Cryptocurrency enthusiasts are always looking for the next big thing in the crypto world in terms of tokens and coins. This year has shown an immense recovery in the prices of cryptocurrencies. Majority of the crypto coins were recovering from major fallouts through 2023, and as the year is folding, they are now trading at greed.
With the crypto market continuously evolving, many investors or crypto enthusiasts are on the watch out for cryptocurrencies to invest in the coming year 2024. Here’s a list of the top cryptocurrencies to invest in 2024.
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Bitcoin (BTC)
Market Capitalization: $853.88 billion
Bitcoin is the most expensive and popular crypto in the world. It is characterized by maximum liquidity. As BTC is the first crypto and its importance for the industry can be compared to the US dollar’s role in the economic sphere, as such it is always a major cryptocurrency for investors to watch. Let us see BTC levels in the past few months:
September: $25,748
October: $27,946
November: $35,047
December: $43,694
As you can see, BTC prices are quickly climbing. Coincodex data predicts Bitcoin could witness significant gains in 2024. The site additionally forecasts it to go as high as $109,364 levels. Note that it’s just a prediction and can be inaccurate.
Ethereum (ETH)
Market Capitalization: $270.61 billion
Ethereum is notoriously unpredictable and volatile just like any other cryptocurrency. However, momentum currently is positive and there are many reasons for investors to believe ETH price to continue to trend higher in 2024. The main reason is its utility, unlike BTC which is primarily used as a value store and means of value transfer, the ETH blockchain network has a rare utility for dApp developers. They use the ETH network to develop other cryptocurrencies and create and run smart contracts, non-fungible tokens and other decentralized finance applications. Let us see SOL levels in the past few months:
September: $1,632
October: $1,645
November: $1,900
December: $2,254
ETH has shown a steep rise in the past few months. Even if Ethereum is trading at one or two thousand dollars, analysts at VanEck use estimates of total ETH network revenue to make long-term price predictions. They forecast ETH network revenue to climb from $2.6 billion today to roughly $51 billion by 2030. So, Ethereum should be on your list of cryptos to invest in 2024.
Solana (SOL)
Market Capitalization: $26.63 billion
The Solana project serves to support DeFi (decentralized finance) solutions and provide opportunities for creating smart contracts and dApps. With the help of it, developers can make faster networks without compromising security. Mostly, the SOL token is needed to pay fees, make payments and earn income from staking. Let us see SOL levels in the past few months:
September: $19.62
October: $23.42
November: $42.14
December: $63.12
As you can see, Solana saw exponential growth in the latter half of the year going from $19.62 at the beginning of Sep. to $63.12 towards the beginning of Dec. Looking at the growth of SOL, this crypto can definitely be one of the top investments in 2024.
Ripple (XRP)
Market Capitalization: $33.93 billion
Ripple created the XRP token to help financial institutions make international payments without fees and faster. It can process 1,500 transactions every second, which means greater scalability as compared to other cryptos. Let us see XRP levels in the past few months:
September: $0.50
October: $0.52
November: $0.71
December: $0.64
As you can see, XRP has shown a rising sign. EGRAG CRYPTO an analyst noted the impressive results of XRP. He recalled the asset closed two consecutive months of green candles and claims to rise to $10 after a possibility of a five-month consolidation phase. It can soar to a huge $50 by Nov. 2024 if the uptrend continues.
Cardano (ADA)
Market Capitalization: $15.54 billion
Cardano is a special platform based on proof of stake (PoS). It is generally used to create various dApps (decentralized applications) based on smart contracts. The team developed the ADA token to support the project’s ecosystem. Investors can get it on crypto exchanges at $0.3815. After this, one can stake their coins and start cryptocurrency earnings. Let us see ADA levels in the past few months:
September: $0.25
October: $0.26
November: $0.36
December: $0.44
As you can see, ADA is growing and might grow in the remaining days of the year 2023. Analysts believe that within six months Cardano can overcome the $0.90 mark because of dApps growing on ADA, with total value locked growing from $50 million to $250 million last year.
Toncoin (TON)
Market Capitalization: $7.84 billion
The idea of creating Toncoin initially came from Telegram founder Pavel Durov, later it passed into the hands of other developers. It is an online decentralized platform that works on blockchain scalability and interoperability. Also, it can be used to organize payments and manage several million transactions every second. Let us see TON levels in the past few months:
September: $1.82
October: $2.14
November: $2.43
December: $2.27
As you can see, TON is growing and might grow in the remaining days of the year 2023. Even if we leave the last month of the year apart, from Jan. 2023 to Nov. 2023 TON rose by 12.5%. This makes it a possible crypto to invest in 2024 because of its steady growth.
