Best Crypto to Buy Now August 20 - Synthetix, Neo, Optimism

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‘Best crypto to buy now‘ is one of the most searched cryptocurrency-related terms on Google, and InsideBitcoins lists some options daily.

Despite some improvement in the last 24 hours, the crypto market still grapples with pessimism. The fear/greed index rating, according to CoinMarketCap, is 34: the lowest the market has gone since the beginning of the year.

Furthermore, the global cryptocurrency market cap is recovering gradually, increasing about 1.7% in the last 24 hours.

Global Crypto Market Cap Chart

Best Crypto to Buy Now

Despite the shadows that cloud the crypto market, are there cryptocurrencies with promising potential in the coming weeks or months? Today’s review scans the market for undervalued. It provides insight into their performance and why they might outperform other cryptocurrencies in the market. It also includes upcoming cryptocurrencies that investors can add to their portfolios. Further details are provided below.

1. OKB (OKB)

Besides the challenge of low liquidity, OKB is one of the best cryptos to buy now. The token has demonstrated resilience in the face of the recent market downturn.

Even though the token’s price declined before the bearish market conditions, it managed to weather it without falling below its $42 support.

As of this morning, the token is back on an upward trend, with over 3% gains in the last 24 hours. Today’s token’s price is $43.8, only a few points to $44. The question remains whether the token has enough rallies to push the needed gains.

First, there’s a need to reiterate that OKB had climbed close to the $50 mark earlier in the month before encountering intense rejection.

At the time of writing, OKB has several upsides that help it reach far above the $44 market; we can see the value of the token climb as far up as the $50 third-quarter value. Moreover, recent mentions of OKX copy trading in the down market could attract social attention to the platform, especially among upcoming traders.

The current price of OKB remains attractive as it is much lower than its 200-day moving average. Also, the recent pump recorded earlier in the month brought the total gains in the year to 187%.

That’s much higher than the average crypto gains this year. Additionally, it’s the 19th green day for OKB in the last 30 days. Invariably, it is gradually becoming clear that OKB is on a positive path in the third quarter.

2. Synthetix (SNX)

Crypto liquidity Providers have recently been caught in the web of several skirmishes. Consequently, the value of their assets has fluctuated widely between highs and lows. Synthetix has spent most of the year trending relatively sideways.

SNX attempted to break above its resistance as the DeFi market grew in the last 52 weeks. However, fluctuations in the market have forced the asset’s value to succumb to the pressure from the bears.

Despite the uncertainty of the past week, SNX has been able to fight back with a 24-hour gain of over 3%, putting its price back on the upward trend. However, there’s been little changes in its trading volume, and other fundamentals remain the same.

SNX’s upsides, however, include the oversold RSI that presents an opportunity to take advantage of the imminent price change. In that light, investors and traders better take a short-term perspective. It helps prevent getting caught in the bearish sentiment that will trail the taken if it breaks above its resistance.

Yesterday's Synthetix Perps performance highlighted the resilience of both Synthetix and its integrators during high stress. The system flawlessly managed a surge in trades and volatile prices without skipping a beat.

Decentralized systems like this are the future.

— Synthetix ⚔️ (@synthetix_io) August 18, 2023

Its current price is way below its long-term moving averages, which signals the persistence of bearish sentiment in the future.

Otherwise, investors can also take a long-term, buy-hold approach. If SNX can keep its current rally and surpass the $2.8 rejection zone, it might find the support it needs to push further. Overall, it’s best to keep an eye on the token to see how it plays out in the long run.

3. Neo (NEO)

Neo is one of the lesser-known cryptocurrencies, but its influence in the Chinese crypto space is undeniable. It is an open-source platform that prioritizes its community participants towards creating a more connected world. Its priority is decentralizing the control of the financial sector and putting the power in the hands of the people.

The platform has performed below its potential as a result of the strict crypto regulation standards in the region. However, recently there’s been a noticeable improvement in the trend of its assets.

Observable activities around the network show that Neo has been establishing strategic partnerships that might open up new opportunities for its platform. A recent instance is its partnership with KIMPGA, an arbitrage platform. Others include its partnership with OKX.

Besides its expansion across the crypto industry, Neo presents other indications showing it is the best crypto to buy now. Chief among them is its high liquidity. Also, the token has risen in the last 30 days, with an overall 16 green days.

Similarly, its trend is towards the oversold region, meaning the token might maintain its uptrend.

On the downside, however, NEO might face resistance as it progresses toward $8. On a few occasions in the last 52 weeks, it has attempted to break above the range but has faced rejections.

Investors need to keep an eye on the token as it makes its way up. If it breaks above the $8 range, it can find the rally to climb as far as $15 and above.

4. Optimism (OP)

Is it the best time to buy OP? As the competition for the dominant platform in the Ethereum L2 landscape rages on, Optimism is becoming a force to reckon with. Last week, the transaction volume on the network surpassed the performance of Arbitrum, which is the major player in the space.

Today’s chart reveals that OP might be primed for an upturn after testing the $1.5 range twice in the last 24 hours. The token trades close to its $1.4 resistance zone but increased by about 3% in the last 24 hours.

The recent price action of the token shows that OP can amass the rally it needs to break above the resistance in the new week. Op maintains strong fundamentals with new moves towards opening up new opportunities.

Even though OP appears to be upbeat, downsides might stand in the way of its future performance. While OP has high liquidity, it also bears the effect of high volatility.

Also, the token has only 16% of its total supply in circulation. The release of more tokens into the market would force a decline in the asset price.

Despite the downsides, investors should keep a close eye on the token trend as it has the chance of reaching new highs this week.

5. Launchpadxyz (LPX)

Launchpadxyz continues its strides toward creating an all-encompassing platform that helps traders perform at their best.

The project aims at raising the next generation of investment alphas who would lead the pack in the web3 environment.

Users are offered unparalleled knowledge and unique advantages over the rest of the industry. Furthermore, the LaunchpadXYZ promises to help crypto newbies traders navigate the complex terrain of the web3 and the complexity of crypto economy.

Get ready to trade 24/7 with our automated trading bots 😎🚀

Let technology work for you at #LaunchpadXYZ

Join our community to find out more!
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— Launchpad.xyz (@launchpadlpx) August 20, 2023

Its approach includes the simplification of complex technical knowledge into simpler chunks.

Ultimately, the LPX token governs access to the Launchpadxyz platform and is currently available on presale. Investors and potential users can acquire the token for a discounted price of $0.0445.

Fortunately, the price is not inflationary. Consequently, investors can get it at the value for as long as the presale lasts. However, the presale will not last forever. It is best to get on board while the presale is still on to take advantage of the discount.

Besides the knowledge acquisition promised by the platform, the token also grants users access to various other services, including NFT and other web3 products.

Launchpadxyz also proposes the potential of providing play-to–earn games powered by the LPX token. It offers users a way to accumulate more LPX while still having fun. Launchpadxyz presale page provides further details.

Visit Launchpadxyz Presale.