Best Cryptos To Buy Now On Aug 28 - XDC Network, Conflux, Cronos

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Crypto traders are always on the lookout for the best cryptocurrencies to buy on any given day – we list some high potential coins in this post.

Bitcoin has dropped below 26k again, its the 4th time this month. The first was after the market turned bearish in mid-August.

When it comes to the cryptocurrency market, the most important influencer of market trends is Bitcoin. Once the price of BTC fluctuates, the entire market follows.

Global crypto market cap chart

Best crypto to buy now

Therefore, the crypto market is facing another moment of decision, and the battle between BTC bulls and bears is getting even more intense. The global crypto market capitalization declined by about 0.5% today, bringing the value down to $1.05 trillion. Although, the trading volume has also increased by about 38%, but its effect on the crypto market trend is negligible. Meanwhile, what are the best cryptos to buy now? Below is a list of some cryptocurrencies that investors can add to their watchlist. The performance of the coin has been quite remarkable, and they may be able to post unprecedented gains over the course of the week or quarter. With that said, let’s jump right in.

1. Curve DAO Token (CRV)

Curve trends have been relatively uneventful since the exploit that ravaged the platform on July 30. Bears have taken over the market, causing the asset price to drop from $0.7 to $0.44.

There are concerns regarding the future of the CRV token. Some pundits have predicted that this could lead to the collapse of the CRV token. However, that prediction may also be far from the truth.

Arguably, the CRV dip makes it one of the best cryptos to buy right now. The token is showing some signs of recovery, with its trading volume and price surging heavily over the last 24 hours.

According to data sourced from CoinMarketCap, the price of CRV has increased by almost 5% in the last 24 hours, and its trading volume has increased by almost 120%. The CRV value would have increased due to the increased activity across the platform.

The recent move towards opening a new market for the token was announced in a post on CRV’s official Twitter handle. This set a new limit for fresh and tBTC assets linked to Fraxfinance and TNetwork platforms.

with new markets @fraxfinance sfrxeth and @TheTNetwork TBTC is up!

Lending rates for the new sfrxeth market are slightly lower to encourage migration from the legacy market. pic.twitter.com/z7Rl1dhjQz

– Curve Finance (@CurveFinance) 26 August 2023

The move is intended to keep the lending rate for new SFRxEth as low as possible in order to open up new markets and encourage migration from obsolete markets.

Is CRV the Best Crypto to Buy Right Now? Although the price of the asset may be far from profitability, recent developments suggest that the token is undervalued. Buying the dip can provide an opportunity to profit from the retracement.

2. Cronos (CRO)

Cronos’ performance over the past 24 hours has been nothing short of remarkable. Amazingly, the token has registered an increase of over 451% in trading volume in the last 24 hours. There are speculations that the price action may keep CRO in the list of gainers for the rest of the week.

In addition to the increase in trading volume, the token has also registered an increase of over 3% year-to-date. This movement could be an opportunity to take advantage of the uptrend. But there is also a need to exercise extreme caution towards the asset as the bearish sentiment of the CRO is at a high level.

While the token may be one of the best cryptos to buy based on the signals from its short-term indicators, mainly the 10-day and 20-day moving averages, it also has some downsides. The current price and the 200-day EMA are showing a bullish signal as the price is trending lower.

Furthermore, the price action of the coin underperformed over 50% of the top-ranking cryptocurrencies. This may reduce investor confidence in the asset.

Overall, CROs may be best for short-term strategies, and it is equally best to do further research before deciding to add a token to an investment portfolio.

3. XDC Network (XDC)

XinFin’s XDC network wins the hearts of investors following its foray into asset tokenization. The platform took the initiative to tokenize real-world decentralized finance, which resulted in an increase in value, taking the asset from $0.03 to $0.08.

It achieved its Y2D high in mid-July due to increased interest in the crypto sector. XDC trended down after exploiting in July. Since then its value has been falling. However, there was a retracement today, with the XDC price rising by around 3%. Although the retracement may appear suddenly, it is not unexpected.

The network has recently been enjoying increased visibility as a result of the recurring events. Therefore, social impact is expected to increase its value as confidence in the asset is slowly reinvigorating.

Is XDC the Best Crypto to Buy New? With increasing visibility and recent price increases, XDC is showing potential that could set it up for short-term bullish momentum. Technically, XDC is currently trading above the 200-day EMA. Hence, there is a possibility of more bullish trend for the coin.

blown away @andrecastermanInsights on the future of trade finance @onXDCNetwork, $xdc It’s not just participating, it’s leading the campaign! #xdc #WeAreXDC pic.twitter.com/oiXttxDVnd

— harley.xdc (@gl0geta) 25 August 2023

In contrast, the circulating supply of XDC is less than 40% of its total supply. This may result in inflation, which may erode its value in the future. However, this does not negate the fact that XDC provides an opportunity for short term profit.

4. Conflux (CFX)

Conflux is on the rise again after several months of decline. With 220% trading volume pump and 3% price increase, will Conflux become the best crypto to buy now?

Conflux is one of the few cryptocurrencies with an exceptional performance this season. Even though the token underperformed investors’ expectations, especially after partnering with the Chinese telco, its output still outperformed 92% of the best performing assets.

Overall, CFX is still a leading crypto on the watch list of many investors. Its fundamentals are beautiful; Its price has increased by more than 138% in the last 52 weeks.

Additionally, CFX has had more than 15 green days over the last 30 days. At that pace, CFX could post positive performance by the end of the third quarter. Based on its current market capitalization, it also boasts of one of the highest liquidity.

Technically, the coin is currently rated as oversold as per the value of its RSI. Hence, the bulls might be able to sustain the asset in an upward move for the rest of the week.

However, there are also downsides to consider. At press time, the coin is trading below its 200-day EMA. As the coin accumulates more gains, it could generate downward pressure from bears trying to take profits. Plus, the maximum supply of CFX is uncapped. Hence, this has created a remarkably high inflation rating for the token.

Coincodex pegs the inflation rate at 51%. The rating makes the price of the asset susceptible to changes in the overall performance of the crypto market. Despite the downside, CFX still qualifies as one of the best cryptos to buy based on its short-term performance.

5. Sonic Coin (SONIK)

$634k after the launch of the SONIK presale, the project is really positioning itself as a super fast cryptocurrency.

The platform launched its presale a few weeks ago and is already on its way towards its $2.098 million goal.

never fade away $sonic #sonic #pre Sales pic.twitter.com/2ppnq1Iopj

– Sonic Coin (@Sonikcoin) 28 August 2023

The platform is still open, and investors are joining in large numbers. SONIK token is priced at $0.000014 at discount.

Dagen investors will benefit greatly from the early moves as the token aims to be the fastest to achieve a market cap of $100 million.

It is not only making the claims, but the team behind the project is also doing the necessary work to get it there. Furthermore, strong Toconomics encourages investors to commit to a long-term outlook.

Additional information about the project is available on the project’s sales page, which also shares more details about Tokenomics.

Visit Sonic Coin Presale

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