Bitcoin tapped $97K in the early hours of Wednesday morning after China’s central bank cut interest rates to 1.4% and injected 1 trillion Chinese Yuan ($138.6 billion) into the market.
The move will bolster economic activity in the region, which is bullish for globally available assets like cryptocurrencies.
Meanwhile, the Federal Reserve will decide whether to cut U.S. interest rates on Wednesday. The expectation is no change, but the market is pricing in a 74.8% chance of a rate cut by 30 July, per CME Group’s FedWatch tool.
Lowering interest rates have historically proved bullish for the price of risk-on assets such as cryptocurrencies. So with the world’s largest economies each stepping in this direction, plus China injecting additional liquidity into its markets, the global financial outlook is promising – and this places the crypto sector in an exciting spot.
With that in mind, what is the best crypto to buy now?
Ondo
When it comes to cryptos with direct links to the macroeconomic world, Ondo leads the way. It’s a multifaceted platform providing numerous markets for real-world assets.
Its core offerings are tokenized US treasuries and a yield-bearing stablecoin. These two products provide global investors with seamless access to US-based yields, showcasing the power of borderless blockchain properties in real time.
Beyond that, the project also offers Ondo Global Markets, a real-world assets trading platform that allows users to invest in thousands of 1:1 backed tokenized assets, including stocks, bonds, and ETFs.
Ondo is bridging the traditional finance and blockchain worlds. So factoring in the rising interest in blockchain technology among TradFi players, it’s a setup with real potential.
Solaxy
Solana is one of the ecosystem’s attracting the most institutional interest right now. The $11.5 trillion asset manager of BlackRock moved its tokenized money market to the chain earlier this year, as did the $1.7 trillion asset manager Franklin Templeton.
Meanwhile, firms like SOL Strategies and DeFi Development Corp are raising funds in traditional financial markets to accumulate $SOL and expand their operations on the chain.
With a monthly user base of over 80 million people, Solana has everyone’s attention. But buying Solana directly may not yield the biggest gains; the smartest move might just be Solaxy.
It’s the world’s first Solana layer 2 blockchain, tackling the chain’s congestion issue. In periods of peak activity, congestion arises and leads to longer wait times and increased rates of transaction failures.
Solaxy will provide Solana with an additional 10,000 transactions per second, allowing it to accommodate more adoption and use cases.
The project is undergoing a presale and has raised $33 million so far. The $SOLX presale has been a roaring success, which indicates the project could continue to make gains once it hits exchanges.
Virtuals Protocol
Virtuals Protocol is an AI agent launchpad that allows anyone to deploy an agent in seconds and with simple, text-based prompts. It democratizes the process of owning and operating an AI agent – all you need is imagination and 100 $VIRTUALS tokens.
The last part is partly why Virtuals Protocol could be a smart buy. While many AI agent cryptos lack utility, demand for $VIRTUALS directly correlates with platform activity.
This means that any new ecosystem upgrades could potentially skyrocket the $VIRTUALS price, and we’ve seen that in real time this month.
The project added a new feature called Genesis Launches, which is like Pump.fun for AI agents, except it ensures fair token distribution and rewards creators. It kickstarted a wave of ecosystem activity, and the $VIRTUALS price has surged over 200% this month as a result.
The project has a $910 million market cap, making it one of the leading AI agent cryptos. It’s currently the 74th largest crypto by market cap, but due to the popularity of AI technology, there’s every chance it will rise higher up the ranks this year.
Stacks
Bitcoin spearheads the crypto market, and recent macroeconomic developments indicate that it’s set for a bullish performance in the coming months.
But cryptos within Bitcoin’s ecosystem tend to coordinate most closely with Bitcoin’s price action, except often with more volatile swings due to their lower market capitalizations.
Stacks is one of the Bitcoin-related projects showing the most potential. It’s a smart contract-enabled Bitcoin layer 2 blockchain that offers cheaper fees and faster speeds than the main network.
What makes Stacks most interesting is its smart contract functionality. It allows developers to build apps inside the Bitcoin ecosystem and unlocks native Bitcoin yield for users.
Investors will seek creative ways to compound their holdings as interest in Bitcoin rises. Stacks, secured by the Bitcoin Network, offer just that.
It has soared 6.6% today while Bitcoin is up 2%, underlining that it tends to outperform the market leader in bullish periods.
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