Best Crypto to Buy Today February 8 – BitTorrent, Stacks, Dymension
Cryptocurrencies like BitTorrent, Stacks and Dymension compete for best crypto to buy today / Image by cryptonews.com
Crypto markets are pumping on Thursday, with Bitcoin (BTC) and Ether (ETH) both at multi-week highs, though investors looking for the best crypto to buy today will still be eyeing up smaller altcoin markets, which can offer even more impressive near-term gains.
Bitcoin is back in the $45,000s and Ether in the $2,400s as the cryptocurrencies benefit from a number of tailwinds.
US equities are scaling fresh record highs and Fed policymakers keep talking about rate cuts later this year.
That is giving the market macro tailwinds, while Bitcoin is also benefitting from fading GBTC sell pressure.
BTC could also be gaining on safe-haven demand as concerns bubble about the health of US regional banks.
Ether, meanwhile, is receiving tailwinds from optimism about a near-term mainnet upgrade, and on news that spot ETF applicants recently amended their filings.
After successful testnet upgrades, Ethereum developers will deploy the Dencun upgrade on the mainnet on March 13th.
ARK 21Shares amended their spot Ethereum ETF to a cash creation model more similar to their recently approved Bitcoin ETF.
That suggests potential coordination with SEC officials, which could be interpreted as implying a high likelihood their ETF gets approval.
Multiple spot Ethereum ETFs could be approved as soon as May.
While BTC and ETH are up 3-5% in the past 24 hours, certain smaller altcoins are seeing much larger gains.
Let’s take a look at Thursday’s best performers and assess whether they might be the best crypto to buy today.
Best Crypto to Buy Today
BitTorrent (BTT)
BitTorrent (BTT) token recently broke to the north of a downtrend that had been in play since December.
BTT was last up over 25% in 24-hours, as per CoinMarketCap.
The token was last trading around $0.0000010, but could be set for a retest of December highs at $0.0000017.
The prospect of near-term 65% gains means BTT could be one of the best crypto to buy today.
Stacks (STX)
As Bitcoin pushes to fresh multi-week highs, one of its most promising layer-2 networks Stacks (STX) is pumping.
As per CoinMarketCap, STX was last up 18% in 24 hours.
Having broken decisively back above its 21 and 50DMAs, STX looks odds on to retest 2024 highs above $2.0.
With STX currently just under $1.80, that means potential near-term gains of 15%.
That could make STX one of the best crypto to buy today.
Dymension (DYM)
Just launched “RollApp”-focused layer-1 blockchain Dymension is enjoying tailwinds on Thursday.
At $7.12, it was last up 18% in 24 hours, and is eyeing a retest of post ICO highs at $8.40.
Dymension was launched earlier this week in one of 2024’s most exciting airdrops, with users of multiple blockchains receiving tokens.
The prospect of a near-term 20% rally to record highs makes DYM one of the best crypto to buy today.
Crypto Alternatives to Consider
All of the above coins offer potential investors a chance to make 10x gains.
But, for those looking for a better probability of near-term gains, an alternative high-risk, high-reward investment strategy to consider is getting involved in crypto presales.
This is where investors buy the tokens of startup crypto projects to help fund their development.
These tokens are nearly always sold cheaply, and there is a long history of presales delivering huge exponential gains to early investors.
Many of these projects have fantastic teams behind them and a great vision to deliver a unique crypto application/platform.
If an investor can identify such projects, the risk/reward of their presale investment is very good.
The team at Cryptonews spends a lot of time combing through presale projects to help investors out.
Here is a list of 15 of what the project deems as the best crypto presales of 2023:
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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