Here’s Why Crypto Prices Are Soaring – 5 Best Cryptos To Buy Right Now On The Rebound

Crypto markets recovered yesterday with top cryptos such as Bitcoin, Ethereum, and BNB falling in the past 24 hours.

The market recently hit its lowest level in three months, with bitcoin closing at $25,000 for the first time since March. However, interest from the world’s largest asset manager, BlackRock, has caused many cryptos to pump after a week of FUD.

On Thursday, BlackRock filed for a bitcoin ETF that would enable the bitcoin index to be traded on the NASDAQ stock exchange. While this is not the first bitcoin ETF proposed, it does include a “watchdog-share protocol,” which is supposed to prevent market manipulation by institutional investors.

In recent months, Blackrock and other top banks have signaled their bullishness on crypto by scooping up record amounts of MicroStrategy’s MSTR stock.

It was recently brought to light in a Twitter thread created by @BTC_Culture,

Coinciding with institutional interest, macroeconomics in the US is looking up. Despite the Fed saying they expect to raise rates twice more this year, interest rate hikes were put on hold at the recent FOMC meeting. Also, the latest Consumer Price Index (CPI) results for May came in at a lower than expected 4%.

Despite SEC FUD and threats of future interest rate hikes, it looks like investors are doing what they’re calling the “smart money” instead, which is driving prices up.

With that in mind, let’s consider the best cryptos to buy as the market starts to pump up.

wall street memes

Wall Street Memes is a new pre-sale meme coin launched by a brand with over a million social media followers and making huge profits recently despite the bear market.

Ahead of the Meme Coin presale, the Wall Street Memes team also launched the 2021 Wall St. Bulls NFT project, which sold out in 32 minutes. The group is also known for the Gamestop stock short squeeze event earlier that year, as Redditors took a stand against Wall Street traders.

So far, the Wall Street Memes pre-sale has raised an astonishing $8.1 million despite only launching on May 25, indicating the huge potential of the project. project has been Elon Musk talks on TwitterAnd many traders are supporting the project to make huge profit in future.

The current $WSM price is $0.0292, which will keep on increasing with each step. The Wall Street Memes pre-sale price is set to rise to $0.0337 in its final round before its Initial Exchange Offering (IEO).

bat

The quant has exploded recently, climbing 9.6% over the past day. QNT recouped most of its losses in one candle yesterday, despite plunging more than 20% following SEC lawsuits against Binance and Coinbase.

As we can see on the QNT chart below, the coin is currently trading at a key support level on the weekly time frame.

A continuation of the uptrend over the weekend could result in the candle getting stuck on the weekly close, indicating that strong upside momentum is imminent.

With this in mind, the next 48 hours are critical for QNT as more bullish price action could indicate a quick move towards $195.

The root cause of QNT’s recent price action is the announcement that it is part of the Bank of England’s CBDC development Project Rosalind team. Project Rosalind tests CBDC on Quant’s blockchain infrastructure.

adog

AiDoge is another cryptocurrency worth buying on the recent rally. Similarly to Wall Street memes, adog is a presale meme coin. The difference is that aeDog has ended its pre-sale a few weeks ago after raising a whopping $14.9m.

However, investors are currently ready with one last opportunity to buy $AI at a fixed price before it goes live on exchanges in two days. Speculators speculate that AIdog may follow in the footsteps of previous presales such as Tamdoge after its IEO and 10X.

While clearly a meme coin, the exciting thing about aDog is that it presents real value for holders. This is because AiDoge is an AI-powered platform that enables $AI holders to create memes using AI technology.

The process is simple, with users able to create memes based on recent crypto events with simple text-based prompts.

Currently, $AI is available for purchase from the AiDoge website for only $0.0000336. However, after its IEO, the price will be a product of supply and demand, which has the potential to explode.

injection protocol

Injection Protocol, an interoperable blockchain project, is up 10% over the past 24 hours, following a sustained selloff since its local high in April.

Currently, Injective Protocol is trading at a key long-term level, which it has touched multiple times since the last bull run.

Zooming in on the daily chart, we can see that the coin recently showed a bullish engulfing candle after rallying from the $5.569 level.

Over the next few weeks, broad market fundamentals will play a key role in whether INJ can continue its run.

INJ has proven to be one of the best coins to buy during crypto winter, up 493% since Jan 1, 2023.

The Injective Protocol is designed to accommodate financial applications and boasts several unique advantages compared to other networks, such as an MEV-resistant on-chain order book.

However, its recent price pump follows the network’s Zen NFT mint, which minted 147,000 NFTs in less than 24 hours.

gmx

The final crypto to buy this week is GMX, a decentralized perpetual exchange built on the Ethereum layer two blockchain, Arbitrum. It has also outperformed the broader market recently by climbing 7.89% in the last 24-hours.

Although GMX has fallen 44% since its local top in April, the recent bullish momentum is a sign that things are looking up for the crypto. The GMX chart below shows that the coin was moving towards its long-term support level of $38.

However, this would have resulted in several late shorts, providing enough liquidity for market makers to accumulate, potentially meaning the coin could bounce back without touching the $38 level.

The coin has shown significant upside momentum in the last three daily candles. This means that a trend continuation could lead to a “Three Soldiers” candle stick pattern today.

GMX’s unique design means users enjoy low fees and zero price impact, and it is the first exchange to feature non-custodial, leveraged trading on cryptocurrencies.

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