The diversity of the cryptocurrency market can be confusing for the investor. What cryptocurrency should you invest into in 2024 to get the highest return?
In 2024, the price of bitcoin is record-high but this is not a surprise for those who keep track of the industry events. The surge in the price of the first cryptocurrency has brought public attention back to token investments. Let’s try to find out what cryptocurrencies look especially promising for investments in 2024.
What cryptocurrency should you buy in 2024?
The beginning of 2024 has been marked with an active growth of the crypto market. The demand for bitcoin in particular has contributed to the growth significantly. At the moment when the article is written, it costs US$ 73,000. We have to note that all the prices that we quote below hold only for the moment when the article is written. Cryptocurrencies are highly volatile and their prices may change. The same is true for bitcoin: it has known ups and downs. Anyway, bitcoin is considered a secure investment object.
Moreover, bitcoin halving took place at the end of April. This is a mechanism that is applied on a regular basis once every four years (approximately). The remuneration for each mined bitcoin is halved, which has always led to a price rise in the past.
As the backbone of a thriving ecosystem encompassing innovative projects like Pepe Coins and countless dApps, ETH has solidified its reputation as a reliable asset in the world of smart contracts.
Bitcoin Minetrix
Bitcoin Minetrix is a crypto project that uses a rare Stake-to-Mine model. The model allows earning remuneration in the form of bitcoins in exchange for purchasing BTC MTX project tokens. This unique approach avoids the need to purchase and install traditional mining systems and offers users a simpler way to mine bitcoin.
The pre-sale of the tokens was successful: the users invested US$ 12 million in the tokens while each token cost US $0.0138, which attracted active members of the crypto community. It is too early to predict how well Bitcoin Minetrix is going to do in the future because the developers still have to live up to their plans and list the token on popular exchanges.
Meme Kombat
Meme Kombat is a blockchain project that unites the meme world with competition arenas. According to the developers, the users can have unique gaming experience on the basis of a decentralized Ethereum network.
Meme Kombat Token (MK) lies in the foundation of the project and it serves as the main currency in the game ecosystem. Users can use MK to participate in battles, to make bets, and to earn a passive income. Today, the token sells at US$ 0.73, which is a 68% growth compared to a month ago.
XRP
XRP is a cryptocurrency and a protocol developed by Ripple Labs in 2012. In contrast to blockchains that are primarily used to develop dApps and various services, the goal of XRP has always been payment optimization and acceleration.
Ripple’s approach attracted the attention of banks and other financial institutions from all over the world. XRP allows making instant transfers, which makes it one of the most efficient blockchains in the industry. The transaction is confirmed within seconds.
In July 2023, the company came out the winner in a court dispute with SEC that accused it of illegal sale of unregistered papers. The hearings had been going on for more than three years, which slowed down the growth of the token’s price. Right after the court case was closed, the price of XRP rose by 96%. Currently the token sells at US$ 0.96.
PAXG
PAXG is a cryptocurrency pegged to gold. The token makes it unnecessary to buy and store physical gold transferring the task to a transparent and secure blockchain platform.
PAXG also gives an opportunity for fractional ownership of gold. The price of the cryptocurrency is pegged to the price of gold and one token sells at US$ 2.15 at the moment. PAXG would be a good choice for an investor who is looking for a non-volatile token. Investing in it would be a way to save money rather than earn money.
Arbitrum
Arbitrum is a Layer 2 ecosystem of scaling products that is used for enhancing the functionality of Ethereum. The blockchain tools help to increase throughput and reduce transaction costs when dealing with ETH.
ARB tokens are used for ecosystem management. Their holders can participate in voting on key issues of Arbitrum development and renewal. The first 10 billion of ARB have been distributed among active users of the project by an airdrop (that is, tokens have been granted to users for free). The price of the cryptocurrency has been steadily growing since December 2023 and now it costs US$ 2.20 per token.
Cosmos Hub (ATOM)
Cosmos Hub is the first blockchain in the Cosmos ecosystem. Its developers believe that the Web3 world is too disconnected and users do not have access to efficient cross-platform solutions. This is the problem that Cosmos Hub helps to solve by providing secure connection between different blockchains.
Native token of the ATOM project allows users to impact the future of the network and obtain remuneration for storage. Similarly to Ethereum, the cryptocurrency uses the Proof-of-Stake model. Currently, 1 ATOM sells at US$13.66.
Hashflow Token (HFT)
Hashflow is a decentralized exchange (DEX) aggregator that gives liquidity to various blockchains. Special characteristics of the platform include the opportunity to exchange cryptocurrencies between blockchains without bridges, fixed rates, and protection against MEV-exploits.
HFT (Hashflow Token) is the ecosystem’s cryptocurrency that is used for project management and participation in the Hashverse gaming meta universe. HFT sells at many large exchanges including Uphold, Kraken, and Binance. Its price is currently US$ 0.51.
Cryptocurrency world: forecast for 2024
On the basis of the current trends and events, one can assume that the first half of 2024 is going to be positive against the background of the increasing price of bitcoin. Launch of the ETF has contributed to the growth in the amount of investment into the first cryptocurrency, which created a favorable atmosphere for the further rise of the entire industry.
On the other hand, the market may experience certain difficulties later. Halving makes the prices rise sharply but then price correction takes place as experience shows. When a large number of investors start selling their tokens, their price may go down.
The long crypto winter that has been going on since 2022 is finally over. The prospects of the crypto industry look good today.
