Best Crypto to Buy Today March 20 – KCS, Stacks, Toncoin
As concerns about Ether (ETH)’s regulatory status in the US weigh on market sentiment on Tuesday, and one day after spot Bitcoin ETFs just saw their biggest daily outflow, traders are hunting for the best crypto to buy today to maximize their chances of securing quick gains.
The SEC is reportedly waging a campaign to classify Ether as a security in wake of its shift to proof-of-stake.
That according to a Fortune article, which was released shortly after separate reports emerged that the Ethereum Foundation has been served by an unnamed state authority.
⚠️ ETHEREUM FOUNDATION UNDER INVESTIGATION BY 'STATE AUTHORITY: COINDESK
— *Walter Bloomberg (@DeItaone) March 20, 2024
Ether (ETH) was last trading around $3,300, still up around 4.7% on the day.
Bitcoin (BTC), meanwhile, was last trading in the $64,000s, up around 4% from earlier session lows under $62,000.
With the SEC looking to classify Ether as a security, spot ETF applications are likely to be rejected by the agency in May.
Elevated US regulatory uncertainty suggests Ether is not the best crypto to buy today.
Bitcoin might not be either. That’s because profit-taking following it hitting new record highs above $73,000 last week might not be over.
Significant outflows from GBTC yesterday resulted in the largest daily net outflow (-5,039 BTC) for Bitcoin ETFs to date…
…but zooming out, the broader trajectory is clear. pic.twitter.com/tofg7U8oep
— Onramp (@OnrampBitcoin) March 20, 2024
However, there are some smaller altcoin names demonstrating strong bullish momentum.
Here are some of Wednesday’s best performers that could be the best crypto to buy today.
KuCoin exchange’s native utility token KCS leads the altcoin market on Wednesday, up 9% in 24 hours as per CoinMarketCap.
With a
Read more on cryptonews.com
