This was a great year for cryptocurrencies, and the trends will continue in 2024.
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This was a great year for cryptocurrencies, and the trends will continue in 2024. The acceptance of crypto is now much wider than before, and some traditional financial institutions that were once skeptical about crypto are now using it.
This boom goes beyond just the most popular cryptocurrencies, such as Bitcoin and Ethereum. This article will focus on the promising features of altcoins you should invest in. Many of these are variances of the cryptocurrencies that have been around for a while. Others, however, provide an innovative and unique approach and are, therefore, a hot new thing, with their long-term prospect being somewhat risky.
Before deciding what the best cryptocurrencies are, investors should carefully consider their goals and intentions. Some altcoins are better suited to investors who want to buy, hold, and wait for the profit to trickle down in the long run. Others are rising stars that are growing in user base and prominence but don't have the long haul in mind. These can also be lucrative if the investors get rid of them in no time.
Some cryptos are popular due to their innovative tech, and they often get absorbed by larger coins when they gain enough prominence.
We've included Bitcoin ETF tokens as a separate thing from Bitcoin itself because they legally are, and the value of one doesn't depend on the volatility of the other. ETFs are traded on the stock market like any other traditional financial asset. They are issued by Bitcoin. This way, investors who are otherwise skeptical of crypto can buy the ETFs just as they would any other stock or bond. They are not technically owning coins but a piece of the company that issues them.
It's the next big innovation in the world of cryptocurrency coins, as it allows crypto to become a part of traditional financial institutions.
The project features many rewards for early adopters. The most popular among these is the deflationary mechanism that will prevent the value of Bitcoin ETF from skyrocketing once more investors catch on.
Meme Kombat is one of the most unique altcoins out there. It's gaining popularity in the last couple of months, but it's mostly popular among those who are already very active online and in the world of cryptocurrencies. The coin combines the two most popular trends in crypto: memes and AI.
The project enables users to gamble on AI-generated battles between meme coin characters. Many game modes, massive community rewards, and traditional odds mechanics exist. It's a genuinely immersive gambling experience.
The price of the coin grows as the players that want to join in need keep adding the coins, increasing the price steadily and rapidly. The whole concept is fun but somewhat gimmicky, and it's not easy to figure out how long the novelty will last.
Avalanche is a scalable and decentralized layer 1 blockchain with a vast ecosystem. The most important use cases of Avalanche are DeFi and crypto gaming. In the short term, this has led Avalanche to skyrocket in value. The value is up 25 percent in a week over a hundred percent within a month.
This has put its coin, AVAX, ahead of the most popular cryptocurrencies, such as Bitcoin and Ethereum. There's a lot of hype around it, and the market cap is now set at $10 billion. However, it's important to note that such a growth can be just a blimp in the long run.
At this point, AVAX is only used to make transfers and not store value, as no one knows its value. The next big step for it will be to become a crypto you can just buy and hold.
Pepe is another meme coin that's been on the rise for a while now and in leaps and bounds. Pepe is a well-known right-wing meme most have seen online. The use of frog images or emojis became an online joke, and then it became a joke crypto coin. However, it has grown since and became an actual crypto coin with a broad user base.
Pepe reached highs of $0.000001141 on 10 November and then underwent another almost month-long consolidation. At this point, Pepe is one of the top-performing meme coins, even beating the most popular meme coin out there, Dogecoin. The market cap is set at $490 million.
As with most meme coins out there, it's not easy to figure out if the coin is here to stay or if it's just a silly online trend with some money behind it. Dogecoin has managed to become a real coin, but we don't yet know if Pepe will. Dogecoin's market cap is now over $ 1 billion.
TG Casino is different from other cryptocurrencies as it's a much more niche currency. It's used for one particular purpose: to gamble online without providing personal information. Even narrower than that, TG Casino is used for Telegram gambling only.
The $TGC token also provides numerous advantages to holders, like free rewards, access to exclusive games and rooms, 25% cashback on losses, up to 200% rakeback, and a 173% staking APY. There's a growing demand for it coming from online gamblers, and its price is growing regularly.
Niche cryptocurrencies can go big if they are covering a good niche. Gambling is a great niche because it's growing, and there's very little chance it will go away soon. However, niche currencies are also limited.
IOTA differs from other cryptocurrencies because it's been around for a long time and is already established among users. In 2017, IOTA was talked about as a cryptocurrency that would replace Ethereum, as the two are somewhat similar. In recent months, IOTA has had a surge.
Nevertheless, IOTA has gathered significant momentum recently, up 75% this week, with a $900 million market cap and price of $0.304.
IOTA will be used as the part of The Internet of Things, a growing niche that always includes more different features. It's a great currency to buy because there is tremendous upside potential, and it's proven to be able to bounce back.
XRP also differs from the currencies we mentioned before. It didn't have a considerable rise like many others we mentioned. However, it did have a steady rise of about 30 percent for months. This is equally impressive as a huge rise and, some argue, more difficult to achieve.
It is currently priced at $0.617, with a $33 billion market cap. XRP consolidated between $0.58 and $0.62 while the rest of the market soared. However, it's mostly known for its legal ruling that has had an enormous impact on cryptocurrencies in general.
The court decided that XRP isn't a security and that regulations around securities don't apply. Such legal clarity will have a huge role in the future of crypto.
All of the crypto coins on our list have unique features and advantages. This is making them a good investment for 2024. It will be an even more profitable year for crypto, and investors should plan for it. When cryptos are widely accepted, investors should jump on the opportunity.
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