FREE REPORT7 Top A.I. Stocks for 2024
These three altcoins could deliver outsized returns for investors
ByTerel Miles, InvestorPlace ContributorMar 18, 2024, 7:12 pm EDT
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- Below are three of the best altcoins to consider in the 2024/2025 bull market.
- Maker (MKR-USD): Growing demand for its DAO platform and limited supply of the MKR token could drive the coin to new heights.
- Fantom (FTM-USD): Fantom is a potential ‘Ethereum Killer’ with its Lachesis consensus mechanism.
- Fetch.ai (FET-USD): The company received a $100 million investment to secure and deploy Nvidia’s (NVD) (NVD H200, H100 and A100 GPU’s for Fetch Compute.
The burgeoning cryptocurrency market thrives on innovation and disruption. While Bitcoin (BTC-USD) and Ethereum (ETH-USD) hold the top spots, many altcoins are vying for their position. These altcoins provide exciting possibilities for investors seeking high-growth potential.
However, navigating this new asset class and identifying the next breakout stars can be challenging. While institutions are more widely adopting Bitcoin, there are still security risks that could threaten the network’s long term stability. If you have an appetite for risk and a belief in global cryptocurrency adoption, these altcoins have tremendous potential for outsized returns.
Now, let’s discuss the three best altcoins that could deliver 20X returns by 2025.
Maker (MKR)
Maker (MKR-USD) is one of the best altcoins to buy with the next bull market underway. The crypto is a governance token of the MakerDAO platform, a decentralized lending protocol that powers the DAI stablecoin.
Maker is one of the top decentralized applications (dApps) on the Ethereum blockchain. Their DAI stablecoin is different from traditional stable coins pegged to fiat currencies and maintains its value through a unique method of collateralized debt positions. Users can deposit crypto assets as collateral to borrow DAI, a stablecoin pegged to the U.S. dollar. As DeFi continues to gain traction, Maker’s stablecoin issuance platform could translate into significant token growth. With a total supply of less than one million MKR tokens, scarcity is what could drive up the price as demand increases.
Fantom (FTM)
Source: shutterstock.com/ARTEMENKO VALENTYN
Fantom (FTM-USD), the native token of the Fantom Opera Network, is a platform used to address the scalability limitations of the Ethereum Network. Designed to utilize a consensus mechanism, Lachesis achieves faster transactions and lower gas fees than Ethereum.
Fantom’s ability to handle a high volume of transactions at lower costs gives the network a clear competitive advantage. Ultimately, this could attract more developers and users frustrated with Ethereum’s congestion issues. The network is also built to be interoperable, meaning it can share and transfer data between other blockchain ecosystems. This interoperability positions Fantom as a key player in the multichain ecosystem. Fantom’s development team is also developing a robust ecosystem of DeFi applications, decentralized exchanges (DEXs) and non-fungible token (NFT) marketplaces.
Fetch.ai (FET)
Source: shutterstock.com/Maurice NORBERT
Fetch.ai (FET-USD) has been riding the wave of the artificial intelligence renaissance. It is a unique altcoin that aims to bridge the gap between artificial intelligence and blockchain technology.
The Fetch.ai network facilitates a global marketplace for machine learning models and data. Users can access these models and data to develop intelligent applications across various industries. The open platform leverages LLMs to discover and route task execution to relevant AI services and agents. Furthermore, it allows users to securely buy, sell and share data, creating an entirely new asset class in the crypto space. They’re still in the early phases but recently secured $100 million in infrastructure investment to secure advanced AI GPUs from Nvidia. Fetch compute could be the catalyst to supercharge growth, making Fetch.ai one of the top altcoins to buy now.
On the date of publication, Terel Miles did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Terel Miles is a contributing writer at InvestorPlace.com, with more than seven years of experience investing in the financial markets.
Article printed from InvestorPlace Media, https://investorplace.com/2024/03/altcoin-jackpot-3-cryptos-that-could-deliver-20x-returns-by-2025/.
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