Cryptocurrency markets are experiencing strong momentum this week following the approval of spot Ethereum ETFs by the SEC. With Bitcoin back at the $69,000 level, traders are looking for the best crypto to buy now for quick gains. Ethereum, which has seen a 20% increase this week, remains stuck below its March highs in the $3,700 range and well below its 2021 highs near $4,900. The approval of spot Ethereum ETFs opens the door to a flood of new demand from institutional investors, solidifying Ethereum’s position as a go-to blockchain for web3 projects and developers. It is likely that Ethereum will hit new record highs in the near future, making it a candidate for the best crypto to buy now.
For investors looking for higher upside potential than Ethereum, they may need to invest in smaller, lesser-known coins with smaller market caps. Some strong-performing altcoins on Friday include Core (CORE) and Ondo Finance (ONDO). Core aims to be an inclusive, decentralized, secure, and efficient web3 blockchain and is testing its 50-day moving average after bouncing from the $1.50 support zone. Ondo Finance, which focuses on the tokenization of real-world assets, has seen significant growth in its total value locked and could be a good investment opportunity.
Uniswap (UNI), a leading decentralized exchange (DEX) protocol, is another potential investment option as it tests key resistance above $10. The sudden approval of spot Ethereum ETFs by the SEC has positively impacted Uniswap, as it removes doubts about ETH being labeled as a security. If Uniswap can break through $10 resistance, it could reach yearly highs at $17, offering the potential for quick gains of up to 70%. For investors looking for the best crypto to buy now, UNI could be a strong contender.
Overall, investing in cryptocurrency comes with high risk, and it is important to conduct thorough research and consider the potential for volatility in the market. The content provided is for informational purposes only and does not constitute investment advice. It is crucial to carefully assess your risk tolerance and investment goals before making any decisions in the crypto market. While Ethereum, Core, Ondo Finance, and Uniswap may offer potential opportunities for gains, it is essential to understand the risks involved and be prepared for fluctuations in value. Always proceed with caution and consult with financial professionals if needed when investing in cryptocurrency.
