Best Crypto to Buy Now August 9 - Synthetix, Shiba Inu, Polygon

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InsideBitcoins regularly provides a rundown of the best cryptocurrencies to buy now, taking into account their recent price performance.

The crypto market performance is rather unusual today. Many tokens that have struggled to maintain gains in the past few weeks are suddenly printing wild profits.

The memecoins category, for example, has loads of assets on the CoinMarkerCap gainers’ list.

Similarly, BTC has found the momentum to recover its lost grounds. At press time, the price of bitcoins is only a few hundred dollars away from $30k.

Global Crypto Market Cap Chart

Best Crypto to Buy Now

There remains only one question: has the bull run started? While the excitement rages on across the crypto market, it’s best to stay inclined and be sure that the assets in your watch list are not dragged into a bull trap. In that light, we’ve identified some of the best cryptos to buy now. Each token featured below has a prospect of profitable performance in the future. More details are included below.

1. Synthetix (SNX)

Towards the end of last week, we saw Synthetix gradually departing from consolidation towards the start of an uptrend. As predicted, the token will maintain its gains as it progresses toward the $3 resistance.

Today’s charts show that the token had an intra-day increase of 4%, which brought its value to $ 2.62. With that, SNX is back on its trends toward the $3 mark. There is a high chance that the current momentum would push the asset’s price beyond $3. Invariably, it has become one of the best cryptos to buy now.

SNX data shows that the asset’s current price is significantly above the prices from its 200-day moving averages. Also, today’s gains make it the 15th time SNX has pushed its way into the uptrend in the past 30 days. The resilience of the token attests to the probability of a stronger push in the future.

Other facts that point towards a more bullish future for the SNX token include its growing market cap, which indicates liquidity. Ultimately, it will prevent holders from submitting to FUD. In addition, market sentiment towards SNX is gradually tending towards being bullish.

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— Synthetix ⚔️ (@synthetix_io) August 8, 2023

But, on the other hand, SNX still needs to fight its way through the $3 resistance. In that case, it might be able to bump its price across the chart as far up as $4 – $5. Nonetheless, it needs more than wishful thinking to get to that range. There might be a need for the team and community to make some groundbreaking moves to achieve that. Notwithstanding, SNX remains one of the best cryptos to buy now.

2. Shiba Inu (SHIB)

Shiba Inu is performing exceptionally well today. Arguably, it’s the best crypto to buy now in the memecoins category.

Unfortunately, there’s an ongoing debate that SHIB no longer be the memecoins that the crypto community is acquainted with. The project has morphed into a broader platform with a collection of features, making it difficult to precisely describe it as a memecoins.

Since its listing on Binance as collateral, SHIB has frequented the gainers’ list to the point of topping in the early hours of today. The token has seen an intraday price increase of over 5% at press time. Today’s pump brings its gains in the last seven days to about 18%. And at its current pace, it might still be able to push even further up before the weekend.

The most prominent factor that contributes most to the current pump in the piece of the asset is the anticipation of the Shebrium launch. The project is set to launch in the coming week, and it will likely disrupt the entire crypto community.

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— Shib (@Shibtoken) August 9, 2023

Not only that, but information also posted on the platform’s official Twitter handle reveals that the token can now be used as payment for some services via the Bitpay platform. With these developments, there are speculations that SHIB might make it into the $0.5 much sooner than anticipated.

3. Toncoin (TON)

Investors who have TON on other watch lists would discover a wild fluctuation in the asset price. The short bull run that followed the declaration of Pavel Durov was met with pessimism from the bears, which caused a decline in the asset price.

However, the outlook is relatively brighter again as the token is retracing into another uptrend. The token will retain recent gains much longer than previous ones.

At the time of putting this review together, TON has a price of $ 1.29, with an increase of about 5% over its worth in the last 24 hours. Besides its price pump, there’s also a significant increase in its trading volume, which has increased by about 5% in the same period.

Unfortunately, TON has not seen the worst of its decline, as it might witness further bear sentiment. The bearish moves would likely result from its persistent inability to push its price above its 200-day EMA. To achieve this, TON needs to increase its rally in the short run.

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— TON 💎 (@ton_blockchain) August 9, 2023

In that light, the TON Foundation has set up a conference for the community. Perhaps, the aim is to drive up engagement and increase social influence.

TON may not be the best coin to buy now based on the strength of its current performance. However, based on its fundamentals, community, and potential, it is one of the most discounted tokens to watch.

4. Polygon (MATIC)

MATIC bulls continue to exert efforts toward pushing the asset back into profitability. MATIC fell into a protracted decline after Crypto-SEC issues in mid-June. The incident saw over 33% wiped off the price of the token. MATIC has since been battling to recover its loss. However, is MATIC the best crypto to buy now?

Recently, there has been a change in the trends of MATIC. Its performance in the last 24 hours reveals that the asset has seen about a 4% increase in its price. The sudden pump in value is attributed to the jump in staking activities across the network.

Judging by the trend, it’s likely that MATIC bulls can force their way back to the $1 range before the end of the quarter. With its liquidity on the high side, MATIC still has the appeal it needs to attract investors.

However, some downsides might create doubts in the minds of potential investors. Firstly, its current price is much lower than its long-term moving averages.

It might create less incentive for long-term holders to continue holding onto their tokens. Also, the token is way below its Y2D highs, meaning it has a long way to go before it reaches profitability.

In the meantime, investors can watch the trend to see how it unfolds.

5. yPredict (YPRED)

With a few more milestones, investors can eventually enjoy the vast advantages of the yPredict plaform.

The yPredict presale entered its stage 7 some days ago, and it’s had a blast so far with hundreds of investors waiting to enjoy its dual benefits. The first benefit is the utility that comes with the yPredict platform.

Its blockchain-based solutions come with loads of tools for crypto traders and investors. Moreover, yPredict’s core value proposition is the AI-powered predictive model, which has undergone several phases of tests. In one such test, the model was deployed to solve backlink and SEO problems for website owners. Surprisingly, it brought such impressive results that the team decided to include the solution in its suite of tools.

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🔑 The Token Story:… pic.twitter.com/9CfnT5BpDT

— yPredict.ai (@yPredict_ai) August 9, 2023

Also, the YPRED token serves as the native currency of the yPredict platform. It allows investors to enjoy capital gains as the platform expands.

But all the benefits mentioned above are only available to YPRED investors. Currently, investors can acquire YPRED token on presale at $0.1.

The chance to get in at that price might not last long because the presale price inflates at intervals.

Once the presale funds cross the $4.58 million milestone, investors will have to pay 11.11% more to get on board. And, as soon as the presales close, the token goes live on exchanges. With that, the price might be multiple times more.

The yPredict sales page offers additional information, including details of its tokenomics.

Visit yPredict presale