A number of cryptocurrency are going to be performing really well in 2024 and investors need to be ready for it. There are multiple factors that govern the market wallet of different cryptocurrencies which is why looking at trends and analyzing everything is important before investing.
There is no shortage of cryptocurrency in the market but very few of them promise profit in the long run. Choosing different cryptocurrency is a great way to diversify the investment portfolio and create a good amount of digital assets.
In this article we will mention all the new cryptocurrencies that are introduced in the market. We will also be telling how likely they are to explode in 2024 to provide great profits for all the members of the community.
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Ethereum
Source: marca.com
If there is one cryptocurrency which is dominating the market after Bitcoin it is ethereum. It is currently undergoing series upgrades by the developers that are going to make the platform more comprehensive and easy to use in the future. This coin has an approximate market share of 19%. It is easily the most explosive cryptocurrency currently in the market which will take all the investors by storm.
The developers were the first to put smart contracts which allowed multiple decentralized applications to be built on the platform itself. Many new cryptocurrencies are also based on the ethereum blockchain. You can know more at okx.com.
All of this leads to a good community ethic and makes this a worthwhile investment in this year. The team is constantly working to put in new upgrades which will make it the largest in the crypto market soon if everything goes as planned.
ApeCoin
Source: news.bitcoin.com
Since we are talking about the likely good of a cryptocurrency exploding in 2024, we cannot leave behind ApeCoin. BYAC became a market leader as one of the top NFT collections in the previous year which also solidified the position of the scripto coin in the market.
Many celebrities as well as business owners are investing in this cryptocoin due to large possibilities of growth. There are millions of investors currently involved with this cryptocurrency and it offers great returns in 2024. It is worth considering investing in this coin albeit a new token.
Solana
Source: medium.com
There were multiple dilemmas related to blockchain technology which Solana effectively solved. This platform upgraded the security features of cryptocurrency transactions while maintaining scalability and putting a strong foot in terms of decentralization as well. While some currencies put security as their strong suit, they fail at availability and decentralization.
It is a great investment opportunity directly after Bitcoin and ethereum. The developers are currently working to make it a platform for decentralized finance as well as for developing decentralization apps.
It is a clear comparator to ethereum which is why investors are banking on both of the cryptocurrencies so that they do not miss out on either. There are constant upgrades to maintain scale ability while improving usability and user experience. It is easily in the top five cryptocurrency to invest in.
Terra
Source: pumpdumpcoin.com
When it comes to unique selling points for a particular currency, we would list programmability as the one for Terra. It has a very strong community of investors and is chosen extensively in the decentralized finance industry.
The developers aim at creation of decentralized applications while handling the high price volatility related to crypto markets in general. Profit making will be easier because of the new upgrades that work according to the volatile system. Stable coin development is also underway.
This particular currency has come a long way as it was priced as less than 1 dollar per coin a few years ago. It reached its peak at 103 per coin in 2024. It is natural to expect that it will explode in 2024 and offer its investors enough profit. Experts estimate that the price of one coin will hit the 500 dollar mark before the end of 2025.
Cardano
Source: coingape.com
King Cardano is a relatively new cryptocurrency which is why including it in this list is important. The yield of this particular coin is enough to attract investors from all across the globe. It has implemented smart contracts and there is a possibility of a sharp increase in price per coin in 2024. Currently the coin is not priced at a high rate but it can easily reach $7 by the end of this year or the beginning of the next. It can even touch 8 dollars per coin as per the prediction of some experts.
Dogecoin
Source: cryptopotato.com
Apart from being a great meme, this is also a trip to currency which can take this year by storm by exploding. DOGE is the token for this currency and was always meant to be a joke. However, the hype continued to increase which made it a significant investment for many interested individuals. It wouldn’t be shocking if it explodes in 2024 as many investors have made serious contributions to the community.
There also has been significant institutional investment which can make this particular crypto white spread as a major means of transaction for daily use. The interest of Elon Musk is noteworthy. However we do have to mention that it is very volatile as of now and one should look into all the trends before making an investment. There are chances that it will explode but one still needs to be careful about the risk tolerance factor.
The Takeaway
All of these cryptocurrencies are popular enough to have a strong community. Everyone needs to understand that the market volatility will always impact the prices and whether or not they will explode in 2024.
Holding the coins in the wallet is probably the best bed as of now because the foundations of these coins are strong enough to give good returns in the future. Ethereum is already popular because of its high market share while Dogecoin was always a joke but now has the potential of giving good returns.
