Best Crypto to Buy Now September 14 – Hedera, THORChain, Curve DAO
The market capitalization of cryptocurrencies is currently increasing by 1.24%, reaching $1.035 trillion on September 14, as per data from TradingView.
This rise can be attributed to the gains witnessed by top cryptocurrencies like Bitcoin, Ethereum, and Solana, in response to the latest inflation data and increased speculation that the Federal Reserve may suspend interest rate hikes in their forthcoming September meeting.
Given the current macroeconomic conditions, what are the best cryptos to buy now?
The rally comes after the Labor Department reported the Consumer Price Index jumped 0.6% in August compared to the previous month.
This was higher than expected. However, core inflation, which removes volatile food and energy categories, was only up 0.3% -- evidence that price pressures may be easing overall.
Market participants are now pricing in a 97% probability that the Fed will keep rates unchanged at the upcoming September 20-21 policy meeting, according to CME FedWatch Tool.
Some analysts also pointed to reduced fears around contagion from the FTX bankruptcy as supportive of the cryptocurrency rebound.
On September 13, a federal judge approved the sale of remaining crypto assets from the failed exchange but excluded major coins like bitcoin and ether that account for 70% of holdings.
The excluded assets also have vesting schedules and limits on weekly sales volumes.
Still, some technicians cautioned that further upside may be limited until the crypto market capitalization can break back above its 50-day moving average, currently around $1.08 trillion.
Failing to overcome that technical threshold could result in a potential drop toward the $980-995 billion range.
For now, the outlook for Fed policy and limited spillover from
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