When you’re looking for the trending stocks and cryptos to buy now, choosing the right buying options is challenging despite the many available choices.

Fortunately, some hot trending stocks and cryptos to buy now are worth considering because of their consistent performance.

The world of stocks and cryptos is volatile right now. In the case of cryptos, regulation is the most pressing matter. For stocks, the Fed’s consistent rate hikes are dominating headline spaces. As a result, it is important to remain cautious.

One way to find viral stocks and cryptos right now is to look for buzzworthy ones. Strong fundamentals often back these popular stocks and cryptos to watch and can potentially deliver significant returns over the long term.

When it comes to purchasing trending stocks and cryptocurrencies, there are several essential factors to keep in mind. These include market trends, industry developments and company-specific news that can affect their performance.

Keeping abreast of the latest market developments and trends can help you pinpoint trending stocks and cryptos to buy now.

This list prioritizes choosing cryptocurrencies with distinct use cases, and it includes only one stock pick that offers an indirect way to invest in the crypto space. It suits investors who do not wish to invest directly in the space.

Nvidia (NVDA)

2023 has been a positive year for growth stock investors, with Nvidia (NASDAQ:NVDA) leading the charge.

However, some investors are still in the red, with the semiconductor leader’s shares trading at a double-digit discount from their all-time high of 333.36. Here are two reasons why the recovery might not be over yet.

First, Nvidia’s strong economic moat ensures temporary downturns do not destroy its long-term thesis.

Although the company faced macroeconomic challenges in 2022, leading to a 21% drop in Q4 revenue to $6.05 billion, Nvidia still controls over 80% of the discrete GPU market and maintains its lead through technological innovation.

Second, artificial intelligence is a transformational opportunity that Nvidia is well-positioned to capture.

Nvidia has a sound position in the $100 billion AI market. By some certain estimates, the market will grow to almost $20 trillion by 2030. So, there is plenty of cash on the table.

New Street Research states that Nvidia dominates the market for GPUs advanced enough for machine learning, with a 95% market share. Nvidia’s data center business also benefits from this technology, allowing it to store and analyze large amounts of information for its enterprise clients.

In the realm of crypto, Nvidia provides the hardware to mine cryptocurrencies. In 2022, the business suffered massively because of the ongoing crypto winter. However, as cryptos regain steam, this side of the business will gain traction as well.

Nvidia’s impressive market share and its potential for growth in the booming AI market are noteworthy. However, its forward price-to-earnings (P/E) multiple of 167.53 suggests its success is already priced into its valuation.

While the company’s strong position in an advanced industry could lead to sustainable growth and profits, its high valuation may discourage investors who may have missed out on the opportunity.

Ethereum (ETH-USD)

Ethereum (ETH-USD), a mature and valuable cryptocurrency, has been on a roll in 2023, gaining over 60%. However, you may not be fully aware of all the happenings in this thriving ecosystem.

The Ethereum network will be enhanced by roll-ups, a scaling solution that speeds up transactions and reduces end-user fees. The proto-dank sharding upgrade is being tested and will go live in the second half of 2023.

It will potentially make transactions 40 to 100 times cheaper than regular Ethereum transactions. This could enable users to pay less than one-tenth of a cent for an Ethereum transaction in the future.

The Shanghai fork boosted token prices and laid the foundation for a more promising future for Ethereum owners. These improvements position Ethereum as a leader in the crypto industry and continue its tradition of pioneering new paths for others to follow.

Active Ethereum addresses can give insight into the network’s activity and demand for the cryptocurrency. Active addresses are unique addresses that send or receive transactions within a specific time frame.

Despite a downtrend from the 2021 market peak, recent months have seen substantial growth. More users on the Ethereum network increases the amount of ether burned, adding more deflationary pressure.

The combination of a new burn mechanism and increasing active addresses suggests that Ethereum’s price has yet to realize its full potential. Ethereum’s price surged to almost $4,900 without any burn mechanism while operating on the former proof-of-work methodology.

As Ethereum begins to reap the benefits of its deflationary features, the future is looking bright for this one.

Cardano (ADA-USD)

Cardano (ADA-USD), a cryptocurrency known for its sophistication, has been gaining attention in the market with a current token price of $0.36, up more than 50% since the start of the year.

The true game-changer for Cardano is the recent launch of a $100 million project development fund by the Cardano Foundation.

The EMURGO fund is designed to fuel innovation and growth in the Cardano ecosystem. It provides financial assistance to promising projects.

Managed by EMURGO Ventures and EMURGO Africa, this fund aims to help developers and entrepreneurs take advantage of Cardano’s sophisticated and multi-layered smart contract platform to create consumer-facing decentralized finance tools, online games, and other exciting projects.

Several Cardano-based projects are currently in progress with the support of the EMURGO fund. These projects promise to revolutionize the cryptocurrency industry and create new opportunities for growth and innovation. By investing in these initiatives, the Cardano Foundation plays a crucial role in keeping the ecosystem at the forefront of technological advancement.

In addition, Cardano’s team is also working on several new features to improve the cryptocurrency’s efficiency, security, and scalability. Hydra, an advanced scaling system, and Plutus, a smart contracts development platform, are among these features. These developments aim to enhance the overall performance of Cardano and make it a more robust platform for users.

On the publication date, Faizan Farooque did not hold (directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.