Trent Rhode
As the crypto market continues to grapple with challenges, Bitcoin has seen a promising increase of over 50% from its lows after the FTX collapse. Despite this noteworthy surge, we must remember that it’s still two-thirds away from its all-time high. Investors should certainly be encouraged by such positive progress; however, we must not lose sight of the bigger picture. Amid the current macroeconomic backdrop, what are some of the best cryptos to buy today?
And the bigger picture is that the crypto market, like all risk asset markets, is heavily influenced by macroeconomic factors. The biggest factor on investors’ minds right now is the interest rate policy set by the Federal Reserve.
In 2022, as central banks worldwide adopted a hawkish stance, Bitcoin and other high-risk assets suffered. This latest rally, meanwhile, is a response to the cooling of inflation and the hope that suffocating monetary policy will eventually come to an end.
Wednesday's FOMC scenarios as per @ING_Economics
Dovish –> #Bitcoin trades $26k ++
Base case –> Bitcoin trades $22-25k
Hawkish –> Bitcoin trades <$22k
V. Hawkish –> Bitcoin trades <$20k pic.twitter.com/IqH0jJZJ7P— tedtalksmacro (@tedtalksmacro) January 31, 2023
While the current mood in the crypto market is more optimistic than it was just a couple of months ago, the reality is that the market is still in a state of pain and uncertainty. Industry bankruptcies are ongoing and the aftermath of Sam Bankman-Fried’s messy situation continues to cast a shadow of doubt over the market.
Although there may be some positive news that added to the market’s recent leg up, investors are focused mostly on the Federal Reserve’s interest rate policy. The outcome of the upcoming FOMC meeting will be critical in determining the future direction of the crypto market, making this an important time for investors to take prudent risk management measures.
Investors looking to take a position in the market should consider coins that have a lot of upside potential, including those that are in their presales where some deals can be found. In particular, five tokens–MEMAG, MATIC, FGHT, MINA, are some of the best cryptos to buy today based on either fundamental or technical analysis.
Meta Masters Guild: Bringing Gamers Together
Meta Masters Guild is introducing a promising gaming network they call a “Web3 Gaming Guild”, which aims to bring together players from various mobile games across different genres to create a trans-game economy based on a cutting-edge metaverse community. The platform will utilize blockchain technology and a decentralized community centered around a metaverse world to provide a unique and community-driven gaming experience.
The guild will offer a wide selection of high-quality games, integrated with Non-Fungible Tokens (NFTs) and crypto rewards–and will also recognize and reward players for their loyalty and skill by granting them MEMAG cryptocurrency and influence over certain elements within the game world. An open economy system will allow players to trade Gems rewards earned in-game or NFT-based inventory for crypto rewards that can be exchanged for real money or other NFT items within MMG’s games.
To kick off the gaming network, MMG is launching Meta Kart Racers, an adrenaline-fueled racing game that features player vs. player and single-player options, available on any mobile device. The MMG team is also working on several other Web3 games, some of which have already been unveiled, for the Meta Masters Guild ecosystem.
The MEMAG token presale has been a massive success, gaining widespread attention from traders and raising $2.1 million in just a few short weeks.
Polygon (MATIC)
MATIC has started the year on a positive note, with a 33% increase in the first two weeks of January. However, it then stalled as resistance was met at the $0.93 to $1.04 range. On January 26, Matic broke out of the range with a 13.31% surge and continued to rise by an additional 4.85% over the next three days. It then encountered resistance at the $1.17 to $1.19 range.
Yesterday, the broader cryptocurrency market retraced, causing Matic to lose 7.68% of its value. As of writing, Matic is trading at $1.10 with a 1.50% gain. With its moving averages in a bullish alignment, Matic is worth keeping eye on for the next couple of weeks.
The immediate support may be found at $1.02 to $1.03 in confluence with the 20-day EMA if the downtrend continues while the immediate resistance is at $1.16 to $1.18. If broken, the next potential target for the cryptocurrency is the psychological resistance of $1.30 for a 10% move to the upside.
Fight Out: Fitness & Tech Make for One of the Best Cryptos to Buy Today
Fight Out is set to make a splash in the fitness world with its cutting-edge Web3-based fitness app and gym chain. The platform will offer personalized workout programs and a strong sense of community among users, helping them get fit, have fun, and earn rewards all at once.
Dedicated users who reach their fitness goals through the M2E app will be rewarded with REPS tokens, promoting motivation and enabling users to earn money through healthy habits.
Secure your spot now and unlock exclusive perks with Fight Out’s membership program!
The earlier you get in, the cheaper it is! ⏰
Join our presale now and claim up to a 50% bonus!https://t.co/z34Nkx3ffi pic.twitter.com/wown9mcLYl
— Fight Out (@FightOut_) January 31, 2023
Fight Out’s team of elite professionals, thoroughly vetted by CoinSniper, is developing technologically advanced gyms that feature interactive components such as “mirrors” displaying user profiles and sensors for real-time exercise guidance, providing a highly engaging gym experience. The project has also enlisted well-known athletes like Amanda Ribas from UFC and former WBO middleweight champion Savannah Marshall as ambassadors.
Investing in Fight Out’s pre-sale event, which offers bonuses of up to 50% on investments over $50K, is an opportunity to get in on the ground floor of this promising project. With more than $3.65 million raised already, the presale is entering its next stage with prices set to increase, making now the perfect time to grab some FGHT tokens, one of the best cryptos to buy today.
Mina Protocol (MINA)
Yesterday was a roller coaster for the cryptocurrency MINA, which reached an intra-day high of 22.52% before succumbing to the broader market’s retracement and closing the day at breakeven. This was evidenced by a doji candle on the charts.
However, MINA has not let this slow it down and is currently up by 4.52% in the past 24 hours after retesting the $0.773 to $0.815 range, which previously acted as resistance but now appears to be serving as support.
The price of MINA is trading above its 200-day exponential moving average (EMA) with the 20-day, 50-day, and 100-day EMAs close behind in a bullish alignment. The next potential targets for the cryptocurrency are the $0.976 to $0.998 range and ultimately the psychological resistance of $1.
C+Charge Makes a Real Case for Blockchain Integration
C+Charge is looking to drive change in the electric vehicle (EV) charging market with its innovative peer-to-peer payment platform and rewards program powered by blockchain technology. Electric vehicle owners will be able to quickly and securely find and access charging stations, earning carbon credit crypto as a reward. The platform will provide EV owners with a reliable and effortless way to locate charging stations, monitor charging sessions, and authenticate the process.
California just introduced new driving licences based on blockchain technology⛓️
With the current hype on #crypto and #blockchain, the future of #cryptocurrency payment in transportation will be soon.
Join our #presale now https://t.co/WRucQG6fbW #cryptotrading #CCHG
— C+Charge (@C_Charge_Token) January 30, 2023
Now is an ideal time to purchase C+Charge’s sustainable cryptocurrency, CCHG, in their presale, currently priced at $0.013 USDT per token, before the price increases in three stages up until its final cost of $0.02350. Invest in C+Charge, one of the best cryptos to buy today and be a part of a future proof project in the EV charging market.
Related:
C+Charge - Eco Friendly Crypto with Real World Utility
- 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
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
Add B2C to your Google News Feed
Discuss This Article
Add a New Comment /Reply
Thanks for adding to the conversation!
Our comments are moderated. Your comment may not appear immediately.