Best Crypto to Buy Now 11 July – Mina Protocol, Compound, Solana
Major cryptocurrencies are trading with a modestly positive bias on Tuesday, but are still mostly within recent ranges ahead of Wednesday’s key US inflation data.
Bitcoin (BTC) was last trading up around 1% in the last 24 hours in the $30,600 area, while ether (ETH) was last around $1,870.
Positive reporting in the crypto press regarding BlackRock’s spot bitcoin exchange-traded fund (ETF) application could be acting as a mild tailwind for sentiment.
Reports allege that BlackRock’s application goes beyond the surveillance of spot trading to also include an agreement to share exchange user data with regulators, should they so request it.
This could further boost the likelihood that the US Securities and Exchange Commission (SEC) approves the Wall Street giant’s ETF application.
For crypto investors keen to diversify their holdings away from blue-chip names like bitcoin and ether, here are some of the best coins to consider buying on Tuesday.
Mina Protocol (MINA)
MINA, the native token that powers the zk-SNARKs-powered Mina Protocol blockchain, continues to trend to the downside within the confines of a bearish trend channel that has been in play since February.
MINA/USD was last in the $0.45s, reversing back under its 21 and 50-Day Moving Averages after probing multi-week highs in the $0.52 area earlier in the session.
Whilst MINA’s technical outlook remains bearish, if the cryptocurrency is able to break out of its bearish trendline, it could see substantial medium-term gains, hence why it could be a good crypto to buy.
DeeLance (DLANCE)
An innovative new web3 project called DeeLance is building a crypto and NFT-powered metaverse that, in an industry first, puts the jobs market on the blockchain.
The project, which is touted as one of 2023’s hottest crypto start-ups, is building a metaverse to unite freelancers and employers and promises to overhaul remote working forever, as well as the $761 billion-dollar recruitment sector.
Using the decentralization and transparency of the blockchain, DeeLance wants to remove overly powerful middlemen like Fiverr and Upwork that have been abusing freelance workers and employers alike for the last decade.
DeeLance is already generating huge hype in web3 circles and some observers think could upend the still very web2 platform-centric freelance/gig work economy.
The project has already raised a whopping near $1.5 million in just a few months since the launch of its $DLANCE token presale.
DeeLance also recently secured a huge $1.12 million strategic investment from top venture capital firm Bitgert Ventures, a sign that institutions are increasingly taking note of the project’s potential.
Investors are encouraged to move quickly to secure tokens, as when the presale hits $1.7 million, the price will rise from its current super-cheap $0.038 level.
Given that DLANCE will debut on major cryptocurrency exchanges later this year at $0.57, investors who get in now can be sat on gains of around 50%.
Adding to the excitement is a massive $500K $DLANCE token giveaway competition that DeeLance is conducting.
The top five wallets that buy the most $DLANCE between now and the end of presale stage four will be rewarded with a share of $500K worth of $DLANCE tokens.
$DLANCE can be bought using ETH, BNB and USDT (the ERC-20 and BEP-20 variants).
Compound (COMP)
Compound (COMP), the token that powers the Compound Finance decentralized finance (DeFi) lending/borrowing protocol, is pumping again on Tuesday.
COMP was last up close to 10% on the session above $65 per token as the bulls eye a retest of yearly highs above $70.
A break above this key resistance zone would open the door to a swift rally towards the next major resistance zone at $93, meaning near-term gains in the region of 40% are highly possible.
Wall Street Memes (WSM)
Wall Street Memes, one of the internet’s hottest retail investing communities, rose to prominence in the meme stock craze of 2021 and has recently been expanding its relevance in the cryptocurrency space with the presale of its new $WSM token.
The success of the $WSM presale, which has raised more than $14 million in just over one month, isn’t surprising given the size of Wall Street Memes’ community.
Not only are there 523k hyper-engaged community members on its wallstbets Instagram account, there are another 214k on Twitter and more than 100k across its two other Instagram channels, wallstgonewild and wallstbullsnft.
All told, Wall Street Memes has a 1 million-strong social community of degens, which analysts think all but guarantees that the $WSM token will be listed on tier 1 crypto exchanges like Binance.
With 30% of the token supply being held back for community rewards, it can reasonably be expected that airdrops to holders will be a big part of the ecosystem.
Indeed, the first $WSM airdrop is open now.
Analysts are already predicting big things for Wall Street Memes when it lists on exchanges and you can be a part of it.
Solana (SOL)
With Solana having recovered back to over 66% versus its post-SEC FUD lows around $13 per token to the $22 region, things are looking technically bullish for the cryptocurrency.
SOL, which powers the high-performance smart-contract-enabled Solana layer-1 blockchain, recently broke to the north of a long-term downtrend.
Bulls are now targeting a test of key long-term resistance levels around $26-27, $39 and $48.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
