Best Crypto to Buy Now September 4 - Stellar, Rocket Pool, Monero

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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.

The status of the cryptocurrency market remains calm, as seen in the CoinMarketCap overview. The global cryptocurrency trading volume increased by 15% in the last 24 hours. However, the global crypto market cap stays relatively the same, with a value of $1.04T.

Global Crypto Market Cap Chart

With the overall sideways trend, what are the best cryptos to buy now?

Best Crypto to Buy Now

The trends in the market today favor utility-based assets, with several DeFi projects topping the gainers list. Today’s review spotlights the biggest winners based on their current trends. Similarly, a special mention of Sonik Coin is included in the article. It lets the presale offer ends in a few hours, and here is an opportunity to buy its token at a discounted price.

1. Arbitrum (ARB)

As Layer 2 solutions move to the top spot regarding utility and infrastructure in the crypto industry, their underlying assets also print impressive price increases. Arbitrum, for example, posted gains of over 3% in the last 24 hours with a trading volume of about $109M.

Arbitrum is a scaling solution for the Ethereum blockchain, and it is one of the pioneers of the L2 solutions. The platform made an immense mark in the crypto industry in the early days of Layer 2.

However, competition from other projects like Optimism’s own share some initial traction it enjoyed. However, ARB remains one of the best cryptos to buy now.

The overall outlook of Arbitrum network performance has been upbeat recently, recording a surge in use cases, dev influx and optimization. One of the recent developments in the network is the introduction of the Arbitrum stylus Testnet. The initiative aims at providing devs the opportunity to create dApps using their EVMs, and this comes with a lower gas fee. It’s expected that activities and use cases will surge as the year glides to an end. Hence, the probability of an increased ARB price is imminent.

As the token price climbs towards the $1 mark, bears and bulls are poised for a price struggle. Since April of this year, ARB has often bounced off the $1 range. With the new move towards creating more demand for the platform, ARB holders may see a departure from price consolidation towards an uptrend as the year progresses. Furthermore, technical analysis of ARB reveals that the token is currently trading at an oversold price range. Hence, the current price reversal is expected.

2. Stellar (XLM)

Stellar ranks high on the crypto gainers list today after recording over 12% price increase in the last 24 hours. Additionally, its trading volume grew to about 179% in the last 24 hours, reestablishing the token as one of the best cryptos to buy now. It also maintains its status as one of the top-performing cryptocurrencies with a market cap of $ 3.44B.

A surge in activities across the Stellar network may have triggered the sudden surge in the asset price. Similarly, the improvement in the overall performance of the crypto sector may have also played a part in the price movements that were seen on its chart in the last 24 hours hours. Besides the on-chain activities, the platform also tries to gain visibility through events.

Furthermore, there’s a growth in the institutional interest in the Stellar platform. Being a player in the TradFi to Blockchain transition, Stellar is positioned to benefit from the influx of institutional investors into the crypto industry.

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— Stellar (@StellarOrg) September 1, 2023

Data from the technical analysis of XLM indicates that the token is gradually pulling away from its $0.87 support. The progressive trend strongly indicates that the bull fund has enough momentum to push the asset’s value toward the $0.15 – $$0.2 range before the end of Q3.

Investors with medium-term trading goals can capitalize on the XLM trends as their momentum builds. However, the downside to keep in mind is the high volatility and inflation. The current circulating supply of XLM is far below its maximum supply, which indicates the potential decline in value in the long run unless there’s a deflationary move to compensate for it.

3. Rocket Pool (RPL)

Rocket Pool currently tops the gainers’ list of top 100 cryptocurrencies. The token, which ranks #66 on the list, posted gains of over 15% earlier today, pushing the asset into immediate price reversal. The current price movement marks the second intense price action recorded by RPL in the last 30 days. It first experienced a price surge a few weeks back that pushed its price to a peak value of $27.

However, RPL quickly encountered a pullback that sent its price into the $25 range. Fair enough, RPL trading volume is also on the rise, with an increase of over 650% in the last 24 hours. Hence, about $16,355,869 worth of RPL moved across the market.

At its current pace, RPL may end the quarter as one of the best-performing cryptocurrencies. Data from its technical analysis reveals that the token currently outperforms over 70% of the top 100 cryptos. Additionally, there are chances that its price may still rally a bit further up as the token currently trades closer to its cycle high. Thus, it might record a higher price this week.

Conversely, there might be an indication that the increasing price of RPL may be threatened in the medium term by the pessimism from the bears. The current asset price falls below its 200-day moving average, showing potentially bearish sentiment. Ideally, the best approach for investors and traders considering RPL is to take a short-term strategy. It’ll help capitalize on the current trend without risking the impending bearish sentiment.

4. Monero (XMR)

Monero has had 17 green days in the last 30 days. Besides the impressive uptrend, XMR’s current price trend presents more impressive data with a 24-hour increase of about 2%. Despite the bearish condition in the crypto market, XMR has posted a price increase from$140 to $143. It shows the probability that the asset might be able to break out of its sideways trends before the end of this quarter.

Being the number 1 crypto privacy token, XMR is enjoying corporate organizations’ recent attention to the crypto sector. At its current pace, XMR will likely find the momentum to rally its price back to the uptrend. At press time, the token is undergoing price consolidation as many holders are unwilling to sell, and the force of bulls and bears keeps sending the price back and forth.

Overall, as the crypto sector moves in anticipation of a potential bull run, XMR may present an opportunity to hedge for future gains. However, investors may monitor the trend to see where it tilts—the current price of the asset trades below its long-term averages, as seen from its technical indicators.

Hence, the bears might have the upper hand as the asset gets closer to the $145 – $150 range. Also, XMR posts reduced liquidity recently, which may threaten its ability to attract investors in the long run. Besides these downsides, XMR is one of the best cryptos to buy now.

5. Sonik Coin (SONIK)

It’s less than 24 hours before the SONIK presale’s end, and it’s been quite an eventful journey so far.

The platform launched its presale a few days ago, targeting the $2 million milestone.

Over $1.3 million has been committed to the project within days of its presale launch, and hundreds of degen investors are waiting to hop on board.

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— SONIK COIN (@Sonikcoin) September 4, 2023

The attention to speed distinguishes this novel project from the existing degen initiative. For experienced degen investors, speed, a daring vision, a devoted community, and an unwavering team make up a successful crypto project.

With SONIK, the daring goal is to bring the project to a 100-million-dollar market cap within a short time from its launch. Hence, there’s a need to bring more adventurous investors on board.

The price of SONIK remains discounted for the next 23 hours, and investors can join the movement for as low as it for as low as $0.000014. However, the discount goes away when the asset hits the market. With attention to speed, SONIK may be the best penny crypto to buy now.

Visit Sonik Coin Presale