As the release of US Nonfarm Payrolls (NFP) data approaches tomorrow, the crypto market is seeing a downturn today, and investors are preparing themselves for the unknown. The NFP measures the number of US workers, excluding individuals in farming, private households, non-profits, and active military personnel.
The Bureau of Labor Statistics produces a monthly report on the “Employment Situation” based on surveys of private and public entities throughout the US. As investors eagerly anticipate the release of US NFP data what are the best cryptos to buy today?
The NFP is expected to add 210,000 jobs in February, a much lower figure than the surprise increase of 517,000 jobs in January. Policymakers use the NFP data to make informed decisions on the state of the US economy and to forecast future economic activity.
An increase in job numbers suggests the economy is growing, of course, and spending is expected to rise, potentially driving inflation higher–which is viewed as negative for the economy. Analysts predict that the Federal Reserve may continue its aggressive interest rate hikes if jobs and inflation numbers exceed expectations. This, in turn, could increase the selling pressure on risk assets such as Bitcoin and other cryptocurrencies.
In addition to NFP data, the recent hawkish remarks from US Federal Reserve Chair Jerome Powell have dampened the market’s mood. Powell stated that inflationary pressures are running higher than expected, and with the latest economic data coming in stronger than anticipated, the ultimate level of interest rates may be higher than previously expected. Analysts are pricing in a 50 basis point hike in March, rather than 25.
As the NFP data release approaches, Bitcoin’s position appears bearish. BTC has been on a downtrend for the past three days since its rejection from the $22,600 level on March 6. As of writing, BTC is trading at $21,082, representing a loss of 2.85% so far today. If BTC closes below the horizontal support level of $21,373 to $21,628, it may experience further declines to its next potential support level of $20,327 to $20,678.
The future movements of BTC are largely dependent on the NFP data and Powell’s comments. Although there is room for recovery, the impact of the NFP data on BTC’s price remains to be seen.
Considering the current market uncertainty, investors are advised to exercise caution and consider both fundamental and technical analyses when choosing investment options. Based on these analyses LHINU, SHIB, FGHT, TON, CCHG, and TARO may be among the best crypto to buy today.
LoveHateInu Launches Vote-to-Earn Platform for Anonymous Voting and Crypto Rewards
Love Hate Inu (LHINU) has recently announced the launch of its Vote-to-Earn platform. This platform incentivizes users to vote on various polls, including political, social, and entertainment topics while gaining cryptocurrency rewards. LHINU is a meme coin with utility that aims to transform the online survey market by introducing a blockchain-powered voting platform.
The voting system is built on Ethereum blockchain technology, ensuring the process is secure, transparent, and tamper-proof. The system’s primary objective is to deter spamming and manipulation, and participants have the flexibility to purchase tokens with either traditional currency or cryptocurrency. The platform has already gained a significant following on social media, thanks to its fun character illustrations.
The presale of LHINU is segmented into multiple stages, with each phase lasting for seven days and raising the price of the token incrementally. The preliminary sale involves allocating 90% of the tokens to supporters of the initiative, with the remaining 10% being set aside for exchange listings. During the initial stage, the presale has collected over $183k out of its $956,250 goal.
The project aims to promote healthy discussions on current topics while offering secure and anonymous voting. By leveraging distributed ledger technology, LHINU’s voting platform on the blockchain maintains unalterable records, which guarantees an equitable and unambiguous voting procedure. The platform’s launch signals a significant step forward for blockchain-based voting and may disrupt traditional survey markets.
Shiba Inu (SHIB)
On Wednesday, Shiba Inu’s SHIB cryptocurrency experienced a day of volatility with a price fluctuation of more than 9%. The cryptocurrency reached a high of $0.00001169 during the day, but it fell to $0.00001072 at one point.
By the end of the day, SHIB had closed at $0.00001093 at a loss of 1.71%. The forthcoming launch of Shibarium, a decentralized exchange platform developed by Shiba Inu, has contributed to the increased volatility of SHIB.
Currently, SHIB’s technical indicators are signaling a bearish trend for the crypto. The 20-day, 50-day, and 100-day EMAs are in a downtrend, and SHIB’s price is below all major EMAs. The RSI is slightly oversold, but the MACD histogram is showing a negative trend, indicating continued bearish momentum for SHIB.
SHIB’s price is currently at $0.00001060 with a loss of 3.02% so far today. This is near the immediate support level of $0.00001083 to $0.00001095. If the price closes below this level today, it could potentially fall to its next support level of $0.00000971 to $0.00000985.
The immediate resistance for SHIB is at the 100-day EMA of $0.00001137, followed by the horizontal resistance at $0.00001160 to $0.00001174.
Fight Out Merges Fitness and Fantasy Sports for One of Best Cryptos to Buy Today
Fight Out, a move-to-earn fitness app that combines the worlds of fitness and fantasy sports, is causing a stir in the industry. By enabling users to create virtual teams of fighters and place real bets on fight results, Fight Out provides a level of immersion never before seen in traditional fantasy sports.
The platform is built around the move-to-earn (M2E) trend, which is gaining popularity in the fitness industry. Fight Out takes this concept a step further by integrating fantasy sports , allowing users to create lineups of real life fighters to bet on real life outcomes of fights against their peers.
Fight Out also offers an extensive fitness solution that includes plans to introduce Web3-powered gyms worldwide. These fitness centers will feature state-of-the-art gear and Web3-enabled tools such as electronic mirrors and detectors that monitor physical activities and offer guidance and knowledge.
Users can earn REPS tokens by completing their workouts and competing with other fitness enthusiasts to gain even more tokens. You can swap these tokens for markdowns on application memberships, access to workout centers, individual mentoring, and merch.
Fight Out features an exciting selection of PVP and PVE games that let users unleash their inner fighters. They can participate in leagues, tournaments, or exclusive competitions to win fantastic prizes by paying $FGHT. Users can also do battle with NFT avatars, allowing users to engage in virtual battles with their digital selves that are tied to their real life fitness progress.
The platform’s FGHT token presale has attracted over $5.3 million in investment so far, making it one of the best cryptos to buy today
Toncoin (TON) has remained resilient in the midst of a bearish cryptocurrency market. While many coins experienced significant drops in value on Wednesday, TON managed to close yesterday’s trading session with a gain of 2.78%.
This recent uptick in price could be attributed to network developments that have caught the attention of investors. Ton Starter has recently disclosed that they received $1.5 million in funding, while an open-world game known as Hidden
Beyond has launched a fusion of Metaverse and GameFi on the Ton blockchain.
By using a reverse Fibonacci retracement on TON’s recent downward trend, it can be observed that the cryptocurrency has faced several rejections from Fib 0.5, which is at $2.417, for the past five days.
Earlier today, TON made an attempt to break out from the 20-day EMA and Fib 0.5, reaching an intra-day high of $2.441. Unfortunately, the current trading price of TON is $2.333, a loss of 1.52% so far today, which suggests that the price has once again been rejected from Fib 0.5 at $2.417.
Fib 0.5 at $2.417 serves as the immediate resistance for TON. If the price continues to decrease, support may be found at Fib 0.382, which is at $2.303. If it declines further, the dynamic support of 100-day EMA at $2.207 may provide additional support.
C+Charge Aims to Boost EV Charging Infrastructure
C+Charge, a blockchain-based peer-to-peer payment and charge station search platform, is looking to provide a sustainable solution to the growing demand for electric vehicle (EV) charging infrastructure. The company’s approach aims to improve the charging and payment experience for EV owners through an environmentally-friendly system.
To achieve this, C+Charge intends to construct new charging stations while also partnering with existing ones. The system allows its users to locate nearby charging stations and pay by utilizing the CCHG token. The use of blockchain technology guarantees clear and streamlined payment processing, and the associated application offers up-to-the-minute details regarding regional charging alternatives and automobile charging diagnostics.
In addition, EV owners using the platform will receive carbon credits in the form of Goodness Native Tokens (GNT). The tokens embody verified carbon credits that can be traded through the application. These tokens are supported by leading companies in venture capital.
C+Charge’s presale comprises eight stages, each lasting a week before the token price increases. The presale has already raised over $2.6 million, with the price of the token set to rise further in the upcoming presale stage in less than 6 days.
RobotEra Creates Unmatched Metaverse with Play-to-Earn Experience
The metaverse is a highly coveted space in the tech industry, with numerous companies competing for attention. RobotEra is an upcoming metaverse crypto gaming project that aims to provide a seamless play-to-earn experience for its users. The platform combines elements such as exploration, entertainment, interaction, creation, and decentralized governance, creating an immersive and interactive experience.
RobotEra’s cryptocurrency and digital asset integration sets it apart from other games in the space, allowing players to profit from their in-game contributions.
Another aspect that distinguishes RobotEra is its use of virtual and augmented reality and easy-to-use Minecraft-like building tools, empowering players to customize robots, landscapes, and structures, and elevating creativity in the metaverse gaming industry.
RobotEra’s dedication to community governance and decentralization further enhances the platform’s uniqueness.
The platform’s DAO empowers players to suggest or decide the implementation plan of their faction, along with determining how tokens in their treasury are utilized. This mechanism provides players with ownership and control over the platform, resulting in an authentically democratic and collaborative gaming experience.
In addition, RobotEra is building a dynamic ecosystem that fosters player collaboration, sharing, and trading, allowing them to connect their individual lands for endless opportunities like creating interconnected concert venues, theme parks, museums, and more, establishing a highly social experience.
RobotEra’s TARO token has raised nearly $1 million during its presale, offering investors an exciting opportunity to get in on a project that has a high chance of a successful launch and making it one of the best cryptos to buy today.
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