It was a quiet start to the week for global markets, with U.S. markets closed for Memorial Day, but cryptocurrencies still performed well, with most major currencies rising after pro-cryptocurrency comments from U.S. presidential candidate and former President Donald Trump last week, as traders looked for the best cryptocurrencies to buy now.

Following the unexpected approval of a spot Ethereum ETF by the U.S. Securities and Exchange Commission last week, Trump made further positive comments.

Bitcoin (BTC) hit a high of $70,600 earlier in the day and was last trading around $69,600, up 1.5%.

Meanwhile, Ethereum (ETH) last traded near $3,900, having previously traded near $4,000.

Traders will be watching for more information on a potential launch date for an Ethereum ETF in the U.S. this week.

Eyes will also be on U.S. core PCE inflation data due on Friday.

Recent U.S. macro data has eased concerns that the Federal Reserve will delay rate cuts until 2025.

Friday’s data is expected to show core PCE inflation slowed to 0.2% month-over-month from 0.3%.

This could further ease these concerns and bring more bullishness to the cryptocurrency market. Major currencies could soon retest yearly highs.

And Ethereum represents a potentially very good value opportunity right now.

Currently trading below $4,000, prices are still down around 25% from their 2021 all-time highs.

Even though Bitcoin has returned above its 2021 highs and the market has matured significantly, the approval of the ETF is a microcosm of this.

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Regulatory uncertainty could be a major factor holding back ETH’s growth, but last week’s ETF approval means all of that should be ironed out.

ETH could be set to chase to $5,000, which makes it the best cryptocurrency to buy right now.

However, some traders may be looking for smaller, less well-known, and higher-beta altcoins that could outperform.

Here are some of the cryptocurrencies that performed strongly on Monday and may be the best to buy right now.

The best cryptocurrencies to buy right now

Notcoin（NOT）

The crypto token of Notcoin (NOT), the recently launched viral money-making Telegram-based game, had a strong performance on Monday.

NOT has gained 55% in the past 24 hours and is now one of the top 100 cryptocurrencies, according to CoinMarketCap.

NOT’s market cap was most recently around $850 million, with a share price of around $0.008.

Notcoin’s market cap may not remain below $1 billion for long.

It is backed by the TON Foundation (NOT is issued on the TON blockchain). And already has a large user base.

The game attracted more than 5 million players in just the first week after its launch in January.

There is a high probability of NOT getting a 5x or 10x gain. That is why it is probably the best cryptocurrency to buy right now.

FLOKI

The Shiba Inu-themed emoji coin Floki has gained 22% in the past 24 hours, according to CoinMarketCap.

FLOKI’s latest rally will make bulls salivate. The meme coin has broken out of the northern part of a short-term uptrend channel.

This means that it will test the earlier yearly high above $0.00031 in the near term.

FLOKI currently has a market cap of $2.6 billion, but it could still potentially 5x that in this bull run. Therefore, it could potentially become the best cryptocurrency to buy right now.

Dog Hat (WIF)

Another Shiba Inu-inspired emoji coin, this one wearing a hat, dogwifhat (WIF) will also go live on Monday.

WIF is up 13% in the past 24 hours, back to $3.30.

The meme coin continues to rise within an ascending trend channel.

A retest of the May highs near $3.70 is likely soon. If the overall momentum in the market continues, a return to the all-time high of $4.86 is also possible in the short term.

Like Floki, WIF also has a smaller market cap of $3.35 billion. This leaves room for a 5x upside in this bull run.

WIF is another candidate for the best cryptocurrency to buy right now.