On Thursday, the crypto market has experienced a significant downturn following signals of distress from Silvergate Capital, a prominent banker in the digital asset industry. Bitcoin’s price has slipped by 1.99% in the past 24 hours, and is currently at $23,269.
The existential threat facing Silvergate, a federally insured US bank, poses a risk to the financial system and has fueled further calls for SEC crypto regulations. With such turmoil in the markets, what are the best crypto to buy today?
Silvergate has delayed filing its annual report to the Securities and Exchange Commission and recently sold securities at distressed prices to prevent a bank run. As a result, it recorded a loss of $1 billion in Q4. As a precautionary measure, Coinbase Global has ceased to make any payments to and from Silvergate.
This crisis at Silvergate has the potential to impact the crypto market heavily given the bank’s role as a mediator for crucial transfers between exchanges and market makers. Many altcoins are the brunt of the slump, with Ethereum, Cardano, and Polygon dipping by 2.3%, 3.5%, and 3.8%, respectively.
Given the recent slump in the crypto market, it’s important to evaluate both the fundamentals and technicals of cryptocurrencies when considering investment options. Based on such analysis, FGHT, MKR, CCHG, CFX, and TARO appears to be some of the best crypto to buy today.
Fight Out Packs a Punch with Personalized NFT Avatars and Token Rewards
Upcoming Move-to-Earn project Fight Out is bringing an interesting spin to the fitness app market with cutting-edge Web3 and move-to-earn (M2E) technology. The fitness industry has struggled with high dropout rates and lack of motivation, with half of new gym members quitting within six months, according to IHRSA. The COVID-19 pandemic has only exacerbated these challenges.
Fight Out aims to address these issues by providing personalized NFT avatars that display fitness stats, tailored workout plans, and motivation through REPS token rewards that can be exchanged for merchandise, gym memberships, and app subscriptions.
The company plans to launch its first gym equipped with Web3 technology in Q4 2023, featuring digital mirrors showcasing user profiles and sensors monitoring workouts for personalized advice.
In addition, Fight Out is set to dominate the Web3 combat sports market with its fantasy betting platform. Users can create their own fantasy fight lineups and profit from match betting against peers or strangers.
Fight Out’s Metaverse platform will also enable fans to compete with each other and leading athletes, creating an all-encompassing fitness app solution.
Investors can benefit from up to 63% bonuses during the presale, with the FGHT token already raising over $5 million. With its multi-faceted approach, including M2E, media, masterclasses, and workout guides, Fight Out is positioned to become a top player in the crypto market, making it one of the best cryptos to buy today.
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MakerDAO (MKR)
MakerDAO, a leading DeFi protocol, has proposed allowing users to borrow its DAI stablecoin by using its MKR governance token as collateral. This proposal, which is part of Rune Christensen’s “Endgame” plan, has raised concerns among some members of the crypto community. Nonetheless, MakerDAO remains a top DeFi lending protocol with over $6 billion in total value locked. The proposal, if successful, could increase the liquidity and adoption of MKR. MakerDAO plans to introduce a new governance module for users to vote on the proposal.
Despite the bearish market trend affecting most cryptocurrencies, MakerDAO’s MKR governance token has seen a 19% increase in the past seven days, outperforming the global crypto market and other Ethereum-based cryptocurrencies. In the last month, MKR’s price is up over 40%.
The recent deployment of lower borrowing fees on March 1 by Maker DAO has spiked MKR trading volume by over 200%, attracting more interest in Maker’s borrowing offerings and increasing on-chain activity. As of writing, MKR is trading at $888, down 4.12% for the day, with a trading volume of $168.27 million, a 164.32% increase in the past 24 hours.
Despite the bearish trend, MKR is attempting to sustain its weekly gains and is emerging among the top weekly gainers in the current selloff. In the short-term, the crypto is expected to continue to retrace, with support possibly found in the $822 to $838 range and immediate resistance at $930.
From Watt to Wallet: C+Charge’s Innovative EV Solution Makes it One of Best Cryptos to Buy Today
C+Charge is a novel blockchain-based platform that offers an innovative solution to the charging and payment experience for electric vehicle (EV) owners. With the increasing demand for alternative energy solutions to match the rising adoption of EVs worldwide, the need for reliable charging infrastructure has become a pressing concern. C+Charge’s groundbreaking platform aims to address this issue and provide an optimal experience for EV owners.
C+Charge plans to collaborate with existing charging stations while building new ones, enabling customers to find nearby charging stations quickly and pay with the CCHG token. The blockchain technology behind CCHG ensures transparent and efficient payment processing. The platform’s app also offers real-time information on local charging options and vehicle diagnostics.
Furthermore, EV owners using C+Charge will receive Goodness Native Tokens (GNT) as carbon credits, representing verified voluntary carbon credits that can be traded on the app. These tokens enjoy backing from major venture capital firms such as a16z Crypto and Invesco.
Through its partnership with Flowcarbon, C+Charge allows EV owners to earn carbon credits in the form of GNT every time they charge. The platform offers a universal, easy-to-access payment system that doesn’t require expensive Point of Sale equipment. Drivers can simply use the CCHG token to pay, providing fleet managers with a way of monitoring and fixing issues with particular payment stations.
C+Charge’s app provides EV drivers with a reliable way of finding stations that are operational and available for use, along with tracking carbon credits, providing seamless payment for multiple platform integration options, and geolocated easy-access charging stations.
The carbon credits industry is expected to reach $2.4 trillion by 2027, and C+Charge’s platform is set to broaden access to EV drivers. As climate change continues to be a critical global issue, C+Charge’s platform aims to reduce the impact of carbon emissions and contribute to mitigating the impact of climate change.
C+Charge has divided its pre-sale into eight stages, each one lasting a week. So far, the project has raised over $2 million dollars and in less than 5 days, the price is set to increase–making now a great time to grab some tokens and solidifying CCHG as one of the best cryptos to buy today.
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Conflux (CFX)
Conflux Network’s CFX token surged by 22.43% during Wednesday’s candle close, boosted by DWF Labs’ $10 million funding round. The investment firm bought a significant number of CFX tokens from the Conflux Foundation, which will be unlocked over time to meet project growth demands. This funding will enable the Layer-1 blockchain network to expand its user base and advance its tech stack.
CFX is currently trading at $0.222, and the Fib 0.382 level at $0.2458 has been acting as resistance for the past few days. Yesterday’s move was not enough to break the resistance and today’s retracement could see the cryptocurrency retesting Fib 0.5 at $0.2083 with the 20-day EMA also trailing as potential support at $0.1956.
With the recent cryptocurrency market slump, traders are advised to wait for the price action to establish support before entering any trades.
Conflux’s partnerships with China Telecom and Little Red Book may also have contributed to the uptrend. The company is collaborating with China Telecom to create a blockchain-enabled SIM card, which could be the largest blockchain hardware product worldwide, accommodating numerous users and applications.
Enter the RobotEra: A New Era of Gaming
RobotEra, an upcoming metaverse crypto project, is set to raise the bar in the Web3 gaming space with its sandbox-like world-building metaverse. With the freedom to collaborate with other players to create anything they can imagine, RobotEra is paving the way for a new era of interactive, immersive gaming experiences.
The platform offers a shared world that connects players’ unique lands together, opening up endless possibilities for theme parks, concerts, museums, and more.
RobotEra’s backstory is set in the alpha galaxy on Taro, where players will become robots with human-like thoughts and emotions. With the last aboriginal survivor gone, the robots will bring forth a new civilization and a brighter future, restoring the planet to its former glory.
The metaverse consists of seven distinct factions, each with its own set of attributes and advantages. Players can customize their land, mine resources, and craft their own robot companions to help them explore and thrive in this new world. Robot companions have a unique appearance that can be customized through the Robot Editor and each Robot companion is an NFT, and they can be freely traded or leased.
RobotEra is currently holding a presale for its upcoming metaverse crypto project. Players who participate in the presale will have the opportunity to acquire Robot NFTs and land NFTs, which can be used in the game’s ecosystem. The presale offers players the chance to get in on the ground floor of this exciting new project and be among the first to explore the metaverse and create their own unique world within it.
Don’t miss out on the chance to invest in RobotEra’s TARO token presale–it is rapidly reaching its $1 million mark, but there is still time for you to get your tokens at a discount before it enters stage 2 and prices rise.
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