Best cryptocurrencies to buy now on May 28: Notcoin, Celestia, Chiliz

Last updated: May 28, 2024 12:11 pm EDT | 4 minute read

Find out what experts say about the best cryptocurrencies to buy now, focusing on the long-term potential and recent market trends in the blockchain space. Image by cryptonews.com.

As cryptocurrency markets succumb to selling pressure on Tuesday as US markets reopen after the long Memorial Day holiday weekend amid jitters over the Mt Gox Bitcoin sell-off, traders are on the hunt for altcoin gems that could still deliver a short-term upside and be the best cryptocurrency to sell. buy now.

Bitcoin (BTC) it last traded around $68,000, down 2% on the day.

Mt Gox was the first major Bitcoin exchange but failed in 2014 following a major cyber attack.

The fallen exchange owes its creditors 142,000 BTC (worth over $9 billion)which must be paid by 31 October 2024.

Mt Gox portfolio movements tend to trigger short-term market distress as traders fear a sudden drop in supply.

Ignore Mt Gox FUD?

Some commentators, however, have downplayed the risk of these tokens coming to market.

User X’s Spoonman, who claims to be a creditor of Mt Gox, expects 80% of the credits to contain his BTC.

Analyst James Van Straten, meanwhile, noted that the market has absorbed 1 million BTC of selling pressure in five months.

Of these, 340,000 came from the GBTC ETF. Another 660,000 came from long-term holders. Mt Gox will only account for just over 10% of this figure and not all lenders will sell immediately.

With the price of Bitcoin falling on Mt Gox FUD, now might be a good time to buy on the dip.

Indeed, there are many reasons to be long the crypto sector right now. The political and regulatory landscape in the United States is becoming increasingly favorable to cryptocurrencies.

Candidate for the presidency of the United States Trump has come out in favor of cryptocurrencies. And the SEC just made a major U-turn in its anti-Ethereum stance, approved Ethereum ETFs last week.

US core PCE inflation data to be released on Friday will also likely show that the disinflationary trend continues.

Under $68,000, Bitcoin could easily be the best cryptocurrency to buy right now. The same can be said for Ethereum (ETH) under $3,900 or Solana (SOL) under $170.

Solana, for what it’s worth, it could be the next big cryptocurrency to secure an ETFwith growing voices.

But smaller, lesser-known altcoins may be a better bet for traders looking for quick profits.

Here are some names trading with strong momentum that could be the the best cryptocurrency to buy now.

The best cryptocurrencies to buy now

Notcoin (NOT)

The recently launched crypto token Notcoin (NOT), which powers a viral play-to-earn game based on Telegram, is going strong on Monday.

Up 29% in the last 24 hours, as per CoinMarketCap, NOT’s market capitalization is now over $900 million. It is now also the 94th largest cryptocurrency on the market.

Notcoin may not stay with a market capitalization below $1 billion for long.

It has the support of the TON Foundation (it is NOT issued on the Ton blockchain) and already has a huge user base.

In just the first week following the game’s launch in January, the game attracted over 5 million players.

5x or 10x earnings for NOT are very possible, which is why it could be the best cryptocurrency to buy now.

Celestia (TIA)

Celestia (TIA) is showing positive signs of breaking a bearish trend that has been underway since the beginning of February.

TIA increased 14% in 24 hours, according to CoinMarketCapand traded around $10.75.

The TIA appears to break convincingly north of its 21 and 50 DMA, signaling a potential trend change.

If the door opens for a quick 2x rebound to 2024 highs at $21, TIA could be the best cryptocurrency to buy now.

With TIA potentially set at 2x recent highs, it could be the best cryptocurrency to buy now. Source: TradingView

Chiliz (CHZ)

Chiliz (CHZ), the token that powers esports Socios, the entertainment-focused crypto platformit’s pumping on Tuesday too.

CHZ rose 8.5% in 24 hours and traded just below $0.15, its highest level since early April.

The token may soon retest its yearly highs at $0.16. And a break above these levels could give further impetus to the altcoin recovery.

CHZ is still down 83% from its all-time highs. If it manages to get back to these record levels, that would mean easy 5x gains for investors.

This is why CHZ is potentially the best cryptocurrency to buy today.

If CHZ manages to return 5x to all-time highs, it could be the best cryptocurrency to buy now. Source: TradingView

Alternative cryptocurrency investment strategy to consider: Pre-sales

Altcoins are a great way to make a quick crypto profit if traders can identify undervalued gems.

An often overlooked high-risk/reward strategy could also provide quick gains: investing in new cryptocurrency presales.

New crypto startups often raise funds by selling their native protocol token. These sales are almost always conducted at a steep discount to the project’s potential.

In fact, most pre-sales will sell their tokens at a market price of $10-30 million.

If a good project catches on, however, it can easily reach a market capitalization of hundreds of millions. This means presale investors can easily make 10x or more gains.

Obviously invest in upcoming ICOs carries many of the same risks as traditional start-up investing. The success of a project depends largely on the competence of management and execution.

The expert Cryptonews team has compiled a list of their favorite presales on the market.

22 Best Cryptocurrency Presales to Invest in Now

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

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