Investing your money in crypto can be a very profitable step if done wisely.
And when it comes to altcoins having a solid understanding of market potential is the key to success. The Forbes Advisor page has summarized the top 6 cryptos, especially altcoins, which are worth considering buying and which are predicted to rise in 2024.
What kind of crypto are there? Read more here!
Ethereum (ETH) – Market Cap: $352.864 Billion
Ethereum is one of the largest altcoins in the crypto market. Of the nearly $2.16 trillion representing the total market capitalization of over 20,000 crypto assets, more than 17% is held in ETH.
Also read: Ethereum Fees Drop to Lowest Level in 7 Months, What Happened?
Ethereum is a distributed computing network where users can use the blockchain to run dApps and host smart contracts .
Ethereum's critics point to the high fees for running transactions. However, ETH is here to stay with thousands of other apps and altcoins powered by its blockchain.
Solana (SOL) – Market Cap: $65.613 Billion
Solana is gaining popularity among crypto investors thanks to its ultra-fast transaction speeds and low fees. Solana is a blockchain platform that is highly focused on addressing the speed and scalability challenges faced by many existing blockchains.
On May 2, 2024, SOL surged around 10.12% in 24 hours, but BNB coin surpassed and secured a higher ranking among the top five cryptocurrencies as Solana dropped 8.85% in the last seven days.
SOL's surge took the digital asset to its highest point in two years, reaching levels last observed in April 2022 which was three months after the peak of the bull cycle in 2021, but fell slightly and landed in the fifth slot, with BNB regaining dominance shortly thereafter in March 4.
Dogecoin (DOGE) – Market Cap: $21.848 Billion
Dogecoin is a dog-inspired cryptocurrency and the original meme token. True to its fame, it has been one of the most volatile yet profitable investments .
On May 2, 2024, DOGE was up 4.56% in the last 24 hours and was trading at $0.1295.
Over the years, these meme coins have been criticized for offering small-scale real-world utility, a centralized holder base, and unlimited supply. However, it is difficult to argue with these criticisms; DOGE has seen gains in network usage over the past year, as it has gained approximately 65.35%.
Also read: Tesla Accepts Dogecoin as a Payment Method, DOGE Price Soars!
Plus, it's hard to deny the support of a giant community with endorsements from well-known celebrities in the industry like Elon Musk . I think this crypto will last for a long time.
Cosmos (ATOM) – Market Cap: $3.220 Billion
Cosmos ATOM3.41%->Current ATOM PriceRp. 135,4993.41%Market CapIDR 52.75 TrillionTrading VolumesIDR 3.09 TrillionCirculating SupplyIDR 390,688,369responsible for resolving some slow transactions and high fee issues. This project emerged with Tendermint (software) to create an interconnected blockchain network.
ATOM -Cosmos' native token, is a decentralized network that provides open source tools for developers to create their own interoperable blockchains. Cosmos is working to become the “internet of blockchains”.
The Cosmos ecosystem allows blockchains to voluntarily share tokens and data across all blockchains in the system. One of its important roles is to secure the Cosmos Hub and manage the network of ATOM tokens earned through a proof-of-stake algorithm.
The latest report from the Cosmos blog focuses on the stability of Inter-Blockchain Communication (IBC) volumes and tight connections that guarantee high token diversity and, in turn, higher liquidity.
Also read: 5 Free Crypto Airdrops in May 2024: Grab the Opportunity to Get Digital Assets Without Capital!
The interchain ecosystem is an area where blockchains act as composite blocks communicating via the IBC protocol, where developers can run their rare chains as different blocks with different practicalities.
Kaspa (KAS) – Market Cap: $2.749 Billion
Kaspa cryptocurrency was launched in 2021 with the implementation of the GHOSTDAG protocol, working on blockDAG for fast confirmations and high block rates.
The Kaspa community projects it as a cryptocurrency that unlocks the blockchain trilemma that will stabilize security, speed, and scalability. In 2023, the project underwent transformational developments including a switch to a state-of-the-art ASIC miner.
Additionally, Kaspa has planned a listing on the exchange and launched ideas such as mobile wallet Kaspium and Wrapped Kaspa. The project has very ambitious plans for the future including advanced smart contract functionality, public Rusy Kaspa Testnet 11 and exceeding ten blocks per second.
Stellar (XLM) – Market Cap: $3.003 Billion
Stellar (XLM)is a decentralized public blockchain that gives developers the tools to create experiences that are more like cash than crypto.
Stellar's biggest goal is to make money move easily and quickly. This network is cheaper, faster, and more energy efficient than most blockchain-based systems.
Lumens acts as a mediator for transactions and keeps the system running smoothly. Its strength is its security. With XLM holders holding the keys, it makes the network more secure for transactions.
Stellar has recently launched some really awesome features like Soroban and deploying Lumens into positive projects through Community Funds.
⚠️Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.