The crypto markets experienced a rebound following a softer-than-expected US labor market report, with Bitcoin (BTC) rising nearly 5% to the upper $61,000s. Traders are now considering opportunities in the altcoin market as they search for the best crypto to buy today. The US economy added 175,000 jobs in April, below expectations, and the unemployment rate increased to 3.9%. As a result, the likelihood of more rate cuts by the Fed increased to around 62%, leading to a positive impact on the crypto markets. Altcoins like Solana (SOL), Dogecoin (DOGE), and Toncoin (TON) saw gains between 4% and 11% in the past 24 hours, with some smaller altcoins showing potential as the best crypto to buy at the moment.
One of the top-performing smaller altcoins currently is Ordinals protocol (ORDI), which allows for the minting of NFTs and other assets on the Bitcoin blockchain. ORDI has experienced a 16% increase in the past 24 hours, reaching $41.30. If ORDI can surpass its 21-day moving average at $43.50, it may signal the end of the recent bearish trend and potentially lead to quick gains. Another altcoin to consider is Pendle (PENDLE), a future yield tokenization and trading protocol. PENDLE has seen a significant price increase of over 25% in recent days, with room for further gains as the asset tokenization narrative gains traction in the market.
Hedera (HBAR), the token powering the decentralized Hedera public ledger, has also been rallying recently. With a 13% increase in the last 24 hours, HBAR is currently trading around $0.11. Although optimism surrounding BlackRock’s involvement with the blockchain has faded, Hedera continues to attract real-world adoption, positioning it as a potential best crypto to buy today. For investors looking to increase their risk profile, investing in new crypto ICOs through presales can offer profitable opportunities. By purchasing tokens at a discounted rate during the early stages of a project, investors can potentially achieve significant returns if the project gains traction in the market.
Investing in new crypto ICOs through presales comes with risks similar to traditional start-up investing, as the success of a project depends on management and execution. The potential for projects to reach market caps in the hundreds of millions presents an opportunity for presale investors to make substantial gains. To help investors navigate the vast array of new crypto ICOs, experienced teams like Cryptonews have identified and highlighted promising projects. By exploring presale opportunities in the crypto market, investors can diversify their portfolios and potentially capitalize on emerging trends and technologies. It’s important to note that crypto is a high-risk asset class, and investors should conduct thorough research and due diligence before making any investment decisions.
