Best Crypto to Buy as Bitcoin Jumps 3% and Rallies Towards $100K
Bitcoin (BTC) has jumped 3% in the past day and investors are tossing around the $100,000 price target again.
When Bitcoin gets a boost like this, people start wondering which other coins and tokens could rally. If youre hunting for the best cryptos to buy as the market picks up, lets look at four exciting possibilities.
Why Does Bitcoins Rally Tend to Benefit Other Cryptos?
Bitcoin is back in the green this week. Seeing it pass $97,000 has excited investors, especially considering the coin is up 27% from just a month ago. Spot volumes have also surged 45% in the past day alone.
With the Crypto Fear & Greed Index now at 67 firmly in Greed territory it feels like the positive vibes are back in the crypto market. But how could this affect altcoins and meme coins?
Think of Bitcoin as the markets trendsetter. It generally boosts confidence across the entire market when its doing well. Investors see Bitcoin rising and believe they should get involved and that optimism often spills over to other coins and tokens.
We see a lot of data suggesting a strong connection, particularly with coins like Ethereum, which tends to shadow Bitcoins moves pretty closely their correlation is often in the 0.8 to 0.9 range. This means that when Bitcoin rallies, ETH tends to follow suit.
Other well-known altcoins like Litecoin and XRP have also historically followed Bitcoin, catching some of its positive momentum. Essentially, Bitcoins price action draws more eyes (and funds) to the crypto market, giving other promising coins a chance to shine.
So, with Bitcoin soaring again, could we see a similar trend play out here? It certainly looks that way. Chatter on social media platforms like X suggests traders are now hunting for altcoins that might take off next.
What Are the Best Cryptos to Buy as Bitcoin Heads Back Toward $100K?
What should you buy now that Bitcoin is heading towards $100,000? Lets explore four interesting coins that could be worth keeping an eye on.
1. Solaxy (SOLX)
Solaxy (SOLX) has become one of the most talked-about projects in Solanas ecosystem. Its a Layer-2 solution designed to help Solana deal with its scaling problems. All the DeFi action and meme coin trading can strain the network, and Solaxy steps in to help manage some of the load.
It processes transactions off-chain, aiming to keep things running smoothly and costs low, even when things get busy. This setup has helped Solaxys presale raise over $33.5 million, showing genuine belief in what the team is building.
More than just hype, Solaxys value is tied to Solanas own expansion. Plus, given that early investors can stake their SOLX tokens for a market-beating APY, theres a clear reason to hold long-term rather than sell.
Everything has been audited by Coinsult something that the experts at 99Bitcoins believe could help Solaxy build trust. So, if youre bullish on Solanas future, SOLX is one to watch as it aims to support that growth.
2. Alpaca Finance (ALPACA)
Another of the best cryptos to buy right now is Alpaca Finance (ALPACA). This DeFi protocol lives on the BNB Chain, and its primary selling point is leveraged yield farming.
Essentially, Alpaca lets users borrow to amplify their farming positions, which can mean bigger potential returns (with added risk). The ALPACA token is central to the platform, used for things like governance and staking rewards. ALPACA has seen some wild action lately and is up 65% in the past day alone.
This sort of volatility, especially when combined with the Alpaca 2.0 upgrades bringing in automated vaults, makes it an exciting DeFi play. As Bitcoin creates more market momentum, protocols like Alpaca often catch the eye of retail traders.
3. Polyhedra Network (ZKJ)
Polyhedra Network (ZKJ) is all about using zero-knowledge (ZK) proof technology, which makes Web3 faster, more scalable, and better at connecting different chains. Its main feature is zkBridge, which helps assets and data move securely between networks necessary for interoperability.
ZKJ is trending because ZK tech itself is a hot topic right now, and it is seen as crucial for the next generation of blockchain solutions. As Bitcoins rally brings more attention to infrastructure projects, Polyhedra, with its focus on solving cross-chain communication issues, is naturally drawing interest.
Weve seen ZKJs trading volume spike 590% in the past day, suggesting investor demand is ramping up. And given that the token has a market cap of just $620 million, theres enormous room for growth if Polyhedra sees even more adoption.
4. Movement (MOVE)
Movement (MOVE) is a Layer-1 blockchain built using the Move programming language the same as Metas Diem project. The big idea here is to offer a secure and efficient platform for smart contracts, which is a major draw for developers looking to avoid exploits.
As a newer project, MOVE is definitely in the higher-risk category. However, with Bitcoins price jump potentially prompting a search for the next big Layer-1 project, Movements clever setup could see it gain more traction.
Right now, the MOVE token is trading for just $0.15 down 89% from its all-time high. While that might seem worrying at first glance, for a newer project with an interesting tech proposition like the Move language, it might be an opportunity to get in at a much lower price.
Conclusion
So, as Bitcoin heads back towards $100,000, its clear that the market has lots of exciting possibilities beyond BTC itself. Weve touched on several projects above, from blockchain networks to DeFi protocols.
However, Solaxy stands out from the rest. Although its still in presale, this Layer-2 solution is already drawing huge attention, with early investors looking ahead to the upcoming DEX listing for SOLX.
Read more: https://www.tronweekly.com/best-crypto-to-buy-as-bitcoin-jumps-3-and-rallies-towards-100k/
Text source: TronWeekly
