It seems like the bad news from the crypto front may not have an ending in sight yet. The latest update coming from the United States is that the Department of Justice has been cleared to sell approximately 69,370 Bitcoin it seized from the Silk Road darknet marketplace.
Valued at approximately $6.5 billion at present, this could have an adverse impact on the BTC price, which is already reeling from the impact of losing the $100k support level.
*DOJ CLEARED TO SELL $6.5B IN SEIZED SILK ROAD BITCOIN: OFFICIAL
— db (@tier10k) January 9, 2025
US DOJ Cleared To Sell Bitcoin
The contention over the ownership of the Bitcoin investments was a long time coming. However, the order for the sale of Bitcoin came on December 30th, after Battle Born Investments, a group that earlier had claimed ownership of the surrendered Bitcoin, failed to delay this sale.
The group is not happy with this decision, alleging that the Department of Justice resorted to “procedural trickery” to avoid scrutiny. The DOJ, on the other hand, argued that the current volatile state of the market makes it the right time for the seized Bitcoins to be sold off.
From these statements, it has been made clear that this mass selling of Bitcoin is a matter of “when” and not a matter of “if.” As a result, there is potential for the BTC price to go down further, which means certain altcoins could be the best crypto to buy right now.
4 Best Cryptos to Buy Now – Bitcoin Alternatives
As uncertainty rises around the crypto space due to the current ecosystem, the following altcoins can be considered the best altcoins to invest in.
Wall Street Pepe
Since meme coins have long proven not to follow traditional market fundamentals, Wall Street Pepe can be considered one of the best cryptos to buy right now. A blend of two memes—Wall Street Bets and Pepe—the Wall Street Pepe project has a comedic charm that it uses to highlight its altruistic mission of making the meme coin market more inclusive.
It aims to create a new narrative where retail investors can benefit from meme coin surges by becoming more informed. For this purpose, it has created the WEPE Army. The WEPE Army is a community in which users can learn about the best-performing meme coins and gain market insights.
Additionally, it acts as a place to grab the best crypto signals and join community events to earn more crypto. This community-centric appeal has allowed Wall Street Pepe to raise over $44 million during its presale.
99Bitcoins, a prominent YouTube channel with over 706K subscribers, has even discussed the token’s 10x potential. The project’s social media is buzzing with memes, and a community of degens looking to become early movers are choosing Wall Street Pepe as their first pick.
Catslap
Staying close to the meme coin narrative, another meme coin that is shaping up to be one of the best cryptos to buy in this bearish scenario is Catslap. Capitalizing on the popular cat slap meme, this cat-themed meme coin has garnered a lot of attention due to its quirky Slap-to-Earn mechanic.
Accessible to all who visit the website, this Play-to-Earn mechanic features clicking the screen to watch a cat slap various memes. The memes appear based on seasons, and currently, Donald Trump, Kamala Harris, Pepe, and Chris Rock are featured.
Beyond its comedic style, the slap meme has also been integrated with a burning mechanic. This involves counting the total number of slaps and then burning a proportional number of Catslap tokens. So, even if Bitcoin’s price goes down, Catslap’s burning mechanic will allow this meme coin to stay afloat by leveraging supply-demand dynamics.
Catslap can be purchased from leading decentralized exchanges, such as Raydium. Those seeking a centralized exchange can buy SLAP token on MEXC.
Best Wallet Token
Best Wallet Token is another cryptocurrency that could be among the best cryptos to buy right now. This token powers Best Wallet, a multi-chain and multi-utility cryptocurrency wallet with features that can outcompete even some leading cryptocurrency exchanges.
In addition to a standard swapping module and a robust crypto storage system, Best Wallet also offers high-yield staking opportunities. Users will also find perks such as Upcoming Tokens, which essentially allows them to discover tokens on presale before they go live to the public.
These use cases are further enhanced with the aid of BEST tokens. Holders can gain early access to the best projects and enjoy lower transaction fees. Higher yield staking opportunities will also be made available for this token.
Unlike many experimental assets, the BEST token is already tied to an active project, which is why the trust factor around it is already high, drawing more people towards its unique offerings. This project has raised upwards of $6.7 million so far, and the BEST token airdrop is also attracting a lot of attention.
Earn $BEST, one airdrop quest at a time! ?
Make every move count. From checking in to completing tasks, the Best Wallet airdrop gives you the chance to earn tokens while exploring the features you’ll love.
Start Now! ? https://t.co/he5kzra7TY pic.twitter.com/ifLU2gHhUF
— Best Wallet (@BestWalletHQ) January 7, 2025
Those interested in this project can visit the official website today at bestwallettoken.com.
Cobak Token
While the market is going through a downturn, a review of the top trending cryptos on Coinmarketcap reveals that certain low-cap offerings are generating significant buzz. Cobak Token is among them, having experienced a surge of more than 103% since last week.
Cobak Token (CBK) is a blockchain-based social media platform that provides precise crypto analytics to the public. It features a dual token ecosystem, which can be used to write content related to crypto on this platform. The recent surge in the token’s value followed an update that allows users to leverage hashtags and schedule their posts.
? New Feature Alert on Cobak! ?
On January 13th (Mon), Cobak is introducing exciting updates to make posting easier and more powerful!? What’s New?
1. Add hashtags to organize posts and reach more users.
2. Link related coins and view their tickers directly!
3. Schedule… pic.twitter.com/yH9GegoOq4— Cobak (@CobakOfficial) January 9, 2025
Although the project’s regional nature may limit its widespread appeal, it could be a good buy from an investment perspective. More attention could be drawn to this project in 2025, potentially leading to further price increases.
The token is currently trading around the $1.5 level, and its market capitalization is around $140 million.
Summary
While the recent news about the DOJ’s plan to sell off $6.5 billion worth of Bitcoin has led to concerns about the crypto space, there are altcoins showing promise as traders hunt for the best crypto to buy now in case BTC continues to dip.
This article has highlighted the top four among them. Two of them are available on presale, one is a cat-theme meme using a unique perk, and the last one is a low-cap crypto making rounds as a trending crypto.