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In the wake of Donald Trump’s success in the U.S. Presidential election, cryptocurrency markets experienced a significant uptick, as investors looked for the best crypto to buy now to take advantage of expected bullish trends.
This pro-crypto perspective from the new administration has generated a series of optimistic narratives likely to shape market sentiment.
DECISION DESK CALLED IT!!! 270 FOR TRUMP!!! LFG!!!!!! pic.twitter.com/4dAh3QFERF
— 9mmSMG (@9mm_smg) November 6, 2024
Trump’s election victory presents a variety of bullish narratives for the cryptocurrency market, with his supportive stance on Bitcoin anticipated to attract additional interest.
Earlier this year, Trump openly endorsed Bitcoin, committing to create a national Bitcoin reserve and notably using Bitcoin for transactions in New York.
Bitcoin (BTC) soared to new heights above $75,000 as his victory became more assured.
Source: TradingView / BTCUSD
With a robust macroeconomic backdrop and the Federal Reserve’s recent interest rate reductions, there is potential for BTC to reach $100,000 by the end of the year, making it a leading candidate for the best crypto to buy now.
Nonetheless, altcoins might exhibit even stronger performance in the upcoming months.
With Trump promising to replace SEC Chair Gary Gensler, a significant regulatory transformation could be forthcoming, fostering a more favorable environment for cryptocurrencies.
Under Gensler’s leadership, the SEC’s regulatory measures have been contentious for the U.S. crypto sector.
Additionally, Trump has expressed support for decentralized finance (DeFi), backing his family’s initiative, World Liberty Financial.
The Republican majority in Congress further enhances the chances of pro-crypto legislation next year, paving the way for accelerated growth in the U.S. industry.
Given these potential developments, certain altcoins may be well-positioned to gain. Below are some candidates for the best crypto to buy now.
Best Crypto to Buy Now – Which Are They?
Uniswap (UNI)
Leading cross-chain DEX Uniswap (UNI), which launched its own chain earlier this year, has surged 30% in the past 24 hours, according to CoinMarketCap, reaching a price of $9.30.
The UNI price faced significant challenges earlier this year when the SEC issued a Wells Notice to Uniswap Labs, indicating its intention to pursue enforcement actions soon.
Cryptos making big moves:
– Uniswap (UNI). The DeFi sector may have been constrained by a Harris administration, leading to a substantial rise in UNI.
– Dogecoin (DOGE). Musk is a strong supporter. He mentions establishing a Department of Government Efficiency (D.O.G.E.). It’s governance by meme now!— Glen Goodman (@glengoodman) November 6, 2024
However, UNI supporters are hopeful that a future pro-crypto SEC will refrain from imposing damaging enforcement actions like this.
This would significantly enhance UNI’s prospects, greatly alleviating uncertainty surrounding the token in the U.S.
Current technical analysis suggests a favorable outlook for Uniswap.
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The token recently broke above an ascending triangle, indicating potential for further gains towards the May/June highs in the $12 range.
A retest of yearly highs at $17 may also be achievable before the year concludes, making it a strong candidate for the best crypto to buy now.
Aave (AAVE)
Aave (AAVE), a prominent DeFi protocol, has increased by 27% over the last 24 hours, as reported by CoinMarketCap.
This rise likely reflects expectations of pro-DeFi policies from the Trump administration, particularly with World Liberty Financial anticipated to build on Aave’s platform.
AAVE is currently trading near $170 and nearing its late September highs around $180.
Source: TradingView / AAVEUSD
Looking forward, AAVE has the potential for substantial gains. In 2021, the token surpassed $650, and some traders speculate that a strong rally could drive it back toward these levels.
This possibility enhances AAVE’s attractiveness as one of the best cryptos to buy now.
Solana (SOL)
Solana (SOL) has increased by over 10%, reaching its highest levels since July at $185, according to CoinMarketCap.
Previously categorized as a security in lawsuits involving major exchanges, Solana has continued to showcase its versatility and popularity as a layer-1 blockchain, especially through its support for meme trading and DeFi activities.
With the potential alleviation of regulatory uncertainty in the U.S., SOL appears well-positioned for future gains, potentially achieving significant growth in 2025.
solana all time high next btw
— Ansem
(@blknoiz06) November 6, 2024
(@blknoiz06) November 6, 2024Solana supporters are anticipating a retest of yearly highs around $210, with a potential breakthrough toward the 2021 highs of $260, making it a solid candidate for the best crypto to buy now.
Better Alternatives to Consider
Trump’s victory suggests the possibility of a new altcoin season, which could extend to meme coins.
With meme coin season approaching, some lesser-known coins may be poised for significant growth.
Analysts at Cryptonews.com consistently monitor the market for promising meme coins.
Here are some meme coin presales they believe have high potential that readers may want to consider.
18 Best New Meme Coins to Buy in November 2024
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