Top Crypto Picks for May 24 – Core, Ondo, Uniswap
Cryptocurrency markets are experiencing strong momentum at the end of the week following the SEC’s approval of spot Ethereum ETFs. With Bitcoin’s recovery to the $69,000 level, traders are now on the lookout for the best cryptocurrencies to buy for quick gains.
One of the top contenders is Ethereum (ETH). Despite a 20% increase this week, Ethereum is currently trading in the $3,700s and is still below its March and 2021 highs. However, the recent approval of spot Ethereum ETFs is expected to bring in a flood of new demand from institutional investors. This approval also eliminates any uncertainty regarding Ethereum’s status as a security. The market will likely interpret ETF approvals as a vote of confidence from US regulators, leading to increased liquidity in the Ethereum ecosystem. As a result, Ethereum is expected to solidify its position as the go-to blockchain for web3 projects and developers. With the potential for new record highs in the near future, Ethereum is a strong candidate for the best crypto to buy now.
For investors looking for higher upside potential, smaller altcoins with smaller market caps may be a better choice. Here are some top-performing altcoins on Friday that could see significant gains.
Core (CORE) has recently bounced back from the $1.50 support zone and is currently testing its 50DMA at $1.97. With a 22% increase in the past 24 hours, Core is the best-performing coin in the top 100, according to CoinMarketCap. Core is a new web3 blockchain that aims to be inclusive, decentralized, secure, and efficient. If it can return to its April highs, investors could see quick 2x gains in the next few weeks, making Core one of the best cryptos to buy now.
Ondo Finance (ONDO) is another coin that is reaching new record highs due to bets on Ethereum ecosystem growth. With a 7% increase on the day, ONDO is currently priced around $1.1460. Ondo Finance is known for its tokenization of real-world assets (RWA) and is considered one of the best RWA coins to invest in. The platform’s Ondo Short-Term US Government Treasuries (OUSG) token offers a yield of 4.96% and has nearly $200 million in trade value locked. Ondo Finance’s total value locked (TVL) has recently surpassed $450 million, more than doubling since the start of the year. With increasing inflows into the Ethereum ecosystem, ONDO’s upside potential is expected to accelerate, making it one of the best cryptos to buy now.
Uniswap (UNI), a leading decentralized exchange (DEX) protocol, is currently testing key resistance just above $10. With an 11% increase in the past 24 hours, Uniswap is benefiting from the approval of Ethereum ETFs. The sudden approval came as a surprise to the market, as the SEC had previously been pushing to label ETH as a security. The approval clears up any doubts about Ethereum’s status, and Uniswap bulls are hoping for a similar policy reversal from the SEC. If Uniswap can break through the $10 resistance, it could quickly retest its yearly highs at $17, potentially leading to a 70% gain. With this prospect in mind, UNI is considered one of the best cryptos to buy now.
Disclaimer: Cryptocurrency is a high-risk asset class, and this article is for informational purposes only and should not be considered investment advice. There is a risk of losing all of your capital.
