Join our Telegram channel for the latest news coverage. The cryptocurrency market is back on the rise again. Its total market cap has surpassed $2.7 trillion, up 4% in the past 24 hours. Ethereum (ETH) is ahead of other majors, with Bitcoin (BTC) and others also making solid gains. We rounded up the hottest cryptocurrencies right now in a list of the 5 best cryptocurrencies to buy for the weekend rally.
5 Best Cryptocurrencies to Buy for the Weekend Rally
1. Ethereum (ETH)
ETH has hit a new all-time high in the past 24 hours, reaching a high of $4416. The current price is $4335, up 5.7% in the past 24 hours. It has risen 6% in the past week and 54% in the past month.
As expected, ETH's technical indicators are looking pretty good right now. Its 30-day moving average (red line in the above chart) is moving away from its 200-day moving average (blue line), indicating that it may be reaching a new long-term level. Meanwhile, its relative strength index (purple) shows strong momentum but has not clearly broken out of overbought territory.
As we have been saying since the London hard fork in August, there are many fundamental reasons why ETH is a good buy. In particular, the fork caused Ethereum to burn a portion of transaction fees, making ETH deflationary.
At the same time, more ETH holders are sending crypto to Ethereum 2.0’s staking contract. In fact, the contract now holds over 8 million ETH. This is an impressive number that is likely to increase further when the transition to proof-of-stake occurs next year.
All of this creates a perfect condition for ETH to rise strongly in the days, weeks, and months ahead. In fact, even JPMorgan has started to support ETH, with a report a few weeks ago showing that some institutions are starting to prefer ETH over BTC. That’s why it’s one of our 5 best cryptocurrencies to buy list.
Buy Ethereum Now
2. Bitcoin (BTC)
BTC has also risen in the past day, but not as much as ETH. The current price is $60,850, up 1%. This price is 3% lower than a week ago, but 48% higher than 30 days ago.
For those who want to buy Bitcoin at a relatively discounted price, now is a good time. Its 30-day moving average is still above its 200-day moving average, which means it still has momentum. Meanwhile, its relative strength index is close to 50, indicating that it is still far from being overheated.
Moreover, Bitcoin has many fundamental reasons why it could rally this weekend. Last week, the SEC approved the ProShares Bitcoin ETF. Even better, there are more Bitcoin ETFs that could come, which would further expand its market. When you add rising inflation to the mix, the cryptocurrency has a good chance of ending the year at a higher high.
For Bitcoin bulls, the cryptocurrency could well end the year above $100,000. At least, that’s what the flow-to-stock model predicts, which is now largely on track.
Buy Bitcoin Now
3. Decentraland (MANA)
MANA is currently rising rapidly. The current price is $1.11, and it has risen by 39% in the past 24 hours. This is also an increase of 79% in the past month.
The rally in MANA, the native token of the Decentraland open universe game, has been so rapid that its 30-day moving average has yet to reflect the rise. Nevertheless, MANA’s momentum is growing rapidly for one reason: Facebook.
Facebook? Yes, because the social network announced that it would change its corporate name to Meta. This is intended to highlight its development of a "metaverse" where people can "play, connect (and possibly buy stuff)" in 3D.
However, Facebook’s move to the Metaverse has inadvertently highlighted projects that already offer fully functional Metaverses, such as Decentraland. As a result, MANA has surged in the past 24 hours, and similarly, The Sandbox (SAND) has gained 16%, outperforming the average.
Meanwhile, Facebook’s announcement coincided with Decentraland’s first Metaverse Festival, an event that highlighted Decentraland’s growth and success, and how far ahead it has come on Facebook and other potential competitors.
Missed the #MetaverseFestival?
Or do you just wish you could turn back time and relive it?
We wrote an article about our four magical days in @decentraland
Buy Mana Now
4. Shiba Inu (SHIB)
SHIB has gained 7.6% in the past 24 hours to $0.00007150. This means it has gained 159% in the past week and more than 900% in the past month.
SHIB continues to surge higher with its 30-day moving average well above its 200-day moving average. It has been surging ever since Elon Musk tweeted a picture of a Shiba Inu dog and it looks like it is gaining momentum.
According to reports, speculators have been buying SHIB in large quantities, leading to the continuation of this rally. It is unclear when it will end (it will definitely end at some point), but it seems that there is enough momentum for it to rise. Despite its poor long-term fundamentals, SHIB still made it to our list of the 5 best cryptocurrencies to buy.
Buy SHIB Now
5. Polkadot (DOT)
DOT has been largely unchanged over the past 24 hours, down 0.3% to $43.17. This price is also largely flat compared to a week ago, but up 64.6% over the past 30 days.
DOT is currently a technically and fundamentally worthy coin to buy. Technically, its relative strength index is firmly in neutral territory, indicating that it is more likely to rise than fall (which usually occurs after being overbought).
From a fundamental perspective, Polkadot is awaiting its first parachain auction. These auctions will determine which projects can be built on Polkadot and connected to the platform’s central relay chain. Once this auction is over, we can expect DOT to see a strong rally. We can also expect DOT to rally in the days leading up to the auctions, as the first auction will take place on November 11th.
If passed, Referendum 39 would schedule the first auction to take place on November 11, 2021 [over 26 days]. As a reminder to those who wish to participate in the auction, Polkadot’s unbonding period is 28 days.
Basically, the auction will lead to the launch of the platform on Polkadot. In turn, the demand for DOT will increase significantly, as parachains will need it for bonding (connecting to the main relay chain) and for fees, governance, and staking. Therefore, it is very likely that DOT will surge soon. That's why it is one of our 5 best cryptocurrencies to buy list.
Buy DOT Now
Risk Warning: There are risks
Read more:
How to Buy Cryptocurrency
How to Buy Bitcoin
Buy Polkadot
How to Buy Ethereum
Join our Telegram channel to get the latest news coverage
English 
Chinese (China) 
Chinese (Hong Kong) 