Top 10 Cryptocurrencies to Invest In Right Away of 2024. Many cryptocurrency investors are asking whether they should sell now to prevent further losses or if the market will soon rebound given the continued uncertainty of the cryptocurrency markets.
Even though cryptocurrency markets have historically bounced back from downturns, there are always some “casualties” in every market that fail to fully recover. Picking high-quality crypto ventures that can weather the storm and thrive going forward is, thus, crucial. Based on several criteria, including tokenomics, sector leadership, technology, availability and liquidity, and more, we have evaluated 200 of the most prominent cryptocurrencies. Our standards are detailed further down in the piece. As a result, we have reduced the field of potential cryptocurrencies to twelve that offer the most promising prospects right now. To keep up with the latest news in the cryptocurrency and blockchain industries, we update our ranking of the top three coins every week. Our selection of the top cryptocurrencies for 2024 investment is as follows:
- Toncoin – Scalable blockchain with Telegram messenger integrations
- Bitcoin – Decentralized peer-to-peer cryptocurrency
- Stepn – The most popular “Move-to-Earn” app
- Ethereum – The leading blockchain for smart contracts
- Solana – High-performance blockchain platform for smart contracts
- XRP – Highly efficient digital currency
- Uniswap – The biggest DEX on Ethereum
- BNB – A popular cryptocurrency utilized in the Binance ecosystem
- Mina Protocol – An extremely lightweight blockchain
- Cosmos – A network of interoperable blockchains
- Litecoin – A cheaper and faster alternative to Bitcoin
- Shiba Inu – The second-largest meme coin on the market
Best Cryptos to Buy Right Now
To kick things off, we’ll take a look at three cryptocurrency projects that have been making waves as of late or that are about to host major events. To keep up with the ever-changing crypto and blockchain landscape, we update this list of featured coins weekly.
Keep in mind that choosing which cryptocurrency to purchase is just the beginning of your crypto investment adventure before we get into our top picks. In addition to deciding how you will store your cryptocurrency, picking the correct platform to purchase crypto is crucial. After purchasing cryptocurrency on an exchange, we recommend moving your money to a hardware wallet for optimal security. A Ledger hardware wallet is an excellent place to save cryptocurrency that you purchase on KuCoin.
1. Toncoin
The creators of the popular messaging app Telegram started work on a blockchain network, and the Toncoin project is carrying on their work. Members of the community recognized the promise of Telegram’s blockchain idea and continued work under the Toncoin brand after the company was forced to leave the project by U.S. securities regulators.
The TON Foundation, which is in charge of Toncoin’s development, is not officially affiliated with Telegram. Still, the folks over at Telegram are working on adding several features that use the Toncoin blockchain to their messaging app. One example is the integration of the TON Space wallet within the Telegram app. Toncoin is a decentralized digital currency that uses a Proof-of-Stake consensus algorithm and a scalable blockchain to facilitate smart contracts. But to make sure it was a fair launch, the first TON distribution was done via a Proof-of-Work approach.
Why Toncoin?
As part of its efforts to build the TON Blockchain ecosystem, the TON Foundation has partnered with HashKey Group, a digital assets and cryptocurrency exchange operator based in Hong Kong.
By working together, the TON Foundation and HashKey hope to ease the transition from fiat to TONcoin for users in the Asia-Pacific region of Telegram’s built-in wallet and to back early-stage projects using the TON Blockchain. This will streamline the process for both new and existing users to buy Toncoin or exchange it for fiat money. Regarding the collaboration with HashKey, TON Foundation president Steve Yun stated the following.
We are thrilled to expand our support for autonomous and powerful communities in the TON area through our strategic alliance with HashKey Group. We are excited to welcome TON’s next crop of mini-app developers, spearheaded by local companies who have already achieved viral success. In addition, Pavel Durov, CEO of Telegram, has hinted at big news that the TON Foundation plans to disclose at the Token 2049 conference in Dubai. On April 19, the gathering will take place.
2. Bitcoin
Described in 2008 and released in early 2009, Bitcoin is a decentralized peer-to-peer digital currency. Someone whose true name is unknown created Bitcoin under the pseudonym Satoshi Nakamoto.
Bitcoin is a completely decentralized digital money that is very safe; it also introduced the idea of a blockchain. It uses Proof-of-Work to make it extremely hard to change transaction histories or spend coins twice. Anywhere in the globe, at any time, you can send Bitcoin, and no middleman can stop a transaction. Users can avoid relying on third parties like banks to store their Bitcoin by keeping their private keys. There may have been a plethora of subsequent blockchain platforms and cryptocurrencies, but Bitcoin (BTC) remains, by far, the most valuable cryptocurrency.
Why Bitcoin?
Just a few days till the second Bitcoin halving, Bitcoin remains one of the most intriguing cryptocurrencies to watch. It is impossible to estimate the precise timing of the halving due to the fluctuation of Bitcoin block times; nonetheless, it is believed to occur on April 19 or 20, depending on the source. The halving will be implemented once the Bitcoin blockchain reaches its 840,000th block.
With Bitcoin’s impending halving, the block reward will drop from 6.25 BTC to 3.125 BTC. Expectations of a favourable market impact over the medium to long term are often generated by this slowdown in the rate at which miners add new Bitcoin to the market. Past halvings, however, have been accompanied by extremely unpredictable and violent price swings. Not only did Hong Kong approve Bitcoin ETFs (exchange-traded funds)—another recent bullish event for Bitcoin—but the halving as well.
Reuters reports that two asset management firms have verified receiving conditional approval to launch their ETF products from the securities regulator in Hong Kong.
It’s worth noting that the stock market and Bitcoin both experienced a surge in volatility over the weekend as a result of the increased geopolitical uncertainty generated by Iran’s strike on Israel. Bitcoin not only found support at the $62,000 price level, but it has successfully climbed back above $66,000.
3. Stepn
Use the STEPN app on your mobile device to track your steps, jog, or run and earn crypto tokens as a reward. Two tokens, GST and GMT, can be earned on STEPN. Although there is a daily cap, users can earn more tokens as they walk further.
The GST token is intended to serve as the principal reward and utility token within the STEPN ecosystem, and its supply is unlimited. It has multiple uses in the STEPN app, including minting NFT footwear, levelling them up, and unlocking features. Conversely, STEPN’s GMT token gives holders a voice in important ecosystem decisions and serves as the platform’s governance token. You need to have the STEPN app and a sneaker-themed NFT (non-fungible token) to earn prizes using it. Different types of movement can be accommodated by the wide range of NFT sneakers that are offered.
Why Stepn?
You can now purchase the project’s GMT tokens with STEPN airdrop points, which can be found in the STEPN marketplace. Those who have accumulated FSL points can trade them in for GMT at a rate of 1:1. The airdrop is worth approximately $26 million, with 100 million FSL points issued to users (GMT is selling at approximately $0.26 at the time of writing).
The fact that the initiative is hinting at a collaboration with “one of the world’s most famous sports brands” is just another reason to keep an eye on STEPN this week. An official Stepn account on X has announced that April 15th will be the date of the announcement. In the past, STEPN has partnered with brands including Asics and the Atlético de Madrid soccer team. Markets for GMT and GST, the two tokens used in the STEPN app, should be prepared for increased volatility, though, because of the collaboration. That is now being teased might be even more significant.
4. Ethereum
Smart contracts, which are built into the Ethereum blockchain, allow for more advanced use cases like decentralized lending protocols and non-fungible tokens. In late 2013, Vitalik Buterin released the Ethereum whitepaper, which formally launched the Ethereum project. In July 2015, the Ethereum blockchain went live.
Issuing bespoke tokens for use in transactions on the Ethereum blockchain was one of the first use cases made possible by Ethereum that garnered significant attention. Numerous projects used this function to sell tokens in Initial Coin Offerings (ICOs) and similar fundraising events.
We believe that Ethereum will be a profitable investment in 2023 due to its robust ecosystem of decentralized applications, which includes, among other things, decentralized financial services, NFT markets, publishing platforms, and decentralized coin exchanges.
The Ethereum token, or ETH, is a native asset of the blockchain that encourages users to keep the network secure. Originally using a Proof-of-Work consensus process, the Ethereum network transitioned to a Proof-of-Stake mechanism in September 2022.
Why Ethereum?
A tokenized fund built on the Ethereum blockchain has been launched by asset management firm BlackRock. Securitization is the mechanism via which investors can have access to the fund known as BUIDL (BlackRock USD Institutional Digital Liquidity).
Every month, BUIDL will provide fresh tokens to investors’ wallets as a dividend. To keep the token value at $1. Investors can earn yield just by holding the token on the blockchain, as the Fund invests all of its assets in cash, U.S. Treasury notes, and repurchase agreements.
Since it was found to be associated with BlackRock’s fund, the address has seen a surge in transactions, however, they seem to be spam aimed at promoting low-cap altcoins and meme coins. Since being financed with $100 million USDC, the wallet has not executed any transactions that involve the transfer of funds.
Regarding the debut of the new tokenized fund, here is what Robert Mitchnick, head of digital assets at BlackRock, had to say:
We are proud to announce the most recent development in our digital assets strategy. Together with Securitize, we will continue to innovate digital asset solutions that address our clients’ pressing needs.
5. Solana
Solana is an innovative smart contract platform that can execute thousands of transactions/per second at an incredibly cheap cost because of its unique architecture. To do this, Solana uses a Proof-of-Stake consensus method in conjunction with its one-of-a-kind Proof-of-History algorithm. Users often pay less than $0.001 per transaction while transferring SOL, making it one of the most inexpensive cryptocurrencies available.
In 2018, Anatoly Yakovenko established Solana. The platform’s main net went live in March 2020, and 2021 was a banner year for adoption. Even though Solana’s value has taken a major hit during the 2022 bear market. The ecosystem surrounding cryptocurrency is still among the most remarkable.
Why Solana?
Meme token bull market speculation has recently centred on the Solana blockchain due to the platform’s inexpensive fees and simplified user experience, attracting many users. The meme token fever began with Dogwifhat and Bonk, two tokens that showed enormous price increases. Which other meme tokens are now trying to imitate.
The daily trading volume on decentralized exchanges located in Solana almost reached $3.8 billion last Friday, according to data from DeFi Llama. Search interest for the term “Solana” is currently at an all-time high, according to data from Google Trends. In response to this increased activity, the price of SOL has risen 39.3 per cent in the past week, breaking $200 for the first time since December 2021. SOL has surpassed BNB to become the fourth most valuable cryptocurrency.
6. XRP
One cryptocurrency that came out in 2012 is XRP. The XRP creators generously donated 80% of the total supply to the company. Ripple, formerly known as OpenCoin, has rebranded itself and placed most of its XRP holdings in escrow.
Use cases like remittances are well-suited to XRP because of its quick and cheap transfers. It employs the XRP Ledger Consensus Protocol rather than Proof-of-Work or Proof-of-Stake. The XRP network allows each user to select a group of validators they believe will act ethically.
One of Ripple’s solutions, On-Demand Liquidity (ODL), uses the cryptocurrency XRP. To facilitate quick and easy international money transfers, ODL collaborates with cryptocurrency exchanges and uses XRP.
Why XRP?
The US-based financial technology company Ripple, a major participant in the XRP Ledger ecosystem, has declared the creation of a new stablecoin linked to the dollar that will be available on both the XRP Ledger and Ethereum platforms. Full backing of the stablecoin will be provided by USD deposits, (short-term) US government treasuries, and other cash equivalents, following the old approach.
Ripple plans to show that the stablecoin is fully backed by publishing monthly attestations completed by a third-party accounting firm. This will boost transparency.
A USD-backed stablecoin on the XRP Ledger platform will be a “game-changer” for consumers and developers, according to David Schwartz, Ripple’s CTO and one of the original architects of the project. The stablecoin has the potential to increase liquidity on the XRP Ledger’s decentralized exchange and bring new uses for the XRP Ledger platform. Both of which might be good for XRP’s value as an asset.
7. BNB
In 2017, the Binance cryptocurrency exchange introduced a new token called BNB. Reduced trading costs, participation in Binance’s Launchpad and Launchpool programs, rebates on Binance Visa card purchases, and other perks are available to token holders when using Binance.
Additionally, the BNB Chain blockchain uses the token as its original asset. BNB Chain is an Ethereum fork that facilitates the rapid deployment of decentralized apps compatible with the Ethereum Virtual Machine (EVM) and has far cheaper transaction costs for customers. There has been a major rebranding of BNB, which was previously known as Binance Coin.
Why BNB?
Three separate Launchpool projects have been announced in rapid succession by the Binance cryptocurrency exchange, indicating that the platform is having a good run. The exchange launched the Sleepless AI project’s Launchpool initiative on December 27, the most recent news.
The news about Launchpool has greatly increased the demand for BNB since. It is the only cryptocurrency asset other than stablecoins that can be staked in the pool. Compared to the US dollar, BNB has gained 38.5% as of this writing.
Through Binance Launchpool, users can stake their BNB for tokens in future blockchain projects. The BNB can be unstacked whenever desired, allowing users to gain fresh tokens with little risk (by holding stablecoins or BNB during the staking period).
It would be wise to keep an eye on Binance in the coming days to see. If they announce any new Launchpool or Launchpad programs. The price of BNB might rise again if they do this.
8. Uniswap
The AMM (automatic market maker) methodology was promoted and implemented by Uniswap, a decentralized bitcoin exchange. With this innovative architecture, order books are superfluous; instead, users may effortlessly exchange tokens directly on the blockchain, bypassing any middlemen.
Due to the decentralized nature of the Uniswap protocol, anybody can establish liquidity pools for any given coin. Because of this, Uniswap is a good place to buy and sell new crypto assets before they hit the main cryptocurrency exchanges. More and more decentralized exchanges on various blockchain platforms are following Uniswap’s lead. When looking at trading volume, though, Uniswap is still far and away the most active decentralized exchange.
Owners of the UNI token have the power to propose changes to Uniswap and cast votes on them. After being delivered to Uniswap protocol users via airdrop in 2020. UNI is presently for sale on numerous controlled and decentralized exchanges.
Why Uniswap?
A proposal has been put forward by the Uniswap Foundation to utilize the protocol’s fee mechanism to compensate UNI token holders for staking and delegating their tokens. To encourage “active, engaged and thoughtful delegation” as part of the Uniswap governance process, the proposal states that this adjustment will be implemented.
Stakeholders and delegates of UNI tokens would then get an equal distribution of these fees. A little over an hour following the plan’s publication, the price of UNI soared from $7.16 to $12.27, a 71% increase, indicating that the market viewed the idea favourably. The price of UNI has dropped since then. But as of this writing, the token is still trading at $10.56, a considerable premium to its value before the jump.
9. Mina Protocol
One such project is Mina Protocol, which is developing an incredibly lightweight blockchain. The Mina blockchain never exceeds 22 kilobytes in size because of zero-knowledge technology. Users may demonstrate data ownership without revealing the data itself thanks to zero-knowledge proofs. This allows users quick access to real-world data.
Why the Mina Protocol?
Mina Protocol may be in a prime position to capitalize on zero-knowledge technology. Which is shaping up to be a major trend in the cryptocurrency and blockchain industries.
Furthermore, the Mina Blockchain’s compact design facilitates network participation, particularly on mobile devices. Given this, Mina has all the makings of a cryptocurrency that could see explosive growth shortly.
10. Cosmos
The goal of the Cosmos network is to facilitate communication across various blockchain systems. The Proof-of-Stake blockchain known as the Cosmos Hub coordinates the entire Cosmos network. The Cosmos Hub can also connect to other blockchains, including Bitcoin and Ethereum, that aren’t part of the Cosmos ecosystem. The inter-blockchain communication protocol is what allows the several blockchains that comprise Cosmos to talk to each other. Cosmos blockchains have lightning-fast transaction speeds (about 7 seconds) and incredibly cheap transaction costs (around $0.01 for each transaction). All thanks to its powerful Proof-of-Stake consensus mechanism.
Staking ATOM tokens helps strengthen the network’s defences and gives users rewards, including a cut of the network’s transaction fees.
Why Cosmos?
The Cosmos community has approved a proposal to cap the inflation rate of the ATOM token at 10%. Once enacted, the proposal will reduce the amount of new ATOM tokens entering circulation. However, it will also reduce the APR of staking ATOM tokens from about 19% to roughly 13.4%.
According to the proposal, research indicated that the Cosmos Hub blockchain is currently overpaying for its security. The proposal also argues that reducing the inflation of ATOM could have a positive influence on decentralized finance protocols. And money markets in the Cosmos ecosystem. The vote was quite contentious, as the “Yes” option received 41.1% of the vote. The “No” option received 31.9% of the vote, the “Veto” option received 6.6%. And the remaining 20.4% of the votes were for the “Abstain” option. Interestingly enough, this proposal saw the highest voter turnout in the history of the Cosmos ecosystem.