Best Crypto to Buy Now June 20 - Injective, Wall Street Memes, Lido DAO

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The cryptocurrency market is seen to fluctuate between recovery and downward trends. Since our Best Crypot to buy now updates yesterday, the overall market sentiments remain neutral.

The global coin market cap rose by 0.86%, with a value of $1.07 trillion in the last 24 hours. The total crypto market volume also went up by 42.94%, bringing the value to $28.85 billion. DeFi trading volume makes up 6.10% of daily trading volume, with a value of $1.76 billion. The DeFi trading volume has continued to decrease daily in the past few days.

Global Coin Market Cap

Likewise, Stablecoinn makes up 93.75% of the crypto by market in the last 24 hours and has a value of $27.05 billion.

Cryptocurrency news remains neutral. IMF might be coming up with a new global cryptocurrency named central bank digital currencies (CDBCs). The development may put a twist on the global crypto narrative. Investors should watch the news closely to see where it leads. On the other hand, Bitcoin’s dominance continues to rise as it passes 48.44%, today with an increase of 0.30% in its price over the last 24 hours.

Best Crypto to Buy Now

In the meantime, the list below features some of the best cryptos to buy now. The list contains some cryptos that are performing well in the short term and could be a good bet for investors looking to hedge their gains. Similarly, we’ve included presale coins doing well at the moment. Buying into the presale can also shore up some gains in the future. Let’s jump in.

1. Optimism (OP)

OP has been hovering between $1.0 and $1.1 for about a week. A close look at its charts shows that it is going through consolidation and testing both resistance and support to decide which direction to take.

At the moment, the bulls are putting pressure on the $1.16 resistance level pushing, for a breakout. However, it’s undecided where the price is going. As of today, OP has embarked on an upward trend with a gain of 6% in 24 hours. In addition, its trading volume increased by 120% in the same period.

Investors should keep their ears to the ground because the OP stack continues to expand. An update on the BNB Twitter handle reported a new use case of the OP stacks on the BNB chain. The opBNB testnet went live in the early hours of June 19.

As blockchain technology continues to evolve, scalability remains a critical challenge.

But fear not! Enter opBNB, a game-changing Layer 2 scaling solution designed to overcome the limitations of Layer 1 (L1) networks.

Let’s discuss opBNB below 🧵https://t.co/irYn1OPtfQ

— BNB Chain (@BNBCHAIN) June 19, 2023

The project is expected to scale the BNB and help overcome the limitations of the BNB network. According to the thread shared on BNB’s Twitter handle, opBNB would optimize data accessibility through its caching layer.

It would also adjust the submission process and allow simultaneous operations. Through this, the project can push transaction speed to about 4000 per second and bring the cost as low as $0.005 per transaction.

With the new use case, the market may have seen renewed hope in OP. The price is gradually climbing in response to the trend, and it’s finding new support at $1.16. OP is the best crypto to buy now.

2. Injective (INJ)

With cryptocurrency investing and banking becoming the new narrative in the crypto sector, platforms like Injective Protocol are gaining attention. Injective is a layer-1 blockchain that enhances the operation of DeFi apps. It also improves the performance of derivative exchanges and prediction markets. It also works across lending protocols and the crypto finance sector.

The platform gained popularity because of its ability to provide core financial infrastructure including order book and cross-chain bridging capabilities. The injective ecosystem has grown to 100+ projects and boasts 150k community members.

Besides injective’s impressive features, the price of INJ shows some fascinating price movement. Injective price went up by 2% in the last 24 hours. What’s unique about the recent movement in the price of optimism is that in the past 7-days, the coin has been trading consistently mounted pressure on its resistance. While the bears try to gain the upper hand in the market, the bull keeps forcing the coin to go beyond the resistance level.

Looking at its chart, INJ 50-day, and 200-day EMA falls in the r$5.9 – $6.100 regions. It indicates a buy signal. Likewise, the MACD histogram equally remains neutral. The chart indicators show that INJ is the best crypto to buy now.

Nonetheless, the INJ chart pattern over the last 7 days shows a curved upwards, which means it could brace up for a downward trend in the coming days. Investors looking at INJ should think short term rather than long term.

3. Render Token (RNDR)

RNDR and other AI-backed crypto are slowly recovering after the regulatory chaos. RNDR price, for example, has jumped wildly between the highs of $2.1 and lows of $1.7 over the last 7-days. As of this morning, RNDR is trading at $2.01, 3% over its 24-hour price.

RNDR started its upward trend last week after the Render network announced the Request for Compute (RFC) initiative. The announcement came in response to Apple’s Vision Pro. Render Network has been on the heels of the Apple VR headset since the beginning of the year.

The coin found support at the $1.8 mark and continued its upward trend, which brought it to its current price. In the meantime, it’s still a battle between the bulls and bears as the price fluctuates between highs and lows.

Notwithstanding, RNDR is moving further away from its support. If the trend continues, it might start testing the $2.1 resistance in the coming days.

Investors should keep an eye on the RNDR token because it may be the best crypto to buy now. Currently, RNDR 100-day, 200-day SMA, and EMA fall in the price ranges indicating strong buy signals.

However, its price pattern over the last 7 days indicates the market oscillates widely between various price points, and it’s become indecisive. Likewise, we’re yet to see signs of price consolidations. Consequently, traders should only consider RNDR for a short time trade for now.

4. Lido DAO (LDO)

Is LDO the best crypto to buy now? The price of the Lido DAO token, LDO, rose by 3% in the last 24 hours. While other coins have since embarked on an upward trend following the regulatory crisis, lido still struggles to break through the $1.8 resistance. For more than 7-days now, LDO has been testing the resistance and trading between $1.7 and $1.79.

One of the reasons for the struggle LDO faced in the last 7 days comes from the trending drop in the trading volume across DeFi assets. Lido DAO provides staking solutions to Ethereum and other Blockchains.

Given its utility, the price depends on the demand for its token across DeFi platforms. While many analysts have predicted a $2 price for the LDO token this year, it’s surprising how widely it’s declined in the past months.

Nonetheless, crypto is staging a comeback. All technical indicators reveal a strong buy signal. LDO RSI is at 56, meaning it’s safe to buy. Likewise, its SMAs and EMAs indicate that LDO is the crypto to buy now.

Considering the chart, its 1-day chart pattern shows an inverted curve which shows that the coin might be bracing up for a coming upward trend. However, its difficult to effectively predict LDO’s long-term performance. The overall activity across the DeFi market is currently inconsistent. Investors should approach LDO with a short-term view.

5. Wall Street Memes (WSM)

Wall Street Memes continue its presale wins as it heads for the $9 million mark in its fundraising effort. The platform launched its presale offer towards the end of May, and in less than a month, it’s raised $8.7 million and amassed over 235k followers on Twitter.

Generally, the success of Wall Street Memes is not a surprising occurrence. Its growth stems from the support it got from the subreddit group, Wall Street Bet. Investors should watch this coin because it has what it takes to become the next memecoin king.

The coin leverages the sentiment embraced across its community. Ultimately, this strong bias of the coin may keep the price progressively on an upward trend when it finally arrives on the market.

Early last week, the platform announced that it’s applying for a CoinMarketCap listing. This development was posted on its official Twitter handle a few days ago.

With its current pace, WSM likely passes the $9 million mark before the end of the week. The objective is to keep raising the price with each milestone and the next milestone would bring the price of the coin to $0.0298. Now may be the best time to hop on board and be a part of the Wall Street Memes Movement.

Visit Wall Street Memes presale