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Selecting the best cryptocurrency involves evaluating market trends and project strengths. This guide highlights the top investment options available today.
Bitcoin recorded its highest daily profit of the year, surging nearly 15% on Thursday. This significant increase allowed the cryptocurrency to break through multiple resistance levels and reclaim the $60,000 mark, signaling a strong recovery from the August 5th crypto market crash.
Similarly, Ethereum surged alongside Bitcoin, posting a 17.5% daily gain as it rebounded from the market downturn. Several altcoins also joined in this upward movement, further boosting the market’s overall momentum. With the market in a positive trend, many participants are searching for the best cryptocurrencies to buy, hoping to secure substantial gains.
Best Crypto to Buy Now
Over the past eight months, Blockscout and the Filecoin ecosystem collaborated to develop and launch a new Filecoin Virtual Machine (FVM) explorer, which is now live. Meanwhile, Base Dawgz has gained attention due to its expanding community and unique multi-chain compatibility. Additionally, Mantle Network’s MNT token recently saw a significant 3.93% increase, placing it among the top-performing tokens on CoinMarketCap.
1. Bittensor (TAO)
Grayscale has recently introduced two new investment trusts, the Grayscale Bittensor Trust and the Grayscale Sui Trust. These trusts focus on emerging sectors within the blockchain space.
The Grayscale Bittensor Trust targets Bittensor’s native token, TAO. Bittensor is a decentralized AI project aiming to foster growth in this innovative field. The TAO token plays a key role in the Bittensor ecosystem by facilitating interactions and contributions within the network. This trust directly exposes investors to Bittensor’s efforts to develop decentralized AI technologies.
Also, the TAO token experienced a notable increase in value following an announcement from Bitmind, a decentralized AI platform. Bitmind revealed the launch of the BitMind Subnet, an integral part of the Bittensor ecosystem. This new component focuses on detecting and mitigating deepfakes.
It differentiates between authentic and synthetic content, offering transparent and publicly accessible results. Moreover, it utilizes an open-source subnet architecture to enhance its functionality.
This development has significantly boosted the TAO token, which has seen a 9.96% price increase to $308.78 at the time of writing. This recovery comes after losses experienced in the global crypto market. The crypto asset’s daily trading volume is $101 million, while its market cap is over $2 trillion.
This recent performance makes TAO one of the top gainers on CoinMarketCap, making it the best crypto to buy now. It is trading above the 200-day simple moving average and has seen 16 green days in the last 30 days, representing 53% of the period. The token is trading near its cycle high and shows high liquidity relative to its market cap.
2. Filecoin (FIL)
Blockscout and the Filecoin ecosystem have worked together over the past eight months to create and launch a new Filecoin Virtual Machine (FVM) explorer. This new tool is live now. It enhances FVM transaction data accessibility and transparency.
The explorer features faster indexing and comprehensive search capabilities, offering detailed views for transactions, receipts, addresses, and metadata. It is specifically designed to support developers, including advanced contract interactions, robust APIs, access to logs, and complete internal transaction views.
Additionally, Filecoin has rolled out the Waffle upgrade, which brings several key improvements. The upgrade also supports legacy Ethereum transactions, which facilitates the integration of more Ethereum tools and contracts. Moreover, the introduction of Non-Interactive Proof of Replication (NI-PoRep) simplifies processes for storage providers, making their tasks easier.
Filecoin Network News: We're excited to announce that the Filecoin Network Version 23 Waffle Upgrade by @lotus_web3 has been completed! ✅
This significant milestone makes the Filecoin network faster, smarter, and more developer-friendly for Dapp creators.https://t.co/dM8W62DUpI
— Filecoin (@Filecoin) August 6, 2024
These updates seek to enhance Filecoin’s efficiency, flexibility, and overall user experience. At press time, the price of Filecoin is $3.77, showing a 6.81% increase over the past 24 hours. Technical analysis reveals that the token’s 14-day Relative Strength Index (RSI) is 66.12, indicating a neutral position with potential for sideways trading. According to Coincodex, the price of Filecoin is predicted to reach $12.35 by September.
3. Base Dawgz (DAWGZ)
Base Dawgz has attracted attention in the crypto space due to its growing community. The platform features a unique multi-chain compatibility. Primarily based on the Base chain, Base Dawgz is designed to embody the adventurous spirit of base jumping, with the added advantage of operating across several major blockchains.
Congrats on passing 2.8 million $DAWGZ 🥳
We’re getting closer. And hopefully we can give you an update next week 🤝 pic.twitter.com/mRvjOMwD6F
— Base Dawgz (@BaseDawgz) August 3, 2024
The project’s token has shown strong performance, reaching a milestone of $2.8 million. Currently priced at $0.007414, the token is expected to increase in value soon, with another price adjustment scheduled in just over three days.
Furthermore, DAWGZ has also introduced an innovative Share-to-Earn system. This rewards meme creators and content contributors with DAWGZ tokens, encouraging active community participation. The project aims to build a loyal and engaged user base by incentivizing content creation and sharing.
The roadmap for Base Dawgz includes several key plans, such as expanding the community, listing the token on exchanges, and further development. These initiatives are designed to sustain user interest and drive ongoing engagement.
For early investors, Base Dawgz offers attractive returns. The project allocates 20% of the total token supply for hourly distributions over the course of a year, resulting in an annual percentage yield (APY) of over 921%. This approach is intended to attract and reward early supporters, making the project potentially appealing to those looking for high returns.
4. Aptos (APT)
Aptos is focused on enhancing the web3 user experience by developing products and applications. The team behind Aptos, known for their technical expertise, aims to improve network tools and usability to make decentralized technology more accessible to the general public.
Recently, Aptos partnered with Stacks, a blockchain project working on Bitcoin innovation. This collaboration is expected to drive Bitcoin development by combining resources and introducing new advancements. The Aptos Foundation’s involvement as a Signer in Stacks’ governance highlights the commitment to shaping Stacks’ future direction.
In terms of network activity, Aptos has shown signs of potential recovery. The platform recently experienced a 27% increase in transactions, reaching 14.6 million, with the number of unique users surpassing 20 million. This uptick is partly due to the integration of USDY, a move designed to attract institutional investors.
Merge AI and blockchain to revolutionize infrastructure. Create intelligent applications or decentralized networks and push the boundaries of innovation at #CodeCollision. 1st prize: $35K USD.
Register now: https://t.co/oWwYg3yxRr pic.twitter.com/9GZ60vBJRx
— Aptos (@Aptos) August 8, 2024
As a result, the platform’s native token, APT, has seen a price increase, currently trading at $5.72 with a 7.66% surge in a single day. It also benefits from high liquidity relative to its market cap, indicating strong market interest.
Aptos’ recent developments suggest that the project is gaining momentum, particularly with its focus on innovation and strategic partnerships. However, it remains important to monitor how these factors will impact the long-term performance of the APT token.
5. Mantle (MNT)
Mantle Network’s MNT token recently experienced a notable 3.93% increase, making it one of the top-performing tokens on CoinMarketCap. This uptick in value has drawn attention from investors and analysts. Mantle Network has been gaining traction in the blockchain sector due to its focus on scalability and decentralization.
Moreover, Mantle captures real-time user narratives using a large on-chain treasury, enhancing transaction efficiency and speed. This strategic focus has positioned Mantle as a significant player in the cryptocurrency market.
Mantle Network is an Ethereum Layer-2 — most people know that.
Some less known facts:
• First L2 with a modular architecture
• Largest treasury in the space
• Built native assets like $mETH and more
• Distributed millions worth of rewards to users pic.twitter.com/P6b0XE32aN— Mantle (@0xMantle) August 8, 2024
Furthermore, the recent rise in MNT’s price reflects growing confidence among major investors regarding the project’s long-term potential. The network’s unique consensus mechanism and strong infrastructure lay the groundwork for future development.
Over the past year, the MNT token has seen a 36% price increase, highlighting steady growth. It is currently trading near its cycle high, with high liquidity relative to its market capitalization. The 14-day Relative Strength Index (RSI) stands at 63.96, suggesting that the coin is neutral and may see stable trading in the short term.
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