The crypto market is going down with most assets reversing the profit they made over the last few days. Here are the top three cryptocurrencies to buy now to beat the market.
Cardano (ADA)
Cardano has had a dull year, with the ADA price plummeting 38.81%. It is one of the worst-performing high-cap cryptocurrencies of 2023.
But things are beginning to look up for ADA as the market enters the fourth quarter. The project has been winning the attention and confidence of investors, thanks to the multiple exciting events and milestones.
To begin with, the Cardano Summit 2023 event is scheduled to be held from November 2 to November 4, 2023. One of the key strengths of ADA – apart from its advanced blockchain that has set new standards in scalability, interoperability, and power – is its aggressive awareness campaigns.
Cardano (ADA) 1-year price action, source: CoinMarketCap
Blockchain lends value to their underlying cryptocurrencies through network usage and demand. As a result, creating awareness of the digital asset, along with education on blockchain and DeFi in the crypto and traditional communities is pivotal. The Cardano Summit 2023 will be a venue for that, with many ambassadors, advocates, and industry experts coming together.
One of the official sponsors is CoinDesk Studios, which joins as the media partner for the event. That is bound to strengthen the social momentum of the project in the coming weeks.
Moreover, a price correction is long due for the crypto coin.
An optimistic ADA price prediction for 2023 is $0.63, if the broader market moves ahead without any setbacks. But a more conservative Cardano price prediction is $0.45 by the end of the year. ADA is the best cryptocurrency to buy now in the high-cap category.
eTukTuk (TUK)
High-cap cryptocurrencies like BTC, ETH, and ADA are credible investments. But they’re also saturated, which makes them less attractive compared to emerging cryptocurrencies that have larger room for growth. Promising new crypto coins like eTukTuk are better alternatives if you’re looking to double or triple your investment in a short time.
That said, not all new cryptocurrencies are good investments. It is important that the token is backed by a robust project.
eTukTuk is a blockchain project that aims to improve the EV (electric vehicles) infrastructure in developing economies. It is targeting the public transportation sector by narrowing down its focus on helping the Tuk Tuk sector transition into a green system.
The eTukTuk infrastructure includes Tuk Tuk EVs called eTukTuks and a network of charging stations. The charging stations will be set up and managed by Territory Partners in strategic locations. They will be rewarded accordingly by the peer-to-peer economy which also includes eTukTuk drivers and Power Stakers.
eTukTuk is preparing to begin its journey in Sri Lanka. It has already partnered with industry leaders like Capital Maharaja and AsiaTokenFund. More private and govt partnerships will be unveiled in the coming days.
Polygon (MATIC)
The next best cryptocurrency to buy now is Polygon (MATIC), which also has a steep price correction underway. If the broader market stays stable, MATIC will take a U-turn to reclaim its losses throughout the rest of the year.
Investors are likely to find multiple entry points to MATIC in the coming weeks. But it is best to wait until the breakout point to make the way in.
Polygon (MATIC) 1-year price action, source: CoinMarketCap
While it is too early to tell whether Polygon will break past the much-awaited $1 mark, it is not a distant dream. The DeFi side of the blockchain is on a promising path although the TVL value has been dropping. Things could pick up as more utility-rich projects strengthen their activities in the ecosystem.
Factors like the release of Polygon zkEVM, Polygon ID Release 4, and the Uptrip Loyalty Program will work in favor of the cryptocurrency’s price action.
Wrapping Up – Which is the Best Cryptocurrency to Buy Now?
The answer depends on your preference.
If you’re looking for an established cryptocurrency with a high market cap, Cardano is the most obvious choice. The coin is showing signs of an uptrend which could reward investors who bought the dip, anywhere from 40% to 80%. But if the Cardano Summit fails to make a widespread impact, the token could climb down the charts.
On the other hand, if you’re looking for an emerging cryptocurrency that can go 500% to 800% this year, eTukTuk (TUK) is a good choice. The momentum around the utility-driven asset is growing. The govt and industry partnerships make it an excellent long-term investment as well. The TUK presale is now live on the official website and offers the cheapest entry into the project.
Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.
