Based on several factors, ranging from blockchain value and community to general backers, the five cryptocurrencies outlined below have what it takes to turn a $10 investment into $1,000 in 2024.
The crypto ecosystem has continued to welcome numerous protocols with their underlying assets. While some are promising, most new tokens are merely cash grabs designed by crypto scammers.
For investors looking to get a headstart in their research on promising tokens, these five tokens are worth considering.
Solana has a robust ecosystem that is notably in the spotlight at the moment. The blockchain protocol has a lot of good things happening simultaneously in its ecosystem that primes it for immense growth this year.
From the emergence of Solana Mobile to DePIN and DeFi, Solana has taken the fight for dominance to Ethereum’s doorsteps.
Solana also has a very positive price action that enables it to recover easily from bearish trends. At the moment, it is priced at $92.62, up 1.64% in the past 24 hours.
Polygon is a major delight for enterprise firms looking to make a pivot into the Web3 space. As an Ethereum-based scaling protocol, Polygon has recorded immense achievements in the past year, ranging from its partnership with Starbucks to the CDK toolkit it designed to help create other blockchain networks.
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Polygon also has the tendency to increase investors’ capital this year based on numerous advances up its developer’s sleeves.
The digital currency is changing hands for $0.777, up 3.97% in 24 hours. Despite being down 73.61% from its All-Time High (ATH) of $2.92, the chances of further growth are high.
Cardano, as a blockchain network, is arguably the most developer-driven protocol as judged by its GitHub activities. Primed for scalability and low cost, Cardano is making its mark in Web3 as one of the fastest-evolving chains to pitch tents with.
Its positive innovation rate has polished the potential of ADA, its native token, which is worth $0.4849. The asset is up 0.11% in 24 hours at the time of writing. One of the most important updates on Cardano is the Hydra, a scaling solution it pitched as a game-changer.
Avalanche is one of the top coins with the most intriguing recovery rates over the past year. Described as the fastest protocol in terms of Time to Finality, Avalanche has soared by more than 81.17% Year-on-Year (YoY) to $32.60 after dropping as low as $8.91 on October 19, 2023.
Avalanche’s big sell as a candidate on this list lies in its growing embrace by major financial firms like JPMorgan Chase & Co.
XRP is considered one of the biggest but undervalued digital currencies in the crypto scene. Currently trading for $0.5294, the token is up 2.02% in the past 24 hours, per data from CoinMarketCap.
XRP is the only crypto recognized by law as a non-security after the historic ruling from Judge Analisa Torres. The July 2023 ruling set a precedent that is poised to unleash the coin this year and in the coming ones.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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