September has seen an admixture of the bulls and bears intermittently swaying the market in their favour. Although the nascent financial space touched $2 trillion in the early days of the ninth month, it has since plummeted and now has $1.86 trillion on its books.
Despite this, this month has also revealed our crypto protagonists amid growing calls for regulating the nascent industry. In this roundup, we will explore the best and top-performing cryptocurrencies to buy both for immediate and future returns on investments (ROIs).
1. Bitcoin (BTC)
Starting off our best cryptocurrencies to buy list is none other than the crypto bellwether Bitcoin. The premier digital asset saw its value dip considerably in the three months the bears controlled the market with 50% shaved off the BTC price. However, this month has seen BTC time and time again retest the $50,000 mark.
BTC’s Weekly Performance
Bitcoin started this month on a positive note after closing August at $47,769.04. The premier digital asset surged to $52,633.54 on Sept. 7, the highest since the May crypto market crash. However, market volatility and growing regulatory concerns have seen BTC lose most of its gains.
In the closing week of the month, BTC has retested support at $40,693 before rallying once more. However, it has faced resistance at the $45,000 mark in the last few days trading on an average around the $42,000 region. The bulls are having a hard time pushing themselves back into the market and BTC has seen its value continue to fluctuate. At press time, the benchmark crypto is trading at $42,247, down 4.15% in the last 24 hours following the recent announcement from China’s Central Bank. Bitcoin’s seven-day loss stands at 10.96%.
Bitcoin in the News
Bitcoin’s volatility and regulatory updates have slowed down BTC bulls a bit. The crypto asset made a full debut in the Latin American nation El Salvador as a legal tender. Twitter has also officially added support for Bitcoin in partnership with Strike.
The same thing happened in September 2017. China said they were banning #Bitcoin and it dropped by over 30%. But #BTC made a full recovery in few weeks then hit new all time highs in December that year.
As the saying goes ‘history doesn’t repeat itself but it sure does rhyme’ pic.twitter.com/tg3PzPBOYp
— Oliver Isaacs (Not On Telegram. DM or Email Only) (@oliverzok) September 24, 2021
However, the recent crackdown by China has seen Bitcoin plunge by 5percent going into the weekend. The People’s Bank of China has imposed a ban on all crypto-related transitions with immediate effect.
2. Ethereum (ETH)
The second most valuable cryptocurrency by market cap, Ethereum is one of the best cryptocurrencies to buy. This is primarily due to its pivotal position in the booming decentralized finance (DeFi) and non-fungible token (NFT) sub-sectors. Ethereum’s ETH is the de facto currency in most platforms that support the minting and subsequent sales of digital collectibles and payment for DeFi products. Also, the Ethereum network is the market leader after BTC and has seen remarkable adoption alongside BTC.
ETH’s Weekly Performance
ETH has surged phenomenally alongside the leading digital asset BTC, climaxing at a record price of $4,350 in the April crypto boom. However, ETH has seen its value trickle down as the market downtrend hit hard in the three months the bears were in charge.
This month, ETH has made admirable efforts to hit its previous high only managing to cross the $3,700 mark a few times.
This week has not been any different with ETH dipping to $3,207 on Sept. 20 coming off the back of a strong weekend where it surged to $3,421.97. ETH has continued to slide down ever since hitting a 28-day low of $2,730.41 on Sept. 21. However, it recovered somewhat and reclaimed the $3,100 mark a few days later. At press time, ETH is nearing the previous low and trades at $2,881.26, down 7.90% in the last 24 hours. Weekly losses stand at 16.38%.
ETH in the News
Despite the severe market correction, ETH is still poised for a major uptrend in the coming days. Newly launched layer-two scaling solution Arbitrum One saw over $2 billion in transaction volume processed in one week.
This was prompted by the release of a cat-themed NFT called NYAN which has since become an internet sensation. Alongside this, multi-chain solution Polygon recently integrated with Ernst & Young’s flagship blockchain services EY OpsChain and EY Blockchain Analyzer. The partnership is focused on offering the firm’s enterprise client higher transaction throughput with predictable fees and settlement times.
3. Axie Infinity (AXS)
Developed by Sky Mavis in 2018, Axie Infinity has become a mainstay in the crypto scene riding through the crypto market even when the bears were in full swing. Axie Infinity is a blockchain-based play-to-earn game that enables players to collect, breed, and trade tokenized characters called Axies. Each Axie is an NFT and comes with unique attributes and strengths. The popularity of the gaming platform has propelled the AXS price through the roof with more gamers joining the community.
Axie Infinity has gone on to build strong followership with over $200,000 unique users on the platform and over $2.2 billion in sales volume recorded. It is one of the best cryptocurrencies to buy for long-term growth potentials.
AXS’ Weekly Performance
Price-wise, AXS is faring better than large-cryptos BTC and ETH. At press time, it is up 1.59% as the broader crypto market reels on the news of China’s crypto ban. 1 AXS is changing hands at $68.64 and the digital asset is trading slightly above the 20-day moving average (MA) support price of $66.50.
On the weekly chart, AXS has struggled like every other crypto asset and has mostly been in the red zone. It began the week at $62.90 after shedding the majority of its gains from the August rallies. Since then, AXS has hit a low of $50.55 and a weekly high of $70 in the early hours of today. Meanwhile, a major market correction could see AXS continue in the consolidation phase. However, the platform’s growing popularity and thriving community will not see it remain down for long.
AXS in the News
With NFTs now becoming a mainstream crypto sub-sector, AXS is still set for a major uptrend. According to data from DappRadar, Axie Infinity has over $2 billion. Also, popular crypto exchange Phemex recently added support for the NFT token.
4. Cardano (ADA)
Cardano sits in the third position on the most valuable crypto assets by market cap and is one of the best cryptocurrencies to buy for long term returns. Given the protocol’s deployment of smart contracts functionality, more investors are becoming interested in the blockchain platform. Cardano’s penchant for scientific-based research and upgrades has also seen investors flock to buy the protocol’s ADA token.
ADA’s Weekly Performance
ADA has broken several records this past month, hitting an all-time high (ATH) of $3.10 in the sequel to the launch of its smart contracts. However, the Ethereum rival has mainly followed in the footsteps of crypto bellwether Bitcoin, rallying when the large-cap asset does and dipping in a market downturn.
This week, ADA has struggled for some parity hitting a base price of $1.99 on Sept. 22. It picked up once more but has not been able to make much in terms of market gain given the bearish trend of the market. At press time, ADA is still in the red and trades at $2.227, down 0.58%. One week losses stand at 5.96%.
ADA in the News
Cardano’s development team Input Output Hong Kong (IOHK) recently announced the launch of the protocol’s dApps store, called Plutus dAppStore. Here, developers will be able to upload their dApps making it easier for users to discover them. As the Cardano network flesh out its plans, the ADA token will continue to rise in value as the network creates an entire ecosystem around it.
5. Solana (SOL)
Another Ethereum rival, Solana has been a revelation this past few weeks. Enabling the development of decentralized applications (dApps) useful in decentralized finance (DeFi) and NFTs, the Solana blockchain has blown red hot this September.
SOL’s Weekly Performance
SOL’s tremendous price stride has slowed significantly with the crypto market cutting back the majority of its gains. However, SOL has been on an uptrend for much of August and two-thirds of this month, hitting a high price peg of $214.46 in a feat of crypto frenzy.
Meanwhile, SOL has had to track back after opening the week at $144.81. The digital asset lost 14.51% the next day, slumping to $122.54, the lowest it has been since early August. While the majority of the crypto market has battled with the bears, SOL’s meteoric rise from under $50 before August to over $200 has seen it remain in the green. At press time, SOL is down 7.53% and trades at $138.29. Meanwhile, it is down 2.71% in the last seven days.
SOL in the News
The Solana blockchain has been one of the most adopted blockchain platforms in the cryptoverse. Dapp platforms have cited the network’s high throughput, energy efficiency, and low cost as reasons for migrating to the protocol. The latest is TRM Labs which is set to enable anti-financial crime monitoring on the Solana blockchain ensuring that transactions that run on the platform adhere to global AML and CFT regulations.
6. Ripple (XRP)
Cross-border payment company Ripple is a well-known crypto protocol and one of the top cryptocurrencies to buy. Majorly used by legacy-backed financial institutions, Ripple’s XRP enables seamless transfer of all asset types across international borders seamlessly. It also cost a fraction of what the Bitcoin and Ethereum networks take in fees and it has a low carbon footprint.
XRP’s Weekly Performance
XRP’s market performance has been greatly hampered by the ongoing lawsuit with the US Securities and Exchange Commission (SEC). The case which has been on for the last ten months, sees the SEC allege that XRP is “unregulated” security. Even though this had a significant impact on XRP price, the digital asset has since shaken off the bears and surge with the broader market.
The past week has been stale in terms of XRP making significant headway. The digital token came into the week trading slightly below the $1 mark and has seen resistance at the price level. It momentarily dipped to $0.8763 on Sept. 22 before climbing to $0.94 in the closing hours of the same day.
XRP briefly touched the $1 mark in the early hours of today before market correction saw it slide to $0.9 once more. At the moment, XRP is down 6.02% and trades at $0.9233. Seven-day losses stand at 13.77%.
XRP in the News
Despite bad relations in the home country, Ripple has continued to expand on the global front. In a press release, the enterprise blockchain company announced that it would be working with the Royal Monetary Authority (RMA) of Bhutan in the launch of a test pilot for the South Asian’s digital version of their fiat currency Ngultrum. Ripple’s central bank digital currency (CBDC) Private Ledger will be utilized in this effort.
7. Avalanche (AVAX)
The Avalanche is one of the hottest and most popular DeFi and NFT-enabling blockchain in the crypto space. The protocol is the fastest smart contracts protocol based on time-to-finality and has the most validator nodes securing its proof-of-stake (PoS) platform. Given its preference for PoS, the Avalanche blockchain is incredibly faster than PoW protocols like Bitcoin and Ethereum, it is also eco-friendly and costs less in transaction value.
AVAX’s Weekly Performance
AVAX has performed the best among the top 20 crypto assets by market cap. It has mainly maintained an uptrend and opened the week on a green at $66.47. However, the digital asset subsequently dipped the following day to $55.35 on Sept. 21.
AVAX has made a great recovery since then hitting a month high of $78.8 on Sept. 23. However, it has tracked back some of its gains and is down 2.93% in the last 24 hours. AVAX trades at $71.67 and seven-day gains stand at 11.78%.
AVAX in the News
The Avalanche network has not been without some good news. Last week, Alpha Finance Lab announced that its Alpha Homora V2 will soon hit major chains and layer-two solutions. The prime blockchain of choice, Avalanche.
8. Tezos (XTZ)
The Tezos blockchain is another popular dApp-enabling platform and has seen a slew of adoption in the last few months. Created to be highly scalable, secure, interoperable and future-proof, Tezos is one of the best cryptocurrencies to buy at the moment. An added incentive is that it is still going for a bargain and the current market dip may be ideal to snap up the XTZ token.
XTZ’s Weekly Performance
XTZ has traded below the $10 mark for most of this month and nothing really changed as this month wraps up. The digital asset began the week at $5.9 following a 4.5% drop from the previous day. It continued on a downward spiral hitting a bottom support price at $4.59 on Sept. 22 before self-correcting upward. XTZ surged thereafter hitting $6.5 the following day. It maintained this price action till the early hours of today and dipped following news of China’s anti-crypto stance. It currently trades at $6.261 and is down 0.94%. However, it is still trading above the 20-day MA price of $6.020 and could surge before the weekend wraps up.
XTZ in the News
The Tezos blockchain has been applauded for its high throughput, low energy use, and cost-efficiency. Popularly musical artist Doja Cat recently endorsed the protocol once more and has launched her 20 edition Doja Cat’s NFT collections on Tezos-based music community.