The crypto market has experienced a downturn as of late, with Bitcoin and Ethereum prices dropping by 5.09% and 6.39% respectively on the previous candle close. The total crypto market capitalization has also decreased, currently standing at around $1 trillion, down 1.2% over the previous 24 hours.
While some market corrections were expected, the recent announcement by the SEC to ban staking-as-a-service has intensified the market decline. With these factors in mind, read on to learn about the best cryptos to buy today.
The SEC also recently charged the Kraken cryptocurrency exchange for failing to register its digital asset staking-as-a-service program. Kraken has since agreed to halt its crypto staking services and pay a $30 million fine.
In light of the move, SEC Chairman Gary Gensler has emphasized the need for crypto intermediaries to comply with proper securities laws when offering investment contracts in exchange for tokens.
Despite its decision, the SEC has come under fire from both members of the crypto community and some legislators. For example, United States House Majority Whip Tom Emmer expressed his disapproval, claiming that by preventing US citizens to access offshore staking services, the SEC is causing harm to the American people.
When it comes to investing in the volatile crypto market that is currently seeing such legal pressures, choosing the right projects can be a challenge. However, during this time of market correction and consolidation, it may be wise to focus on tokens that exhibit strong fundamentals and/or technical analysis.
Several cryptocurrencies that have the potential to deliver favorable returns include MEMAG, RPL, FGHT, LDO, and CCHG, some of the best cryptos to buy today.
Meta Masters Guild Launching Game Changing Web3 Game Network
With the launch of several new games and platforms, it’s becoming increasingly clear that the future of gaming is moving towards decentralization and gamer empowerment. Meta Masters Guild (MMG), a Web3 gaming guild and mobile game ecosystem backed by a metaverse, is quickly positioning itself as a key player in the growing Web3 gaming landscape.
MMG has generated significant interest in the lead up to its launch, with the presale of its MEMAG token quickly selling out stage after stage. The final stage of the presale is set to take place soon, and investors can expect to see the price of MEMAG tokens rise from $0.021 to $0.023, reflecting a 228.6% increase from the original presale stage.
The company’s partnership with leading game studio Gamearound is also fueling excitement, particularly with the announcement of the launch of Meta Kart Racers in Q3 2023.
One of the key features of MMG is the use of Non-Fungible Tokens (NFTs) to allow gamers to own parts of the games they play. The creation of a native NFT marketplace will give users the opportunity to trade in-game assets, much like the successful CS:GO skin market. MEMAG will serve as the means of settlement throughout the MMG ecosystem, and will also have governance and staking features.
The Web3 gaming market is predicted to grow to $104.5 billion by 2028, and MMG is looking to capture a slice of that pie. The company’s focus on high quality gaming over crypto hype sets it apart from other play-to-earn platforms and highlights its commitment to delivering a truly engaging and immersive gaming experience.
With a clear roadmap and high potential for success, MMG is poised to become a thriving gaming ecosystem in the rapidly expanding GameFi market. Investors who want to get in on the action can visit the MMG website and connect their Wallet Connect or MetaMask wallet to purchase MEMAG using either ETH or USDT.
Rocket Pool (RPL)
Rocket Pool has been making moves in the crypto market lately, defying the recent downward trend of many coins. Despite Bitcoin’s dip below the $22,000 mark and other top cryptocurrencies facing losses, Rocket Pool has continued to surge, posting an 18.82% increase on the previous candle close.
This impressive performance can be attributed to the strong backing from various technical indicators, such as the Relative Strength Index (RSI) and Moving Averages, which have both been on an upward trend. The RSI, in particular, is currently at 71.48, demonstrating that bulls are in control of Rocket Pool’s value.
Rocket Pool has had an outstanding start to the year, peaking at $44.28 on February 2 and trading sideways for a week. On Thursday, Rocket Pool pushed past this barrier with a rally of 18.82%.
At present, Rocket Pool is trading at $46.21, having suffered a 5.54% loss for the day. After reaching an intraday high of $56.60, the cryptocurrency was met with selling pressure. Analyzing the 4-hour charts, Rocket Pool’s price is currently trading above the 20-day EMA, which could potentially act as its support together with the 50-day EMA.
Should RPL’s price continue to fall, it’s possible it could retest the previous resistance area of $43.12 to $43.83 for support. The immediate resistance is the $50 psychological area.
Fight Out: A New Era in Fitness Technology
The fitness industry is on the cusp of a major tech overhaul, and Fight Out is at the forefront of this transformation. The platform combines cutting-edge technology in a move-to-earn (M2E) app and gym community, creating a personalized and engaging workout experience.
What sets Fight Out apart is its incentives-based strategy and comprehensive fitness tracking tools that track more than just steps taken. The M2E app rewards users with REPS tokens for reaching their fitness objectives at home and at the gym, combining financial motivation with a competitive edge.
Fight Out’s upcoming gyms are also a major advancement in the fitness world. Equipped with advanced app-connected technology, including workout monitoring and real-time exercise guidance, these facilities offer a highly individualized workout experience. This blending of technology and customization is a groundbreaking development in the fitness industry.
Fight Out also has the backing of renowned athletes, including UFC fighter Amanda Ribas and former WBO middleweight champion Savannah Marshall, who will host educational events and raise the profile of the project in the fitness community.
Investors also have the opportunity to benefit from Fight Out’s potential for growth. A bonus of up to 50% is available for investments over $50K, and FGHT tokens have already generated over $4 million in the presale, making them one of the best cryptos to buy today.
Lido DAO (LDO)
LDO has been turning heads in the crypto space due to its impressive performance despite rumors of a staking ban.
The total LDO deposited in the staking pool is increasing, providing more users with the opportunity to become Ethereum validators and earn a return. Lido Finance’s grip on DeFi Total Value (TVL) also secures its top spot in the market, with a current TVL of $8.02 billion according to DeFiLlama, as of writing.
LDO attempted to break out from the psychological resistance of $3 yesterday but the candle ultimately closed at $2.6. The cryptocurrency is currently trading at $2.32 with a loss of 12.81% for the day. The 20-day EMA is currently trailing the price which could also act as its potential dynamic support.
Plotting an extended Fibonacci level from its most recent swing reveals the price levels where LDO may react. LDO has retested both the Fib 0.786 and Fib 0.382 where it registered its respective intra-day high of $2.838 and an intra-day low of $2.303.
If LDO’s price manages to retake the current swing high of $3.028, the next potential target for LDO is the extended Fib 1.414 level at $3.487 in confluence with the psychological resistance of $3.50.
C+Charge Taking Charge of EV Market Innovation
Electric vehicle owners will soon experience a more effortless and informed charging process, thanks to C+Charge’s advanced blockchain technology platform. Along with cost visibility, drivers also have the chance to earn carbon credit crypto through a rewards program.
With Flowcarbon, C+Charge is making carbon credits more accessible, offering EV drivers the opportunity to receive Goodness Nature Tokens ($GNT) for using the app.
The platform also benefits property owners by providing energy consumption tracking during each charging session, ensuring non-EV drivers aren’t charged for the electricity used by EV charging, thus encouraging the installation of private chargers.
C+Charge is available now in its presale starting at $0.013 USDT and set to increase in three stages until reaching $0.02350, making it one of the best cryptos to buy today before its price increases.