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Top Cryptocurrencies to Watch

If you’re looking for the top cryptocurrencies to watch in 2024, you’ve come to the right place. After extensive research, we found top crypto assets with the potential for high return. In this guide, we’ll list and review several crypto project to keep your eyes on, we’ll also talk about the factors that could make these tokens explode in 2024. They were all vetted thoroughly so that you, the reader, can easily review them and take your pick.

Cryptocurrencies to Watch in 2024

Here is our top pick for the best cryptos worth keeping an eye on. These were picked by our team of crypto experts after a thorough analysis of hundreds of the most popular cryptos.

  1. Bitcoin (BTC) – Overall Best Crypto to Watch This Yea
  2. Solana (SOL) – Most Undervalued Crypto Worth Buying Right No
  3. Ethereum (ETH) – The Most Promising Crypto to Buy and Hol
  4. Ordinals (ORDI) – A Revolutionary Bitcoin Based Crypto with a Promising Futur
  5. Ripple (XRP) – The next 100x Crypto
  6. Binance Coin (BNB) – Popular Crypto Backed by a Fast Growing Blockchain Ecosyste
  7. Dogecoin (DOGE) – The Best Meme coin to Watch Right No
  8. Uniswap (UNI) – The Best DeFi Crypto to Invest in Right No
  9. Aptos (APT) – Possible Solana Killer With Massive Potential
  10. DogWifHat (WIF) – The Most Popular Meme coin on Solana Networ
  11. Optimism (OP) – One of the Most Promising Layer-2 Cryptos to Buy Toda
  12. Bonk (BONK) – The Next Meme coin to Explode
  13. Decentraland (MANA) – Highly Undervalued Metaverse Token with a Huge Potentia
  14. Litecoin (LTC) – The Most Undervalued Payment Token to Buy Now
  15. ApeCoin (APE) – The Best NFT Crypto to Buy Right Now
  16. Cardano (ADA) – Undervalued Ethereum Killer With one of the Fastest Growing Blockchain Networks
  17. Maker (MKR) – One of the Most Undervalued DeFi Coins Worth Buying
  18. Shiba Inu (SHIB) – The Most Lucrative Crypto Investment of All Time
  19. Pancakeswap (CAKE) – The Best Decentralized Exchange on the Binance Ecosystem
  20. Polygon (MATIC) – The Most Valuable Layer-2 Protocol Ethereum Blockchain

A Closer Look at the Top Cryptos to Watch

When looking for the top cryptos to watch today, you will want to consider a number of factors. These start with its fundamentals and possible sustainability. You also consider its past price action, expected future performance, resilience, and reaction to changing market trends.

Here is an overview of the most popular cryptocurrencies to watch during this bull cycle.

1. Bitcoin (BTC) – Overall Best Crypto to Watch This Year

When considering the top cryptocurrencies to watch today, Bitcoin emerges as a top contender. Early on in January 2024, the SEC-US approved 11 Bitcoin ETFs. This opened the floodgates for the inflow of institutional cash into the crypto industry. This, together with the anticipation of a Bitcoin halving that took place in April, saw BTC set a new all time high price above $73,750.

Bitcoin Price Chart

By the end of this bull market, optimistic investors and analysts expect Bitcoin to have broken above $200,000. Among the factors expected to drive this value gain is a rallying market. So will the coming in of investor funds from Mainland China after approval of Bitcoin ETFs in Hong Kong. Not forgetting with the push by banks in the US to act as crypto custodians.

Such a move would mean that BTC’s current value will grow by 300%+. This, and its safety and resilience guarantee, make Bitcoin the most popular crypto to watch right now.

Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.

Read More: Jack Dorsey predicts Bitcoin price will reach $1 million by 2030

2. Solana (SOL) – Most Undervalued Crypto Worth Buying Right Now

Whether you’re looking for new cryptocurrencies to watch or more established digital projects, Solana is a viable option.

Solana, unlike Bitcoin, is yet to recapture the $260 all-time high set in November 2021. It, however, has recorded some of the biggest gains of the top 10 cryptos over the last year. Remember that by December 2022, SOL had lost more than 97% of its peak value. Today, it the altcoin is on a steady recovery and less than 45% below the 2021 highs.

Solana Price Chart

However, we still believe it to be one of the most undervalued cryptos to buy out there. Our conviction is based on the level of developer and investor activity taking place in the Solana ecosystem. For example, it is currently home to some of the most popular meme coins of the season. It is also home to ultra-popular play-to-earn games like Atlas. Not forgetting that it updated its delegates program to address the downtime problem.

More importantly, Solana is expected to be the next 10x crypto – with a peak price of $1000+ this bull run. This will be driven largely by the recovering crypto market. But we also bank on increased investor confidence in the potent Ethereum killer. These recognize that the biggest problems holding Solana down – FTX collapse and downtime – are way behind the crypto project today.

Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.

3. Ethereum (ETH) – The Most Promising Crypto to Buy and Hold

Ethereum is one of the top cryptocurrencies to watch in 2024 as we expect it to be one of the biggest beneficiaries of the upcoming crypto bull market. Some optimists, like Cake Group CEO Julian Hosp, are on record saying they expect ETH to peak at around $11,111 by the end of 2024. Such a move would translate to a 350%+ gain for ETH over the next six months.

Note that An Ethereum ETF was recently approved in Hong Kong. In the US, the deadlines for approving or rejecting ETH ETFs fall due before the end of the year. Approvals in the US would see ETH follow Bitcoin’s trend and jump to a new all-time high. So would a Bitcoin ETF and halving fueled crypto market bull run.

Outside of the bull run, several other core factors are expected to power Ethereum’s journey to setting a new ATH. This starts with the fact that it hasn’t priced in the many developments that took place in its ecosystem throughout the bear period. These include The Merge and Dencun upgrades in September 2022 and March 2024.

Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.

4. Ordinals (ORDI) – A Revolutionary Bitcoin Based Crypto with a Promising Future

The next top crypto to watch in 2024 is  Ordinals. It is a relatively new cryptos that came to be in early 2023.

The coins are native to the Bitcoin Ordinals protocol that followed the Taproot upgrade in late 2021. This allows for the imprinting of pieces of data on individual Bitcoin Satoshis. The imprints are referred to as inscriptions and are similar to NFTS. You are right to argue that inscriptions are to Bitcoin blockchain what NFTs are to Ethereum.

ORDI Price Chart

We list it among the best cryptocurrencies to watch today because it has been on a sustained uptrend. It is also resilient and obedient to crypto market trends. The resilience is evidenced by the fact that it survived the 2022/2023 bear market. And when the market started showing signs of recovery in late 2023, Ordinals rallied by more than 3200% between September 2022 and March 2023.

Having launched at the height of the bear market, ORDI is yet to set a true all-time high. It also has solid fundamentals and healthy tokenomics. Note that there are 2.1 quadrillion Satoshis in existence but only 21 million ORDI tokens. Inscriptions are also more secure and better stores of data than NFTs. The demand for Inscriptions is thus expected to propel ORDI token’s price to unimaginable heights.

5. Ripple (XRP) – The next 100x Crypto

Ripple (and by extension Stellar) is the only top 100 crypto that is yet to a set new price record since 2018. The reason for this is that it was embroiled in a protracted legal battle with the SEC in US courts. It emerged victorious in 2018 and made significant value gains soon after. We, however, recognize that the win was ill timed as it happened at the heart of a crypto bear market.

XRP Price Chart

Therefore, Ripple couldn’t recapture the $3.84 all-time high set in January 2018. The crypto is stepping into 2024 ready for an aggressive rebound. This will be fueled by more than a rallying market. It will also be triggered by the Ripple network’s rapid expansion and community support. It will also rely on XRP’s resilience and hugely promising future.

At the time of writing, Ripple has onboarded 100+ banks, hedge funds, and financial institutions to its Ripple network. It has also been partnered with 10+ governments and central banks that are building CBDCs on Ripple Ledger. These, and its solid tokenomics, have us convinced that Ripple is the next 100x crypto.

Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.

6. Binance Coin (BNB) – Popular Crypto Backed by a Fast Growing Blockchain Ecosystem

Binance Coin is the native token for the Binance Smart Chain and utility token for the Binance Exchange. In too took a hit during the 2022-2023 bear market and even lost close to 70% of its 2021 peak value. Its woes were, however, exacerbated by the legal battles against in the US. Both Binance.US and its CEO were sued by DOJ and the SEC.

Binance Coin Price Chart

The exchange eventually settled with the DOJ for more than $4.3 Billion. The SEC case, however, saw former Binance CEO – Changpeng Zhao ‘CZ’ – sentenced to a four months jail term. The cases and the negative press surround them resulted in mass withdrawal of cryptos from Bitcoins. In November 2023 in particular, more than $1 Billion was removed from the exchange in under 24 hours.

The uncertainty about Binance’s future, given these cases, undermined investor confidence in the altcoin. It even saw Binance miss out on the small BTC-ETF-inspired market rally. Today, the exchange has proved its resilience. It has also started rallying again and is expected to make a full recovery before the end of the year. This makes it one of the top cryptocurrencies to watch in 2024.

Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.

7. Dogecoin (DOGE) – The Best Meme coin to Watch Right Now

A few factors make Dogecoin the most popular meme coin to watch right now. For starters, it has been one of the best performing joke currencies of all time. By the time it peaked in May 2011, for example, it was trading more than 350000% above its introductory price. It is also one of the most resilient meme coins, having been around since 2013 and surviving all the crypto market volatilities.

Dogecoin Price Chart

DOGE is also the best meme coin because it has a solid backing of a large and vibrant online community. The more than 6 million Doge army consists of celebrities, crypto influencers, entrepreneurs, and retail investors. Some, like Elon Musk, have consistently played a key role in boosting Dogecoin’s popularity and price.

Two more reasons that make Dogecoin the best crypto buy right now. For starters, the meme coin is grossly undervalued – currently trading more than 80% below its all-time high. Secondly, it is a speculative token. It thrives on hype. The upcoming bull market is expected to generate a lot of hype and the two should send DOGE price to unprecedented heights.

Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.

8. Uniswap (UNI) – The Best DeFi Crypto to Invest in Right Now

Uniswap is arguably the most popular and most valuable decentralized exchanges. It was created to provide an alternative to the costly and centralized crypto exchanges like Binance and Coinbase. It has gained popularity over the past and even processed crypto trades worth more than $1.5 Trillion.

Uniswap Price Chart

As regulators, like SEC, continue targeting centralized exchanges like Binance, we expect investors to turn to DEXs. Further, it has already been adopted by more than 300 crypto dApps and DeFi projects. All these have played a vital role in helping UNI maintain a position among the top 30 most valuable cryptos.

We consider it the best DeFi crypto to buy today because, at 85% below its all-time high, it is grossly undervalued. It is also hugely resilient and has survived multiple crypto market crashes. But even more importantly, UNI is obedient to changing market trends. We, therefore, expect it to start rebounding, recapture 2021 highs, and possibly set a new all-time high. This potential places UNI as one of the top altcoins to watch in 2024.

Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.

9. Aptos (APT) – Possible Solana Killer With Massive Potential

Aptos is yet another relatively new crypto worth watching this year as it is expected to be one of the best future cryptos. It was launched in late 2022 and is already hailed as the ultimate Solana Killer. The smart contract platform was designed to solve the downtime and security concerns that were challenging Solana at the time.

Aptos Price Chart

Aptos become especially popular in March 2023 when it emerged that Aptos had the fastest transaction to finality speeds – less than a second. It would also go on to set a record for some of the highest transaction processing speeds, at more than 100k TPS. These, together with its solid fundamentals give it a highly processing future.

APT has also performed exceptionally well in the past. For example, it rallied by more than 200% in the first quarter of 2024. It also attempted several breakouts throughout the bear market, which speaks to its readiness to explode as soon as the market starts rallying. This makes it one of the next cryptos to explode worth adding to your portfolio.

Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.

10. DogWifHat (WIF) – The Most Popular Meme Coin on Solana Network

DogWifHat is arguably the most popular meme coin of this season. It is also the most valuable and most traded meme coin on the Solana network. Unlike most of the other joke coins that are mainly hosted on Ethereum, DogWifHat is a Solana-based crypto. It launched in December 2023 and already ranks high among the top 50 most valuable cryptos today. This sets DogWigHat to be one of the most prominent cryptocurrencies to watch in 2024.

dogwifhat Price Chart

WIF launched at the base of what is expected to be the most aggressive crypto bull run yet. And within three months, its value rallied by more than 2500% to help it break above $4.25. Much of this is thanks to the Bitcoin ETF approval hype that rocked the markets in early 2024.

It could also be attributed to the soaring popularity and investor attention towards Solana-based memes. It may as well have been due to the fact that WIF has healthier tokenomics than most other meme coins. There, for instance, will only ever exist 998 million WIF tokens. This is a huge deviation from the past when meme coins like SHIB had a circulating supply of 500+ trillion tokens.

Moving forward, we expect DogWifHat to sustain its current uptrending value gain. A rallying market and investor interest in meme coins should especially help grow its value tenfold by the end of the year.

11. Optimism (OP) – One of the Most Promising Layer-2 Cryptos to Buy Today

Optimism launched in June 2022 at the base of an extended bear market. This, however, didn’t prevent it from becoming the fastest-growing layer-2 protocol on the Ethereum blockchain. It is especially worth noting that at the moment, Optimsim has partnered with 300+ crypto brands and programs.

Optimism Price Chart

We must also observe that Optimism has healthy tokenomics with slightly over 4 million OP tokens. Of these, only 1 million are in circulation – giving it a low market cap of less than $3 Billion. This implies that there is sufficient room for future growth. Might we also add that OP has proved its resilience by defying the bear market to grow its ecosystem exponentially.

When the market started showing signs of recovery in the first quarter of 2024, OP rallied by more than 300%. This shows its readiness to erupt as soon as the bull run is confirmed.

12. Bonk (BONK) – The Next Meme Coin to Explode in 2024

Bonk is yet another popular meme coin hosted on the Solana ecosystem. It launched in late December 2022 and started trading on major exchanges in early 2023. It would go only to become of the best performing meme coins of 2023 and early 2024. By the time it peaked at around $0.000047 in March, BONK had an ROI of more than 52000%.

Bonk Price Chart

The joke currency’s popularity and trade volumes have been on a steady rise. BONK is also expected to be one of the best performing meme coins of this market cycle. This claim is made in recognition of its rapidly growing online community, recovering market, and its accommodatingly low market cap. By the end of this bull market, BONK is expected to have grown its current price by at least 20x.

13. Decentraland (MANA) – Highly Undervalued Metaverse Token with a Huge Potential

Decentraland is the oldest and arguably the most popular metaverse project. Its MANA tokens, which were launched in 2017, have performed well by maintaining an overall uptrending price action. They had their biggest break during the 2021 bull market when they rallied by more than 8500%. At the time of writing, though, the digital asset trades more than 90% below this all-time high.

Decentraland Price Chart

Historically, a few factors have had the biggest impact on MANA token prices. First is the changing crypto market trends. The token’s price rallies and falls in relation to changing market directions. Developments on Decentraland metaverse, as well as adoption by on- and off-chain brands, have also had a positive impact on MANA token prices.

Moving forward, we expect the upcoming bull market to trigger MANA’s rebound and race to a new price record. We also acknowledge that significant developments took place in the Decentraland ecosystem throughout the bear market. Therefore, we expect investors to rush to price in these developments, effectively spiking the demand and price of MANA tokens.

Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.

14. Litecoin (LTC) – The Most Undervalued Payment Token to Buy Now

Litecoin is viewed as Bitcoin’s oldest and most successful fork. The altcoin was created to make light of Bitcoin by facilitating faster and cost friendlier transactions. It performed exemplarily well but faltered in 2017 when its founder – Charlie Lee – liquidated his LTC holdings. The market interpreted this as a rug pull and LTC prices tanked.

Litecoin Price Chart

Lee first went to work as director of engineering for the Coinbase Exchange. Later on, he resigned from this position and went back to head the Litecoin Foundation. The shakeups explain the coin’s underwhelming performance during the 2021 bull market. LTC only extended its 2017 peak prices by less than $100 to peak around $412.

Why, then, do we list it among the most popular altcoins to watch today? Because it is more than 80% below 2021 highs, LTC is grossly undervalued. Further, it is no longer riddled with scandals, implying it has nothing weighty holding its prices down. By the end of this market cycle, optimistic forecasters expect Litecoin to have broken above $1000.

Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.

15. ApeCoin (APE) – The Best NFT Crypto to Buy Right Now

ApeCoin is a unique digital asset in that it is a utility token with meme coin traits. It is the native coin for the Otherside metaverse and the utility token for the all-popular BAYC and MAYC NFT projects. Like most of the new altcoins on this list, ApeCoin launched during the bear market. Therefore, ApeCoin has yet to set a true all-time high.

Apecoin Price Chart

APE token prices rallied by more than 500% immediately after launch to set the current ATH of $39. This signifies its readiness to explode and is backed by its solid fundamentals. These include a large and vibrant community of followers. A significant chunk of these are celebrities, renowned business magnates, and crypto influencers. It also has solid tokenomics, which, alongside its low market cap, has created enough room for 100x growth.

ApeCoin could be one of the next cryptocurrencies to watch because it is hugely undervalued. Note that it currently trades more than 95% below the 2022 highs. The revival of NFT, metaverse, or meme coin investment crazes should also catapult APE to unimaginable heights. So will a bull run, given its obedience to crypto market trends.

Read More: Apecoin Price Prediction 2024 – 2040

Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.

16. Cardano (ADA) – Undervalued Ethereum Killer With one of the Fastest Growing Blockchain Networks

Cardano is arguably the most undervalued crypto among the top 10 most valuable digital assets. Much of this can be attributed to its sluggish approach to integrating critical developments into its blockchain. It, for example, was the last of Ethereum killers to integrate the smart contract functionality – in September 2021.

Cardano Price Chart

We must, however, observe that Cardano has made significant strides to change this. It integrated numerous programs into its blockchain network throughout the 2022/2023 bear market. These include supporting DeFi, creation of dApps, and even the launch of stablecoins on its mainnet. Moving forward, ADA will be looking to price in these developments.

Today, Cardano trades more than 85% below its all-time high. But it has the backing of a large community of followers who have been instrumental in helping it maintains its position among the top 10 cryptos. Additionally, Cardano is ranked high up among the most secure blockchain networks out there. By leveraging these and the upcoming bull market, experts are confident ADA will easily break above $5 before 2025.

Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.

17. Maker (MKR) – One of the Most Undervalued DeFi Coins Worth Buying

MKR is the governance token for the MakerDAO and Maker Protocol. The Maker ecosystem, on the other hand, operates DAI – a popular stablecoin whose value is soft-pegged to the US Dollar. Launched in 2018, MKR has consistently ranked among the best DeFi coins to buy. Much of this can be attributed to its overall uptrending price action.

Maker Price Chart

We consider MKR undervalued, first, because it currently trades close to 60% below its 2021 highs. It is also undervalued because it is only trading at these price levels because of the prevailing market trends. DAI’s popularity and adoption have been rising steadily, and so has the total value of the DeFi market. Therefore, absent of the bear market, MKR should be uptrending and on the way to setting a new price record.

MKR’s readiness to explode came to light in early 2024 after the Bitcoin-ETF approval. Between January and March, it rallied by more than 300%. Moving forward, MKR is expected to sustain this explosive growth and possibly break above $50,000 before the end of this market rally. This makes it one of the most sustainable cryptos to buy and hold.

Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.

18. Shiba Inu (SHIB) – The Most Lucrative Crypto Investment of All Time

Shiba Inu holds the record for the most lucrative cryptocurrency of all time. It was set in 2021 when it rallied by as much as 85 million percent. We feature it here not because we expect it to post a similar value gain. Rather, it has made significant strides towards ensuring it records competitive value gains. These started with revolutionizing its ecosystem.

Shiba Inu Price Chart

Today, the top meme coin has integrated multiple crypto programs and projects into its ecosystem. These include a decentralized exchange, an NFT project, and more meme coins. Most recently, it even launched the Shibarium L2 blockchain protocol. The ecosystem has also been burning excess SHIB excessively. All these are aimed at reducing SHIB token supply while simultaneously increasing demand.

Meme coins have historically been some of the biggest beneficiaries of a crypto bull market. Shiba Inu is thus expected to post significant gains in this market cycle. We are especially banking on its large online community to create a lot of hype around the coin that drives up SHIB prices significantly. Shiba inu stands out as a top contender to watch in 2024.

Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.

19. Pancakeswap (CAKE) – The Best Decentralized Exchange on the Binance Ecosystem  

Pancakeswap is the most popular decentralized exchange on the Binance Smart Chain. It was created to rival Uniswap – the most valuable DEX on the Ethereum network. CAKE quickly turned into one of Binance ecosystem’s most successful DeFi project. It was thus integrated into more Binance product’s including the Trust Wallet mobile app.

PancakeSwap Price Chart

The success was primarily evidenced not just by the trading volume and tokens launched on the platform. It was also evidenced by CAKE token’s explosive value gain. Between January and May 2021, for example, CAKE prices appreciated by more than 8800% to set the current all-time high of $44. However, it lost this value as quickly in obedience to downtrending market direction.

Today, the altcoin traded more than 95% below the 2021 highs. Nonetheless, its community of supporters, the number of tokens, and trade volumes have only increased during the bear period. A recovering market should therefore catapult CAKE prices to new price records. Optimists expect CAKE to break above $100 this market cycles, making it one of the best next 100x cryptos to buy now.

20. Polygon (MATIC) – The Most Valuable Layer-2 Protocol Ethereum Blockchain

Polygon is the most popular layer-2 crypto on the Ethereum network. It is also the most valuable and has consistently ranked among the top 20 most valuable digital assets. It also has a history of stellar price action. By the time it peaked at around $2.92 in 2021, for example, MATIC was up more than 73000% above its IPO price.

Polygon Price Chart

Today, Polygon trades more than 75% below the 2021 highs. But this can only be attributed to the bear market occasioned price crash. Pessimists had predicted Polygon’s death upon The Merge. However, the transition’s impact on Ethereum’s speed and cost issues proved insignificant. It even cemented the need for layer 2s while the Dencum upgrade sought to optimize their effectiveness.

One of the reasons why MATIC is one of the top cryptocurrencies to watch is its upgrading to Polygon 2.0. This means more efficiency for the protocol and increased demand for POL tokens. Polygon’s adoption has also been gaining steam with popular on- and off-chain brands leveraging the protocol when building on Ethereum.

Is There a Difference Between Cryptos and Altcoins?

Reading through different posts and write-ups online, you must have noticed that the word crypto and altcoins have been used interchangeably. Generally, there isn’t a huge difference between the two terms. However, since Bitcoin is the original digital asset, it is referred to as the Crypto Coin. All other coins are considered Bitcoin alternatives, hence the name Alternative Coins – or altcoins.

At their core, though, both Bitcoin and the rest of the coins are cryptos. They are both built atop blockchain networks, and some even complement Bitcoin as a cash alternative. Altcoins can, however, be further classified according to their core functions.

Related: Best Altcoin Exchanges Today

Major Types of Altcoins to Watch

Stablecoins

A stablecoin refers to a crypto with a stable value. Unlike all other types of digital currencies, the value of the stablecoin doesn’t fluctuate in relation to demand or supply. Its value may be pegged on fiat currencies like USD, EUR, GBP, AUD, or more. It may also be pegged on precious metals like gold. Examples of stablecoins are USDT, USDC, and BUSD. These facilitate transactions and serve as a store of value.

Meme Coins

Meme coins are also referred to as joke currencies. These cryptos are fashioned around popular memes and jokes. The two most popular meme coins to watch closely – Dogecoin and Shiba Inu – are, for example, fashioned around a popular meme of a Shiba Inu dog. They are wildly volatile and are primarily used for speculative investing.

Utility Tokens

A utility token is any kind of virtual currency that facilitates transactions on a specific blockchain network. It is used to access a particular product or service hosted within a crypto ecosystem. Unlike traditional cryptos, it isn’t intended as a form of investment. A good example is the Binance Coin (BNB), which is used to pay for transaction fees on the Binance Exchange.

Payment Tokens

These can be viewed as the true altcoins as they complement Bitcoin in serving as a medium of exchange. These have no significant role outside of facilitating payments for goods and services and transfer of value. Like Bitcoin, they are designed to provide a faster, safer, and cost-friendlier option to traditional payment methods.

Governance Tokens

A governance token gives you the right to participate in the decision-making process of a blockchain. It gives you the right to come up with proposals and vote on other proposals affecting the operation of a blockchain. These give you the power to influence the future direction of a blockchain network. An example of a governance token is MKR – the native token for the Maker DAO of the DAI Stablecoin.

Most Common Uses of Cryptocurrencies?

Crypto was originally designed to provide a means of payment that was free from the control of financial elites and governments. Satoshi Nakamoto’s whitepaper even described Bitcoin as “a peer-to-peer electronic cash system.” In addition to serving as a medium of payment, cryptos have been largely adopted as an investment. And as we have already mentioned they have outperformed all other asset classes.

However, other than facilitating payments and acting as investments, cryptos have several other uses. Here are the most impactful:

  • Store of value: Cryptos like Bitcoin have proved to a better store of value than gold, cash, or treasuries. This made possible by the fact that it is more resilient, scarce, and its value is on a sustained overall uptrend.
  • Cross-border payments: Cryptos can also be used to facilitate cross-border payments/remittances. The process is faster, cost-friendly, and less bureaucratic. When sending crypto across borders, you do not need a middleman or paperwork.
  • Banking the unbanked: Crypto is also designed to help extend financial services to the unbanked and underbanked. Cryptos help facilitate the transfer of money, while digital wallets serve as their virtual bank accounts.
  • Hedge against inflation: The value of most cryptos grows faster than the rate of inflation. The same cannot be said for such other financial assets like cash, stocks, and treasuries.
  • Crowdfunding and donations: Crypto has also been used to crowdfund small businesses and startups. Individuals and even countries like Ukraine have also raised significant funds through crypto donations.

How to Find the Cryptocurrencies to Watch in 2024?

How to Find the Cryptocurrencies to Watch in 2024?

There currently are thousands of hugely promising altcoins. This makes finding the best cryptos to watch out for quite overwhelming. To help you find top cryptos to add to your watchlist, we ask that you consider these factors when vetting cryptos:

Adoption and Utility

A crypto’s adoption and use case are a great indicator of its possible future. As more on- and off-chain brands adopt a digital asset and as its use cases rise, its demand rises, which spurs value gain. Therefore, the best coin to add to your portfolio should have real-world use cases.

Market Cap and Tokenomics

A coin’s market cap and tokenomics speak volumes about its future price performance. The best future crypto should have room for growth, which is indicated by a low market capitalization and healthy tokenomics. Avoid cryptocurrencies with a bloated circulating supply and a large market cap.

Crypto Market Trends and News

You need to learn how to analyze market trends and follow crypto news. This goes a long way in helping you identify the next cryptos to explode. Historically, for example, Bitcoin halving events predate a bull run, and with each bull run comes an investment craze. Meme coins, for instance, dominated the last bull run. AI cryptos are projected to dominate this market cycle, which makes them worth adding to your portfolio.

Macro Factors

Macro factors like changes in regulation, inflation, and technological changes have a significant impact on the crypto market. Understanding how any of these will shape the market can also help you identify cryptos to watch. Advancements in the AI industry, for example, have led to a spike in demand for AI cryptos. You may thus want to add more of these coins to your watchlist.

Ecosystem Growth

Cryptos with a vibrant ecosystem and innovative development team should also be on your watch list. These are cryptos that are not only up to date with their roadmaps but are also tuning the project to address real world challenges. The demand for these digital assets will continue rising, which makes them worth watching.

Community Support

The online community plays a critical role in the life of a digital asset. It influence a coin’s listing on major exchanges, popularizes crypto news and events, and can even initiate price pumps. Coins with a growing and vibrant online community are therefore worth watching.

Are Cryptocurrencies Regulated?

No, most countries haven’t come up with a comprehensive set of laws and regulations to govern the crypto industry. In these jurisdictions, the adjudication of the industry has been left in the hands of financial market regulators. Even then, these bodies have only come up with largely unclear policies and advisory papers.

In the United States, for example, The Biden administration issued an executive order on Ensuring Responsible Development of Digital Assets in 2022. The congress and the senate is yet to pass a comprehensive crypto bill. Further, SEC, the body charged with regulating the finance industry hasn’t come up with clear guidelines for the industry’s operations.

Crypto exchanges and industry players have taken several measures aimed at accelerating the creation of crypto laws. Coinbase, for instance, sued to compel the SEC to come up with new and reasonable crypto rules. Trading platforms, investors, and venture capitalists are also funding crypto-focused lobby groups in Washington ahead of the 2024 presidential elections.

Conclusion 

The crypto market has already started signs of recovery. The likes of Bitcoin have even broken above previous all-time highs. As the bull market gathers pace, you are probably to invest in the next cryptos to explode. In this post, we have introduced you to what we consider the top cryptocurrencies to watch this year.

Want to start buying any of the cryptos we have discussed above? Create a free crypto trader account with eToro, deposit funds, identify the best crypto to buy, and open a buy order.

Cryptoassets are a highly volatile unregulated investment product. No EU investor protection.

Disclaimer: Cryptocurrency is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. Investors could lose all of your invested capital.

References:

  1. https://www.coindesk.com/business/2024/04/08/crypto-market-cap-to-double-to-5-trillion-by-year-end-ripple-ceo/
  2. https://www.reuters.com/markets/currencies/hong-kong-gives-initial-approval-first-bitcoin-ether-spot-etfs-say-funds-2024-04-15/
  3. https://www.bloomberg.com/news/articles/2024-02-15/as-bitcoin-rallies-banks-push-sec-to-change-an-accounting-guideline-sab-121
  4. https://solana.com/news/solana-foundation-delegation-program-updates
  5. https://www.thestreet.com/crypto/markets/ftx-dumping-1-billion-sol-wont-hurt-solana-price
  6. https://cointelegraph.com/news/hong-kong-bitcoin-ether-etfs-attract-200m-day1
  7. https://www.coindesk.com/tech/2022/09/15/the-ethereum-merge-is-done-did-it-work/
  8. https://www.forbes.com/sites/nataliakarayaneva/2024/03/19/what-is-ethereums-dencun-upgrade-and-how-does-it-help/
  9. https://u.today/cardano-and-smart-contracts-everything-you-should-know-comprehensive-guide-by-utoday
  10. https://www.coindesk.com/tech/2023/08/16/shiba-inus-ethereum-layer-2-blockchain-shibarium-goes-live-amid-push-for-defi-growth/

FAQs

Which is the best crypto to buy this year?

Bitcoin is the best crypto to buy for long term investors. It also has a comparatively higher sustainability guarantee than most other digital assets.

Meme coins are worth considering today because they have historically proven to be highly lucrative. They have consistently outperformed large-cap digital assets like Bitcoin and Ethereum.

Meme coins lead the pack on the list of the fastest-growing cryptos this market cycle. Among the fastest growing cryptos right now are Solana-based meme coins like Bonk and DogWifHat.

Among the best next cryptos to 100x is Atos, Pancakeswap, and Ripple. These are grossly undervalued yet have solid fundamentals and a hugely promising future.

Bitcoin tops our list of the best cryptos to watch right now because it has performed exceptionally well in the past. It is also considered undervalued and expected to continue performing well moving forward. Others include Ethereum, Solana, Ripple, Uniswap, ApeCoin, and Pancakeswap.