After becoming the recipient of the largest accidental transaction fee in Bitcoin history last week, the F2Pool mining pool showed integrity by returning the 19.82108632 bitcoin, valued at around $510,000, to the Paxos exchange.
On Sunday, September 10, Paxos attempted to transfer 0.074 bitcoin, worth around $2,000. However, due to a bug, the transaction fee ended up being 19 bitcoin, equivalent to approximately $510,00.
Based on the current status of the cryptocurrency market, what is the best crypto to buy now?
The inflated transaction fee was received by the mining pool F2Pool. As reported by on-chain data provider Mempool, F2Pool returned the 19.82108632 BTC overpayment back to Paxos after the company took responsibility for the error.
Paxos acknowledged the mistake resulted from a software glitch in a single transfer, which has now been fixed. The company reassured customers that the inflated fee only impacted Paxos’ corporate operations and that customer funds were never at risk.
After analyzing the incident, Jameson Lopp, co-founder of crypto security company CasaHODL, speculated that the mistake likely originated from faulty change output calculations by the exchange or payment processor.
Initially, some speculated PayPal may have been involved due to similarities with past transaction patterns. However, Paxos declined to confirm or deny any relation to PayPal.
The co-founder of F2Pool, Chun Wang, stated that Paxos could claim the overpayment within three days, otherwise, the funds would be redistributed to F2Pool’s miners. This decision aimed to address unclaimed fees fairly.
By returning the mistakenly sent bitcoin, F2Pool helped Paxos recover from a very costly transaction error.
This event serves not only as a reminder to cryptocurrency exchanges but also to everyone, emphasizing the need for caution when executing transactions on the Bitcoin blockchain.
Building on its 3-day winning streak, Bitcoin is gaining by 0.68% so far today to trade at $26,712. This rise has allowed it to move beyond the Fib 0.786 level at $26,285, finding support near the 20-day EMA of $26,237.
As Bitcoin maintains its ascent, other cryptos like THORChain, Wall Street Memes, Bitcoin Cash, Bitcoin BSC, and Bitcoin SV are also gaining momentum. Given their solid fundamentals and positive technical trends, these are arguably the best crypto to buy now.
THORChain (RUNE) Price Surges Amid Bullish Technical Indicators
The RUNE price has been on a steady uptrend recently, making it the fourth consecutive day in the green. The crypto has risen by a substantial 10% over the past week, and today alone it is experiencing an 8.17% surge, now trading at $1.774.
Looking at the technical indicators, the 20-day EMA is at $1.550, which is convincingly above the current RUNE price. This suggests a robust bullish trend in the short term.
Additionally, the 50-day and 100-day EMAs are at $1.415 and $1.311 respectively, reinforcing the longer-term bullish sentiment.
The bullish trend is also confirmed by the RSI, which has risen to 66.71 from yesterday. An RSI above 50 typically indicates that the cryptocurrency is in a bull market.
The MACD histogram, another vital signal, has ticked up to 0.006 from yesterday, signaling a potential bullish crossover.
The surge in RUNE price has not been without substantial support. The market cap has risen by 7.23% to $597.6 million, while trading volume over the past 24 hours has increased by a staggering 44.79% to $83.3 million.
These figures suggest that the current breakout is backed by substantial volume, a positive sign for RUNE’s upward trajectory.
The technical analysis shows that RUNE is currently attempting to break out from a horizontal resistance level of $1.666 to $1.731 and the Fib 0.236 level of $1.765.
If the RUNE price manages to sustain above these levels, it could potentially challenge its YTD high of $2.029, which was posted on August 19.
On the flip side, the immediate support is at the Fib 0.382 level of $1.601. Should the RUNE price successfully break out from its current resistance levels, these areas could then act as potential support, with the Fib 0.236 level of $1.765 as the immediate one.
With positive technical indicators backing its price rise, RUNE presents a compelling case as a crypto to buy now.
Final Moments Before Going Public: What Makes WSM the Best Crypto to Buy Now
With its presale heating up in the final stretch, Wall Street Memes is on the radar of investors seeking the best crypto to buy now.
The presale countdown shows only less than 10 days left, which adds to the increasing interest in this meme coin.
Social media platforms are buzzing with conversations about Wall Street Memes, indicating a potential strong start once it launches to the public.
Market specialists predict that Wall Street Memes could soon rival well-known meme coins, possibly even outperforming Pepe in the near future.
The strong presale success of Wall Street Memes’ token presale validates the high demand for the project.
Having surpassed its $25 million target earlier than anticipated, Wall Street Memes is experiencing continued strong buyer interest even after the originally scheduled presale period.
Because of this high demand, Wall Street Memes decided to extend its presale, keeping the price at $0.0337 until it’s officially listed.
Those interested in buying Wall Street Memes tokens can do so using various payment methods such as Ethereum (ETH), Binance Coin (BNB), Tether (USDT), and even traditional bank cards.
This flexibility offers potential buyers a broad range of options to invest in what some are calling one of the best cryptocurrencies to buy now.
Many meme coins don’t offer much beyond market speculation, but Wall Street Memes is different.
It is supported by an active online community that has been involved in various social media platforms, primarily Twitter, since 2019.
This engaged following includes not just general users but also those interested in crypto investments.
The community focuses on creating memes that poke fun at capitalism, government policies, and investor behavior.
A large part of this active community consists of traders, business executives, and notably, cryptocurrency enthusiasts, as evidenced by the presale’s success.
Another feature that sets Wall Street Memes apart is its plan to provide community rewards. Nearly a third of the total token supply, 30% to be exact, is set aside for community rewards.
These rewards serve as an incentive for investors to hold onto their tokens, thus potentially stabilizing the token’s price in the long run.
The project is also offering a chance to win $10,000 worth of tokens for some lucky participants.
Lastly, the staking protocol recently introduced by Wall Street Memes allows token holders to earn an annual yield, currently at 61% according to their staking dashboard.
Wall Street Memes is showing promise as a meme coin with an active community and strong pre-launch financial backing, features that make it a noteworthy option among the best crypto to buy now.
Its official launch later this month is expected to attract significant attention across the cryptocurrency market.
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Bitcoin Cash (BCH): Overcoming Resistance Sets the Stage for New Highs
The BCH price is standing firm at $218, marking a significant 4.91% increase so far today.
This uptrend is noteworthy, especially as BCH wrestles with a challenging resistance zone that ranges from $205 to $215.8, in confluence with the Fib 0.5 level of $209.6.
BCH’s efforts to exceed this level might soon pay off. If it seals a close above this threshold, the existing resistance could transform into a supportive base, further solidifying its standing.
A glance at the EMAs reveals additional layers of support. The 20-day EMA is at $200.1, the 50-day EMA is at $205.7, and the 100-day EMA is at $199.1.
Given that the BCH price is trending above these EMAs, it may be creating a strong foundation to cushion any potential reversals.
The BCH price RSI is showing a promising signal. Currently at 61.17, rising from yesterday’s 55.40, it signifies a growing buying pressure. This could potentially put BCH in the spotlight as one of the best cryptocurrencies to buy for immediate-term investors.
The MACD histogram is also leaning towards a bullish sentiment. The metric has ascended to 3.1 from yesterday’s 2, underscoring an intensifying bullish momentum.
Looking ahead, if the BCH price successfully surpasses the current resistance and flips it into support, it will face the next hurdle in the $230 to $237.6 range.
This zone coincides with the Fib 0.382 level of $237.8. Overcoming this barrier could clear the path for the BCH price to explore new highs.
The BCH price is painting a positive picture backed by its technical indicators. The alignment of these indicators suggests that BCH could be preparing for a bullish run.
Investors should monitor these indicators and market trends attentively before concluding whether BCH is truly the best crypto to buy now.
Bitcoin BSC: Positioned for Success in the Upcoming Bitcoin Halving; Best Crypto to Buy Now
In 2011, if you had invested just $100 in Bitcoin, you could have seen its value grow to $3 million when the cryptocurrency hit a price of $30,000 earlier this year.
Now, there’s speculation around whether Bitcoin BSC, a new cryptocurrency operating on the BNB Smart Chain, could replicate this success.
Within less than two weeks of its presale, Bitcoin BSC has raised over $2 million and is inching closer to its target of $3.96 million.
With a presale price tag of just $0.99—roughly equivalent to Bitcoin’s 2011 value—Bitcoin BSC is catching the eye of potential investors, especially because of its built-in staking mechanism.
This feature allows buyers to earn a steady income, providing added financial security.
Bitcoin is holding its own despite the downturn that has affected many other cryptocurrencies and financial institutions.
Bitcoin BSC, which also has a supply limit of 21 million tokens similar to Bitcoin, operates on a proof-of-stake network.
This differentiating factor makes it more efficient and cost-effective than its more famous predecessor.
Here's some exciting news for you!
— Bitcoinbsc (@Bitcoinbsctoken) September 15, 2023
One of the standout features of Bitcoin BSC is staking, an integral part of its design. Currently, nearly half of all sold Bitcoin BSC tokens, totaling 1,066,361 $BTCBSC, have been staked, earning an annual percentage yield (APY) of 246%.
Usually, such high APY percentages might make investors cautious, but the project maintains transparency, allowing anyone to monitor staking activities in real time.
The smart contracts governing Bitcoin BSC have been audited for security, and the project’s team has assured locked liquidity upon listing on major cryptocurrency exchanges.
Unlike other complex financial models in the crypto space, Bitcoin BSC’s staking feature is built on transparent and solid foundations.
A significant 69% of the token supply has been allocated for staking rewards, which are paid out every 10 minutes, much like Bitcoin’s own block production schedule.
While Bitcoin has seen a drop in the last month, another Bitcoin variant, BTC20, has gained 14%, demonstrating that alternatives can sometimes outperform the original.
This highlights the increasing attention on cryptocurrencies like Bitcoin BSC, especially with the expected Bitcoin halving event in April 2024.
Past halving events have typically led to price surges, and Bitcoin BSC could be well-positioned to benefit from this cycle.
As the crypto market prepares for its next phase, Bitcoin BSC is attracting more attention as one of the best cryptocurrencies to buy now.
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Buyers Reemerge: Bitcoin SV (BSV) Price Aims for 50-day EMA
Despite the bearish alignment of its Exponential Moving Averages (EMAs), Bitcoin SV (BSV) has been showing promising signs of life. The BSV price has been on an upward trajectory over the last few days, indicating an attempt to bounce off its 20-day EMA support.
With the BSV price currently at $31.99, marking a 1.72% increase so far today, and the 20-day EMA at $31.09, traders should keep a close eye on these figures.
A sustained hold above the 20-day EMA could suggest that the buyers are back in action and the BSV price could aim for the 50-day EMA at $32.45. If the price can break this resistance, the next level in focus will be the 100-day EMA at $33.71.
BSV’s RSI rose to 53.41 from yesterday’s 50.55. This upward movement in the RSI suggests that the buying pressure is increasing, which could potentially lead to further price gains for BSV.
Additionally, the MACD histogram has increased to 0.28 from yesterday’s 0.21. This uptick in the MACD histogram could be an early signal of a bullish reversal, potentially making BSV one of the best cryptocurrencies to buy.
However, caution is advised. If BSV fails to sustain above the 20-day EMA, it could dip to the immediate support at the Fibonacci 0.786 level of $30.57. This would signify a potential short-term bearish signal, and traders should be prepared to adjust their strategies accordingly.
On the flip side, if BSV successfully retakes the resistance levels at the 50-day and 100-day EMAs, the next significant challenge could come from the horizontal resistance zone of $33.95 to $36.11.
This zone is in confluence with the Fib 0.618 level of $36.12, which could potentially act as a strong resistance.
While the EMAs continue to show a bearish alignment, the recent upward movement in the BSV price, coupled with positive changes in the RSI and MACD, suggests promising potential for Bitcoin SV.
Traders looking for the best crypto to buy should keep a keen eye on the BSV price in the coming days.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.