Best Crypto to Buy Now August 28 - XDC Network, Conflux, Cronos

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Crypto traders are always searching for the best cryptocurrencies to buy on any given day – we list some high-potential coins in this post.

Bitcoin has fallen below 26k again, making it the 4th time this month. The first was after the market kicked into bear condition towards mid-August.

When it comes to the cryptocurrency market, the most significant influencer of market trends is Bitcoin. Once the price of BTC fluctuates, the whole market follows.

Global Crypto Market Cap Chart

Best Crypto to Buy Now

Hence, the cryptocurrency market faces another moment of decision, and the BTC bulls and bears battle is getting even more intense. The global crypto market cap drained by nearly 0.5% today, bringing the value to $1.05 trillion. However, trading volume has also increased by about 38%, but its effect on the crypto market trend is negligible. In the meantime, what are the best cryptos to buy now? Below is a list of some cryptocurrencies investors may add to their watchlist. The performance of the tokens has been quite remarkable, and they might be able to achieve groundbreaking gains in the week or the quarter. With that said, let’s jump right in.

1. Curve DAO Token (CRV)

Curve trends have been relatively uneventful since the exploit that ravaged the platform on the 30th of July. The bears have taken over its market, plunging the asset’s price from $0.7 to $0.44.

There have been concerns for the future of the CRV token. Some pundits have predicted that the exploit might be the fall of the CRV token. However, that prediction might as well be far from the truth.

Arguably, the CRV dip makes it one of the best cryptos to buy now. The token shows some signs of recovery, with an immense boost in its trading volume and price in the last 24 hours.

According to the data obtained from CoinMarketCap, CRV price is up by almost 5% in the last 24 hours, and its trading volume is up by about 120%. The increased activity across the platform must have triggered the rise in CRV value.

A post on the official Twitter handle of CRV announced a recent move towards opening up a new market for the token. It established a new frontier for fresh and tBTC assets associated with Fraxfinance and the TNetwork platforms.

New markets with @fraxfinance sfrxeth and @TheTNetwork tBTC are up!

Borrow rate for the new sfrxeth market is slightly low to encourage migration from the obsolete market. pic.twitter.com/z7Rl1dhjQz

— Curve Finance (@CurveFinance) August 26, 2023

The move is intended to keep the borrowing rate for the new sfrxeth as low as possible to open up new markets and encourage migration from the obsolete market.

Is CRV the best crypto to buy now? While the asset’s price might be far from profitability, recent development reveals that the token is undervalued. Buying the dip may present an opportunity to profit from the retrace.

2. Cronos (CRO)

Cronos’s performance has been nothing but remarkable in the last 24 hours. Surprisingly, the token has recorded a boost of over 451% in trading volume in the last 24 hours. There is speculation that the price action might keep CRO on the gainers’ list for the rest of the week.

Besides the trading volume pump, the token has also recorded over 3% as of today. The movement might be an opportunity to take advantage of the uptrend. But there’s also a need to approach the asset with immense caution as the bearish sentiment of CRO is on the high side.

While the token might be one of the best cryptos to buy based on the signals from its short-term indicators, primarily the 10-day and 20-day moving averages, it’s also had some downsides. There’s a bullish signal from its current price and 200-day moving average, as the price is trending below.

Furthermore, the price actions of the token underperform over 50% of the top-ranking cryptocurrencies. It might reduce investors’ confidence in the asset.

Overall, CRO might be best for short-term strategies, and it’s equally best to conduct further research before deciding to add the token to the investment portfolio.

3. XDC Network (XDC)

XinFin’s XDC Network won the hearts of investors after its foray into asset tokenization. The platform took the initiative to tokenize real-world decentralized finance, which resulted in a price boost, pushing the asset’s value from $0.03 to $0.08.

It attained its Y2D highs in mid-July due to rising interest in the crypto sector. The XDC trend took a downturn after the exploit in July. Its value has been declining since then. However, there has been a retrace today, with XDC price increasing by about 3%. While the retrace may appear sudden, it is not unexpected.

The network has been enjoying visibility lately as a result of recurring events. Hence, the social influence is expected to cause a rise in its value as the confidence in the asset is gradually reinvigorated.

Is XDC the best crypto to buy new? With the growing visibility and the recent price pump, XDC is showing a potential that might position it for a short-term bull run. Technically, XDC is currently trading above the 200-day moving average. Hence, the token has the potential for more bullish trends.

Blown away by @AndreCasterman's insights on the future of trade finance at @onXDCNetwork. $XDC isn't just participating, it's leading the charge! #XDC #WeAreXDC pic.twitter.com/oiXttxDVnd

— Harley Hermanson (@gl0geta) August 25, 2023

Conversely, XDC has a circulating supply that’s less than 40% of its total supply. It might result in inflation, which might drain its value in the future. Nonetheless, it doesn’t dismiss the fact that XDC offers the opportunity for short-term gains.

4. Conflux (CFX)

Conflux is on the rise again after many months of decline. With a 220% trading volume pump and a 3% price increase, will Conflux become the best crypto to buy now?

Conflux is one of the few cryptocurrencies with exceptional performance this season. Even though the token performed below investors’ expectations, especially after its partnership with a Chinese telecoms company, its output still exceeds 92% of the best-performing assets.

Overall, CFX is still a major crypto on many investors’ watchlists. Its fundamentals are pretty; its price has risen by over 138% in the last 52 weeks.

Additionally, CFX had over 15 green days in the last 30 days. At that pace, CFX might record a positive performance by the end of Q3. Based on its current market cap, it also boasts one of the highest liquidities.

Technically, the token is currently rated as oversold, according to the value of its RSI. Hence, the bulls might be able to keep the asset trending upward for the rest of the week.

However, there are also downsides to consider. At press time, the token’s price is below its 200-day EMA. As the token amasses more gains, it might yield downward pressure from the bears trying to make a profit. Also, the maximum supply of CFX is uncapped. Hence, it has created a remarkably high inflation rating for the token.

Coincodex rates the inflation rate at 51%. The rating makes the asset’s price susceptible to changes in the overall performance of the crypto market. Despite the downside, CFX still qualifies as one of the best cryptos to buy now based on its short-term performance.

5. Sonik Coin (SONIK)

$634k after the launch of the SONIK presale, the project is genuinely demonstrating itself as the supper fast cryptocurrency.

The platform launched its presale a few weeks ago and is already on its way to its $2.098 million goal.

Don't ever fade $SONIK 💨#SONIK #Presale pic.twitter.com/2ppnq1Iopj

— SONIK COIN (@Sonikcoin) August 28, 2023

The platform is still open, and investors are hopping on board in droves. The price of the SONIK token is $0.000014 at a discount.

Degen investors will benefit immensely from the early bird moves as the token has set the target to become the fastest to gross a $100 million market cap.

It’s not only making the claims, but the team behind the project is pitching in the work required to get it there. Also, the robust tokenomics incentivizes investors to commit to the vision for the long run.

Additional info about the project is available on the project’s sales page, and it also shares more details about the tokenomics.

Visit Sonik Coin Presale