Best Crypto To Buy Today May 17

The cryptocurrency market is sending bullish signals today, with Bitcoin crossing the $66,000 mark. This, coupled with the growing adoption of cryptocurrencies in mainstream finance, has renewed optimism that the 2024 crypto bull rally may have started. As such, it could be time to start scouting for high-potential cryptocurrencies to buy while still undervalued.

In this article, we analyze cryptocurrencies that have the potential to go parabolic as the market bounces back. Each of the cryptocurrencies in this list has the potential to rally by 3X or more in the short to medium term.

In this section, we look at some of the best cryptocurrencies to buy now as bulls gain traction across the market. We look at Chainlink’s potential now that it has inked a deal with some of the largest financial institutions in the world, ONDO, an RWA cryptocurrency that is also gaining adoption as the world moves towards tokenization, and Pendle, which is showing signs of a bullish reversal. The article also looks at Bitcoin as institutional interest rises and Dogecoin thanks to its growing utility as a currency for everyday payments.

Chainlink (LINK)

Chainlink (LINK) stands out among the best cryptocurrencies to buy today, thanks to FOMO around its partnership with DTCC. Investors are excited that the partnership positions Chainlink at the core of the global financial system. Chainlink’s collaboration with DTCC is pivotal as it leverages Chainlink’s Cross-Chain Interoperability Protocol (CCIP) technology.

We’re excited to share the results of a new Smart NAV industry pilot between @The_DTCC, Chainlink, and 10 of the world’s largest financial institutions that delivered key mutual fund data onchain.

Full report: https://t.co/ob3K0s4g86

The significance for fund tokenization 🧵 pic.twitter.com/74zocXa2s0

— Chainlink (@chainlink) May 16, 2024

Even better is that the partnership includes major financial institutions such as JP Morgan, BNY Mellon, and State Street. The successful pilot demonstrated the potential for integrating blockchain technology into traditional financial systems, aiming to enhance data dissemination and interoperability across various blockchain networks. For context on how big of a deal this partnership is, DTCC processes over $2 quadrillion annually, a cornerstone of the financial industry.

By integrating Chainlink’s technology, DTCC aims to improve data accuracy, accessibility, and automation, enhancing its post-trade market infrastructure. As the economic world moves towards tokenization, Chainlink is now right in the middle of it. Investors are also excited that Chainlink is still trading way below its all-time highs despite this and many other partnerships. Expectations are high that this could be the deal that pushes Chainlink to new all-time highs. Rising buying volumes could push LINK higher going into the weekend.

ONDO (ONDO)

ONDO (ONDO) is another high-potential cryptocurrency to invest in today, and it’s all thanks to the excitement that Chainlink has ignited in the Real-World Asset (RWA) tokenization space. The Chainlink-DTCC partnership has spotlighted the potential of asset tokenization in the financial world, drawing attention to cryptocurrencies involved in RWA projects like ONDO.

Ondo Finance is well-positioned in this space, boasting a significant partnership with BlackRock, a global asset manager.

This collaboration underscores ONDO’s strong market potential and strategic alignment with asset tokenization trends. Additionally, Ondo Finance is developing an institutional-grade tokenization ecosystem to connect existing liquidity with high-quality, yield-bearing assets.

Recent initiatives with entities like Zebec Finance aim to enhance ONDO’s product availability and utility. Another critical indicator of ONDO’s success is its Total Value Locked (TVL), which has surpassed $420 million, making it the largest provider of tokenized US Treasuries.

TVL across Ondo Finance’s yield-bearing products has surpassed $420M, making us the largest tokenized US Treasuries provider. And we are just getting started. pic.twitter.com/fLGF4j7a7G

— Ondo Finance (@OndoFinance) May 16, 2024

This robust growth, strategic partnerships, and innovative development positions ONDO for continued growth, making it a compelling cryptocurrency to buy today. Now that it is becoming clear that the finance world is coming on-chain and that asset tokenization is the future, ONDO could easily be headed to prices as high as $10 in the near term. This makes it a perfect cryptocurrency to invest in now that it trades under a dollar.

Pendle (PENDLE)

Pendle (PENDLE) is poised to benefit from the rising momentum around Chainlink’s recent real-world asset (RWA) advancements. Over the past week, PENDLE has shown signs of a bullish reversal, indicating increased buying interest. Pendle’s unique protocol allows for tokenizing and trading future yields, giving users more control and flexibility over their investments.

Swell L2 pre-launch rswETH is now live on Pendle @Ethereum 🌊

With this, YTs will be able to continue earning 4x @swellnetworkio Pearls, the usual EigenLayer Points, Staking/Restaking Yield, 𝒑𝒍𝒖𝒔:

🔹 Airdrops from Swell
🔹 Airdrops from projects on Swell L2 pic.twitter.com/SUyjtQe6Qd

— Pendle (@pendle_fi) May 16, 2024

By creating an innovative automated market maker (AMM) that supports assets with time decay, Pendle enables the efficient utilization of future yields. This functionality will become increasingly important as more assets become tokenized, offering investors new opportunities for yield management. The growing investor interest in RWA assets, spurred by Chainlink’s influential partnership with the Depository Trust and Clearing Corporation (DTCC), underscores Pendle’s potential.

This partnership highlights the broader trend of integrating blockchain technology into traditional finance, boosting the appeal of cryptocurrencies involved in asset tokenization. With its robust use case and the increasing market focus on RWAs, Pendle stands out as a promising investment. Its unique approach to yield tokenization and the current bullish sentiment make it an attractive option for short-term gains and long-term growth.

Dogecoin (DOGE)

Dogecoin (DOGE) has been making positive headlines lately, a factor that positions it for a price rally, especially now that the broader crypto market is bullish. One of the critical factors drawing investors to DOGE is its potential utility as a payment method.

Doge Foundation (@DogecoinFdn) unveils game changing #Gigawallet (https://t.co/A6kvARdz0j)

Much thanks @cryptoF0XXY ♥️ 👇https://t.co/hArSnyV5lI #Dogecoin pic.twitter.com/mMTAt9gVTK

— inevitable360 (@inevitable360) March 28, 2024

Over a month ago, the Doge developer team announced they had launched a wallet that can easily be integrated into any business system. More recently, Tesla officially added Dogecoin as one of the payment methods, further entrenching Dogecoin’s growing use case in payments. All these at a time when the market is showing signs of a rebound could see Dogecoin hit a high of $1 or more within the year.

Bitcoin (BTC)

Bitcoin (BTC) wraps up the list of the best crypto to buy today For weeks, Bitcoin has been trading at $60k, a price level investors increasingly agree is the bottom.

In the last few days, Bitcoin has bounced off this price level to its current trading price of $66k. With growing confidence that the bottom is in and the rising institutional and whale buying of Bitcoin, $70k or more within the weekend could be an achievable target. Bitcoin could be headed to $100k or higher in the long term.

✨ Exactly 1 year ago, Tether announces its plan to invest its profits into #Bitcoin

Today, they HODL 75,354 $BTC worth $5 billion, and are buying $600 million a quarter 🔥 pic.twitter.com/3R8PJSs4lH

— Rizzo (@pete_rizzo_) May 17, 2024