Top 5 Crypto Recommendations to Buy This Week

Lovata Andrean

Top 5 Crypto Recommendations to Buy This Week
Top 5 Crypto Recommendations to Buy This Week

Rancakmedia.com – The crypto market has surged in recent days and is up 3,86 percent, with a total value locked (TVL) of more than $2,8 trillion. This surge was fueled by investors looking for top cryptos to buy for long-term profits.

Here are recommendations for the top cryptos to buy this week if you're still not sure which one to choose.

The best cryptos to buy this week

1.Bitcoin (BTC)

Bitcoin remains to be crypto top buy for many investors, accounting for more than 45 percent of the worldwide crypto market average. BTC's main appeal lies in its limited availability to many people. There will only be 21 million Bitcoins ever produced, and this hard cap restriction has driven future supply constraints.

With more than 90 percent of all BTC now in circulation, retail and institutional investors consider the crypto standard to be digital gold.

Bitcoin has also been able to command substantial widespread support, becoming the first and only digital asset to be labeled as legal cash. Additionally, it is the most frequently traded digital asset in the crypto sector.

However, the Bitcoin network has long been criticized for its closed-door architecture, which has largely lost the ecosystem finance decentralized (DeFi) and non-fungible tokens (NFT) due to lack of support for smart contracts.

But Bitcoin is now aiming to adopt smart contracts, according to a study by Taproot.watch. The premier digital asset is scheduled to undergo a Taproot softfork update in the next few days, combining three different Bitcoin Enhancement Protocols (BIPs) to enable better smart contracts, greater privacy, and cheaper network transactions.

This network update has kept Bitcoin in the $65K region as it rose 6,59 percent on the day when it traded at $65.850. BTC rose 6,66 percent for the week as a whole. The trend has lifted the major digital asset above its 20-day moving average (MA) at $61.995,70.

2. Ethereum (ETH)

Ethereum remains the top recommended crypto to buy for a long time, considering its essential contribution in the DeFi and NFT space.

Although its value has not soared like other competitors, the Ethereum network has shown tremendous potential with the projected move from a proof-of-work (PoW) consensus algorithm to a proof-of-stake (PoS) mining procedure.

The enthusiasm behind the project has paid off for some investors, with the major cryptocurrency now up more than 1.000 percent in a very dramatic crypto market. Many ETH investors had been tired over the previous few days as the second most valuable digital asset tried to capitalize on the $5.000 level.

As a result of the Altaire update that was just launched, the price of Ethereum continues to rise. This brings Ethereum one step closer to realizing the goal of PoS. This breakthrough has led to the addition of additional functionality to the Beacon Chain network. So far, ETH is witnessing consistent growth and is up 3,38 percent on the daily chart.

Trading at $4.734, ETH is performing at its highest since debuting in 2015 and is trading above its 20-day moving average of $4.323,92 with a relative strength index (RSI) of 69,60.

3. Binance Coin (BNB)

Binance Coin is a discount token on the Binance platform, but has remained the top crypto to buy since the year began. Starting the year at just over $38, Binance Coin with the ticker symbol BNB has risen more than 2.000 percent and notably holds third place in the crypto rankings.

BNB's extraordinary form has been attributed to its ubiquitous use on the Binance, Binance Chain, and Binance Smart Chain (BSC) exchanges.

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Lovata Andrean

Hi, I'm Lovata, I'm not Ai but I am a content writer for SEO, Technology, Finance, Travel, Cooking Recipes and others. I hope this can be useful for all my friends. Thanks