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Joel Frank
Author
Joel Frank
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Why Trust Cryptonews
At the start of a big week of macro events that could really shake things up in crypto markets, investors are looking at top crypto performers today that might stand a good chance of delivering fast gains.
Major cryptos like Bitcoin (BTC) and Ethereum (ETH) are moving sideways in the $59,000 and $2,600 areas as US equities crawl higher.
The minutes of the Fed’s last meeting will be released on Wednesday.
But they will be overshadowed by more relevant macro events, namely, Thursday’s US PMI data and Friday’s speech from Fed Chair Jerome Powell at the Jackson Hole symposium.
These two events could substantially shape expectations as the US economic outlook and outlook for rate cuts. Some think Powell might indicate the Fed’s willingness to cut interest rates by 50bps next month.
The Democrat convention will also take place this week, where sitting US Vice President Kamala Harris will be confirmed as the Democrat nominee for President.
Crypto market participants, who now seem to mostly favor Republican nominee Donald Trump given his more overtly pro-crypto stance, will be watching this event anxiously.
Kamala saw a significant rise in the polls in recent weeks, leading to her becoming the betting favorite for November’s election.
A further bump could dampen crypto sentiment.
All that said, let’s take a look at some top crypto performers today that could be the best crypto to buy now.
Top Crypto Performers Today
Toncoin (TON)
Toncoin (TON) is one of the top crypto performers today, up over 7% in 24 hours per CoinMarketCapto $7.64.
The crypto, currently the 8th largest by market cap, is gaining in wake of news of a partnership between HashKey and popular Ton blockchain game Catizen to boost web3 adoption.
Toncoin’s rapid growth as users flock to its blockchain could be a continued driver of its price growth going forward.
XRP (XRP)
XRP (XRP) is another one of the top crypto performers today, having gained 6% on the session to rally back above $0.60.
XRP bulls are trying to wrestle control of the market in wake of last week’s positive Ripple vs SEC ruling.
The XRP creator was ordered to pay the SEC $125 million and refrain from further securities law violations.
That was seen by many in crypto as nothing more than a “slap on the wrist”. With it now agreed that XRP isn’t viewed as a security in the US, uncertainty surrounding the crypto is lessened.
But XRP continues to lack a compelling adoption story, suggesting it could underperform other crypto majors like BTC and ETH.
Aave (AAVE)
DeFi stalwart Aave (AAVE) is up nearly 9% in 24 hours, per CoinMarketCap, making it another top crypto gainer today.
The crypto hit its highest levels since April today, and could soon retest highs of the year in the $150s.
That could open the door to an eventual move back to all-time highs in the $660 area.
That could mark gains of as much as 6x for investors who get in now.
That is some very impressive upside potential. That said, some crypto traders are looking for even bigger gains.
Such traders often turn to meme coin markets. But amid extreme volatility, FOMO often kicks in, and traders end up making mistakes.
A better way to get involved in meme coin markets might be to check out meme coin presales.
These presales usually last a few weeks, giving traders plenty of time to do their own research.
Here are some of Cryptonews.com’s top meme coin presale picks right now.
16 Best New Meme Coins to Buy in August 2024
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
