With a bullish cryptocurrency mood on Tuesday, investors are looking for the best cryptocurrency to buy today.
Bitcoin (BTC) continues to hold at two-week highs around $43,000, comfortably above the 21 and 50DMA.
Concerns about grayscale selling pressure faded this week as GBTC capital inflows eased.
Meanwhile, Ethereum (ETH) rose back above $2,300 after Standard Chartered infused optimism into the Ethereum ETF in its latest research note.
The multinational bank believes that Ethereum could reach $4,000 before May, which is when Ethereum ETFs would have been launched in the US.
However, the total market capitalization of cryptocurrencies has already risen by more than $50 billion this week, and is up $170 billion from recent lows of about $1.45 trillion.
Sentiment could improve further if the Fed accepts the possibility of imminent interest rate cuts in its policy announcement on Wednesday.
The US central bank is expected to leave interest rates unchanged at 5.25% to 5.5%.
With all that said, let’s take a look at the candidates for the best cryptocurrencies to buy today.
Best cryptocurrency to buy today
Bittensor ($TAO)
Decentralized artificial intelligence protocol BitTensor ($TAO) rose 12% to reach all-time highs on Tuesday above $470 per token.
Its latest push comes thanks to a shoutout from Ethereum founder Vitalik Buterin.
Last trading around $440, TAO is up nearly 10x from October lows amid continued outperformance of AI assets.
But its still-small market capitalization of about $2.7 billion leaves plenty of room for upside, considering that AI companies like Nvidia have valuations exceeding $1 trillion.
$TAO is classified as Account X Number. By AltsDaddy is number one trending on Tuesday.
SUI ($SUI)
The high-throughput layer-one blockchain technology Sui (SUI) launched in May 2023 reached multi-quarter highs on Tuesday.
$SUI reached the mid-$1.60 level for the first time since its launch last year, but has since retreated below $1.55.
This still leaves it up 320% from last October’s lows of around $0.36.
Sei ($SEI)
Finance-focused blockchain token Sei ($SEI) rose 8% on Tuesday, taking its gains from January lows to more than 30%.
With a relatively small market capitalization of $1.8 billion and huge potential for a new, technologically advanced blockchain, Sei still offers a good opportunity to achieve 10x earnings or more.
Crypto alternatives to consider
The currencies mentioned above offer huge potential returns, but they also carry significant risks.
For those looking for a greater opportunity for short-term profits, a high-risk, high-reward alternative investment strategy to consider is participating in a cryptocurrency pre-sale.
This is where investors buy tokens for new cryptocurrency projects to help fund their development.
These tokens are always sold at a low price and there is a long history of pre-sales generating huge profits for early investors.
Many of these projects have great teams behind them and a great vision to deliver a revolutionary crypto application/platform.
If the investor can identify such projects, the risk/reward of the pre-sale investment is very good.
The Cryptonews team spends a lot of time reviewing pre-sale projects to help investors.
Below is a list of 15 of what the project considers to be the best pre-crypto sales of 2023.