Top Cryptocurrencies to Invest in Now on June 3rd – Kaspa, Floki, Flare

Top Cryptocurrencies to Invest in Now – Kaspa, Floki, Flare


By Joel Frank
Updated:
June 3, 2024 13:51 EDT
|
3 min read


Best Cryptocurrencies to Invest in Now – Kaspa, Floki, Flare / Source: Cryptonews
In a week of mixed performance for digital asset markets, where Bitcoin (BTC) has surged to retest $70,000 but other major altcoins have struggled, crypto investors are now seeking smaller altcoins that show potential for high returns. Here are the best cryptocurrencies to invest in now.
Bitcoin
is currently trading in the mid-$69,000s, representing a 2% increase today.
Recent data reveals that
US manufacturing activity slowed down
for the second consecutive month in May.
This has increased speculation that the Federal Reserve will begin cutting interest rates by September.
The CME’s Fed Watch Tool indicates a 59% probability of at least one rate cut by September, up from 49% last week.
As a result, the US dollar and US bond yields have dropped to multi-week lows, creating favorable conditions for crypto.
Attention now turns to the release of US ISM services data on Wednesday and the official US jobs report on Friday.
If these data releases support the case for Fed rate cuts, it could push BTC back above $70,000.
Bitcoin remains a strong contender for the
best cryptocurrency to invest in now
.
Rate cuts, when implemented, will provide long-term support for the world’s largest cryptocurrency. Additionally, the effects of the recent halving are expected to kick in later this year.
This aligns well with the upcoming US election, another catalyst that has historically boosted the BTC price.
Furthermore, institutional adoption of Bitcoin is stronger than ever, with spot Bitcoin ETFs attracting continuous inflows.
According to The Block data, inflows have been consistently positive since mid-May.
Bitcoin has a chance of reaching $100,000 this year and potentially even higher in 2024.
It could even double from its current levels during this bull market, making it an excellent cryptocurrency to invest in now.
However, many investors are looking for higher potential gains and are turning to smaller, lesser-known
altcoins
that have the potential to increase in value by 5-10 times during this bull market.
Here are some top performers on Monday that could be the best cryptocurrencies to invest in now.
Best Cryptocurrencies to Invest in Now
Kaspa (KAS)
Kaspa (KAS), the cryptocurrency behind the innovative GHOSTDAG protocol, is experiencing significant growth.
According to
CoinMarketCap
, it has increased by nearly 12% in the past 24 hours, making it one of the top performers.
KAS is approaching the $0.16 mark, with a rebound of over 55% from the lows in April and May.
The momentum of this cryptocurrency is expected to continue until it reaches its 2024 highs at $0.19.


KAS could be the best cryptocurrency to invest in now. Source: TradingView
Since its launch in mid-2022, Kaspa has been one of the best-performing cryptocurrencies globally, with an increase of 85,000% since June 2022.
However, its market cap of $3.77 billion suggests that there is still plenty of room for growth. This is why KAS could be the best cryptocurrency to invest in today.
Floki (FLOKI)
Meme coins received a boost over the weekend after GameStop icon Roaring Kitty revealed a significant GME position on Reddit.
Floki (FLOKI) was one of the top performers, rising by 12% in the past 24 hours according to
CoinMarketCap
.
FLOKI recently rebounded from its 21-day moving average and may soon surpass its recent highs above $0.00030.
With a market cap of just $2.6 billion, Floki has plenty of room for growth compared to other meme coins, making it a potential top cryptocurrency to invest in now.
Flare (FLR)
Flare (FLR), a data-focused layer-1 blockchain, has seen an increase of over 6% on Monday, making it one of the best cryptocurrencies to invest in now.
FLR is currently trading just below $0.029 and is aiming to break above its 50-day moving average at $0.030.


FLR is another contender for the best cryptocurrency to invest in now. Source: TradingView
This could pave the way for a quick surge back to yearly highs above $0.055.
The potential for quick gains makes FLR one of the best cryptocurrencies to invest in today.
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