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Best Crypto to Buy Now, May 24 – Core, Ondo, Uniswap

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Last updated: May 24, 2024 6:44 pm EDT | 3 minutes reading

Best crypto to buy now, May 24 – Core, Ondo, Uniswap / Source: Cryptonews

Cryptocurrency markets are ending the week with solid momentum following the SEC’s approval of spot Ethereum ETFs, and following Bitcoin’s (BTC) rally back to the $69,000 level, traders are looking for the best crypto to buy now for quick gains.

That cryptocurrency could be Ethereum (ETH). Ethereum is up more than 20% this week, but last trading in the $3,700 range remains below its March highs.

It also still remains well below its 2021 highs near $4,900. This is despite the arrival of the most bullish Ethereum narrative in years.

When Spot Ethereum ETFs goes live, this will open the door to a flood of new demand from institutional investors.

ETF Approval This also eliminates any uncertainty about whether Ether is a security or not.

And the market will also interpret ETF approvals as a stamp of approval for the asset from US regulators.

As new ETH buyers arrive, this will inject more liquidity into its ecosystem.

This should solidify Ethereum’s dominant position as the ideal blockchain for web3 project/developers.

It is very likely that Ethereum will reach new highs soon, assuming demand for spot Ethereum ETFs is good.

That said, Ethereum is a contender for the best cryptocurrency to buy right now.

As Bitcoin progresses above $100,000 in the coming quarters, Ethereum could be a good bet for 2x from here.

But some investors will be looking for greater advantages than this. For investors looking to book 5x to 10x upside, they will need to invest in cryptocurrencies at higher levels on the risk curve.

These will be smaller and less well-known currencies, with lower market values. Here are some strong performers altcoins on Friday this may appear.

Best crypto to buy now

Core (CORE)

After bouncing sharply from the $1.50 support zone, Core (CORE) is back at $1.97 and testing its 50DMA.

CORE increased by 22% in 24 hours, for CoinMarketCapmaking it the best performer in the top 100.

“Core is a relatively new web3 blockchain that aims to be inclusive, decentralized, secure and more efficient,” says Bybit.

If it can return to April highs, that could mean quick 2x gains in the coming weeks.

Core (CORE) could see quick 2x gains, positioning it as potentially the best crypto to buy now. Source: TradingViewjoel fr

This could make it the best crypto to buy right now.

Ondo Finance (ONDO)

Ondo Finance (ONDO) is hitting new highs as bets on the growth of the Ethereum ecosystem increase.

ONDO was around $1.1460, up 7% on the day.

Real-world asset (RWA) tokenization is a hot topic in crypto. And Ondo Finance certainly ranks as one of the best RWA coins to invest.

One of the platform’s biggest success stories is the Ondo Short-Term US Government Treasuries (OUSG) token.

The token yields 4.96% and has nearly $200 million in locked trade value, according to the project website.

Ondo Finance’s overall TVL recently hit a record above $450 million, according to DeFi Llama.

This is more than double compared to the beginning of the year.

It shouldn’t come as a big surprise that ONDO is up nearly 600% year-to-date, according to CoinMarketCap.

But as inflows into the Ethereum ecosystem accelerate, ONDO’s advantage could accelerate. ONDO could easily be the best crypto to buy right now.

Uniswap (UNI)

Main Decentralized Exchange (DEX) protocol Uniswap (UNI) is testing key resistance just above $10.

Last increase of 11% in the last 24 hours as per CoinMarketCapUniswap is another beneficiary of Ethereum ETFs.

Rather than being due to the growth bets of the Ethereum ecosystem, this likely has more to do with the SEC’s soft stance.

The SEC’s sudden approval of spot Ethereum ETFs came as a big surprise to the market.

The SEC had previously campaigned to label ETH as a security, as per reports.

Ethereum ETF approvals clear all doubts – ETH is not a security. This is a small reversal of SEC policy.

Uniswap bulls can also expect a policy reversal for them. O SEC hit Uniswap creator Uniswap Labs with pit warning earlier this year.

If Uniswap manages to break the $10 resistance, the door will be open for a quick retest of the $17 yearly highs.

As Uniswap prepares to break above $10 resistance, it could be the best cryptocurrency to buy now. Source: TradingView

The prospect of quick 70% gains means UNI could easily be the best crypto to buy right now.

Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You can lose all your capital.



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