Top Cryptocurrencies to Consider Acquiring on November 1 – Cardano, Mantra, Raydium

Major cryptocurrencies are exhibiting mixed trading patterns as Bitcoin (BTC) experiences a pullback after nearly reaching new all-time highs earlier this week, prompting investors to evaluate which cryptocurrencies might be the best to purchase at this moment.

BTC was last seen trading just under $69,000, marking a decline of over 6% from its recent peaks in the $73,000s, as cautious investors take profits ahead of the upcoming US presidential election next week.

While former US President Donald Trump remains the frontrunner, his odds have slightly decreased in recent days, and the increased uncertainty surrounding the election outcome appears to have unsettled the Bitcoin markets.

Latest Election Odds
Trump • 61.1% chance
Harris • 38.9% chance
3 days to go. pic.twitter.com/8iSK6CSdug

— Polymarket (@Polymarket) November 1, 2024

Other significant cryptocurrencies showed mixed results, with Ethereum (ETH), BNB (BNB), and Solana (SOL) declining by 1-3% over the past 24 hours, while Cardano (ADA) and Toncoin (TON) increased by 1.5-3%, according to CoinMarketCap.

However, there remains optimism for a potential rally in the cryptocurrency markets once the uncertainty surrounding the US elections dissipates.

The most recent US jobs data for October was weaker than expected, reinforcing expectations that the Federal Reserve will continue to gradually reduce interest rates, despite other US economic indicators (such as the recently released Q3 GDP figures) remaining robust.

A new administration, whether Republican or Democrat, is expected to implement policies favorable to the cryptocurrency sector.

Bitcoin could potentially surge towards $100,000 later this year, potentially lifting the altcoin market alongside it.

$100K #Bitcoin by end of year pic.twitter.com/IG4DJerT7h

— The ₿itcoin Therapist (@TheBTCTherapist) November 1, 2024

Consequently, investors are actively searching for the best cryptocurrencies to acquire at this time. Below are some altcoins that have shown strong performance on Friday and may be worthwhile candidates.

Best Crypto to Buy Now – Which Are They?

Cardano (ADA)

As the 10th largest cryptocurrency by market capitalization, Cardano (ADA) is one of the few cryptocurrencies in the positive territory over the past 24 hours, according to CoinMarketCap, having increased by 3% to trade above $0.35.

For investors seeking to enter a well-established coin that may be undervalued compared to the broader market, Cardano could represent the best crypto to buy now.

ADA has declined by 40% this year, in contrast to Bitcoin’s 63% gains. The onset of a new altcoin season could lead to the cryptocurrency outperforming if there is any “catch-up” effect.

However, Cardano lacks a compelling adoption narrative (which contributes to its underperformance) with subdued growth in on-chain activity in recent years. This indicates a risk of continued underperformance in the long term.

Mantra (OM)

The innovative, market-leading real-world asset (RWA) tokenization protocol Mantra (OM) is another strong performer today, rising just over 2% in the last 24 hours according to CoinMarketCap.

OM’s upward trend this year has been remarkable and could continue into 2025 – a Trump election victory could ignite hopes for comprehensive crypto regulations, which may enhance the RWA narrative.

Last priced at $1.40, Mantra’s market capitalization was approximately $1.2 billion, with significant upside potential still available. This is why OM might be the best crypto to buy now.

Raydium (RAY)

In addition, leading Solana DEX Raydium (RAY) is another notable performer. According to TradingView, RAY was last trading around $3.30, nearing the two-and-a-half-year highs it achieved earlier this month.

As Solana’s ecosystem rapidly grows, RAY could be one of the primary protocols to continue appreciating.

Given that it remains over 80% down from its 2021 record highs, RAY has at least 5x potential, making it a candidate for the best crypto to buy now.

However, for Solana traders seeking even greater upside potential, new Solana meme coins might be worth considering.

Of course, numerous new meme coins emerge daily, with the vast majority failing to achieve any significant success.

This is why analysts at cryptonews.com dedicate considerable time to analyzing the market for high-potential opportunities. Here are some of their top Solana meme coin recommendations at present.

10 Best Solana Meme Coins to Buy in November 2024

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