Best Crypto to Buy Now August 18 - Ethereum, Flex, Shiba Inu

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Finding the best crypto to buy right now is a never-ending task, with dozens of tokens launched on CEX and DEX platforms daily.

The cryptocurrency market still revibrates with the shock of yesterday’s price slump. Notwithstanding, some tokens have returned to the uptrend, even though most cryptos are still grappling with the bear market.

ETH, for example, saw a price boost of 11% in the early hours of today, resulting from SEC’s favorable decision on the Ether-ETF. However, it encountered intense resistance, which sent its price tumbling back into a decline.

Similarly, bitcoin has retracted from the dip of $25.5k yesterday, bringing its value back to $26.5k. As the trend unfolds, investors must stay up-to-date and closely monitor the market, especially the assets in their portfolio.

Best Crypto to Buy Now

Generally, a bearish market often precedes periods of asset accumulation. What has come as a sudden downtime might be the best time to identify promising investments in the crypto sectors. While some cryptocurrencies are caving in and losing their value, others have demonstrated immense resilience.

Global Crypto Market Cap Chart

New crypto projects are also printing impressive performance, despite yesterday’s downturn. A good example is the Chimpzee project that recently crossed the $1.2 million mark. The project currently shows immense potential, and climate-minded investors should closely monitor it.

1. Ethereum (ETH)

Even though the crypto market is going through one of its deepest bearish markets this year, Ethereum recorded a surge of over 11%. In the early hours of today, the price of ETH briefly climbed to $1717 before receding to $1686.

The sudden changes in price and trading volume are the effect of the market’s reaction to the SEC’s decision to approve Ether-ETFs.

Bloomberg reported yesterday that the SEC had decided to approve the first Ethereum ETF. The decision is coming after the SEC’s prolonged bearish sentiment towards cryptocurrency.

The news further stated that Valkyrie might be the first to introduce the Ethereum futures ETF in the first week of October.

SEC’s Ethereum ETF approval will allow the financial market to invest in crypto the same way they do other companies’ stocks. It’s a trend that would revolutionize the market’s perspective on Ethereum and the entire crypto industry. It is believed that ETF would open the door to the inflow of trillions into the cryptocurrency market.

Currently, Ethereum is experiencing a pump in trading volume, despite the significant price decline. Similarly, Whale activities across the network have spiked in the last 24 hours.

The price drop is an opportunity to Ethereum before the market recovers from the bearish trend. With the ETF in place, the price of ETH is bound to spike dramatically in the coming months.

2. Flex (FLEX)

Will Flex Coin become the best crypto to buy now? Flex is one of the cryptocurrencies that operate below the radar. It is the native token of the CoinFLEX platform, which provides physically settled futures exchange services.

The FLEX token is used across all CoinFLEX products. It provides preferential advantages to holders of the token.

At press time, FLEX has seen an increase of over 4% in price, even though most cryptocurrencies are declining. Similarly, the token has seen a boost in trading volume.

Interestingly, the performance of FLEX Y2D puts the value of the asset above 98% of the best-performing cryptocurrencies. It has seen over a 4000% boost in price in the last year.

Furthermore, FLEX trends reveal that the token has seen over 19 green days in the last 30 days, positioning it for a massive gain as the quarter draws close.

Despite the upside, FLEX has some drawbacks that might threaten its sustainability. Firstly, the token is not listed on exchanges.

Consequently, the second problem of the token is low quality. Investors looking into the asset should make decisions with these factors in mind.

3. Cardano (ADA)

Cardano dip might be a good time to buy. While many have criticized the project for its slow progress, several upsides position the platform for exceptional performance in the future.

Primarily, Cardano boasts strong fundamentals typical of crypto projects with a knack for success.

Recently, the founder of Cardano, Charles Hoskinson, responded to critics by stating that the platform is here to stay. The statement appeared on his official Twitter handle.

No matter how many times the VC coins, the cryptomedia, or the maxi crowd proclaims we are dead, irrelevant, or failing, we always remind them that Cardano is here to stay https://t.co/tMbyfNf9PY pic.twitter.com/2c9O0wQtZi

— Charles Hoskinson (@IOHK_Charles) August 14, 2023

Cardano has been on a slow but progressive path lately, and its token ADA has been trading sideways recently with some decline in value. The crypto community has expressed concerns about the asset, with questions about platform use cases.

However, some of the strengths of Cardano include its consistent narrative and its efficiency. Many projects that migrate to the platform do so to take advantage of its uptime and cheap fees.

Despite the criticism and downside, Cardano saw a boost of about 49% in dApp activities across the network in Q2.

With its growing use cases, there might be a spike in the demand for ADA in the coming weeks. It might be the best time to buy ADA at its current discounted price as the asset has decreased over 3% since the bear market started yesterday.

4. Shiba Inu (SHIB)

Shiba Inu and its ecosystem made the news in the week over the launch of the Shibarium. However, the project landed with some hiccups, which attracted a mixed feeling across the market.

The market anticipated the launch of the Shibarium, believing that it would dramatically affect the price of SHIB and the assets in its ecosystem. However, Shibarium arrived with a hitch that withheld a sizable volume of ETH transactions.

The situation sparked an uproar across social media as users demanded clarification. Even though Shytoshi Kusama, Shiba Inu’s lead dev, released a blog post to clarify the situation, the market still lashed out at the development.

According to him, the issue stemmed from the volume of traffic the platform received after its launch. The influx exceeded the platform’s capacity, and there was a need to address the situation, which led to the brief shutdown.

Hence, is SHIB still one of the best cryptos to buy now? SHIB has an upbeat token with impressive traction before the bearish trend hit the crypto market. It was one of last week’s biggest gainers, outperforming the market by a wide margin.

While the crypto industry weather the storm, the SHIB dip is an opportunity to get in and buy at a discount.

Shiba Inu’s fundamentals remain strong, and the activities around the network have been above par. It still retains its position as the #14 crypto with a market cap of over $4.9 billion.

5. Chimpzee (CHMPZ)

Stage 9 of the Chimpzee presale ends in the next 15 hours. So far, the progress has been massive, and the team keeps pushing the project toward new heights.

At press time, the funds raised by the Chimpzee amount to $1,221,638, and over 1,948,250,172 CHMPZ has been sold in the process.

Presently, the token is still available at a discount. Before the end of stage 9, investors can still get the CHMPZ token for as low as $0.00085. As soon as the presale enters stage 10, the price increases to $0.00095.

Chimpzee is on a new mission to raise funds to help protect 1000 sq meters of an Australian Rain Forest! 🌲🐵

🔥We will also burn another 1 billion tokens when this goal is achieved! See our multi stage burn plan⬇️https://t.co/kkiKbvzV94

Take advantage of current Bonus before… pic.twitter.com/QCiX5OjvE8

— Official Chimpzee Project (@RealChimpzee) August 17, 2023

Even more fascinating is that each CHMPZ purchased increases the token’s value. The team initiated the burn process that will consume over 1 billion tokens even before the listing.

Additionally, the platform is embarking on a fresh mission to protect 1000 sq meters of an Australian Rainforest.

Thus, there’s a call to eco-minded investors who want to participate in the movement to save the planet. It starts with investing in the project and engaging with other investors across its social media platforms.

Also, investors can further support the mission by purchasing eco-friendly products, staking, and participating in other platform-specific activities.

The Chimpzee presale page and Twitter handle provide further details about the project.

Visit the Chimpzee presale.