Top Cryptocurrencies to Consider Buying Now – Kaspa, Ordi, Kasmy
As the price of Bitcoin (BTC) looks to retest $70,000, following a weaker-than-expected US labor market report, traders are exploring alternative cryptocurrency markets for potential quick gains. With the decline in job openings to 8.06 million in April, the lowest reading since June 2021, and the increasing likelihood of a Fed rate cut, investors are eager to identify the best cryptocurrencies to buy now.
The recent data has further boosted confidence in a September interest rate cut, with market-implied odds reaching over 65%. This growing sentiment is driving traders to hope that the official jobs report on Friday will also indicate a softening labor market, potentially propelling Bitcoin back above $70,000 on a sustained basis. Technical analysis supports the possibility of further upside, as Bitcoin has found strong support at its 21-day moving average in recent sessions. Therefore, Bitcoin is considered one of the best cryptocurrencies to buy at the moment.
While major cryptocurrencies like ETH, DOGE, SHIB, AVAX, and LINK experienced modest losses in the past 24 hours, BNB, SOL, XRP, and TON saw slight gains during the same period. Despite this mixed performance, there are several altcoins that have shown significant strength and could be worth considering as the best cryptocurrencies to buy now.
Kaspa (KAS) is a top performer, with a nearly 18% increase in the past 24 hours. It is currently priced just below $0.18 and is aiming to challenge its yearly highs around $0.19. With a rebound of over 75% from its April/May lows, Kaspa has the potential to continue its momentum and test its 2024 highs at $0.19. Since its launch in mid-2022, Kaspa has been one of the best-performing cryptocurrencies globally, with an impressive 85,000% increase since June 2022. Despite this remarkable growth, its modest market cap of $4.22 billion suggests there may still be significant upside potential, making KAS a strong contender for the best cryptocurrency to buy today.
Another cryptocurrency to consider is Ordi (ORDI), the Bitcoin inscription protocol. Ordi has seen a 13.5% increase in the past 24 hours, currently trading near $52.2. With a market cap of around $1.1 billion, there is ample room for further growth if the bull market continues. Assuming rapid adoption, Ordi has the potential to increase 5-10 times, making it a promising option among the best cryptocurrencies to buy now.
JasmyCoin (JASMY), a decentralized Internet of Things (IoT) protocol, has also experienced a strong rally, with a 12% increase in the past 24 hours. Currently priced just below $0.040, JASMY has shown a remarkable 1,300% increase from its 2023 lows of around $0.003. Although it is still down approximately 99% from its all-time high price in late 2021, this suggests that there is significant room for growth if it continues to rise alongside the broader market. Therefore, JASMY is a potential candidate for the best cryptocurrency to buy today.
In conclusion, while Bitcoin remains a strong choice for investment, other cryptocurrencies such as Kaspa, Ordi, and JasmyCoin have shown promising performance and could be considered as the best cryptocurrencies to buy now. Investors should conduct thorough research and analysis before making any investment decisions.
