Best Crypto to Buy Today 2 March – FGHT, MKR, CCHG, CFX, TARO
On Thursday, the crypto market has experienced a significant downturn following signals of distress from Silvergate Capital, a prominent banker in the digital asset industry. Bitcoin's price has slipped by 1.99% in the past 24 hours, and is currently at $23,269.
The existential threat facing Silvergate, a federally insured US bank, poses a risk to the financial system and has fueled further calls for SEC crypto regulations. With such turmoil in the markets, what are the best crypto to buy today?
Silvergate has delayed filing its annual report to the Securities and Exchange Commission and recently sold securities at distressed prices to prevent a bank run. As a result, it recorded a loss of $1 billion in Q4. As a precautionary measure, Coinbase Global has ceased to make any payments to and from Silvergate.
This crisis at Silvergate has the potential to impact the crypto market heavily given the bank's role as a mediator for crucial transfers between exchanges and market makers. Many altcoins are the brunt of the slump, with Ethereum, Cardano, and Polygon dipping by 2.3%, 3.5%, and 3.8%, respectively.
Given the recent slump in the crypto market, it's important to evaluate both the fundamentals and technicals of cryptocurrencies when considering investment options. Based on such analysis, FGHT, MKR, CCHG, CFX, and TARO appears to be some of the best crypto to buy today.
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