Crypto News

Best Crypto to Buy Today 1 February – MEMAG, IMX, FGHT, LRC, CCHG

Disclaimer Please note that we are not authorised to provide any investment advice. The information on this page should be construed for information purposes only. We may earn commissions from the products mentioned on this site.
author imageTrent Rhode Last updated:

best crypto to buy today

As the Federal Reserve’s first FOMC meeting of the year comes to a close today, eyes are all on Chairman Jerome Powell for his 2 p.m. EST announcement that’s expected to confirm a 25 basis point interest rate hike. Meanwhile, the crypto market remains relatively calm, but history suggests that there may be increased volatility as the day progresses. Given this backdrop, what are some of the best cryptos to buy today?

“There is some belief among investors that the Fed won’t cut rates until a sustained decline in inflation toward its 2 percent target is established,” said Kavan Choksi, business management and wealth consultant at KC Consulting. “While contradictory to the Fed’s projections, this would mean we wouldn’t see rate cuts until the end of Q4 2023 or early Q1 2024. Although the job market has remained strong, I wouldn’t be surprised if we enter a recession in 2023. In the event that this happens, it’s unlikely the Fed will bail out the economy as it’d be viewed as counter to cooling inflation.”

In the lead up to the FOMC meeting, over the weekend, Bitcoin briefly touched a five-month high of $24,000 before facing rejection and dipping to a multi-day low of $22,400 the following day.

However, the bulls returned and helped the top crypto regain some ground, with Bitcoin currently trading around $23,000. Altcoins have also remained relatively stable as they wait for Bitcoin’s next move. The total crypto market cap sits at around $1 trillion as of writing.

Given the historical correlation between FOMC events and Bitcoin and other risk asset prices, investors and traders should brace themselves for potential market volatility in the hours and days to follow. Whether this could be the start of a new crypto storm or a continuation to the upside remains to be seen.

As the crypto market remains relatively calm in anticipation of the FOMC meeting outcome, investors may consider taking a position in coins with strong upside potential in the event of another bull run. This could include tokens that are in their presales stages, where attractive deals are often available. Five cryptocurrencies, MEMAG, IMX, FGHT, LRC, and CCHG, have been identified as some of the best cryptos to buy today based on their fundamental or technical analysis.

Meta Masters Guild Bringing Gamers Together in Web3

Meta Masters Guild (MMG), an upcoming “Web3 Gaming Guild”– is working on an innovative gaming network that seeks to bring together gamers of all genres across mobile platforms and create a trans-game economy based on a futuristic metaverse. Thanks to blockchain technology and decentralized communities, this will be a uniquely immersive experience with plenty of community activities centered around its interactive world.

The guild will present a comprehensive line-up of games with Non-Fungible Tokens (NFTs) and crypto rewards, where players are recognized for their loyalty and ability. MEMAG cryptocurrency is granted to them as well as influence over certain aspects in the game world. An open economy system permits gamers to trade Gems prizes gained from playing or NFT inventory for crypto awards that may be transformed into actual money or other NFT items inside MMG’s video games.

MMG will first be introducing Meta Kart Racers, an exhilarating racing game with both single-player and player vs. player options that can be played on any mobile device. In addition to this new title, MMG is currently developing multiple other Web3 games for their Meta Masters Guild platform–several of which have already been unveiled on their website.

Overwhelming interest from traders has resulted in MMG’s MEMAG token presale raising $2.36 million within mere weeks so far, showing strong investor support and making it one of the best cryptos to buy today.

Visit Meta Masters Guild Now

Immutable X (IMX)

The cryptocurrency market has seen a renewed surge in interest and activity in the past month, and IMX is no exception. IMX, also known as ImmutableX, has seen a 95.83% increase in its value over the course of January. This growth, which is higher than the overall market increase of 32.87%, has attracted many investors and traders looking for the next big crypto.

IMX, built on the Ethereum blockchain, operates as a decentralized exchange (DEX) and uses zero-knowledge proofs for secure and private trades. The platform offers users the ability to trade a wide range of assets, including cryptocurrencies, tokenized real-world assets, and non-fungible tokens (NFTs), all while maintaining full control over assets.

The recent launch of the Immutable Passport, an all-in-one multi-platform wallet and authentication solution has no doubt been a contributing factor to IMX’s growth. The platform’s layer-2 scaling solution, which uses zk-rollups, offers faster and more affordable transactions while maintaining the security of the Ethereum blockchain.

Technical analysis of IMX shows a bullish trend with yesterday’s candle closing with a 16.05% increase in IMX’s price. The price seems to have now reached resistance at the 200-day Exponential Moving Average of $0.75.

IMX’s price attempted to break this resistance earlier today as well as the immediate resistance range of $0.760 to $0.775 as it posted an intra-day high of $0.806. However, the price was immediately met with selling pressure, pushing it down to $0.719 as of writing, with a 4.39% daily loss.

If the FOMC numbers that are to be released later in the day affect the broader cryptocurrency market positively, there is potential for it to break through its immediate resistance and move toward its next resistance level of $0.870 to $0.888 for a potential 14% gain. Otherwise, the immediate support for the cryptocurrency is in the range of $0.631 to $0.645 in confluence with the 20-day EMA.

Fight Out Brings a New Spin to Move-to-Earn

Fight Out is poised to bring interesting innovations to the fitness app market with its innovative Web3 app and gym chain. By providing users customized workout routines, a vibrant community of support, and rewards for accomplishments, Fight Out looks to help members get fit while having fun.

By achieving their fitness goals through the M2E app, dedicated users will be awarded REPS tokens–encouraging motivation and providing a monetary incentive for healthy habits. In order to deliver this experience, Fight Out’s CoinSniper verified team is creating cutting edge gyms with interactive components like “mirrors” that show personal profiles and sensors offering real-time exercise tips.

The project has also enlisted well-known athletes like Amanda Ribas from UFC and former WBO middleweight champion Savannah Marshall as ambassadors.

With up to 50% bonuses on investments of over $50K, Fight Out’s presale event is your opportunity to get involved in this promising project from the ground floor. Already surpassing more than $3.7 million raised, FGHT tokens are among the best cryptos to buy today.

Visit Fight Out Now

Loopring (LRC)

Loopring price chart

Loopring has seen a downward trend in the last 24 hours with a price drop of 2.44%. Despite this, the cryptocurrency is still maintaining its bullish trend as the 20-day, 50-day, and 100-day EMA ($0.2938, $0.2648, and $0.2675 respectively) are below the current price, which indicates strong buying pressure. The 200-day EMA ($0.3371) resistance was broken yesterday when LRC went for a 13.01% percent move and as of writing, LRC’s price is holding just above this level.

The RSI (Relative Strength Index) is at 69.72, which indicates that the cryptocurrency is in overbought territory and a correction is not out of the question. The MACD indicator is showing a bullish trend, however, as the current day’s MACD histogram (0.0038) is higher than the previous day (0.0024), which indicates that buying pressure is increasing.

The volume of Loopring traded has increased in the last 24 hours to 21.115M, which is a positive sign. However, the volume is still lower than the volume moving average (38.205M). The previous day’s volume (65.802M) was much higher, which indicates high volatility in the market.

LRC’s price is at $0.3399 as of writing with a price movement of -2.44%. The immediate resistance for Loopring’s price is at $0.3766 to $0.3718, and the immediate potential support is at $0.2984 to $0.3083.

The bullish trend for Loopring has a high chance of continuing if market conditions allow, but a correction may occur in the short term due to the overbought RSI and high volatility in the market. Traders are advised to keep an eye on the immediate resistance and potential support levels.

C+Charge’s Eco Innovation Makes it One of Best Cryptos to Buy Today

C+Charge is looking to evolve the electric vehicle (EV) charging market with its groundbreaking peer-to-peer payment platform and rewards program, powered by blockchain technology. EV owners will have simple search tools to locate nearby reliable charging stations while monitoring their sessions securely while earning carbon credit crypto as a reward. The platform’s cutting edge approach provides an effortless process for locating and authenticating charging stations quickly.

Invest in the future-proof project of C+Charge and their sustainable cryptocurrency, CCHG before prices raise from $0.013 USDT per token to their final cost of $0.02350 in subsequent stages of the presale.

Visit C+Charge Now

Related:

Discover the Revolutionary Technology Changing the EV Charging Game Forever – Here’s How It Works
Crypto market makes a bold recovery as LBRY Credits leads rally with a 76% gain
Instagram Co-Founders Launch a News Reading App Called Artifact

C+Charge - Eco Friendly Crypto with Real World Utility

Our Rating

C+Charge Logo
  • Democratizing Carbon Credits
  • Incentivizing Wider Adoption of EVs
  • Real Life Use Case for Web3 Technology
  • First Platform Allowing EV Owners to Earn Carbon Credits On or Off Chain
C+Charge Logo
Visit Presale

  This article was written for Business 2 Community by Trent Rhode.
Learn how to publish your content on B2C

Join our Telegram channel to stay up to date on breaking news coverage

author image

Author: Trent Rhode

Trent has an extensive educational background in journalism and communications, along with two decades of experience writing and editing on a wide range of topics. Recently, however, he has dedicated much more attention to blockchain technology, DeFi (decentralized finance), and the Web3 ecosystem as he firmly believes decentralizing our economic…

View full profile ›

More by this author:

Popular Topics

 Discuss This Article

Add a Comment

Thanks for adding to the conversation!

Our comments are moderated. Your comment may not appear immediately.

Get weekly insider business guides & reviews for free

Join our FREE Telegram Group Now!