Are you looking for promising cryptocurrency to buy? If you are, you’re just in time. The crypto market has seen a breath of fresh air pouring in to the space since the tail-end of July. This has seen several crypto assets rally, with many retesting their previous highs. In this guide, we cover the top ten cryptocurrencies to buy based on strong price momentum.
1. Bitcoin (BTC)
Bitcoin’s ascent began in 2017 when it surged just north of $20k. It has retained the top spot as the most valuable cryptocurrency for much of the industry’s twelve-year sojourn. BTC’s hard-cap limit of 21 million has seen many term it ‘digital gold,’ and many consider it a top cryptocurrency to buy. This belief was shown this year when BTC surged to an all-time high (ATH) of $65,000 in mid-April. This was followed by a major downtrend in May, with Bitcoin losing 50% of its value. However, Bitcoin is gradually finding its feet. After two months of trading below the $40k mark, the top digital asset made a comeback and currently trades at $45,327.33.
Capital at risk
2. Ethereum (ETH)
Ethereum is another top cryptocurrency to buy. Although it is tied to the hip to Bitcoin wild price swings, Ethereum has grown exponentially.
Like Bitcoin, has also experienced volatility dropping from its record value of $4,350 to trade at $1,810 during the bearish markets of June and July. Given its strong recovery, it has surged more than 50% to $3,322.21 since the beginning of August and currently trades at $3,055.39, dipping 4.39%.
ETH’s meteoric rise has been tied to the latest release of the London upgrades, which saw the Ethereum network become deflationary. The Ethereum network is transitioning to a proof-of-stake (PoS) protocol.
Capital at risk
3. Solana (SOL)
Called the ‘Ethereum killer,’ and so far, Solana is one of the best cryptocurrencies to buy. It has rallied above its ATH of $55.91 and currently goes for $79.93, showing an 18.60% increase in the last 24 hours. The Solana blockchain is faster – boasting 50,000 transactions per second (TPS) and cost-effective making it a viable alternative to the Ethereum network. Developers have flocked to the Solana network for its higher scalability.
According to data from Bitrue, the number of users checking the SOL pairs is up 800% compared to an average week. Trading volume and submitted orders have also surged, with both recordings 200-300% increases. Solana’s continued adoption makes it a top cryptocurrency to buy.
Capital at risk
4. Cardano (ADA)
Cardano aims to bring about a more environmentally sustainable blockchain platform. Sporting a PoS consensus mechanism, Cardano is still under development but has seen wide adoption. The network’s Alonzo upgrade is expected to enable developers to deploy smart contracts on the protocol.
This hard fork has driven up the price of ADA from just over $1 to $2.2530 on August 14. However, it has since cooled and trades at $2, down 3.58%.
Capital at risk
5. Binance Coin (BNB)
Although a discount token for the world’s largest crypto exchange by market volume, Binance, BNB has quickly established itself as a top cryptocurrency to buy this year. Trading below $40 at the beginning of the year, BNB surged to an astonishing $650 in the heat of the April boom. Even though it has dipped significantly in the last two months, BNB has continued to retain its price action above the $300 mark. Its phenomenal growth has been tied to Binance expanding its ecosystem of services. At press time, BNB is trading at $401.62, up 42.38% in the last month.
Capital at risk
6. Avalanche (AVAX)
Avalanche is a blockchain platform that functions as a global assets exchange. It enables developers to launch or trade any form of asset and control it in a decentralized manner using smart contracts. According to the development team, transactions on the network are validated in a fraction of a second.
Growing faith in the protocol has seen its AVAX token surge 142.30% in the last month. Currently trading at $24.31, it is up 3.26% in the previous 24 hours.
Capital at risk
7. Audius (AUDIO)
Audius blockchain is a decentralized music-sharing and streaming protocol that enables direct interactions between creators and listeners. It allows anyone to distribute, monetize, and stream audio content without any sanctions. Its AUDIO token has been one of the beneficiaries of the crypto market resurgence. The digital token has climbed 126.01% in the last seven days. Trading at $3.45, AUDIO is up 12.38% in the last 24 hours, making it one of the new cryptocurrencies to watch out for. Audius recently launched on popular video-sharing app Tik Tok to enable Audius users to share sounds easily.
Capital at risk
8. Terra (LUNA)
Terra is a stablecoin project that aims to reduce the volatility issues plaguing large-cap cryptocurrencies like Bitcoin. It offers stablecoins pegged to the US dollars, South Korean won, and several others. Its LUNA token has seen meteoric growth in the last month, up 372.98%. It is currently trading at $28.62 and is up 11.22% on the daily chart. LUNA may not boast of a large market cap, but it is a top cryptocurrency to buy for the long haul.
Capital at risk
9. Axie Infinity (AXS)
Axie Infinity is a blockchain-based gaming platform that allows players to earn when they play. Here, players can perform several activities, including collecting, breeding, raising, battling, and trading token-based characters called Axies. Axie Infinity has exploded in popularity and recently celebrated over $1 billion in sales in its non-fungible token (NFT) marketplace. AXS token has grown with the crypto protocol and has surged more than 300% in one month. This is a top cryptocurrency to buy as blockchain gaming gains momentum in the days ahead.
At press time, AXS is trading at $70.21 and is down 9.01%.
Capital at risk
10. Ripple (XRP)
A key member in the top 10 most valuable cryptocurrencies, Ripple is a blockchain-based cross-border payment facilitator. Ripple enables top financial institutions to send and receive currencies and any data rapidly and for a negligible amount.
XRP is used to facilitate these transactions. Despite its current legal faceoff with the US Securities and Exchange Commission (SEC), XRP has continued to perform remarkably well, making it one of the major cryptocurrency to buy. XRP has grown by 96.93% in the last month and 19.63% in the previous week. It rallied to $1.288 on August 15 with the broader crypto market. At press time, it is trading at $1.10, down by 6.31%.
Capital at risk
