Investors are becoming increasingly greedy, which could lead to a surge in animal spirits in the crypto and stock markets. The closely watched fear and greed index has soared to the extreme greed zone of 78 as the S&P 500 and Nasdaq 100 have reached record highs. This article explores some of the best crypto to buy today for huge gains amid the greed.
Fear and Greed Index Has Surged
The general fear and greed index has moved to the extreme greed zone, much higher than the year-to-date low of less than 5. This index has soared as key sub-indices like the stock price strength, stock price strength, put and call options, junk bond demand, and safe-haven demand have soared to the extreme greed area.
This trend happened as investors have remained optimistic that the Federal Reserve will start cutting interest rates later this year. Stocks and crypto prices thrive when the Fed is slashing rates because it pushes investors away from bonds to risky assets.
The fear and greed index has also jumped because of the rising hopes that Donald Trump will reach trade agreements with more countries ahead of the July 7 deadline.
Best Crypto to Buy Ahead of the Altcoin Season
The ongoing fear and greed index may trigger the altcoin season. Some of the best tokens to buy are Bitcoin Pepe (BPEP), Aave (AAVE), and Spark (SPK).
Aave (AAVE)
AAVE is one of the best crypto to buy because of its top fundamentals and technicals. It is the biggest player in the decentralized finance (DeFi) industry with over $26 billion in assets. It is a platform that lets users to deposit their tokens to earn returns, and others to borrow and pay reasonable interest rates.
AAVE price has strong technicals, as we wrote here. It has remained above the 50-day and 100-day moving averages and is between the 50% and 38.2% retracement level. A break above last month’s high of $323 will point to more gains, potentially to $500.
READ MORE: Dogecoin Price Prediction: Classical Pattern Points to a DOGE Surge
Spark
Spark, unlike AAVE, is a contrarian coin to buy because its price has crashed to a record low following its recent airdrop. It moved to a low of $0.03, down from a record high of $0.06.
SPK’s crash has brought its market capitalization to just $29 million, a small figure since Spark is the fifth biggest player in decentralized finance after AAVE, Lido, EigenLayer, and EtherFi, with over $6.26 billion in assets.
Spark’s platform enables users to deposit stablecoins like USDS and USD Coin and generate returns. Its network generates about $166,000 in fees each day, a figure that is growing.
Bitcoin Pepe (BPEP)
Bitcoin Pepe is another top crypto to buy this year as the fear and greed index surges to the extreme greed area. It is a good buy because it is disrupting at least two fast-growing industries.
First, Bitcoin Pepe is disrupting the layer-2 industry by launching one focused on Bitcoin. Layer-2 networks like Base and Arbitrum have become some of the biggest chains in the crypto industry.
Second, it is aiming to be the main chain for meme coins. Data shows that meme coins are worth over $60 billion, a figure that will continue growing. While they don’t have any utility, these tokens have proven to have staying power.
Further, Bitcoin Pepe will have a decentralized exchange focused on these tokens. These macro themes explain why it has raised over $16.2 million, a figure that will keep rising ahead of the airdrop. Learn more about Bitcoin Pepe here.
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