As the rally in major cryptocurrencies like Bitcoin and Ether extends to Thursday, traders hunting for the best crypto to buy today continue to scour smaller-cap altcoin markets for opportunities.
BTC pumped towards $53,000 on Thursday on continued optimism surrounding strong spot ETF flows.
ETH also appears to be benefitting from ETF optimism, ahead of expected approval of spot Ether ETFs later this year.
ETH/USD rallied above $2,800 for the first time since May 2022 on Thursday.
Also aiding the rally in major cryptos is a recovery in US stocks back towards record highs.
Softer-than-expected US retail sales data for January released on Thursday eased concerns about the Fed delaying rate cuts.
This appears to have support risk appetite in the stock and crypto market.
While bullish momentum in the blue-chip crypto market looks set to remain strong, smaller altcoins of less well-known/established projects could potentially deliver even better gains to investors.
The smaller-cap cryptocurrencies of newer protocols/projects are much riskier than BTC and ETH.
But they could potentially offer a much better prospect of 10x gains.
Here are some of the best-performing altcoins on Thursday that could be the best crypto to buy today.
Up close to 32% in 24 hours as per CoinMarketCap, VeChain (VET) could be the best crypto to buy today.
VET just spiked to its highest levels since May 2022 and nearly hit $0.050 after breaking through resistance at $0.040.
VET is still more than 80% lower versus its early 2021 highs in the $0.27 area.
That means it could still have plenty of upside room left to run.
VeChain is a layer-1 blockchain that aims to streamline supply chain management.
Centralized cryptocurrency exchange Bitget’s native token Bitget Token
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