Best Crypto to Buy Now May 23 – Pepe, Arbitrum, Bonk

Last updated: May 23, 2024 8:02 pm EDT | 2 minutes of reading

Following news that the SEC has vetted eight Ethereum ETFs, crypto markets are experiencing volatility and investors are looking for the best crypto to buy now to benefit from the growth of the Ethereum ecosystem.

Ethereum (ETH) did not rise further after the news and was below $3,800.

That said, it was still up about 25% for the week. And given that it will likely soon surpass $4,000, Ethereum It could easily be the best crypto to buy right now.

Ethereum ETF it could start to be negotiated as early as next week. And if demand is stronger than expected, as was the case with Bitcoin ETFs early this year, ETH could soon reach all-time highs.

While Ethereum’s prospects look good at the moment, smaller altcoins may be the best way to express the Ethereum ecosystem’s growth bets.

Let’s take a look at some contenders for the best crypto to buy today.

Best crypto to buy today

Pepê (PEPE)

The third largest meme coin Pepê (PEPE) has been booming all week, traders are betting it will benefit from the growth of the Ethereum ecosystem.

PEPE reached new highs of almost $0.000016 earlier today and was last up to 11% for $0.00001485.

The meme coin’s market cap is currently $6.26 billion, leaving plenty of room for further growth.

After all, Dogecoin and Shiba Inu have market caps of $14.4 billion and $23 billion, respectively.

Despite the recent rally, Pepe may still be the best crypto to buy right now.

Arbitration (ARB)

The Layer 2 Ethereum scaling Arbitrum blockchain could soon see a lot more liquidity following Ethereum ETF approvals.

Last 5% increase on ThursdayArbitrum (ARB) is trying to lay the groundwork for a recovery.

It last traded near $1.20. Importantly, this puts it above its 21 and 50 DMAs, suggesting that bullish momentum may be infiltrating the market.

Arbitrum could soon reach previous annual highs. This could mean quick 2x gains for the cryptocurrency, potentially making it the best cryptocurrency to buy today.

Arbitrum could soon reach previous yearly highs, potentially making it the best crypto to buy now. Source: TradingView Following the news that the SEC has vetted eight Ethereum ETFs, crypto markets are experiencing volatility and investors are looking for the best crypto to buy now to benefit from the growth of the Ethereum ecosystem.

Bonk (BONK)

Bonk (BONK) is not a direct beneficiary of the Ethereum ecosystem’s growth bets, as it is based on Solana, but it is still booming.

This is likely a result of a widespread increase in risk appetite, which tends to drive meme coins higher.

Common market capitalization of around US$2.36 billionBONK is cheap compared to some of its main meme coin competitors.

As mentioned, Pepe has a market cap of around $6.3 billion and Dogwifhat has a market cap of around $3 billion.

Bonk could be a value play now. This is why it might be the best crypto to buy right now.

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