The Most Promising Cryptocurrencies of 2024

The bear market that started in 2022 is finally coming to an end. With Bitcoin reaching nearly $38k in the last few days, we have also seen the prices of other cryptocurrencies increase. What’s more, the Bitcoin halving to take place in April or May 2024 will likely trigger a generalized bull run. Traders and investors are excited about the imminent possibility of making significant profits. However, many wonder what cryptocurrencies have the largest potential to explode next year.

Although predicting the future price of a cryptocurrency with certainty is challenging, analysts have already compiled a list of the most promising cryptocurrencies of 2024. Some of these coins are leveraging new trends in the crypto world, like non-fungible tokens (NFTs), decentralized finance (DeFi), and artificial intelligence (AI). So, let us review next year's top ten of the most promising coins and tokens. Consider including several (or all of them!) in your investment portfolio in preparation for the next bull run. The data accompanying the description of each coin are for November 19, 2023.

1. Bitcoin (BTC)

Bitcoin is widely considered a safe crypto investment. It has endured several bear markets. In fact, after each prolonged period of poor performance, Bitcoin has consistently emerged with a much higher price. Hence, most investors consider this cryptocurrency a must in their portfolios. Moreover, an increasing number of institutional investors, such as corporations and hedge funds, have shown interest in this asset, contributing to its rapid re-appreciation. Although the Bitcoin price is more than double the low of nearly $15k in 2022, it is still a good moment to invest in this coin in anticipation of the bull run that might send the Bitcoin price to the moon.

Current Price: $36,575.30

Market Rank: #1

Market Capitalization: $714,969,970,122

Trading Volume (24h): $10,887,182,845

2. Ethereum (ETH)

Ethereum is the second largest cryptocurrency after Bitcoin. It is the leading platform for smart contracts, DeFi, and NFTs sectors. Ethereum is a reliable investment because of its long-standing presence and continuous development. The transition to Ethereum 2.0 provided this platform superior scalability and reduced transaction costs, attracting many more users.

Current Price: $1,968.40

Market Rank: #2

Market Capitalization: $236,732,559,616

Trading Volume (24h): $7,019,801,449

3. Solana (SOL)

Solana is a platform for the development of decentralized applications (dApps). Although newer than Ethereum, Solana has already positioned itself as one of the leading DeFi platforms with low transaction costs, high throughput, and superior scalability. The ultimate goal of the Solana platform is to make DeFi accessible on a large scale, attracting small-time traders and institutional traders alike.

Current Price: $60.00

Market Rank: #6

Market Capitalization: $25,385,233,555

Trading Volume (24h): $1,993,165,604

4. Chainlink (LINK)

Chainlink is a decentralized oracle allowing blockchains to securely interact with external data feeds and other sources of critical off-chain information for complex smart contracts. Leading smart contract platforms like Ethereum and Solana have adopted Chainlink because of its reliability and scalability. Chainlink relies on a large open-source community of data providers, node operators, smart contract developers, and more. Chainlink is often expected to have explosive growth in the future because of its crucial utility for the crypto industry.

Current Price: $14.20

Market Rank: #12

Market Capitalization: $7,899,066,644

Trading Volume (24h): $556,449,017

5. Polygon (MATIC)

Polygon is a Layer-2 scaling solution for Ethereum. It aims to enhance scalability and usability for dApps, contributing to the development of Ethereum infrastructure. Moreover, Polygon effectively transforms Ethereum into a multi-chain system, also known as an Internet of Blockchains (IoB). MATIC is the native token of this platform, an ERC-20 token for payments within the Polygon ecosystem.

Current Price: $0.8405

Market Rank: #13

Market Capitalization: $7,798,288,338

Trading Volume (24h): $406,568,592

6. Avalanche (AVAX)

Avalanche is a platform for dApps and custom blockchain networks that has become one of the most prominent Ethereum rivals because of its unique architecture, low fees, and high scalability. Avalanche aims to become the top smart contract platform. Moreover, it is improving interoperability with Ethereum through the development of bridges. With the DeFi sector poised to grow in the coming years, Avalanche is one of the most promising crypto investments for 2024 and beyond.

Current Price: $21.70

Market Rank: #14

Market Capitalization: $7,710,429,128

Trading Volume (24h): $624,580,897

7. VeChain (VET)

VeChain is an enterprise-grade smart contract platform aiming to solve significant data hurdles for various industries, including medical, energy, food & beverages, etc. This platform focuses on supply chain management and business processes. VeChain has a bright future because of its real-world solid use cases and partnerships with top enterprises. The VET token has a reputation for being a reliable and purpose-driven cryptocurrency, making it a promising investment in 2024.

Current Price: $0.02139

Market Rank: #41

Market Capitalization: $1,555,129,007

Trading Volume (24h): $29,361,357

8. Cosmos (ATOM)

Cosmos is a project aiming to build an ecosystem of connected blockchains to tackle some of the most complex problems in the blockchain industry. It offers a faster, cheaper, more scalable, and more environmentally friendly alternative to proof-of-work (PoW) blockchains. Additionally, Cosmos seeks to make blockchain technology less complex for developers. This platform also facilitates communication between dApps across different blockchains. Cosmos has an enormous potential for explosive growth in the coming years.

Current Price: $9.40

Market Rank: #23

Market Capitalization: $3,531,382,265

Trading Volume (24h): $109,501,754

9. Arbitrum (ARB)

Arbitrum is one of the leading Layer-2 scaling solutions for Ethereum. It focuses on improving speed and scalability while reducing costs. This platform achieves higher throughput than Ethereum because it moves most of the computation and storage load off-chain. Its ARB token is used for governance. ARB is also one of the most promising crypto assets for 2024.

Current Price: $1.05

Market Rank: #45

Market Capitalization: $1,336,666,706

Trading Volume (24h): $255,101,215

10. Shiba Inu (SHIB)

Shiba Inu was a meme-coin with little to no utility that rose to prominence during the 2020/21 rally following the success of Dogecoin. Since then, the Shiba Inu has significantly expanded. The ecosystem includes a proprietary decentralized exchange (DEX), ShibaSwap. The ecosystem’s primary token, SHIB, has increased adoption and is widely accepted as a form of payment at hundreds of locations. Several experts think that SHIB could experience an explosive resurge in 2024.

Current Price: $0.000008663

Market Rank: #19

Market Capitalization: $5,112,039,438

Trading Volume (24h): $108,539,750

Conclusion

The crypto market is finally recovering, and 2024 is poised to be an excellent year for cryptocurrencies. The April/May 2024 Bitcoin halving will likely trigger a new bull run. Well-established cryptocurrencies like Bitcoin and Ethereum are reliable investments that should be part of any crypto investor’s portfolio. However, the crypto market is vast and continuously evolving. Hence, new blockchain projects and emerging cryptocurrencies can represent lucrative investment opportunities. In this article, we have listed ten of the most promising cryptocurrencies for 2024. Nevertheless, many more opportunities exist for investors willing to venture beyond the mainstream. LetsExchange.io is the ideal platform to invest in those lucrative opportunities since the platform lists nearly 3,900 coins and tokens.

Disclaimer

Please keep in mind that the above information is based exclusively on our observations and is provided for informational purposes only. It doesn’t constitute any kind of financial advice nor represents an official forecast. Cryptocurrency is a highly volatile asset, and you are investing in it at your own risk.