Best Crypto to Buy Now August 16 – Bone ShibaSwap, XDC Network, Kaspa

On Aug 16, 2023

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InsideBitcoins regularly provides a rundown of the best cryptocurrencies to buy now, considering their recent price performance.

The crypto value rages on as the price of many assets tumbled significantly in the last 24 hours. Currently, the global crypto market cap is down by nearly 1%, pushing the value to $1.15T. Despite the declining asset prices across the cryptocurrency market, what are the best cryptos to buy now?

Global Crypto Market Cap Chart

Best Crypto to Buy Now

The best time to identify promising assets is during down times. Also, it is equally the best time to bring new assets into an investment portfolio. Today’s article looks at the cryptocurrency market to identify investment opportunities that are not so obvious to many investors. Similarly, it explores opportunities in crypto presales that might record explosive gains upon listing.

1. Sei (SEI)

SEI has been able to attract massive attention as a result of its glamorous debut on various exchanges earlier in the week.

The platform is described as the first sector-specific layer one blockchain that provides the upper hand to DeFi exchanges. The platform has identified efficiency as the problem of most DEXes, and it has set out on a mission to tackle the issues.

Some of the DEX problems identified by SEI include downtime, which often leads to severe user drawbacks. It also identified scaling and speed problems across many DEXes. The SEI platform is initiating solutions to help resolve the problems. Its mission statement states that the project is out to speed up digital asset adoption worldwide.

The platform has announced that it has launched the mainnet beta phase. The announcement came after the completion of its alpha test with a whopping 400 million successful transactions. The price of that asset saw a surge of over 2000% in the early hours of today as the crypto market welcomed the news of the launch of its mainnet. Also, its trading volume still prints 1000% intraday gains.

Furthermore, the proposed airdrop has given SEI the much-needed visibility. The airdrop is slated for the date of its public mainnet launch. There’s been a notable surge in activities across the network since the announcement.

SEI might be up to a big start, given the numbers recorded upon arrival on the market. Also, the team behind the project and its fundamentals position it for a bright future. Also, the novelty of its solution, especially in the embattled Defi sector, suggests that SEI might become a force to reckon with.

Nonetheless, it might be too early to declare SEI the best crypto to buy now. Investors should closely monitor its performance in the coming weeks before moving. However, buying SEI early will help investors take advantage of the cheap price.

2. Bone ShibaSwap (BONE)

Is BONE the best crypto to buy now? Bone has carved out a space for itself in the crypto industry after it spent most of the month on the top gainers’ list. Not only was it on the list, it sat close to the top for many days. At press time, the price of BONE has printed an intraday surge of over 5%, and its trading volume has seen an over 150% surge.

The activities around the Shiba Inu ecosystem may have contributed to the surge in the asset’s value. The ecosystem recently welcomed a new addition, TREAT. Also, the listing of SHIB as collateral on Binance may have lifted the hopes of investors in the ecosystem. As the network braces up for the launch of the Shibarium, BONE might be one of the best cryptos to buy now.

However, some downsides might overshadow the prospect of Bone’s explosive increase in the future. One of the prime red flags is its low liquidity, which can be seen in its market cap. Furthermore, the token is currently trending toward the overbought range, which might increase its chance of price decline.

In the meantime, BONE presents an opportunity for long-term hedging. As the activities around the BoneSwap platform improve, so will the asset’s value.

3. XDC Network (XDC)

XDC has retained its hold on the asset tokenization wave blowing across the crypto landscape. Like the emergence of DeFi, the new trend in the industry is the tokenization of real-world assets. XDC, one of the most notable blockchains in the sector, has recorded an immense surge in price.

In the last 30 days, XDC recorded 19 green days, putting it ahead of most of the assets in the gainers list. Furthermore, its performance in the last 24 hours has equally been remarkable. In the early hours of today, the token recorded a price pump that added about 5% to its price.

Signals from its charts show that XDC might continue its upward trends in the coming week. The token is already in the oversold range and might swing into a retrace in the coming days.

Ultimately, XDC might be a viable cryptocurrency in the long run because asset tokenization is gradually gaining ground.

However, the downside to the XDC token is its liquidity. Compared to other assets, The XDC can be said to have medium liquidity. Also, in the short term, it might find resistance at the $0.6 range. Nonetheless, XDC is worth the consideration. Investors should keep a close eye on the token and the tokenization wave.

4. Kaspa (KAS)

Kaspa is back on an uptrend. The token fell into a price decline after spending weeks in a rally that gave KAS its all-time high. Despite the recent drop in its price, the token still outperforms the entire crypto market by a wide margin.

In the last 24 hours, Kas has seen gains of almost 5%. Perhaps, the gains mark the end of its week-long decline. Furthermore, its trading volume recorded a 10% boost in the early hours before retracting to $20m.

KAS gives off signals of potential strength. Generally, they depict KAS as one of the best cryptos to buy now. The biggest of its advantages is its current price which is way ahead of its moving averages. Additionally, KAS has recorded over 16 days of profit in the last 30 days, putting it ahead of over 97% of the top performers in the crypto market.

Despite its strong performances, some lapses might threaten its chance of becoming an explosive crypto asset. The primary drawback of KAS is its low liquidity, based on its current market cap. Furthermore, Kaspa is notorious for high volatility, which might make it a poor asset for a long-term strategy.

Hence it is best to perform further research before settling for the token. However, based on its performance in recent times, the cryptocurrency has displayed immense potential.

5. Chimpzee (CHMPZ)

Even though the CHMPZ token is yet to go live on exchanges, it’s already positioning itself as one of the best cryptocurrencies to buy now.

The project is out to raise a standard against continued deforestation and the threat to wildlife. While the mission is achievable, there’s a need to get more hands-on board.

Hence, the Chimpzee project still invites investors to participate as it seeks to recruit more Chimpzee army for its campaign.

So far, the presale effort has yielded over $1.1 million, and it’s already in stage 9. With only 48 hours to the end of the current stage, investors still have the chance to join the movement at $0.00085. When stage 9 closes, the price will increase to $0.00095.

🔥Be part of the #Chimpzee movement, burning 10B tokens to lower the supply under 50B!⚡
🔥 #Chimpzee is set to burn 1B tokens for each 200K milestone!
🚀Boosting the value of $CHMPZ #Tokens!
Seize the ongoing reward for extra free $CHMPZ tokens!🎁
💰 For $150 or more =… pic.twitter.com/4bUqTW9yon
— Official Chimpzee Project (@RealChimpzee) August 16, 2023

Interestingly, the platform has integrated a deflationary effect into the asset before it goes live on exchanges. According to a post on its Twitter handle, there’ll be a consistent token burn for every $200k presale milestone covered.

Invariably, the platform will burn billions of CHMPZ tokens before its launch. Thus, the asset’s price will jump dramatically before it goes live.

There are several other interesting facts about the project, and the details are available on its presale page.

Visit Chimpzee Presale.

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