Four cryptocurrencies that could overtake Bitcoin and Ethereum in growth in 2024. Find out which cryptocurrencies to add to your watchlist for next year.
Key Points The cryptocurrency market is volatile, with Bitcoin and Ethereum facing significant price fluctuations and potential challenges.
The cryptocurrency industry is constantly changing as new entrants enter and established norms are tested. Bitcoin and Ethereum maintain their dominance in the crypto space, although many competitors are vying to take over. The main question for many is: Which cryptocurrency can overtake Bitcoin?
Moreover, the growth seen in the cryptocurrency market was largely driven by BlackRock's filing for a landmark Bitcoin ETF in June. This follows legal victories for XRP developer Ripple and crypto asset manager Greyscale against the US Securities and Exchange Commission (SEC). A possible liquidity squeeze emanating from FTX's upcoming financial unraveling, which could result in a trade worth $3.4 billion in digital assets from the floundering platform by the end of the year.
These cryptocurrencies promise significant potential and innovation, positioning themselves as strong competitors in the 2024 crypto space.
1. DOGE (Dogecoin)
Dogecoin has evolved significantly since it was created as a joke currency. It now occupies a prominent place in the world of digital currencies. With a market capitalization of $15 billion and a price increase of 67.846% since inception, DOGE's impact on the cryptocurrency world is palpable. As 2024 approaches, DOGE's expected growth trajectory implies it could be the next cryptocurrency to explode.
2. XRP (Ripple)
XRP stands out for its unique consensus mechanism, which emphasizes instant global payments. Despite the legal challenges it has faced, its recovery is supported by strategic partnerships with leading financial institutions. With the ambitious goal of leading the Internet of Value, XRP is moving toward a paradigm shift in global transactions, positioning itself as a leading participant in the crypto race.
3. AVAX (Avalanche)
AVAX stands out among the vast array of coins and tokens with its emphasis on scalability and speed, especially in the fast-growing DeFi sector. Its alliance with Amazon Web Services and its potential to change the DeFi landscape are significant points of interest. Showing a strong recovery in 2023, AVAX is positioned as a dominant entity in the cryptocurrency world.
4. TRX (Tron)
TRX's goal is to create a decentralized Internet that is different from its competitors. Its commendable throughput and scalability highlight its potential to rise to the top of the cryptographic hierarchy. With a focus on the decentralized web and revolutionizing content sharing, TRX is a cryptocurrency that demands close observation.
You need to understand that BTC and ETH are the leading coins of the market, they are stable, due to which they cannot give huge profits. Small coins do not have such stability, but they can bring many times more profit. The most important thing is to be careful.
