Best Crypto to Buy Now October 12 – Frax Share, GALA, Cronos
New data released Thursday showed U.S. inflation remained elevated in September, sending Bitcoin and other cryptocurrencies modestly lower.
The Consumer Price Index, which tracks costs for household goods and services, rose 0.4% last month, according to the Bureau of Labor Statistics. While that marked a slowdown from the 0.6% increase in August, it exceeded economist estimates.
With the latest CPI numbers in mind, what is the best crypto to buy now?
On an annual basis, prices were up 3.7% in September compared to a year earlier. That’s down from a recent peak of 9.1% in June but well above the Federal Reserve’s 2% target.
Following the report, Bitcoin is falling 0.60% to $26,713, according to TradingView. Meanwhile, Ethereum is dipping by a more significant 1.39% so far today to $1,545.
The drops mirrored a pullback across the broader crypto market amid concerns that persistent inflation will keep the Fed on an aggressive path of interest rate hikes
Thursday’s CPI report comes a month before the Fed’s next policy meeting. Another interest rate hike is widely expected at the December gathering.
Despite September's concerning inflation data, the cryptocurrency market still offers ample buying opportunities.
Frax Share, TG.Casino, GALA, yPredict, and Cronos are asserting themselves as the best crypto to buy now thanks to their strong fundamentals and/or favorable technical analysis.
The Frax Share (FXS) price is showing impressive resilience so far today, bucking the overall bearish sentiment in the cryptocurrency market. FXS is currently in its third consecutive day of gains, up 7.25% so far today. This momentum signals growing enthusiasm among investors for the FXS token.
The FXS price retested the 100-day EMA of $5.849 earlier
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