As we draw near the end of the market liquidity crunch, many people are wondering which are the best crypto to buy in preparation for a potential rally. We have thus compiled a list which could aid with the selection.
Finding the best crypto to buy right now can be a daunting task given the vast variety of options currently available. Should you buy a coin because it has the most potential gains or should you buy because it has been tried and tested, with a clear and unique approach?
Criteria for our list of the best crypto to buy now
We recognize the fact that there are coins that have potential to deliver over 50X or even as much as 200X. However, pinpointing such projects can be akin to finding a needle in a haystack. In other words, the lower down you go in the list of less popular coins, the less certainty there is regarding their future potential.
Judging by the above logic, we opted to look at coins that will likely have robust staying power even in future bull markets. These are coins that have been tried and tested. Coins whose protocols are well established and which can still be termed as undervalued compared to their maximum potential. Coins that are more likely to benefit from liquidity circulation due to their popularity.
These are the best crypto to buy
Bitcoin (BTC)
You might be surprised that Bitcoin is in the list of the best crypto to buy right now particularly due to its hefty price tag. However, this is a good time to remind you that the global financial system is showing its cracks and many view Bitcoin as digital gold. That means demand for Bitcoin might only be beginning. Governments and institutions across the globe will embrace BTC. The idea of a 1 million BTC is not so farfetched.
Bitcoin is one of the best crypto because it is the pioneer in the segment and thus the most recognized. In fact, its price action in 2024 is the perfect example. Altcoins have underperformed for the most part as Bitcoin found favor with ETFs.
Ethereum (ETH)
Despite its network related challenges, Ethereum has stood the test of time as the king of the altcoins. It also boasts of an extensive ecosystem hence it could be described as a more mature network than most of its rivals. Judging by these observations, it is clear that Ethereum is not slowing down any time soon.
ETH is therefore strategically positioned to leverage more potential growth in the future. As a result, millions of investors across the globe still consider ETH a healthy investment even though it has already secured a large marketcap. In other words, this is a coin that can still soak up a lot of liquidity moving in the long term. ETH’s deflationary characteristics also sweeten the deal further, making it an attractive crypto to buy now.
Solana (SOL)
The top down liquidity approach favors Solana as one of the most successful Ethereum rivals. Its spectacular performance in the last 12 months no doubt underscores its robust position in the crypto market. Solana has so far cemented its position in the top ten most valuable blockchains and cryptocurrencies by marketcap.
Solana is expected to capitalize if the market turns heavily bullish again. The recent market pullback resulted in a significant discount which makes it an attractive entry for long-term traders. And when liquidity flows back into altcoins, we can expect Solana to be one of the top beneficiaries.
Chainlink (LINK)
Chainlink ranks highly as far as projects that have robust utility are concerned. This is because it is one of the niche protocols offering data indexing services in the blockchain space. Its native token LINK is baked into this utility, which means LINK’s organic demand could explode in the future once blockchain technology goes mainstream and gets widely adopted.
So, why consider adding LINK to your portfolio? Chainlink’s strategic position could fuel robust demand for LINK. Its decentralized oracle network has significant potential, which means it is a proper contender for a space in the list of the best crypto to buy now.
Polygon (MATIC)
Polygon is one of the most popular Ethereum layer 2 scaling solutions. Not only does it offer cheaper transactions than the mainnet, it also enjoys significant adoption with quite a variety of dapps launchd on its network.
Robust adoption creates healthy demand for the MATIC token. The latter rallied by over 17,000% during the 2021 bull run. Although it is still trading at a premium compared to the 2021 lows, it is currently trading at an 80% discount from its historic high, meaning it has a lot of room for more upside in case the bulls do their thing. Its strong affiliation with the Ethereum network makes it a strong candidate for the best crypto to buy for the next bull run.
Cardano (ADA)
Cardano has potential to be the next most hyped blockchain just as has been the case with Solana. The network is popular for its focus on sustainability, security and scalability. More recently, the network managed to ward off a DDOS attack which ended up boosting Cardano’s popularity.
Cardano boasts a strong community but its native token ADA has underperformed in recent times. It rallied by over 1,600% during the 2021 bull run. The network is still growing and ADA is now trading at a fraction of its historic all-time high. ADA still has a strong position as a top blockchain which has robust potential growth. Strong ecosystem growth equates to healthy demand for ADA and this is why ADA is one of the best crypto to buy ahead of the next rally.
Conclusion on the best crypto to buy
You may have noticed that all of the coins listed here are in the top 50 list by marketcap. This is because they have a significantly high amount of liquidity that is already resting in their ecosystems. They are also likely to attract the bulk of investment flowing into the market, especially from investors considering less risky coins. It thus makes sense for most investors to have some exposure on these coins and this makes them the best crypto to consider adding to your portfolio. However, this does not necessarily mean we endorse buying them, hence this is not financial advice.
Also read about the 10 Best Altcoins 2024 Must Invest in
