Best Cryptocurrencies to Buy in September 2021
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We’re into the final quarter of the year, and investors are already looking into the best cryptocurrencies to buy this month. Given that the crypto market made a significant comeback in August, there is a lot of optimism that prices will jump even higher going into September.
Below, we’ll look into some of the most exciting coins and projects across the industry this month that you should keep an eye on:
1. Bitcoin (BTC)
Kicking off our list of the best cryptocurrencies to buy this month is none other than Bitcoin. Still the most popular coin in the world, Bitcoin is on pace to deliver bigger value to investors. It’s almost impossible for a rally to happen in the crypto space without starting with – or, at least involving – Bitcoin. So, if you’re looking for a safe place to keep your money in the crypto market, Bitcoin is still your best bet.
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What Makes Bitcoin Poised for Bigger Gains?
Bitcoin has always benefited from its position in the industry. The incumbency power still stands strong behind it, and the asset has always been the frontrunner. There has been some talk about Bitcoin being knocked off its perch by Ether (ETH), but that won’t happen anytime soon – if at all.
Bitcoin remains in high demand, with different institutions and countries adopting it by the day. This month alone, reports have suggested that top social media platform Twitter might be working on adding Bitcoin to its Tip Jar – its feature that allows users to send micropayments to each other.
Twitter’s chief executive Jack Dorsey has always been a big fan of Bitcoin. So, this isn’t much of a surprise. More adoption plays like this will only help Bitcoin’s cause.
Currently, Bitcoin trades at $47,545 – up 0.47 percent in the past day and down 2.40 percent in the past week. The asset is trading above its moving averages (MAs), with its 20-day MMA standing at $47,500 and its 200-day MA at $46,240.
With a relative strength index (RSI) of 55.55, BTC is also quite underbought. This is a great time to get in.
2. Solana (SOL)
SOL is the next entry on our list of the best cryptocurrencies to buy this month. It is the native token for Solana – a high-performance, a programmable blockchain that has risen in prominence this year.
Solana’s popularity is due in no small part to the scalability issues faced by the Ethereum blockchain. More users – especially in the decentralized finance (DeFi) sector – have been looking towards alternatives for Ethereum, and Solana has been a heavy hitter.
With a particular focus on industries like DeFi, Solana allows developers to build decentralized applications (dApps). It is fast, secure, and censorship-resistant. So, developers enjoy all the flexibility required to build.
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What Makes SOL Attractive?
SOL is Solana’s native token. It is used to pay for on-chain transactions, and users can stake it. With Solana getting more popular, SOL will become more valuable as well.
Besides the functional details, investors will want to keep an eye out for SOL because it is currently on a significant rally. Earlier this week, Solana developers shared a teaser video for an event tagged “Ignition.” Many in the community are excited for what it could mean – so much so that they pushed the SOL price to a new all-time high to enter into the new month.
SOL now trades at $117.76, up 4.36 percent in the past day and an impressive 63.35 percent in the past week. The asset’s technicals are solid, with an RSI of 83.31 and a 20-day MA of $77.23. The asset’s 200-day MA is even much lower, at $34.76. Everything is aligning for SOL.
3. Binance Coin (BNB)
BNB is the native token for Binance – the world’s largest cryptocurrency exchange. BNB is used primarily for settling transaction fees on Binance and is considered by many as one of the best cryptocurrencies to buy this month. As you can expect, BNB’s value is primarily gotten from its transaction volumes. The more people come to use the exchange, the more BNB’s price surges.
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Why Invest in BNB?
BNB had an impressive performance in the last bull run, hitting an all-time high of $691.2. It hasn’t been able to recapture these highs, but BNB has done pretty well in the past month – as evidenced by its 41.2 percent gain. BNB now trades at $482 – up 1.72 percent in the past day, but down 4.06 percent in the past week.
Investors will be eager to see how BNB performs with Binance overhauling its leadership in order to appease regulators. This week, the exchange hired Leigh Travers, the former CEO of blockchain company DigitalX, as the new CEO of its Australian subsidiary. If the company can stay on regulators’ good side enough, it should be able to operate.
4. Cardano (ADA)
ADA is the native token for the Cardano blockchain. It performs the same functions for Cardano as SOL performs for the Solana blockchain.
ADA has been on a significant rally over the past month, with Cardano now looking to step into the same frame as blockchain platforms like Etehreum, Polkadot, and more. There is no doubt that it should be on the list of the best cryptocurrencies to buy this month.
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Why Include ADA on the List?
As expected, ADA’s value comes from the utility of the Cardano blockchain. Thankfully for Cardano fans, the blockchain itself is looking highly attractive these days. It is expected to fully launch smart contracts in the middle of September, bringing it almost on equal footing with Ethereum.
In July, the Cardano blockchain entered the Goguen phase of its current developmental rollout. The phase itself is broken into three pieces, with the latter being called “Alonzo.” Alonzo will bring smart contract functionality to the Cardano blockchain, and the blockchain itself started integrating it in July. In fact, some insiders currently have smart contract functionality on the Cardano blockchain.
A full rollout of smart contracts is expected to come alive on September 12. There has been significant excitement for smart contracts on Cardano, as evidenced by ADA’s 114.9 percent jump over the past month.
ADA now trades at $2.87, and it looks poised to test the $3 mark once more. The asset is tup 4 percent in the past 34 hours and 4.9 percent in the past week.
ADA is also technically sound, trading well over its 20-day MA of $2.52 and holding an RSI of 67.37. This is an interesting time to buy ADA.
5. Axie Infinity (AXIE)
Axie Infinity is a popular blockchain game that allows players to collect pets known as Axies. These pets can be trained, groomed, and traded across the Axie ecosystem. In a short time, this game has grown to become the top Ethereum-based gaming dApp by on-chain volume. With over 100,000 unique weekly users, it is also one of the most popular gaming dApps by user count.
Axie Infinity uses Axie Infinity SHards (AXS) and Smooth Love Potions (SLP) as tokens. AXS is the governance token, giving holders the opportunity to be a part of Axie’s decentralized organization. They can vote on upgrades and developments within the ecosystem. On the other hand, SLP is earned by playing the game and can be used to breed new Axies.
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What is the Outlook for AXS?
AXS is perfect for investors looking to ride a growing trend. The asset has done been on a significant run this year and deserves a place in our list of the best cryptocurrencies to buy this month. AXS has set new highs at every turn. In 2021 alone, AXS went from trading for $0.60 to $72.94. The asset barely felt the effects of the downturn, and it started rallying back in June – when other large-cap cryptos were sputtering.
After testing $80 once more this week, AXS is now consolidating. But, this consolidation won’t last long. The asset is trading up 1.3 percent today, but down 0.3 percent in the past week. This daily movement suggests that AXS is getting ready for a big move. Even its tussle with regulators in the Philippines won’t stop this rally.
The technicals have aligned as well. AXS is trading above its 20-day MA of 472.74, and it has obliterated its 200-day MA of $17.67. With an RSI of 60.46, this asset is still underbought.
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