Major cryptocurrencies are trading mixed as Bitcoin (BTC) continues its pullback after nearly hitting fresh record highs earlier in the week, with investors taking the opportunity to assess what might be the best crypto to buy right now.
BTC was last trading just below $69,000, extending its decline versus its recent highs in the $73,000s to more than 6%, as cautious investors take profit ahead of next week’s US presidential election.
While ex-US President Donald Trump remains the favorite, his odds have slipped a little in recent days, and heightened uncertainty about the outcome seems to have unnerved the Bitcoin markets.
Other major cryptos were mixed, with the likes of Ethereum (ETH), BNB (BNB) and Solana (SOL) were down 1-3% in the last 24 hours, while Cardano (ADA) and Toncoin (TON) were up 1.5-3%, per CoinMarketCap.
But things are still looking up for a potential rally in crypto markets once US election uncertainty clears up.
The latest US jobs data for October was soft, bolstering bets the Fed will continue to gradually lower interest rates, despite the fact that other US economic indicators (such as just released Q3 GDP figures) remain strong.
A new administration, be is Republican or Democrat, is likely to herald friendly policy towards the crypto industry.
Bitcoin could well power on towards $100,000 later this year, bringing the altcoin market with it.
So investors are busily looking for the best crypto to buy now. Here are some strong-performing altcoins on Friday that could be good candidates.
Best Crypto to Buy Now – Which Are They?
Cardano (ADA)
The 10th largest crypto by market cap Cardano (ADA) is one of the only cryptos in the green over the past 24 hours, per CoinMarketCap, having risen 3% to trade above $0.35.
For investors looking to get into a well-established coin that is potentially trading undervalued to the broader market, Cardano might be the best crypto to buy now.
ADA is down 40% this year versus 63% gains for Bitcoin. The return of a new altcoin season could thus see the cryptocurrency outperform is there is any “catch-up” effect.
That said, Cardano lacks a convincing adoption story (hence its underperformance) with lackluster growth in on-chain activity in recent years. That suggests a risk it continues to underperform in the long-run.
Mantra (OM)
Innovative, market-leading real-world asset (RWA) tokenization protocol Mantra (OM) is another one of the best performers today, up just over 2% in 24 hours per CoinMarketCap.
OM’s uptrend this year has been stunning and could well continue into 2025 – a Trump election victory could spur hopes for broad crypto regulations, which could spur the RWA narrative.
Last at $1.40, Mantra’s market cap was last around $1.2 billion, with plenty of upside potential still in store. That’s why OM might be the best crypto to buy now.
Raydium (RAY)
Elsewhere, leading Solana DEX Raydium (RAY) is another strong performer. Per TradingView, RAY was last trading around $3.30, close to the two-and-a-half-year highs it hit earlier this month.
As Solana’s ecosystem rapidly expands, RAY could be one of the main protocols to keep appreciating.
Seeing as it remains more than 80% down from its 2021 record highs, RAY has at least 5x potential, making it a candidate for best crypto to buy now.
But for Solana traders looking for even greater upside potential, new Solana meme coins might be the way to go.
Of course, hundreds of new meme coins pop up every day, the vast majority never going on to do anything.
That’s why analysts at cryptonews.com spend a lot of time parsing the market for high-potential opportunities. Here are some of their favorite Solana meme coins right now.
10 Best Solana Meme Coins to Buy in November 2024
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