Best Crypto to Buy Now August 3 - Optimism, Shibie, Kaspa

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‘What is the best crypto to buy right now’ is a common question asked by investors – in this article we explore a range of tokens to watch.

It’s different in the crypto ecosystem today, as trends deviate widely from speculated directions. The crypto market appears quite unstable, with the price of assets fluctuating between extremes.

The most surprising trend is the shift in the global crypto market cap. Its gross instability presents a concern, especially its value that keeps swinging from green to red every 24 hours.

Nonetheless, there are still hopes as some cryptocurrencies present opportunities for short- and long-term gains.

Global Crypto Market Cap Chart

Today’s post provides a quick review of potential high-yield tokens. Overall, adequate efforts were spent on analyzing each coin featured below. They’ve been found to meet fundamental metrics that attest to their performance and potential for better performance in the future.

However, crypto remains one of the most volatile financial markets today. Therefore, it’s best to conduct extensive research before making financial decisions.

Best Crypto to Buy Now

Now that LTC halving is out of the way, LTC holders, investors, and traders must watch the price movement closely to decide what actions are best. In the meantime, what are the best cryptos to buy now?

The answer to the question is provided below. But investors are also invited to explore the opportunities in the presale market. Some upcoming cryptocurrencies present an opportunity to earn sizable returns in the short run. Read till the end to find out more.

1. Kaspa (KAS)

Kaspa is back on the uptrend with an intraday gain of over 11%. As of press time, KAS has recorded more upturned than most assets in the crypto ecosystem. Moreover, before its recent decline, KAS printed over 5000% gains in less than six months of the year.

The project is considered a viable alternative to most Layer 1 blockchains because it uses the DAG protocol. The GHOSTDAG allows blocks created within the platform to coexist rather than aligning them in parallel, as seen on other blockchain platforms. Hence, the solution addresses the speed and scalability problem common to most layer 1 platfomrs. The upside is that it does that without sacrificing security.

With its trends, KAS may be one of the best cryptos to buy now, primarily due to its solid fundamentals and utility. At its current pace, it might soon climb the $0.5 range and aim for higher price points.

It recently surpassed its all-time high, and the rally is still strong. Also, the trading volume is still impressive. Moreover, KAS posts high liquidity, as seen from the market cap value.

Therefore, it’s safe that nothing stops Kaspa from reaching more highs. The only downside, however, is that the platform has yet to gain wider traction. Therefore, there are high chances of volatility down the line.

Transparency, fairness, and community: the pillars of Kaspa's launch. The $KAS journey began with no pre-mines or pre-sales. A true embodiment of #SatoshiNakamoto's 'fair launch' vision.

Read our full story: https://t.co/iJozKrHMNg #Kaspa #FairLaunch #Crypto pic.twitter.com/3qu0JOFiyE

— Kaspa (@KaspaCurrency) July 25, 2023

Also, its RSI (14) reading is within the overbought zone, meaning It might result in the possibility of sell-offs during the weekend. Nonetheless, the token shows immense potential in the short and long term.

2. Optimism (OP)

Despite being a highly volatile asset, OP is often the best crypto to buy, especially for a short-term swing opportunity. Considering its performance in the last seven days, OP might have the potential to bring in profit for a short-term trade.

Its current price exceeds its 200-day EMA, meaning the market might wait to push the sell button. Also, its trading volume is still on the rise, indicating that confidence in the asset is going strong for the time being.

Furthermore, the price of Optimism in the last 24 hours has increased by about 3%, indicating that the asset can push its gains further up the chart. While OP may still be far from its Y2D high, its current price action shows that the market still has a bullish interest in the token.

Also, there are growing use cases of the Layer 2 solution, and its performance against competition in the sector is impressive. Recent activities towards improving the value offered by the platform include the introduction of the Optimism superchain faucet.

Introducing the Superchain Faucet, which allows builders to leverage onchain reputation data to secure up to 1ETH in testnet funds daily.

Here’s how to make this happen:https://t.co/UDh0uXLNjH

— OP Labs (@OPLabsPBC) August 1, 2023

On the flip side, OP is known for intermittent dumps from releasing new tokens into the market. Therefore, before deciding to buy or trade OP, it’s best to factor in the price volatility.

3. Uniswap (UNI)

It might be another opportunity to buy UNI. Following a week-long upward trend, the exploit of the DEX sector during the weekend may have deterred UNI from its momentum. The token recorded a 6% loss today and is still on a downward trend.

The downward trend presents the chance to buy when it’s low. However, this downtrend would not last long because the token has strong indicators pointing to an imminent reversal. Therefore, it’s best to buy now that its price is low. Its price will soon swing into a pullback, and it might be too late to reap the maximum returns.

From its chart, it is currently trading at the overbought zone, which means before the weekend, the coin would be back in the uptrend, and the trend might take the token above its immediate resistance at $6.4 and might be enough to push it into the $7 zone.

Generally, Uniswap’s performance over the month shows that it’s one of the best cryptos to buy now. However, its high volatility makes it less unideal for long-term strategy.

4. Aave (AAVE)

Aave was on its way to $100 before the Curve crisis. Less than 48 hours after the exploit, Aave lost most of its gains over the month. The strong fundamentals of Aave are all that saved it from plunging even further. Many tokens in the DeFi sector are yet to recover from the decline.

The Aave platform is mainly designed to provide decentralized lending services to the Ethereum blockchain. With the Aave protocol, participants stake cryptocurrencies and earn passive income from the interest on the liquidity pool.

The Aave RSI (14) readings show that the token has reached the oversold range and might see some price reversal soon. Coupled with the fact that it still has GHO stablecoin in the market, it could stabilize its price going forward.

However, the future price of Aave hangs on the balance, as is the future of other tokens in the DeFi sector. The activity of Michael Egorov, the founder of Curve, could impact the industry significantly. The founder holds a sizable loan, ranging to $76.6 million.

10 Million GHO Minted pic.twitter.com/CTsE56E2pI

— GHO (@GHOAave) August 1, 2023

Unfortunately, the loan is backed by CRV. The threat of liquidation hanging over the head of Egorov could mean a substantial amount of CRV flowing into the market.

As a result, the price of assets in the sector faces a threat of disruption: most especially Aave, which currently holds over $150 million worth of CRV.

5. Shibie (SHIBIE)

Shibie is another nonconformist cryptocurrency project making its way into the memecoin category. Investors who missed out on past best-performing degen crypto opportunities should look at this.

The project describes itself as the Bitch of the crypto world, a testament to its nonconformist nature. It aims at restarting Shiba Inu’s revolution with a different dog breed.

Currently, the SHIBIE token is on sale at a discount, and it invites investors to participate in the project. According to the information on its presale page, the project will release 6,000,000,000 in the presale round, with each token valued at $ 0.0001666665. The softcap of the presale round is set to $999,999.

With the low cap, the chance of earning multiple times on early investment is relatively high. However, there’s a need to get in early to get the best of the token because memecoins often favor investors who get in earliest.

📢 The wait is over! The #Shibie presale is NOW ON. Don't miss this golden opportunity to be a part of the Shibie community from the start. Secure your future in the world of #crypto today! ⏳🐕 #Presale 💋💋💋https://t.co/BLdI0jv7ku pic.twitter.com/m5ceRYT1nT

— Shibie Coin | Live (@ShibieCoin) August 1, 2023

Moreover, Shibie is about more than just tokenomics and investments. It’s also working towards raising a community of fun lovers. The type of content shared across its social media platforms shows room for endless fun.

Visit Shibie presale