The crypto market experienced another bearish day with Bitcoin (BTC) and Ether (ETH) dropping in value. Investors are looking for alternative coins to invest in during this period. The near-term outlook for major cryptocurrencies is downbeat due to recent bearish macro developments and the potential sell-off following the upcoming Bitcoin halving event. This has led investors to be more selective in choosing which altcoins to buy in order to increase the likelihood of gaining near-term profits. Some outperforming altcoins on Wednesday that could be potential buys include Injective (INJ), Sui (SUI), and Bitget Token (BGB). These coins are showing signs of potential rebounds and growth, making them attractive options for investors looking for the best crypto to buy now.
Injective (INJ), a decentralized trading protocol, is currently trading just above $27.50 with potential for a rebound to resistance around $30. Despite a recent 50% decline from its highs, INJ is still up around 27x versus its 2022 lows. With a modest market cap of $2.5 billion, there is room for future growth, potentially leading to 5-10x gains in this bull market. Sui (SUI), a proof-of-stake layer-1 blockchain, is trading around $1.30 after a 12% pump in the past 24 hours. The coin recently dropped by 40% from its highs, presenting a buying opportunity for investors. With a modest fully diluted market cap of around $12 billion, Sui could potentially see 5x gains, making it an interesting option for investors.
Bitget Token (BGB), the native token of centralized cryptocurrency exchange Bitget, is pushing towards record highs with a market cap of $1.26 billion. The token is up over 8% in the past 24 hours and could see further gains if the exchange continues to attract strong user demand. In addition to these altcoins, investors seeking higher probability of near-term gains might consider participating in crypto presales. These events allow investors to purchase tokens from up-and-coming crypto projects at discounted prices to provide funding for their development. While it is a high-risk, high-reward strategy, many presales have delivered exponential gains to early investors. The team at Cryptonews has compiled a list of 18 of the best crypto presales of 2024 to help investors identify potential opportunities for investment.
It is 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. The information provided in this article is for informational purposes only and does not constitute investment advice. Investors could potentially lose all of their capital when investing in cryptocurrencies. Despite the risks involved, the crypto market continues to attract investors looking for opportunities to grow their wealth through alternative investments such as altcoins and presales. By carefully selecting and diversifying their portfolio, investors can position themselves to take advantage of potential gains in the crypto market.
