The Best Crypto to Buy: Your Guide to Investing in Cryptocurrency in 2024

The number of token holders is increasing annually. This is not solely due to the fact that cryptocurrencies are currently in vogue as an investment vehicle. In light of the instability of the traditional financial market, even institutional investors are turning their attention to promising digital currencies, diversifying their investment portfolios driven by a principle of “not putting all eggs in one basket.” The perceived risk associated with cryptocurrencies has diminished significantly in comparison to fiat currencies, particularly over the past five years.

The demand for crypto investments remains high, so now you have a detailed review of the best crypto to buy in 2024. The review provides insight into the current performance of the top crypto, as well as a crypto analysis of the assets favored by the world’s largest cryptocurrency exchanges. In addition, it offers useful tips on identifying the best cryptocurrency to purchase for the long term.

The article covers the following subjects:

Top 12 Cryptocurrencies to Buy Now

Initially, this article reviewed the top 10 cryptocurrencies of 2024 to devise top crypto recommendations. However, given the number of promising coins for investment with solid capitalization, it was decided to expand the list of top assets to 12, which are often included in the best crypto portfolios. The top list includes popular cryptocurrencies like Bitcoin and Ethereum, as well as cryptocurrencies with the best growth potential, which were recently known only to crypto enthusiasts.

1. Bitcoin (BTC)

The top position in the ranking of the most promising tokens belongs to Bitcoin (BTC), the most renowned cryptocurrency. It is the optimal choice for investment and store of value, called “digital gold.” This is evident from its market capitalization and trading volumes. Market participants are actively trading the coin, and high trading volumes point to BTC’s robust liquidity.

After a ten-year approval process, the US Securities and Exchange Commission (SEC) has greenlighted the first BTC-based exchange-traded funds (ETFs) in the crypto world. This is a significant development for both the BTC blockchain platform and the broader crypto market. Previously, digital currencies were traded through separate decentralized applications and exchanges, and did not interact with traditional markets. However, institutional investors are now investing in Bitcoin.

There are several additional reasons why BTC is the optimal cryptocurrency for investment in 2024. The fourth halving, which occurred in April, is widely regarded within the crypto community as an indicator of an impending bull market. Thus far, investors in BItcoin have encountered elevated transaction fees, as the market has been overheated in anticipation of this event. Some experts anticipate that halving-induced growth will occur as early as the fall of 2024.

A more fundamental reason for considering BTC the best cryptocurrency for investment is the systematic reduction in supply in line with growing demand. The maximum supply of Bitcoin has almost been reached. Currently, 90% of tokens have already been mined, with the number of new tokens mined declining annually. Meanwhile, the number of investors willing to invest in BTC is not decreasing.

A recent study by Chainalysis revealed that approximately 17%-23% of all bitcoins are irretrievable. In light of this data, the limited demand for “crypto gold” is poised to reach unprecedented levels.

Pros	Cons
BTC is the most promising cryptocurrency in 2024, with a capitalization that is unattainable for other coins and high trading volumes.	The most lucrative cryptocurrencies are typically expensive. In the case of BTC, the market is currently overheated. Consequently, it is unlikely that Bitcoin will appreciate significantly in value.
It has the highest level of liquidity among all cryptocurrencies, making it simple to sell and buy Bitcoin anywhere in the world.	Following the last halving, transaction fees have increased considerably. This has led to higher costs for crypto investors, yet has had minimal impact on the consistently high trading volumes.
There is a high probability of delayed price growth after the last halving.
Bitcoin emission is decreasing while demand is growing.

2. Ethereum (ETH)

When queried about the most promising cryptocurrency for investment purposes, altcoin enthusiasts will invariably cite Ethereum as the top choice. The ETH blockchain platform is a comprehensive crypto ecosystem that enables the execution of smart contracts and supports a wide range of decentralized applications. The decentralized applications on the Ether blockchain make it a universal means of payment. As a result, the liquidity of Ether has grown to a level that other blockchains cannot match. Additionally, Ethereum has received exchange-traded fund (ETF) approval, which is a significant accomplishment for a cryptocurrency.

In 2024, when selecting a cryptocurrency to invest in, consider the global rollout of the blockchain platform Ethereum 2.0. It includes significant enhancements in security, the expansion of the decentralized finance (DeFi) concept, and an increase in the blockchain network’s speed. These improvements have the potential to drive the growth of promising cryptocurrencies. There was a period in the history of the crypto market when Ethereum growth was five times more intense than the BTC market. It is possible that the world’s second-largest coin will hit a new all-time high.

Pros	Cons
The transition to Ethereum 2.0 offers a number of advantages, including high transaction speed, low fees, and high scalability.	The involvement of large market participants may result in increased centralization of the network.
The approval of an Ethereum ETF provides institutional investors with new investment opportunities.	The ETH market, like other promising cryptocurrencies, is overheated.
A comprehensive selection of supported decentralized applications (dApps).
The transition to PoS, staking, and regular Ether burning will limit the supply of the coin in the market, which is expected to spur its value.

3. Solana (SOL)

In 2021, Solana was recognized as a top cryptocurrency for investment due to its impressive growth trajectory. It swiftly gained recognition within the cryptocurrency sector, alongside other top-notch digital assets at the time. However, the success was short-lived, and the crypto winter that began in 2022, along with the collapse of TerraLuna and FTX, had a significant impact on the SOL market. Quotes declined by 94%, leaving investors who failed to realize profits in a significant loss until the end of 2023.

The Solana rate is now showcasing a robust recovery. The cryptocurrency has successfully established itself in the top five by market cap, and it is well-positioned for continued growth. This is made possible by a favorable environment in the crypto market and the inherent advantages of the decentralized SOL network.

The Solana blockchain is a third-generation platform that offers enhanced features reminiscent of an improved version of the Ethereum smart contracts platform. The Solana network is the fastest in the industry in terms of transaction speed. The cryptocurrency developers have indicated that the platform will be capable of processing up to 65,000 transactions per second. Even the closest competitor, Polkadot, has a blockchain that is only 5-6 times faster.

Pros	Cons
Solana is a modern decentralized third-generation network.	The cryptocurrency’s value has not been stable. Following a period of rapid growth in 2021, the market saw a 94% plunge in 2022. However, just a year later, it started to recover quickly.
It offers a high transaction processing speed of up to 65,000 per second with low fees.	Throughout the history of the Solana blockchain, transaction processing has been disrupted several times due to network congestion. The most recent outage occurred in February 2024. These disruptions have prompted reliability and security issues of the blockchain technology.
The coin has secured its place in the TOP-5 coins by market cap.	Compared to other decentralized cryptocurrencies, Solana exhibits a higher degree of centralization. For instance, Solana has approximately 1,300 validators, while Ethereum has over 10,000.
Currently, it is the main platform for high demand meme coins.

4. Avalanche (AVAX)

Avalanche is a first-level blockchain that offers capabilities similar to those of Ethereum. In other words, developers are able to create tokens, NFTs, and dApps on the cryptocurrency’s blockchain.

One of the key advantages of this cryptocurrency for investment is that the Avalanche network effectively interacts with other blockchains and exchanges information with them thanks to an ingrained EVM compatibility feature. The Avalanche blockchain is faster than the Ethereum network, processing up to 4,500 transactions per second. With a limited maximum supply of 720 million coins, AVAX may be a suitable long-term investment vehicle.

However, the coin has yet to gain significant traction, particularly in comparison to other altcoins such as ETH. It has the potential to become a cost-effective option for portfolio diversification.

Pros	Cons
AVAX token supply is limited.	The cryptocurrency cannot compete on an equal footing with the more established altcoins.
The network is high-speed, with up to 4,500 transactions per second and low fees.	In order to become a validator, one must deposit a minimum of 2,000 AVAX tokens, which at the time of writing equates to $74,740. This is how the developers attempt to safeguard the system from unscrupulous validators. However, this requirement also results in an excessive centralization of the network.
It is compatible with other blockchains.
It has a developed ecosystem based on smart contracts.

5. Binance Coin (BNB)

Since Binance is one of the world’s largest and most reputable cryptocurrency exchanges, its native BNB token takes the fifth place in the best performing cryptos ranking. In addition, Binance Coin was integrated into decentralized exchange projects. For instance, the coin enables users to receive prospective crypto assets and invest in new projects based on the BNB Chain blockchain technology. Additionally, the coin can be used to pay for transaction processing fees, known as gas fees, and partially cover trading fees on the Binance cryptocurrency exchange.

Furthermore, the BNB coin is considered a potentially attractive investment due to the regular buyback and burning of tokens, which reduces Binance’s income.

Pros	Cons
The success of Binance, the world’s largest crypto exchange, ensures a stable demand for the BNB token.	It is unclear whether Binance Coin would have gained such a high level of popularity if it had not been linked to the exchange services.
BNB enables deep integration with cryptocurrency exchange services.	The token’s use outside the exchange is currently limited, which may present a challenge to its further development.
The BNB rate is significantly influenced by developments related to the exchange’s founder, Changpeng Zhao (CZ). His recent arrest on charges of money laundering for four months has had a notable impact on the BNB rate. It is possible that the saga involving the regulator, the Binance cryptocurrency exchange, and its founder may not be over, and further legal troubles may emerge.

6. XRP (Ripple)

When selecting a cryptocurrency for purchase, it is advisable to consider Ripple, a distinctive coin with notable aspirations. The development team intends to provide an alternative to SWIFT in the realm of decentralized finance, facilitating cross-border payments.

The crypto project has formed strategic alliances with over 100 international financial institutions and companies, including Crédit Agricole, the Bank of England, Bank of America, and others.

As the company strives to achieve its ambitious goals, it has encountered legal challenges related to its XRP cryptocurrency. In 2023, the SEC initiated legal proceedings against Ripple, alleging the sale of unregistered securities worth $1.3 billion. Despite this, the proceedings did not trigger a prolonged bear market, and in the fall of 2023, the SEC withdrew its lawsuit. Ripple’s Chief Legal Officer described the termination of the lawsuit as a “surrender by the SEC.”

Pros	Cons
The cryptocurrency is supported by more than 100 international financial institutions and companies.	Low transaction speed. The Ripple team claims that the system is capable of processing a large number of transactions, but in practice, scaling can be a complex and expensive process.
The development team plans to make Ripple a full-fledged alternative to SWIFT.	XRP is subject to significant price fluctuations, which can pose risks for investors and companies using the coin for payments.
High degree of centralization. The blockchain is often criticized for the fact that Ripple Labs controls a significant part of the total XRP supply and has significant influence on the network.
Growing competition among infrastructure projects for international payments. Among them: Stellar (XLM), founded by one of the co-founders of Ripple. JPM Coin is a cryptocurrency developed by JP Morgan Chase for interbank transfers. IBM World Wire, based on the Stellar blockchain.

7. Uniswap (UNI)

Uniswap diverges from the conventional understanding of cryptocurrencies. This token is integrated into Ethereum-based services and protocols designed for decentralized crypto trading.

Decentralized exchange Uniswap does not have an order book, which differentiates it from the architecture of centralized cryptocurrency exchanges. By addressing these concerns, the project’s creators have effectively mitigated the risks associated with participant security and anonymity.

The development team has recently implemented a new concept of Uniswap v3, which has resulted in the UNI token becoming one of the most attractive cryptocurrencies for investment. The previous inefficiencies in the use of capital, which autonomous liquidity aggregators were experiencing, have been resolved. Additionally, liquidity providers are now able to set individual price ranges, and LP positions on Uniswap can be used as NFT tokens.

Pros	Cons
The project offers high anonymity for participants, which is a significant draw for many new token holders.	Due to high fees during periods of high network load, Uniswap is not a cost-effective solution for participants with smaller funds.
The updated Uniswap v3 protocol enhances automated market making (AMM) efficiency, offering participants new investment opportunities.	There is a risk of regulation by the SEC, which could impact the future of both the crypto exchange and the UNI token.
Participants have the option of providing liquidity and earning commissions from each transaction conducted through their liquidity pool.	Uniswap faces significant competition from other decentralized exchanges and platforms offering similar services and features.
Uniswap offers support for numerous Ethereum-based tokens.

8. Polkadot (DOT)

The most promising cryptocurrencies have encountered the same scalability problem. As the number of users grows, the number of transactions increases, yet the network throughput remains unchanged.

Polkadot, like the previously discussed Solana coin, offers a completely new approach to increasing network performance. The DOT blockchain is a multi-chain network that can process thousands of transactions simultaneously, with a declared network throughput of approximately 10,000 operations per second. This is significantly higher than the 7 operations per second achievable by Bitcoin, which reinforces the potential for success of such cryptocurrencies.

Pros	Cons
High network performance.	Polkadot is a sophisticated platform with a distinctive architectural design that incorporates a relay chain, parachains, and bridges. For new users and developers, understanding and using this system can present a challenge.
Blockchain interoperability. Polkadot brings interoperability across various purpose-built blockchains by bridging them, opening up opportunities to create more complex and functional decentralized applications (dApps).	Despite its robust security standards, Polkadot is not immune to vulnerabilities and attacks. Errors in the code or vulnerabilities can result in the loss of funds and data, not only for DOT token holders but also for all projects built on Polkadot.
The DOT token has a variety of applications: governance, staking, and bonding to create new parachains. This stimulates the development of the network.	Polkadot employs the NPoS (Nominated Proof of Stake) consensus mechanism. This can result in centralization of the coin, and imbalances in the system can pose economic risks for participants with limited capital.
Polkadot parachains can use the shared security provided by the main network.

9. Cosmos (ATOM)

From a macro perspective, Cosmos can be considered a cosmic ecosystem. The scalability of the system allows for the simultaneous operation of multiple interconnected blockchains. The Cosmos Hub blockchain serves as a central registry, regulating interactions within the Cosmos network.

A significant development in the Cosmos ecosystem that prompted investment was the recent decision to set the maximum inflation rate for the ATOM cryptocurrency at 10% per year. While this may limit the profitability of crypto staking, it will also support the token’s value. The coin is currently trading in a long-term sideways channel, hinting that the cryptocurrency may gain traction in 2024.

Pros	Cons
Cosmos allows different blockchains to interact with each other, solving the problem of fragmentation.	Inflation caps have reduced staking yields from 19% to 13.4% per year.
Inflation is limited to 10% a year.	Overpayments for network security, which means that participants receive less reward for staking.
The use of BFT consensus (Byzantine Fault Tolerance) in combination with Proof-of-Stake (PoS) increases network performance, scalability, and security.	High competition from other blockchain projects.
The Cosmos SDK simplifies blockchain creation and configuration. The ecosystem of Cosmos projects and applications is rapidly expanding.	Despite Cosmos’ technical superiority and primacy, its popularity remains low due to the lack of active marketing.

10. Litecoin (LTC)

If you are uncertain about which cryptocurrency to purchase among altcoins, take a closer look at Litecoin. This is one of the oldest cryptocurrencies, which is sometimes referred to as “digital silver” due to its status as the first Bitcoin alternative.

The cryptocurrency first appeared in 2011 but was unable to gain a competitive advantage over BTC. However, it has since established a strong position in the altcoin market. In terms of functionality, Litecoin is comparable to BTC, but offers enhanced transaction speeds and regular blockchain updates, which have become increasingly crucial with the advent of new market participants.

Crypto enthusiasts who prefer to invest small amounts choose LTC because of the low fees. Additionally, Litecoin boasts a highly dedicated fan community, with loyalty levels that may rival those of meme coins.

As of 2024, Litecoin has several advantages. The effects of the last halving, which allowed for a reduction in annual inflation from 4% to approximately 2%, are still being felt. Other positive factors for the cryptocurrency include a surge in trading activity since the beginning of the year, as well as its attractiveness among institutional participants following the official approval of the spot Bitcoin ETFs.

Pros	Cons
Litecoin employs time-tested cryptographic protocols and boasts a vast network of miners, ensuring robust security and resilience against potential attacks.	Litecoin has a smaller capitalization compared to Ethereum, Solana, and other TOP-10 crypto projects.
Litecoin has a block generation time that is four times shorter than that of Bitcoin, at 2.5 minutes versus 10 minutes, respectively. This results in faster transaction confirmations. Additionally, the cost of cryptocurrency silver commission is lower when compared to BTC.	Despite the recent surge in popularity of Litecoin, its trading volumes remain comparatively low against those of its competitors. This indicates that demand for the coin and its liquidity are not yet at a significant level.
Regular blockchain updates and increased scalability presents a promising outlook for future growth.	The use of the Scrypt algorithm for mining may result in the centralization of mining power.
The impact of halving, a surge in trading activity, positive real-world data, and other positive factors are contributing to an upward price movement.	Litecoin is often criticized for its lack of innovation.
Litecoin is supported by numerous exchanges, wallets, and services, enhancing its usability and accessibility.

11. Cardano (ADA)

Cardano was created to provide everyone with a reliable and scalable smart contracts platform for developing decentralized applications. The Cardano platform’s distinctive two-tier architecture – comprising the Cardano Computational Layer and the Cardano Settlement Layer – enables the platform to fulfill this objective.

The project is based on the Ouroboros unique consensus algorithm, which enables validators to participate in the creation of blocks based on their stake.

The ADA cryptocurrency within the blockchain is used to participate in the consensus mechanism and pay transaction fees. Among cryptocurrencies, ADA has a reputation as a solid mid-range player that has successfully established a niche in the market. A close-knit team of developers regularly works on scalability and other improvements together with a dedicated fan community.

Pros	Cons
Cardano is a scalable project with robust support for the development of sophisticated and complex decentralized applications.	Due to the scientific approach and use of formal methods, the development and implementation of new features may take a lot of time.
Cardano’s team releases regular blockchain updates.	The Cardano platform offers a more limited set of smart contracts and decentralized applications than those available in its closest competitor ecosystems.
The number of available coins is limited.	The scientific approach used in the development of Cardano allows for the avoidance of many errors, but at the same time, it may result in slower network development.

12. Toncoin (TON)

Toncoin is a relatively new cryptocurrency that entered the TOP15 in March 2024 and subsequently secured a position in the top 10 digital assets by capitalization a few months later.

TON is an innovative third-generation blockchain created by the Telegram development team, led by Pavel Durov, a renowned figure in the industry. However, in 2020, Telegram was compelled to relinquish control over TON in response to regulatory pressure. Consequently, a formally independent team of developers is now responsible for the development of the blockchain.

From a technical standpoint, the Telegram blockchain is nearly flawless. The platform can process up to 55,000 transactions per second. The multi-level architecture and hybrid consensus Proof-of-Stake (PoS) and Byzantine Fault Tolerance (BFT) ensure ultra-fast transactions. Another factor contributing to the stable development of the cryptocurrency is the growing network of TON applications and services, as well as the capability to integrate with diverse blockchains through cross-chain transactions.

A key benefit of TON is its native integration with the Telegram messenger, which boasts an impressive user base of over 1 billion.

Pros	Cons
The multi-layer architecture enables the processing of thousands of transactions per second, ensuring high throughput and low latency.	Telegram no longer manages the project, at least formally.
The TON network is designed for automatic scaling, allowing for the dynamic creation of new sharding chains and the processing of thousands of transactions simultaneously.	Experts continue to highlight the relative immaturity of the project, which is to be expected for a new cryptocurrency.
TON offers distinctive features, including DNS technology, tools for creating smart contracts, and a multi-blockchain structure.	The rapid growth in the number of TON users has resulted in a high number of individual applications crashing.
The native integration of user applications and wallets into the Telegram messenger facilitates a rapid increase in new users and cryptocurrency enthusiasts.	The current DeFi implementation is less advanced than that of competitors, although this is to be expected given the recent emergence of the blockchain.
The strong hype and large number of newcomers in the crypto industry have attracted a number of scammers and fraudsters to TON.

The Most Promising Crypto in 2024

After evaluating the potential of various cryptocurrencies for 2024, I have compiled a personal rating of the most promising coins. This list includes both the crypto with best potential and new crypto assets. This list is not intended to serve as a recommendation for investment. It is solely based on my personal opinion and is provided for informational purposes only.

1. Bitcoin (BTC) is the very first cryptocurrency, a true giant of the entire cryptocurrency world. Its high demand, worldwide fame and recognition, and growing scarcity of coins make it a dominant force in the global cryptocurrency landscape. Thus, the BTC rate will likely grow in the long term.

2. Ethereum (ETH) remains the most powerful platform for smart contract implementation and dApps, and is the clear leader in the alternative cryptocurrency market. The ETH coin plays a significant role in the ecosystem and is consistently growing along with the broad crypto market.

3. Ripple (XRP) is a payment system used by financial institutions as an alternative to SWIFT for transnational payments, offering fast and low-cost transactions. The company has emerged victorious in several legal disputes with regulators and enjoys robust support from the crypto community, which bodes well for its future prospects.

4. Solana (SOL) is another bright contender in the crypto market. This ultra-fast cryptocurrency has the potential to reach a top speed of up to 65,000 tps. In addition to its low fees, Solana has become a popular platform for novice crypto investors and those interested in high-risk assets, with many meme coins actively utilizing it.

5. Celestia (TIA). Which crypto will explode in 2024? It is likely that new coins will be created on the basis of a modular blockchain. One of the most promising new entrants in the cryptocurrency market is Celestia.

6. Cardano (ADA) is another significant player in the cryptocurrency market. This coin’s blockchain is developed using a scientific approach, which differentiates it from other cryptocurrencies. The network supports smart contracts, offers competitive transaction fees, and provides an opportunity for revenue generation through mining. Recently, the Cardano network has become a hub for several pioneering developments in artificial intelligence.

7. Toncoin (TON) is a cryptocurrency that some experts have described as a “semi-stock.” Despite Telegram’s decision to terminate its own cryptocurrency, the coin remains linked to the company’s thriving messenger business.

8. Polkadot (DOT) is another notable project in the world of crypto. This project implements technology that enables blockchain interoperability. This significantly enhances the functionality of the cryptocurrency, increasing its liquidity.

9. Tron (TRX). The coin is positioned as part of a global digital entertainment system with distributed data storage. TRX and the TRC-20 tokens on its blockchain are attracting more supporters due to instant transactions.

10. Chainlink (LINK) positions itself as a significant provider of oracles for smart contracts. Blockchain oracles are entities that connect blockchains to external systems.

The Safest Crypto to Invest in

This rating includes reliable and safe projects that have proven their solvency. If you are still a beginner in the crypto space or prefer long-term investments, choose stable and safe crypto with the lowest chances of substantial drawdown. At the same time, cryptocurrency as an investment asset carries additional risks compared to alternative markets. There is no guarantee of reliability in the world of crypto.

1. Bitcoin (BTC) is the world’s first cryptocurrency and the all-time leader of the cryptocurrency rankings. If any coin can be called an asset with minimal risk, it would be trusted Bitcoin.

2. Ethereum (ETH) is the second digital currency by market cap. No matter what happens to the crypto market, Bitcoin and Ether can be exchanged for tangible goods and assets.

3. Ripple (XRP) maintains a stable position within the top five cryptos in terms of market capitalization. Additionally, hundreds of international companies and financial institutions utilize it for mutual settlements.

4. Tether (USDT) is the king of stablecoins. The company’s fiat reserves provide a secure foundation for investments, offering a reliable source of liquidity in case of market turbulence, so it is possible to exchange cryptocurrencies for US dollars. Tether’s DeFI infrastructure enables investors to generate passive income by investing USDT.

5. Binance Coin (BNB) is the world’s most renowned crypto exchange token. The coin is integrated into the services of the Binance ecosystem and has become a key tool for the popularization of cryptocurrency and the development of the DeFi trend, in particular, and the Web3 market in general. Despite the unfortunate events involving CZ and the exchange, the BNB token has maintained its status as a liquid and in-demand asset.

Methodology for Selecting the Best Crypto to Invest

Selecting cryptocurrencies with favorable investment prospects presents a significant challenge due to their elevated volatility. The value of crypto assets is challenging to predict due to the numerous factors that influence it, including supply and demand dynamics, market events, and regulatory changes. A thorough understanding of current market trends, a comprehensive analysis of capitalization, technical and fundamental indicators, ranking methodology, and a constant monitoring of news and crypto rating updates are essential elements in making sound investment decisions. Notably, there are no guarantees of success in this field. However, certain techniques can help you invest wisely.

Market Capitalization and Liquidity

• The market capitalization of a cryptocurrency represents the aggregate value of all tokens currently in circulation. The market cap of a cryptocurrency is dependent upon the price of the crypto asset and the number of coins currently in circulation. This indicator enables investors to evaluate the potential of tokens. Investments in digital assets with high capitalization are generally considered safer than those with low capitalization, and their volatility is much lower.

• In the context of cryptocurrencies, liquidity refers to how quickly digital assets can be purchased and sold. It is determined by the total capital invested by buyers and sellers. The amount of available liquidity determines the density of trading on an exchange and higher trading volumes suggest a vibrant market. High liquidity allows for easier buying and selling of an asset without significantly affecting its value.

Utility and Adoption

Utility is the defining element of cryptocurrency demand and acceptance. In the cryptocurrency market, it is not enough to have a mere function as a means of payment for a sustainable demand for a token.

The functionality of a particular cryptocurrency is determined by:

• The flexibility of the blockchain on which the crypto runs;

• The availability of cross-chain and multi chain circulation of the asset, ensuring real-world widespread adoption;

• the ability to improve the ecosystem and build infrastructure to expand the cryptocurrency’s use cases.

Innovation and Sector Leadership

While the innovative technology embedded in a particular blockchain does not always guarantee its leading position, it can provide a competitive advantage in certain crypto sectors. The most illustrative example is Bitcoin, which is technically less advanced than the majority of existing cryptocurrencies but has maintained its position as a dominant market leader. Nevertheless, when making an investment decision, it is important to consider the innovation aspect, as this is a key driver of demand for the token and its price. Accordingly, when evaluating potential investments among market leaders, it is advisable to prioritize assets with the most advanced technical capabilities.

There are several key criteria which can be used to assess the extent of innovation in a cryptocurrency:

• The speed and scalability of the blockchain;

• The cost of transactions;

• The security and privacy of the network;

• The ability to build an ecosystem:

  • Decentralized applications (dApps);

  • Use of smart contracts;

  • Availability of cross chains, interconnect bridges, and interoperability with other chains.

Team and Development Activity

The team is a key factor in the success of the project. Therefore, try to answer the following questions before making an investment decision:

• Does the analyzed cryptocurrency have a known or anonymous team?

• What is the track record of the participants?

• What experience do they have and what other projects have they launched? Where have they worked? 

• How active is the team in developing the product and ecosystem? Does the crypto project have GitHub activity?

• How open is the team in their plans and actions?

• Does the team follow a planned roadmap detailing future developments and milestones, along with team credentials? How often does the team revisit timelines on key events?

These questions should be considered each time you choose a cryptocurrency to invest in.

Overview of Current Crypto Market Landscape

We have already provided an overview of the most popular cryptocurrencies and the most attractive coins. Before making investment decisions, it is essential to gain an understanding of the overall market situation and determine bull and bear market cycles.

In the first half of 2024, the crypto market has witnessed a series of significant events that have had a notable impact on the value of digital assets. The second half of the year is expected to bring further events that will capture the attention of investors.

The cryptocurrency market is currently experiencing a period of low activity. However, according to the latest CoinGecko public report, 80% of respondents anticipate the crypto bull run to resume, with over 50% believing it has only just begun.

To gain insight into the near-term outlook for cryptocurrency, it is essential to understand the key crypto trends influencing its exchange rate.

Major Crypto Market Trends

• Spot cryptocurrency ETFs approved by the SEC. Bitcoin started this trend in January 2024. Recently, an ETF for Ethereum was adopted. Experts predict the trend to continue and ETFs for LTC, SOL and other top crypto assets will appear. This trend contributes to attracting funds from institutional and large participants to the market. This creates the risk of market manipulation by Wall Street, but it also supports the demand for cryptocurrency and the inflow of new investments.

• Bitcoin halving. Perhaps, it is one of the most anticipated events this year, it is often seen as a harbinger of a new bull cycle. An important feature of this signal is its anticipatory effect. Usually, the market goes into a consolidation phase for about 12-18 months after a halving, and only then it experiences rapid growth. The last halving occurred in April 2024, which means that the crypto market will likely face elevated volatility until the end of the year and showcase a bull run in 2025.

• DeFi development. Decentralized financial platforms continue to gain popularity, offering users lending, staking, raking and trading services without the involvement of traditional financial institutions. The total amount of funds invested in DeFi has already exceeded $192 billion and continues to grow. Notably, the Ethereum blockchain is holding approximately 70% of all funds.

• New NFT protocols. Experts forecast a renaissance of the NFT marketplaces due to the launch of new protocols, which will expand royalty opportunities from the resale of NFTs, changing the properties of NFTs tied to off-chain data such as date, temperature, location and other data. Also, the ERC-1155 protocol allows the combination of fungible and non-fungible tokens in a single contract. All these innovations are already becoming part of new GameFi projects and next-generation Web3 games.

• The US presidential election. The United States continues to serve as the primary regulator of the cryptocurrency market, influencing the general attitude towards cryptocurrency among institutional investors globally. As has been widely reported, the presidential election on November 5, 2024 will see two main candidates, Donald Trump and Kamala Harris, competing for the nation’s highest office. They hold opposing views on digital assets. Trump has accepted funds for his company in cryptocurrency and has publicly identified himself as a crypto president. In contrast, Harris advocates more stringent regulations for the cryptocurrency market. Therefore, a Trump victory would support bullish sentiment in the crypto market.

These are the key factors affecting the value of cryptocurrency. It is also worth paying attention to other trends:

Major trends in the cryptocurrency market
Positive	Negative
New crypto ETFs are expected to appear.	Instability in the US stock and debt markets.
Expectations of a post-halving bull cycle.	Increasing number of lost and stolen funds in Web3.
Rapid development of the DeFi industry and metaverses.	Soaring number of scammers and new fraudulent practices in crypto.
Renewed interest in NFTs.
The likely victory of Donald Trump.	The likely victory of Kamala Harris.
Mass popularization of cryptocurrency through native integration with messengers and social media.	Stricter regulation of the cryptocurrency market.

Tips for New Crypto Investors

• Concentrate on analyzing the market leaders. It is not easy to assess and find small-cap cryptocurrencies that can soar “to the Moon,” and the risk is high. This approach requires a deep dive into the industry. Therefore, a novice investor should first focus on a few leading tokens from the top 10 in terms of capitalization and liquidity size that can generate decent returns in the long term.

• Do not use leverage. At first, it may seem that margin trading is designed for beginners. However, remember that leverage is borrowed money and assets. If leverage is used correctly, you can boost your profits, but for beginners, this tool is more likely to deplete their deposit.

• You should define your own criteria for selecting the best cryptocurrencies to invest in. Develop an investment strategy taking into account your crypto risk tolerance and expected returns. Determine your investment horizon. The short-term investment targets are set by the end of 2024. The medium-term outlook is to the end of 2025. The long-term investment horizon is defined as a period of one year or more. Select cryptocurrency only in accordance with your preset strategy.

• Keep an investment journal. This will prevent you from making hasty decisions. The journal should record all transactions and decisions made. Specify which coins you are considering, as well as the time, the task at hand, the rationale behind this decision, your emotional state at that moment. By taking all of these factors into account, you can ensure that your investment activity is more conscious, less impulsive, and less risky, which will ultimately lead to greater profitability.

• Study the technical documentation. Take your time to dig into the project’s technical documentation, the team, the roadmap, the official website, and social media. Everything is important. If you do not understand the unique features of the project, cannot find information about the team, or the documentation is written carelessly, with mistakes and without specifics, it is better to refrain from investing.

• Find an experienced investor or a group of such people. Investing in a team will facilitate a more comprehensive understanding of the details. There is a unique opportunity to learn from beginner crypto tips and the experiences of others, without bearing the financial consequences. It is crucial to differentiate between mentoring and uninformed copy trading. In the latter case, there is minimal learning and the risk of repeating others’ mistakes.

• It is inadvisable to allocate funds to an investment that may result in a significant loss. While this may seem a relatively straightforward piece of advice, it is of paramount importance. Cryptocurrency represents the riskiest financial instrument. By following this advice, it will be easier for you to maintain your emotional stability, avoid missteps, and navigate challenging life circumstances.

Best Cryptocurrencies for Long-Term Investors

1. Bitcoin (BTC) is the world’s largest cryptocurrency by market capitalization, the first and most popular in the market. Its movements continue to set the sentiment of the entire crypto industry. Despite more advanced, cheaper, and more productive competitors, Bitcoin holds its leadership in the long term. 

2. Etherium (ETH) is the second cryptocurrency by market cap. Ether has become the benchmark decentralized platform and the home infrastructure for multi-billion dollar DeFi projects. Perhaps, Ether will be forever in the shadow of its big brother, but it has taken its place firmly and is not going to give it up. One of the key events in the development of Ethereum was the transition to PoS consensus, thanks to which the entire tokenomics of the project became deflationary. Demand for ETH continues to grow, while supply is shrinking. These are ideal conditions for its price to showcase a long-term crypto bull run.

3. Solana (SOL) is the most advanced coin in the top five in terms of capitalization. Its blockchain is highly scalable, with low transaction costs, rapid ecosystem development, and a large user base, particularly among NFT and meme coins. This generates a consistent demand for the token, which in turn allows it to appreciate steadily in value.

4. Binance Coin (BNB). Binance, a leading cryptocurrency exchange, has maintained its position as a market leader for an extended period. The company is engaged in active investment in the development of the ecosystem and provides support to startups. Additionally, it employs a deflationary model of token burning. These factors collectively support demand for the token and enable it to maintain its price despite the prevailing negative news and bearish market sentiment. Due to the advanced DeFi infrastructure, BNB can be staked on the Binance exchange and numerous dApps, generating passive income.

5. TONcoin (TON) has demonstrated the most rapid growth of all the assets listed above, with its holders experiencing a more than threefold increase in wealth over the past six months. TON remains a dark horse among the top cryptocurrencies and one of the riskiest investments.

Conclusion

The cryptocurrency industry is characterized by rapid and ongoing evolution. Well-known, established projects are facing competition from up-and-coming, technically more advanced blockchains. This presents an opportunity for investors to generate good returns and diversify portfolios, but it also carries an inherent risk.

Given the constantly evolving nature of the market, it is not possible for any single expert to provide definitive guidance on which cryptocurrencies to invest in and which to avoid. The reviewed top crypto picks are expected to demonstrate significant growth potential in 2024. However, when making investments, it is essential to monitor market trends, industry news, and specific cryptocurrency projects. To achieve long-term success, it is essential to combine discipline and hard work with a thorough understanding of the industry, market, and projects. Attention to detail is also crucial.

Top Cryptos to Invest in 2024 FAQs

What crypto will explode in 2024?

It is difficult to make a precise prediction in this regard. However, there is a possibility that it will be Solana. This cryptocurrency has already demonstrated a rapid growth trajectory, which has contributed to its reputation. The coin has successfully navigated the challenges posed by the crypto winter and the collapse of FTX. SOL can be considered a promising investment opportunity in 2024, although there is no guarantee of future growth.

What crypto to buy in 2024?

If reliability is your primary investment criterion, then coins with a long market history, high trading volume, and high capitalization are your best choice. Examples of such coins include Bitcoin, Ethereum, and Solana. If you are seeking the most promising cryptocurrencies in 2024, despite the potential risks, then third-tier assets and those that have not yet entered major exchanges stand out as promising avenues.

What cryptocurrency is the most popular?

Bitcoin remains the most popular cryptocurrency with the highest trading volume and market cap.

Which is the best cryptocurrency for beginners?

Those planning to make their first investment in crypto assets are advised to consider a cryptocurrency that has been in the crypto markets for a significant period of time and has a high capitalization. While the markets of proven cryptocurrencies are often overheated, which reduces the likelihood of rapid growth in quotes. However, such cryptocurrencies are more stable.

Which cheap crypto has the most potential?

As a rule, an inexpensive but promising crypto asset has an innovative approach to the blockchain architecture or support in the form of integration into a popular crypto exchange or other services, which makes it an attractive proposition for early investors. TON can be classified as such an asset. Telegram Messenger has a user base of over one billion, with only around 10 million active wallets. If we assume that at least 10% of Telegram Messenger users create TON crypto wallets, this could result in a significant increase in the token value.

Should I invest in cryptocurrencies?

The return on investment in promising cryptocurrencies is significantly higher than that of fiat money, stocks, and other traditional assets. However, with high returns come substantial risks. Therefore, the decision to invest in cryptocurrency should be based on risk tolerance.

What is the best crypto to invest in right now?

Identify the top-performing cryptocurrency within the top 10, relative to Bitcoin, over the next seven days, one month, and three months. This crypto is a potential investment opportunity.

Which cryptocurrency has the most potential?

Focus on cryptocurrencies with a market capitalization of less than $1 billion that have not yet been listed on major exchanges such as Binance or ByBit.

Which crypto has the best future?

When considering the top five cryptocurrencies by market capitalization, Ethereum continues to be a dominant player in the industry. It stands as one of the most prominent and valuable altcoins. Ethereum 2.0 has recently undergone significant updates, addressing many of the shortcomings previously identified in blockchain technology.

What is the best new crypto to buy?

When choosing a cryptocurrency, it is advisable to consider the latest trends. Investors are currently focusing on AI solutions, DeFi, DePin, and infrastructure projects.

Which crypto is the next Bitcoin?

Ethereum is now in a stronger position to become the next Bitcoin. This coin has consistently ranked second in terms of popularity, and in the cryptocurrency market it has long been unofficially regarded as the Bitcoin among altcoins.

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.