The crypto realm never sleeps. Even as Bitcoin and Ethereum dominate the headlines, new emerging cryptocurrencies are waiting for the wings, showing the potential to rise.
While market hype guarantees uncertainty, these altcoins show serious potential to disrupt blockchain and finance.
As we travel toward 2024, crypto traders and investors have their eyes peeled for the next big thing. So brace yourself for a sneak peek at the promising cryptocurrencies to watch as the market shapeshifts.
Whether you’re sourcing smart long plays or hunting the next hot crypto commodity, these leading altcoins can supercharge your portfolio.
10 Best Cryptocurrencies To Invest In 2024
Let’s take a look at the top 10 cryptocurrencies to watch in 2024.
1. Bitcoin (BTC)
Current Market Capital: $837.04 Billion
Bitcoin remains the king on the throne when it comes to the world of cryptocurrencies.
This coin remains one of the top 10 cryptocurrencies to look out for in 2024.
However, the recent fallouts in the U.S. banking system and other unfortunate events led to a bitcoin price crash from $69,000 to $18,000, losing over 70% of its value over the past two years.
Recently, there has been a surge in the price of Bitcoin. The crypto asset at the time of writing is reaching around $42,685.
The rally to a new year-to-date high has occurred as an outcome of the buzz surrounding a spot BTC exchange-traded fund (ETF), which has led to an upsurge of short liquidations, driving prices higher throughout the crypto market. Furthermore, a fueling event, Bitcoin halving-slated for the next year, could help Bitcoin break the consolidating pattern.
2. Ethereum (ETH)
Current Market Capital: $305.7 Billion
Ethereum is also another digital asset to keep in your portfolio come 2024.
In 2021, anticipation of the major Eth2 upgrades led to bullish price action, with Ethereum rising over 50%.
Currently, the digital asset is experiencing a significant increase surpassing $2,000, with a more than 11% increase in resistance level. This is due to the rising popularity of decentralized finance (DeFi) applications built on the ETH platform as well as the confirmation of the BlackRock ETF by Nasdaq.
The Ethereum 2.0 upgrade is also a key player in this surge. Additionally, regulatory decisions about cryptocurrencies could also influence Ethereum’s price in 2024.
Also Read: Which Would be a Better Investment in 2024: BTC or ETH?
3. Cardano (ADA)
Current Market Capital: $18.86 Billion
Billed as a “green” and sustainable smart contract platform, Cardano operates as a PoS blockchain platform to bring about positive global change.
The ADA token of the Cardano blockchain has gained over 150% since its crash in 2022. This was because investors bet on Cardano’s ability to challenge Ethereum as a leading smart contract platform.
Meanwhile, since November 2023, ADA witnessed another price surge of almost 75% to $0.59, which is the highest in about four months. Recently, the altcoin witnessed nearly 36% growth, which was boosted by the two-day Cardano Summit 2023.
The gains also constitute part of a broader market recovery that began on October 19, when Grayscale Investments resubmitted its Bitcoin ETF application to the Securities and Exchange Commission (SEC).
Also, its evidence-based development and peer-reviewed research could drive rapid growth through 2024. Currently, Cardano is trading at $0.6.
4. XRP
Current Market Capital: $30.9 Billion
XRP, the native token of Ripple, is also one of the tokens that have been making headlines this year.
In June, the XRP price skyrocketed by 96% after a federal judge favoured Ripple in the case against the SEC. The judge said that the selling of XRP tokens on exchanges did not constitute investment contracts. This was the highest XRP has gotten since March 2022.
Currently, the sixth largest cryptocurrency is leading the crypto market with a 10% surge targeting a $0.7 value. The rise in XRP is being ascribed to increased institutional interest as well as Ripple’s new licences to conduct business in Georgia and Dubai. Furthermore, the amassing of XRP by ‘whales,’ or huge holders, is thought to have influenced its price.
5. Solana (SOL)
Current Market Capital:$43.97 Billion
One digital asset that also made it to the list is Solana.
Although Solana’s price has been down since 2022, recently the token experienced an uptick due to DApp use and a few other factors.
Given the current bullish trend, SOL’s current futures financing rate indicates a 0.5% weekly cost for leveraged longs. However, this is a major change from the financing rate levels seen three weeks ago, when leverage shorts were being charged for leverage use.
6. Polygon (MATIC)
Current Market Capital: $8.04 Billion
Work on an Ethereum scaling solution has increased demand for Polygon’s MATIC token, up almost 24% in 2023.
Disney, Stripe, and Starbucks utilized Polygon for NFTs, payments, and web3 gaming.
Also, since October, Polygon has increased by 85% as a result of the positive momentum due to the Polygon 2.0 initiative. Also in October, Polygon launched an Ethereum contract for its new POL token to power the Polygon zkEVM layer-2 ecosystem. At the time of writing, Polygon is trading at $0.8407.
7. Chainlink (LINK)
Current Market Capital: $9.1 Billion
Based on Chainlink price variations at the start of 2023, crypto experts predict an average LINK rate of $14.84 in November 2023.
Which was pretty much right. ADA played in the range of $12.8 to $16.4.
On November 9, 2023, the LINK price increased by 15.87%, driven by investor optimism and high engagement with networks, which are driving the market. The price has pumped almost 5.38% in the past 24 hrs, trading at $15.99.
The approval of a spot Bitcoin ETF, increased curiosity in RWA tokenization, and will expand institutional usage, which is driving the LINK price surge.
8. Polkadot (DOT)
Current Market Capital: $9.4 Billion
Polkadot, a multi-chain platform that allows multiple blockchains to communicate with one another, is gaining traction.
With its parachain design, adaptability, and customization, it promises a better 2024.
Since October, Polkadot has witnessed a significant 127% price increase, surging to $8.54 per token. The token has over $10 billion market cap. Experts are predicting a 10x return for Polkadot (DOT) by February 2024.
Meanwhile, DigitalCoinPrice predicted that Polkadot crypto would sell at $10.09 this year before reaching $15.90 in 2025. The site then forecasted polkadot prices into 2030, estimating they may reach $50.44 that year.
9. Stellar (XLM)
Current Market Capital: $3.3 Billion
Stellar’s native XLM token has shown promise as a leading cryptocurrency going into 2024.
The payment-focused blockchain network was created in 2014 by Ripple co-founder Jed McCaleb. Stellar aims to provide fast, low-cost transactions between banks, payment systems, and individuals worldwide.
Buyers aggressively accumulated the Stellar (XLM) crypto, resulting in an astonishing 3000% surge in trading volume. This feat is attributed to Ripple Labs’ resounding victory in its legal battle against the Securities and Exchange Commission (SEC).
At the time of writing, Stellar is trading at $0.1176.
10. Shiba Inu (SHIB)
Current Market Capital: $5.6 Billion
Shiba Inu (SHIB) has emerged as one of the most popular meme-inspired cryptocurrencies, attracting a dedicated community of investors.
The dog-themed token runs on the Ethereum blockchain and aims to be an Ethereum-based alternative to Dogecoin.
As of January, Shiba Inu showed a promising increase of 55% since October and ranked 17th among cryptocurrencies by market capitalization.
At the time of writing, SHIB is trading at $0.000009553.
Conclusion:
In the ever-evolving world of cryptocurrencies, 2024 promises to be an exciting year with a host of promising altcoins on the horizon. While Bitcoin and Ethereum continue to dominate the headlines, the crypto space is no stranger to rapid changes and exciting developments.
As we look forward to 2024, these top 10 cryptocurrencies represent a diverse array of opportunities for traders and investors.
However, it’s essential to remember that the crypto market is highly volatile and speculative, so do your own research and caution is necessary when considering investments.
Stay informed, stay vigilant, and be prepared for the unexpected in this ever-exciting crypto journey.
