The crypto market may continue to rise this year as investors adopt a risk-on sentiment following the ceasefire in the Middle East and some dovish statements from the Federal Reserve. This sentiment has pushed the Nasdaq 100 Index to a record high. This article looks at the top crypto to buy ahead of the next bull run.
The Nasdaq 100 Index, which tracks the biggest technology companies in the United States, jumped to a record high today, June 25. This surge was driven by NVIDIA, which reached an all-time high and became the largest company by market cap, with a value exceeding $3.7 trillion.
NVIDIA’s stock price surged as investors predicted that AI spending would accelerate this year. This growth was driven by companies such as Meta Platforms, Alphabet, and Amazon, which collectively account for approximately 40% of its revenue. In a note to Bloomberg, an Allspring analyst said:
“The momentum has clearly been re-established, and Nvidia’s moat has only widened and deepened, meaning its position has only strengthened.”
AI companies have contributed to the Nasdaq 100 Index reaching a record high this year. Palantir stock price has jumped by 87% this year and 490% in the last 12 months. Similarly, Zscaler and Micron stocks have surged by 70% and 50%, respectively.
Other top gainers in the Nasdaq 100 Index this year are firms like CrowdStrike, Netflix, KLA Corporation, and Constellation Energy.
The ongoing surge in the Nasdaq 100 Index may trigger further gains among altcoins, as they are all characterized as high-risk assets. Some of the best crypto to buy are Maple Finance (SYRUP), Pi Network (PI), and Bitcoin Pepe (BPEP).
Maple Finance is one of the best crypto tokens to buy and hold this year as its surge gains steam. The main bullish thesis for the coin is that its total assets under management (AUM) have jumped to over $2.47 billion. This growth has primarily occurred due to the SyrupUSDC, whose market capitalization has surged to nearly $1 billion.
The SYRUP price has a good combination of technicals and fundamentals, meaning it may continue to surge as bulls target the resistance point at $1. Such a move would imply a 67% surge from the current level.
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Pi Network is another top crypto to buy for substantial gains in the coming weeks. The main bullish catalyst for the token is its strong technicals. As the chart above shows, Pi has formed a double-bottom pattern at $0.3945 and a neckline at $1.6622.
Pi Network has also formed a falling wedge pattern, a popular bullish reversal sign in technical analysis. This pattern comprises two falling and converging trendlines. Therefore, a bullish breakout to $1 is possible before or after the Pi Day 2 event. The bullish forecast will become invalid if the token drops below the support at $0.3945.
Bitcoin Pepe is another good quality crypto to buy for big gains as the Nasdaq 100 Index surges. It is a top coin that aims to leverage Bitcoin’s popularity, with the concept of meme coins and layer-2 technology.
Bitcoin Pepe’s developers are building a layer-2 network that will enable users to easily launch new meme coins. It will also feature a full suite of other tools and capabilities, including a decentralized exchange (DEX) that enables users to trade these coins.
Bitcoin Pepe’s ambition and market opportunity explain why it has become one of the best presales of the year, raising over $15 million from investors. This fundraising effort is likely to gain traction ahead of the exchange listings scheduled for later this year. Hurry up and buy Bitcoin Pepe here.
