Best Crypto to Buy Today 19 December – FGHT, BNB, D2T, SHIB, TARO
Last week, the Federal Reserve made headlines when it announced a 50 basis point rate hike after four consecutive 75 bps hikes. This led the market to act like rate increases had reached their peak. But during the press conference that followed, Fed Chair Jerome Powell made it clear that rates would remain higher through 2023.
This news could have wide-reaching implications on markets, from stocks to Bitcoin (BTC), which has itself been on an erratic rollercoaster already this year. Notably, some expect BTC to bottom out sooner than stocks after the recent pivot due to historical precedence and the already hefty drop from its all time high.
Despite some early investor jitters over potential liquidity issues on the Binance exchange, support for a bullish run of Binance Coin (BNB) emerged on the weekend. On Saturday, the controversy surrounding the platform seemed to have been largely addressed, which calmed an increasingly restless crypto community. Bitcoin managed to avert slipping below the $16,000 level and remained contained within a tight range for the rest of the weekend.
Nevertheless, with an economic recession looming and further doubt sprouting regarding crypto regulatory matters after the FTX debacle, sentiment remains uncertain among investors. Consequently, calls for stricter crypto regulations, particularly on CEXes, are becoming more frequent as investors face growing wariness.
Although the future of Binance is murky and putting any of your money on the exchange might not be a great idea at the moment, that doesn’t mean there aren’t other options for smart crypto investments or that short-term trades on BNB are a bad idea (given proper risk management). In fact, bear markets and FUD-driven downward market cycles are excellent opportunities to invest in risk assets–as long you remember to be cautious and only invest in companies with solid financial backing and strong fundamentals.
The following are five of the best cryptos to buy today based on strong fundamentals and/or promising technical analysis:
Move-to-Earn (M2E) app and gym chain FightOut has clearly caught the eye of many investors, who have given more than $1 million to support the project during its private sale. This success continues during its public presale, with over $2 million raised thus far.
The main ways that FightOut differs from other M2E apps are as follows: first and foremost, it integrates any fitness activity, not just steps taken. Additionally, users don’t need to waste money on pricy NFTs to use the app; and with FightOut, they’re rewarded for healthy living – instead of just completing simple tasks like walking.
Other innovative aspects of FightOUt include using an avatar that is interactive and linked with users’ real-life progress, which encompasses features like strength, cardiovascular performance, and muscular endurance. With social motivation in mind, FightOut also provides a supportive community where people can compete based on real-life statistics from others. As users reach their fitness milestones, their Avatars will follow suit by leveling up.
FightOut’s first gym will open its doors in late 2023, providing patrons with state-of-the-art equipment and facilities, a health bar, studio space to rent out, and even a co-working area. As part of the FightOut experience, customers can also get involved with the ambassador program, where big names like pro boxers and other world-renowned athletes will run events such as masterclasses–giving customers extra value for their membership fee.
FightOut’s $FGHT token has been pulling in larger investors with presale rewards of up to 25%. With backing from big names such as LBank Labs, Cryptonews.com, Transak, and BlockMedia Labs for logistical and financial support, the project is expected to take off after launch.
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Binance Coin (BNB)
After breaking below the $281 support, BNB has been on a downfall most of last week due to the negative crypto community sentiment facing Binance. BNB’s price plummeted by more than 21% before bouncing to $220. It quickly recovered over the weekend and had a 15% move upward.
As of writing, BNB is trading at $247.2 and retesting the previous resistance turned possible support area of $243 to $247. If this area holds, a potential swing trade to the target of $262 is possible for a 6% move in confluence with a possible daily EMA 20 rejection.
Dash 2 Trade (D2T)
Dash 2 Trade’s innovative analytics and social trading platform have the potential to change crypto trading as we know it. With its advanced analysis and community features, Dash 2 Trade could be a profitable investment for those looking to take advantage of the recent FTX collapse and increased investor wariness.
To have full access to Dash 2 Trade’s platform and take advantage of features like trade signals, a listing alert system for upcoming coins, and social sentiment indicators, users need to subscribe with D2T tokens. Other features include a pre-sale token scoring system and strategy back-testing tool, which allow prospective traders to test out possible trading plans before putting them into action. A user-friendly auto-trading function that links into exchange APIs also makes it easy to put strategies and information into practice, while keeping track of the auto-trading tool’s success rate for tweaking strategies.
Having these many useful functions available only through the D2T token creates demand for the token–something that will likely drive the price of the token higher in the future.
Dash 2 Trade is close to finishing its token presale, and has already raised an impressive $10 million. Their development team is ahead of schedule as well, so the public will be able to access their presale dashboard shortly.
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Shiba Inu (SHIB)
Shiba Inu, one of the world’s top cryptocurrencies by market cap, has had quite a year in 2022. After being launched in August 2020 and gaining extensive exposure on Binance, the meme-inspired cryptocurrency quickly saw a massive surge in its price last October. Unfortunately, this was short-lived as 2022 saw a sharp decrease due to the Federal Reserve’s hawkish policy stance.
Shiba Inu (SHIB) just had quite a weekend, however, where at one point yesterday, the cryptocurrency was up by 11.18% before the price was eventually rejected at the daily EMA 20, leading to SHIB closing at a daily gain of 3.14%.
As of writing, SHIB has continued its momentum and is trading at $0.00000870, up by 1.75% for the day. The crypto has found temporary support between the area of $0.00000799 and $0.00000816, which also coincides with the psychological level of $0.00000800. The next potential resistance and target price is the daily EMA 20 at $$0.00000895, then the significant area of $0.00000936 to $0.00000947.
RobotEra gives players full control over robotic friends while they investigate and repair the planet of Taro, which was destroyed in an apocalyptic event. The game’s simple tools can be used by anyone without any programming skills, and allow for custom robots and assets to be built.
RobotEra is a play-to-earn game, meaning players receive in-game currency for quests, community service, and staking claims. Players can also increase earnings by selling advertisement space on billboards or structures inside the game world. If players are feeling entrepreneurial, they can try hosting their own events and charging other players an admission fee.
The RobotEra team is planning to include virtual and augmented reality features in the game by 2023. With various income-generating features, players will be able to earn money from their own created worlds within the game, setting the game up for success even in the current bear market.
So far, RobotEra has generated $582K in funding from presale launch and is quickly gaining traction as it approaches the $1 million mark.
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