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Best Crypto to Buy Now February 6 – Arbitrum, Gnosis, Bitget Token

5 Mins read

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Each day, we review some picks for the best cryptos to buy now based on the latest market movements, news and trending narratives.

In the early months of 2024, the crypto market has experienced growth despite last year’s volatility and bearish trends. Numerous tokens have seen significant surges, vying for recognition as top investment options. This intense competition often creates innovative investment opportunities, attracting investors seeking promising ventures. This article identifies several of these tokens, guiding investors seeking the best investment options.

Best Crypto to Buy Now

Arbitrum has caught the blockchain community’s interest by assigning nearly $90 million ARB tokens to a long-term incentives program. This initiative aims to boost activity on its layer-2 (L2) solution. Meanwhile, Sui has seen impressive growth in the decentralized finance (DeFi) sector, with its Total Value Locked (TVL) surpassing $500 million. Similarly, Bitget has launched an upgraded version of its bot copy trading feature to enhance user experience.

1. Arbitrum (ARB)

Arbitrum has caught the blockchain community’s interest with its decision to allocate nearly $90 million worth of ARB tokens to a long-term incentives program. This move aims to boost activity on its layer-2 (L2) solution, which enhances Ethereum’s capabilities through Optimistic Rollups. Developers of DApps and smart contracts are increasingly choosing Arbitrum due to its improved transaction speed and reduced costs.

ARB Price Chart

With a significant allocation of ARB tokens to developers and Web3 projects, there is anticipation regarding the platform’s prospects. Furthermore, the ARB token is trading at $1.81, showing a 3.29% increase in the last 24 hours. Moreover, the token is trading above the 200-day simple moving average. 

Sentiment analysis suggests a bullish outlook for Arbitrum’s price prediction, while the Fear & Greed Index indicates a sentiment of greed at 64. Over the past 30 days, the token has seen positive trading trends for 16 days. The future of ARB appears promising, with the incentive program expected to drive development and innovation on the platform. 

However, concerns linger regarding the Arbitrum ecosystem’s centralization and incentives’ effectiveness in fostering long-term growth. Despite these challenges, strong support for the program and recent milestones highlight Arbitrum’s potential to solidify its position in the blockchain space.

2. Gnosis (GNO)

Gnosis is a decentralized autonomous organization (DAO) within the Ethereum ecosystem. Gnosis focuses on building infrastructure for decentralized applications (DApps) and guides transparent decision-making processes within its ecosystem.

Furthermore, Gnosis’s native token, GNO, saw a 5.91% increase in price. This positive movement is part of a larger trend, with GNO experiencing a remarkable 98% price surge last year. Moreover, this performance places Gnosis in the top tier, outperforming 77% of the top 100 crypto assets over the same period.

GNO Price Chart

Technical analysis reveals that Gnosis’s price currently exceeds its 200-day simple moving average, indicating bullish sentiment among investors. Additionally, Gnosis boasts a circulating supply of 2.59 million GNO out of a maximum supply of 3.00 million. In addition, Gnosis holds the 12th position, showcasing its significance within the DeFi Coins sector. 

Also, within the Ethereum (ERC20) Tokens sector, Gnosis ranks 24th, underscoring its relevance within the broader Ethereum ecosystem. Overall, Gnosis focuses on building DApps and facilitating transparent decision-making. Its recent price surge reflects growing interest in its ecosystem and goals.

3. Bitget Token (BGB)

Bitget has rolled out an upgraded version of its bot copy trading feature to enhance user experience. It also provides access to a broader array of high-quality bots. This feature, touted as one of Bitget’s core offerings, aims to connect experienced traders with regular users for easier cryptocurrency trading.

BGB Price Chart

By the end of 2023, bot copy trading on Bitget gained significant traction. It boasted over 7,000 strategists, over 20,000 bots, and nearly 10,000 followers, generating a profit of $100 million. These numbers kept growing steadily. This latest upgrade represents a big step in meeting user preferences and improving existing features.

At the time of writing, the Bitget Token (BGB) is trading at $0.6379, experiencing a 7-day surge of 6.86%. However, the token saw a slight 0.20% decline within the past 24 hours. Moreover, BGB is currently trading above its 200-day simple moving average, indicating a positive trend in its price movement.

The prevailing outlook for Bitget Token is bullish, as reflected in the Fear & Greed Index, which has a score of 64 (Greed). Moreover, BGB saw a 194% price increase over the past year, outperforming many of the top 100 cryptocurrencies.

4. Bitcoin Minetrix (BTCMTX)

Bitcoin Minetrix has introduced a novel approach to cryptocurrency mining with its Stake-to-Mine (PoS) mechanism. This platform allows token holders to stake or burn their tokens to acquire Mining Credits, disrupting the traditional cloud mining landscape. The project aims to tackle the challenges associated with conventional cloud mining by establishing a secure and efficient ecosystem. 

Moreover, users can stake their $BTCMTX tokens to earn token rewards. Furthermore, the token presale has amassed over $10 million, with each token sold at $0.0133. However, there is a three-day window before the next price increase. Furthermore, Bitcoin Minetrix is presently in Stage 24, with only four days remaining until this stage concludes.

In addition, Bitcoin Minetrix offers a more secure and transparent cloud mining experience. Users can stake tokens without additional cash payments, and the flexibility to unstake and sell tokens on an exchange enhances liquidity. Furthermore, the lock-in period is determined by individual investors, diverging from fixed terms found in other cloud mining projects.

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5. Sui (SUI)

Sui has demonstrated impressive growth in its decentralized finance (DeFi) sector, with its Total Value Locked (TVL) surpassing $500 million. This achievement solidifies its position among the top 10 DeFi ecosystems. Furthermore, Sui’s on-chain activity has seen a significant surge alongside the remarkable increase in TVL. 

Moreover, the token’s weekly DeFi volume reached $745 million, a 63% rise from the previous period. Sui now ranks among the top 5 most active DeFi ecosystems. In addition, SUI has forged alliances and partnerships with leading industry builders, signaling further growth. 

SUI Price Chart

Also, Sui is on the brink of introducing its first native stablecoin. A recent development involves Ondo Finance, integrating its treasury-backed tokens, tokenized securities, and real-world assets into the Sui ecosystem.

These integrations and developments have contributed to a surge in SUI’s price. Currently, sentiment towards Sui’s crypto price prediction is bullish, while the Fear & Greed Index stands at 64 (Greed). SUI is trading above its 200-day simple moving average, indicating positive momentum. Additionally, the token has shown strong liquidity based on its market capitalization.

Meanwhile, Cryptocurrency exchange Gemini has reported that Genesis, a prominent crypto lender, is in the process of offloading assets from the Grayscale Bitcoin Trust (GBTC). 

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