Best Cryptocurrencies to Buy Today, January 17 – Ethereum, Avalanche, Litecoin

Highlights:

• Ethereum has gained momentum due to the upcoming Pectra upgrade, which is expected to boost scalability and security.
• Avalanche has seen renewed adoption as active addresses, and new users hit levels that were last seen in 2021.
• Litecoin has surged due to the speculation of an ETF approval by the SEC.

The cryptocurrency market is showing recovery after a brief correction. The market cap has increased by 2.07% to $3.57 trillion. The 24-hour volume has increased 4.04% to $161.84 billion. The fear and greed index is at 57% in the neutral zone. Most of the top ten cryptocurrencies are trading in the green zone.

Bitcoin has reclaimed the $100,000 mark and continues to assert its dominance with a 56.3% share of the cryptocurrency market. BTC is currently trading at $101,496. Its 24-hour trading volume has increased 2.94% to $58.8 billion, and its market cap has gained 1.85% to $2.01 trillion. With just three days to Trump’s inauguration, these are the best cryptocurrencies to buy today.

Best Cryptocurrencies to Buy Today

1. Ethereum (ETH)

ETH is currently trading at $3,378, which represents a 0.06% increase over the last 24 hours. The market cap stands at $407.05 billion, which is a 0.07% increase in the past 24 hours. The trading volume has increased by 4.91% to $27.6 billion. ETH has increased 32.94% in the past year, making it one of the best cryptocurrencies to buy today.

ETH is showing resilience at $3,120, supported by its 200-day Exponential Moving Average (EMA). The RSI, around 48, indicates decreasing bearish pressure. The MACD suggests a bullish crossover may be imminent. These signals point to potential upward momentum. Key resistance levels to watch are $3,550 and $3,770. Breaking these levels could lead to a retest of the $4,093 high. Analysts predict a rally to $3600 in the near term.

Recent developments in the Ethereum ecosystem are boosting its price. Developers have confirmed that the Pectra upgrade will launch in mid-March. This decision follows months of preparation. They also highlighted some key milestones, such as the new client versions, which will launch by February 3, and the Sepolia Fork launching on February 12. The Holesky Fork is scheduled for February 19.

Pectra Upgrade Coming Soon 🔜 https://t.co/oz7DmEeZPJ pic.twitter.com/xlUDZcQbn0

— Yash Kamal Chaturvedi | Avarch (@YashKamalChatu1) January 17, 2025

The Pectra upgrade will improve scalability and security. It introduces account abstraction and enhances the Ethereum Virtual Machine. These changes will benefit Layer-2 solutions by increasing speed and efficiency.

2. Avalanche (AVAX)

AVAX is currently trading at around $41.30, showing a 7.32% increase in the past 24 hours. The coin has increased by 9.59% in the past week. Its trading volume has decreased 0.40% in the past 24 hours to $525.85 million. AVAX has gained 15.46% in the past one year.

Avalanche has seen a strong resurgence in network activity. Active and new address metrics have surged significantly. On December 15, 2024, active addresses reached 100,000 which is a level last seen in the bull market of 2021.

Is AVAX waking up?

Network activity had been waning until a notable uptick in December 2024, where metrics for both active and new addresses spiked dramatically.

Activity has remained robust since, even surpassing the highs of the 2021 bull market. This positions the @avax… pic.twitter.com/xiJNAS55z8

— IntoTheBlock (@intotheblock) January 16, 2025

The number of new addresses has also spiked, according to data from IntoTheBlock. On December 20, 2024, 15,000 new addresses were created which is a 300% increase from the average in November. This growth signals renewed interest and adoption of the AVAX network.

3. Litecoin (LTC)

LTC is currently trading at around $137.55, with a 16.66% increase in the past day. Its trading volume has increased by 71.92% to $2.83 billion. The coin has increased by 98.18% in the past one year.

Litecoin is experiencing renewed optimism driven by speculation about a Litecoin-based exchange-traded fund (ETF). Canary Capital filed an S-1 registration form with the SEC on January 15

This amendment filing suggests an active review and has sparked hope for potential approval. Bloomberg ETF analysts view this development as a positive signal. They believe Litecoin may soon join Bitcoin and Ethereum in securing a spot ETF.