As some crypto projects stand out for their innovative use cases, strong communities, and growth potential, let’s take a closer look at the top 10 cryptocurrencies to watch in 2024:
Bitcoin (BTC)
You can never go wrong by investing in Bitcoin (BTC). Bitcoin has a proven track record and is the highest market capitalization investment in the cryptocurrency market, making it a relatively stable investment for both beginners and experienced investors.
In addition, many people view Bitcoin as digital gold and a hedge against inflation and economic instability. More and more institutional investors and financial institutions have adopted Bitcoin through Bitcoin spot exchange-traded funds (ETFs).
Ethereum (ETH)
With an Ethereum spot ETF application recently filed and expected to be approved soon, Ethereum (ETH) may become a more attractive option for investors seeking exposure to cryptocurrencies through a regulated product.
Ethereum is the second-largest cryptocurrency by market cap and a leading platform for decentralized finance (DeFi).
Additionally, investors believe that Ethereum’s price has room to rise significantly, especially with the upcoming upgrade to Ethereum 2.0, which is designed to solve scalability issues and increase transaction speeds.
Binance Coin (BNB)
We all know that the Binance cryptocurrency exchange has been criticized by regulators around the world for its lax compliance practices. These include issues with Know Your Customer (KYC) procedures and Anti-Money Laundering (AML) controls.
Additionally, in November 2023, it was reported that former Binance CEO Changpeng Zhao (CZ) pleaded guilty to failing to take required anti-money laundering measures and agreed to pay $4.3 billion to settle the charges.
All of these issues have been resolved, and BNB remains a top 4 token by market cap, showing strength in the face of adversity. In addition, with a new CEO at the helm of Binance, the company is shifting to a stronger focus on regulatory compliance.
Solana (SOL)
After several network outages in the past, Solana has seen improved stability this year. Additionally, investor interest in the project is high, and the growth of the Solana ecosystem of DeFi platforms and other projects is also driving its adoption.
Solana has also received significant interest from venture capital (VC) firms and institutional investors, and this support brings a sense of legitimacy and stability that affects its ranking and may drive future growth.
Ripple (XRP)
Ripple Labs, the company behind XRP, provides a payment processing network designed for financial institutions. The community behind Ripple and XRP believes that the technology has value and could be widely adopted in the future.
Despite the current SEC lawsuit against Ripple Labs, the XRP token has maintained a sizable market cap, indicating continued investor interest. Additionally, Ripple Labs has established partnerships with numerous financial institutions around the world. If XRP wins the lawsuit, these partnerships could also lead to its widespread adoption.
Avalanche (AVAX)
Ava Labs, the company behind Avalanche (AVAX), has partnerships with major companies in the financial and crypto industries. These partners include Mastercard, Deloitte, and Amazon Web Services (AWS), making it a top project worth including in your crypto portfolio.
Avalanche aims to be a faster, cheaper, and more scalable alternative to Ethereum. Notably, the project has spawned a growing ecosystem of decentralized applications (dApps) built on top of it, attracting developers and users looking for a smoother blockchain experience.
Rendering Network (RNDR)
The Decentralized Physical Infrastructure Network (DePIN) sector is expected to add $10 trillion to global GDP over the next decade, so you should look for a DePIN project with long-term growth potential.
The Rendering Network (RNDR) is a multi-narrative project that connects owners of idle GPU computing power with users who need it. GPU power is used for a wide variety of tasks, from basic artist rendering to AI applications, and contributors are then compensated in $RNDR tokens.
Projects like Render Network can be an alternative decentralized solution to more expensive, centralized options like Amazon Web Services (AWS) and Google Cloud.
Tongcoin (TON)
The Open Network (TON) is taking over Telegram and aims to create a super app, similar to what Elon Musk is currently trying to do with X (formerly known as Twitter), by combining social media with payments, but through a decentralized structure.
Telegram even gave TON its stamp of approval, declaring it the blockchain of choice. Telegram has over 900 million monthly active users, which is a huge advantage for TON, which can attract all of these users faster than any other blockchain.
Ondo Financial (ONDO)
Tokenization is not just a popular narrative or a new hot trend; it is the future as everything is currently shifting towards tokenized systems.
It is worth noting that Ondo Finance (ONDO) recently hit the tokenized market with a tokenized treasury size of $1.5 billion. However, Ondo Finance does not control all of this, but their total locked value (TVL) has just reached $500 million, which is quite optimistic.
Overall, we are talking about a project with 1/4 of its liquidity locked up, and investors are very excited about this!
Artificial Intelligence Super Alliance (ASI)
As the field of artificial intelligence (AI) continues to grow, Nvidia continues to exceed market expectations. Most investors even believe that Nvidia will become the top company in the world with a market value of $5 trillion, and the crypto AI field is expected to follow this path.
Therefore, investing in AI cryptocurrencies is a wise choice for investors. However, the ASI token is yet to be released as we are still waiting for SingularityNET (AGIX), Fetch.AI (FET), and Ocean Protocol (OCEAN) to merge sometime this year.
