices, and there is a proven history of presales yielding substantial exponential gains for early investors.

Many of these projects are backed by exceptional teams and possess a strong vision to create a groundbreaking crypto application or platform.

If an investor can identify such projects, the risk/reward ratio of their presale investment is quite favorable.

The team at Cryptonews dedicates significant time to reviewing presale projects to assist investors.

Here is a list of 14 cryptocurrencies that the project considers to be the best presales of 2024.

See the 14 Cryptocurrencies

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