Best Crypto to Buy Today April 2 – Ethena, Litecoin, Bitget Token
On a day where blue-chip crypto markets are trading with a bearish bias, investors are scouring altcoin markets for strong performers that could be the best crypto to buy today.
Bitcoin (BTC) and Ether (ETH) are both down around 5% in 24 hours, as markets swoon amid macro headwinds.
Strong US manufacturing data on Monday has been interpreted by the market as likely to delay Fed rate cuts.
The US dollar and US bond yields have since vaulted higher, pressure US stocks and the crypto market.
Bitcoin was last trading near $66,000, having dipped as low as the $64,000s earlier in the day. The US government moved $2.1 billion of its confiscated Silk Road Bitcoin to Coinbase earlier, triggering jitters of a fire-sale.
Ether, meanwhile, was last trading just under $3,300.
Focus is set to return squarely to US spot Bitcoin ETF demand, while traders will continue to
While major cryptos are suffering, a few smaller altcoins are pumping hard.
Here are some of the best performers on Tuesday that could be the best crypto to buy today.
The token of Decentralized Finance (DeFi) protocol Ethena (ENA) launched on Tuesday and has been performing well.
According to Bitget, “Ethena is a synthetic dollar protocol developed on the Ethereum blockchain, offering a new breed of stablecoin called USDe.”
ENA was last trading around $0.82, up around 20% from its launch price of closer to $0.60.
Its market cap was last around $1.2 billion, with a fully diluted value of $12.3 billion.
The token generated a lot of excitement today as it just opened an airdrop. USDe holders will be able to claim their share of 5% of the ENA token supply.
The innovate protocol could see further upside as hype continues to build. That’s why it ranks as one of the best crypto to buy
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