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Cardano Ecosystem

Finbold

12/15/2023

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The next big crypto to buy in 2024

With 2023 coming to a close and the year 2024 drawing near, cryptocurrency traders and investors are looking for insights into the next big crypto asset to buy that could bring them significant returns on...

The next big crypto to buy in 2024

With 2023 coming to a close and the year 2024 drawing near, cryptocurrency traders and investors are looking for insights into the next big crypto asset to buy that could bring them significant returns on investment (ROI) in the year to come based on their technical analysis (TA) and other indicators.

Indeed, there are several assets in the crypto market to consider buying in 2024 that could meet traders’ expectations and capture the spotlight. That said, things in this field can sometimes change rapidly due to various factors, so thorough research and understanding of these assets is important.

#1 Cardano (ADA)

Recognized for its growing ecosystem’s focus on sustainability, scalability, and transparency, Cardano (ADA) is one of the digital assets with the most potential for further growth in 2024, particularly as the total value locked (TVL) of all Cardano-based tokens has already crossed $435 million, as per Defi Llama data.

Total value locked on Cardano chain. Source: Defi Llama

Meanwhile, Cardano was at press time changing hands at the price of $0.636, down 2.34% in the last 24 hours but still recording an increase of 28.48% over the previous seven days, a gain of 75% in the last month and nearly 160% since the beginning of this year.

Cardano year-to-date (YTD) price chart. Source: Finbold

#2 Solana (SOL)

Serving to support decentralized finance (DeFi) solutions by providing opportunities for creating smart contracts and decentralized apps (dApps), as well as priding itself on high throughput and low transaction costs, Solana (SOL) has recently made it to the top five projects in staked value, as Finbold reported.

Top 5 DeFi chains by TVL. Source: Defi Llama

Currently, this Ethereum (ETH) alternative is trading at the price of $78.72, up 8.58% in the last 24 hours, 10.70% across the previous seven days, 33.23% in the past month, and a whopping 690% since the year’s turn, according to the most recent chart information retrieved on December 15.

Solana year-to-date (YTD) price chart. Source: Finbold

#3 XRP (XRP)

XRP (XRP) has been the big winner of 2023 due to the judicial clarity it received when it comes to its retail sales, which was the conclusion of Judge Analisa Torres in the courtroom standoff between the United States Securities and Exchange Commission (SEC) and blockchain company Ripple.

We said in Dec 2020 that we were on the right side of the law, and will be on the right side of history. Thankful to everyone who helped us get to today’s decision – one that is for all crypto innovation in the US. More to come.

— Brad Garlinghouse (@bgarlinghouse) July 13, 2023

Hence, in this context, the XRP token could register growth in 2024 as investors become more confident in its legitimacy as a commodity and not a security. For now, its price stands at $0.632, up 0.15% on the day, down 1.81% across the week, and declining 0.17% over the month, but nonetheless gaining 86% since the year’s turn.

XRP year-to-date (YTD) price chart. Source: Finbold

Conclusion

All things considered, these digital assets have a strong chance of making it big in the next year, provided the sentiment around them remains positive and there are no unforeseen black swan events that could turn the tide. Still, carrying out one’s own research and weighing the risks is essential before investing.

Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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Disclaimer: Cardano Feed is a Decentralized News Aggregator that enables journalists, influencers, editors, publishers, websites and community members to share news about the Cardano Ecosystem. User must always do their own research and none of those articles are financial advices. The content is for informational purposes only and does not necessarily reflect our opinion.


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