Best Crypto to Buy Now January 31 – Flare, Ronin, Mina
While blue-chip cryptocurrency markets are pulling lower in wake of a hawkish Fed policy announcement, Flare (FLR), Monero (XMR) and Ronin (RON) are still in the green, making them amongst the best crypto to buy now.
Bitcoin (BTC) was last down around 1.6% under $43,000 after Fed Chair Powell pushed back against a March rate cut.
After the Fed left interest rates unchanged at 5.25-5.5% on Wednesday, Powell said a rate cut in March was unlikely.
That forced traders to pare bets on a rate cut this quarter, weighing on liquidity-sensitive assets like Bitcoin.
This may have triggered concerns the Fed might not lower interest rates as quickly as the economy needs.
That could explain why US stocks and US bond yields fell in unison on Wednesday.
Either way, crypto markets are mostly in the red on Wednesday.
But there are a few bright spots.
Let’s take a look at some of the best performers on Wednesday, which might be the best crypto to buy now.
Best Crypto to Buy Now
Flare (FLR)
Data-focused layer-1 blockchain Flare (FLR) was last still up over 3% on Wednesday, making it one of the best crypto to buy now.
FLR was last just under $0.024 and eyeing a break above key resistance.
An upside break could see FLR quickly pop towards $0.30 per token.
The prospect of potential quick gains makes FLR one of the best crypto to buy now.
Ronin (RON)
Game development-focused blockchain Ronin (RON)’s amazing uptrend from October lows has continued as January ends.
RON hit multi-year highs above $2.90 on Wednesday, up 600% since October’s lows around $0.40.
It was last up just over 2% in 24 hours, as per CoinMarketCap
Despite having come such a long way, its strong bullish momentum makes Ronin one of the best crypto to buy now.
Mina Protocol (MINA)
Zero-knowledge proof powered layer-1 blockchain Mina (MINA) could be one of the best crypto to buy now.
That’s because, after finding strong support at the key $0.94 support zone, MINA stands a good chance of rally back to its recent highs at $1.70, if it can break above its 21 and 50DMAs in the $1.12-1.15 area.
Mina was last up around 2% in the past 24 hours, as per CoinMarketCap.
Crypto Alternatives to Consider
All of the above coins offer potential investors a great chance to make 10x gains.
But, for those looking for a better probability of near-term gains, an alternative high-risk, high-reward investment strategy to consider is getting involved in crypto presales.
This is where investors buy the tokens of upstart crypto projects to help fund their development.
These tokens are nearly always sold cheaply, and there is a long history of presales delivering huge exponential gains to early investors.
Many of these projects have fantastic teams behind them and a great vision to deliver a revolutionary crypto application/platform.
If an investor can identify such projects, the risk/reward of their presale investment is very good.
The team at Cryptonews spends a lot of time combing through presale projects to help investors out.
Here is a list of 15 of what the project deems as the best crypto presales of 2023.
Disclosure: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. By using this website, you agree to our terms and conditions. We may utilize affiliate links within our content, and receive commission.
