Best Crypto to Buy Now August 12 - Frax Share, Conflux, Theta Network

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We cover some contenders for the best cryptocurrency to buy right now, potentially worth adding to your watchlist over the coming days.

Today’s top-performing asset in the crypto market comprises virtually all industry sectors. Invariably, it means that investors are becoming more liberal in capital allocation.

More importantly, investors are also developing an increasing interest in the memecoin sector as the top performers today are from the sector. Consequently, degen investors might be bracing up to have their time again.

Best Crypto to Buy Now

Moreover, the popularity of cryptocurrency is opening up new opportunities across the industry. The trend in the industry shows that investors are primarily focused on the top percentile of crypto assets. However, it’s widely known that some new projects on the market may provide an opportunity to earn higher ROIs.

Global Crypto Market Cap Chart

Hence, today’s review features the Chimpzee project, which is currently printing impressive performance in its presale offer. The Project brings a unique twist to social entrepreneurship through blockchain technology. Investors might want to take a look at it. More details are included below.

1. Conflux (CFX)

Conflux is experiencing a pump today. While this might appear sudden, it results from activities built over the week.

It started with the recent hardforks that opened up new frontiers on the Conflux network. After that, its NFT wing saw a surge in activities, with the Martell brandy as the driver of the trend.

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— Conflux Network Official (@Conflux_Network) August 11, 2023

Furthermore, Conflux is pushing the limits with its crypto narrative by sponsoring the Blockchain Futurist Conference. The thrill of the event is the decision to leverage the Decentraland metaverse as an alternate venue to the physical event.

This cluster of activities has created a spike in visibility for the CFX, which can be seen on its chart today. According to the data available on CoinMarketCap, CFX saw a price surge that increased by over 3% in the last 24 hours. Also, there was an increase of about 10% in its trading volume.

Besides the booming activities around the network, Conflux charts also indicate strength across several metrics. Its current trend shows that its price is up by over 180% in the last 52 weeks. Additionally, CFX’s current performance nets the output of some of the top cryptocurrencies.

Again, investors’ confidence in CFX is gradually moving towards being bullish with the fear/greed index value of 54. As the pressure from the bulls builds up around the token, the prospect of a price pump will increase dramatically. Overall, CFX is one of the best cryptos to buy now.

2. Frax Share (FXS)

Frax Share is currently on a pumping spree with over a 6% increase in price today. Why is the price of FXS rising? The current pump in the price of FXS is coming due to the social activities around the FXS token. Ultimately, there might be more to the pump, as more trends will likely follow soon.

The network released the final stablecoin, which purported to thrive in highs and lows. The token aims to provide a genuinely decentralized stablecoin that provides complete cryptocurrency services to the industry.

August 10, 2023: The Final Stablecoin💵3️⃣
Everything we know about Frax v3

Over the past week, the smartest people were buzzing about stablecoins, not mansions.

We reviewed all the shows, chats, and articles on the subject, so you don't have to…

🧵1/8👇 pic.twitter.com/nMtIHfnJTj

— curvecap.lens (@CurveCap) August 10, 2023

The move has sparked a review of the governance of the FRAX Protocol. Frax Share is the governance token of the Frax Protocol. The review has, therefore, sparked a demand for the token. As of today, there’s been an increase of over 65% in the trading volume of the asset. It accounts for the rising price of the asset.

However, it might be best to take more time to review the trend asset before deciding to get involved. Firstly, its current price is still below its long-term moving averages. Also, it’s been on a downtrend for most of the month. Consequently, it might not hold its game in the short run. However, the short-term trading strategy might benefit from the token already trading close to its $6.5 resistance. More bullish sentiment would likely take the price of FXS to $7 or more.

3. Theta Network (THETA)

THETA is another token to watch. Its performance in the last 24 hours shows the asset might be on an uptrend that would last through most of the coming week. In the last 24 hours, THETA saw a boost of over 3% in value. Likewise, the trading volume of the asset followed the same trend, with an increase of over 28% within that period.

The uptrend would likely continue into the new week with its relative strength index closer to the oversold range 41. However, THETA would have to overcome the resistance uphill at $0.77. With the growing value of its short-term moving averages, THETA will likely find the needed momentum to break above the $0.77 resistance.

However, there is a higher probability that it will break back into the downtrend at the $0.85 range as the current price trend is much below its long-term moving averages, which means that traders might want to make a profit.

Hence, THETA might be the best crypto to buy now for a short-term swing. Nonetheless, facts from the CoinCodex prediction algorithm indicate that the token might end the year with considerable profit.

Therefore, long-term holders might find solace in the prospect of a pump in the long run. But it’s best to remember that THETA is notorious for its volatility. Therefore, keeping a close eye on the price moment before making a long-term decision is best.

4. Pepe (PEPE)

PEPE has emerged as a SHIB contender in today’s crypto gainers list. The two coins printed impressive intra-day gains that resulted in a price surge. PEPE has increased over 8% in the last 24 hours, bringing it very close to the top of the gainers list today.

Is PEPE the best crypto to buy now? Pepe is recognized as the king of memes. Its launch activated the memecoins seasons. As memecoins trends resurface, it might be time to take cryptocurrencies like PEPE more seriously.

Pepe coin started on an upwards trend early in the week and has since climbed and amassed over 18% price gains. Even though the overall performance of the token has been below par in the last 30 days, PEPE will likely recover its lost value in the coming week.

Primarily, its high liquidity provides enough incentive to attract investors to the token, especially now that memecoins are trending in the market. Similarly, the sentiment of the crypto community towards PEPE is currently bullish.

Hence, we might see a continuous uptrend. Furthermore, PEPE’s relative strength index is neutral, simplifying that the market might still favor the bulls.

However, PEPE’s price is getting closer to its $0.0000014 resistance on the monthly chart. Also, its current price is slightly below its 100-day ema. These factors could influence the market’s reaction to PEPE in the coming week. With that in mind, studying the trend and understanding how it unfolds is best.

5. Chimpzee (CHMPZ)

Chimpzee is only six days from entering stage 10 of its presale offer. The performance of the team and the community has been quite excellent, with some impressive numbers to back it up.

So far, the project has raised $1.1 million in only nine stages. It attests to the commitment of the team and the focus of the Chimpzee army.

The presale is still on, with $1.856 million as the target. Investors passionate about the environment still have the chance to get on board.

The Chimpzee project is fighting to preserve the environment by raising an army of passionate individuals who want to be a part of the vision.

Interestingly, the project is already trying to combat deforestation before its launch.

Through one of its partnerships, the Chimpzee army has contributed over 1200 trees to the Brazilian rainforest, the largest rainforest in the world.

The team is also involved in various other climate and animal-focused initiatives.

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— Official Chimpzee Project (@RealChimpzee) August 10, 2023

Besides doing good to the planet, the project is also committed to the mutual prosperity of its community. The platform came up with several bonuses to reward the community.

Some benefits include the 100% bonus offered to new investors and, recently, 10 billion tokens burn. The move also aims to reduce the token’s total supply to as low as 50 billion CHMPZ over time. The project presale page offers additional information.

Visit the Chimpzee presale.