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Major cryptocurrencies are stabilizing on Tuesday following Monday’s significant drop driven by deleveraging, providing investors the opportunity to evaluate which crypto might be the most advantageous to purchase at this moment to capitalize on the recent market decline.
Bitcoin (BTC) was last seen trading flat at $67,000, just a few percentage points shy of the multi-month peaks it reached in the $69,000s during early trading on Monday.
BTC has risen an impressive 14% from its lows in October, making it understandable that the bulls are taking a pause.
Nonetheless, with the US presidential election seemingly poised to result in a crypto-friendly Trump victory and potential further Fed rate cuts on the horizon, the bullish sentiment is likely to persist.
Latest Election Odds (% chance of winning)
Trump • 63.9% chance
Harris • 36.0% chance
Only 14 days until the election. pic.twitter.com/YJW4UE9MuI— Polymarket (@Polymarket) October 22, 2024
Trump • 63.9% chanceDips in BTC are likely to draw in numerous buyers, with new all-time highs anticipated next month.
This indicates that Bitcoin could be the most suitable crypto to purchase at this time. However, some seasoned crypto traders may opt to invest in higher-beta altcoins that could outperform Bitcoin in the future.
Here are some notable performers on Tuesday that may represent the best crypto to buy now.
Best Crypto to Buy Now – Which Are They?
Solana meme coin Popcat (POPCAT) is the top-performing cryptocurrency in the top 100 by market capitalization over the past 24 hours on Tuesday, according to CoinMarketcap.
POPCAT maintained an 11% increase and traded around the $1.44 mark. The meme coin has experienced a robust upward trend since its August low of approximately $0.25, marking an increase of nearly 6x from those levels.
As one of the leading meme coins over the last two months, POPCAT could be a strong contender for the best crypto to buy now, especially if a new meme season is on the horizon.
Solana DEX Raydium (RAY) is another strong performer, rising 8.4% in the past 24 hours to the $2.67 range. It is aiming to test its highs from July.
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Buying RAY could soon lead to new yearly highs in the $3.0s.
According to DeFi Llama, its total value locked has surged back to its highest level since early 2022, exceeding $1.8 billion, while daily trading volumes are consistently around $1.5 billion, marking their highest levels of the year thus far.
As the Solana ecosystem expands, those seeking exposure may find RAY to be the best crypto to buy now.
Additionally, the privacy-oriented blockchain protocol Beam (BEAM) is another standout performer of the day.
According to CoinMarketCap, BEAM was last reported to be up about 7% in 24 hours, trading just below $0.019.
BEAM supporters will be optimistic about its potential to break through significant resistance in the $0.020 range and propel itself 2x higher towards yearly peaks near $0.038.
These cryptocurrencies may all be strong candidates for purchasing the best crypto now.
However, investors looking to tap into projects with greater upside potential might consider options in the crypto presale market.
Presales provide investors the chance to engage with high-potential projects at their earliest stages and, potentially, at their lowest prices ever.
Projects that gain traction often yield investors returns in the range of 10-20x.
Here are some of the best crypto presales currently available, as noted by analysts at Cryptonews.com.
17 Best Crypto Presales to Invest In Now
The post Best Crypto to Buy Now October 22 – Popcat, Raydium, Beam appeared first on Cryptonews.
