The cryptocurrency market has been on a rollercoaster ride over the past year, but the sector has begun 2023 on a positive note, with many digital assets trading in the green zone. The rally thus far in 2023 has pushed a section of the market to believe that most assets have found a bottom and are forming a foundation to make further advances.
If you want to invest in the cryptocurrency market, now may be a good time to consider adding digital assets to your portfolio. Therefore, Finbold has looked at five of the best cryptocurrencies to buy this weekend based on different metrics, such as their growth potential and overall market performance over the last week.
The maiden cryptocurrency is leading the market resurgence, stabilizing the price above the crucial $20,000. At the moment, Bitcoin (BTC) bulls are attempting to help hold support above the $21,000 level, with the digital currency exhibiting general strengths despite the crypto space being plagued by more bankruptcy news alongside renewed talks on strict regulations.
Notably, Bitcoin’s upward movement elevated it to a four-month high on January 17, and BTC remains among the assets to buy for the weekend, with analysts noting that the asset is under the firm control of the bulls. By press time, Bitcoin was trading at $20,980 with daily gains of over 0.80%. On the weekly chart, BTC is up over 11%.
Shiba Inu (SHIB)
The meme cryptocurrency remains relatively affordable as the token attempts to build momentum toward regaining the highs of the 2021 bull run. At the moment, SHIB is capitalizing on the ongoing market rally, with investors increasingly showing interest in the token. In this line, the asset has occasionally emerged among the most trending cryptocurrencies as tracked by CoinMarketCap.
Furthermore, the token is harboring bullish sentiment, as highlighted by the sustained buying pressure. In this regard, a Finbold report indicated that as of January 18, Shiba Inu recorded an inflow of about $1.7 billion in capital within a week. The token is also building optimism from ongoing network development initiatives like the upcoming layer 2 blockchain dubbed Shibarium.
Currently, SHIB is trading at $0.0000114 with weekly gains of about 20%.
Although XRP has failed to find a bullish trigger from the ongoing Ripple and Securities Exchange Commission (SEC) case, the token capitalizes on the overall market sentiment. XRP might look forward to building on the news that Ripple continues to expand globally despite the United States regulatory scrutiny.
Currently, XRP is targeting breaching the $0.40 resistance level, making the token an ideal asset to purchase over the weekend, with the possibility of hitting the level backed by sustained gains in recent days. In particular, XRP is currently changing hands at $0.39 after rallying almost 5% in the last week.
Kava (KAVA), a layer-one blockchain, has been experiencing a bullish trendline in recent days, standing out among altcoins with a price breakout. Backed by network development, KAVA has also rallied after crypto exchange Coinbase announced the token’s listing on the platform. The Kava community will be hoping Coinbase’s listing sparks organic growth for the platform.
Part of the ongoing development focuses on establishing KAVA’s proof-of-stake (PoS) layer-one blockchain, aiming to revolutionize the decentralized finance (DeFi) space. On the weekly chart, KAVA has rallied over 30%, trading at $1.02 by press time.
The Aptos (APT) project, designed by the failed Meta cryptocurrency initiative, has seen investors bet on its long-term future based on funding from venture capitalists. With APT remaining relatively cheap, the token could rally in the future once it attains real-world use cases for its scalability solution.
However, the platform’s failure to roll out use cases has recently resulted in speculation among community members. Nevertheless, Aptos remains a coin worth considering for the long term as it has the potential to grow significantly. By press time, APT was valued at $8.11, with gains of almost 1% in the last 24 hours.
Overall, these five cryptocurrencies have been selected based on their potential for growth, market performance, and investor interest. However, it’s essential to keep in mind that investing in cryptocurrency is a high-risk and highly volatile endeavor.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.