Best Crypto to Invest in 2024: Top Cryptos to Buy Now | LiteFinance (2024)

Cryptocurrency markets face uncertainty in 2024, yet crypto remains alluring to investors seeking lucrative returns. This article provides a timely, expert-led analysis of the top cryptocurrencies to buy now amidst crypto market volatility.

Beginning with an overview of market conditions, the article will guide investors through a well-researched list of highly promising crypto assets. From blue chip cryptos like Bitcoin and Ethereum to newer altcoins and meme coins boasting exciting real-world use cases, readers can expect an in-depth look at the best cryptocurrency projects to invest in for 2024 and beyond.

Whether a seasoned crypto trader or just entering the dynamic world of blockchain assets, this article aims to give every investor the most up-to-date information on today's leading crypto contenders. The coins and tokens highlighted represent some of the best risk-reward ratios the market currently offers according to intensive, data-driven analysis of cryptocurrency fundamentals.

Overview Of Current Crypto Market Landscape

The crypto market has seen tremendous growth over the past decade, with the total market capitalization skyrocketing from virtually nothing to over $1 trillion at its peak. However, 2022's crypto winter has led to a significant cooldown, with many major cryptocurrencies nursing 50-90% losses.

Yet this bear market obscures crypto's immense potential to transform finance and unlock new economic opportunities. As the market matures, factors like real-world utility, innovative tokenomics, and clear regulatory frameworks will likely separate winning projects from short-term fads.

Critical areas of focus for evaluating top crypto contenders in 2024 include:

• Adoption metrics like active users and transaction volume;

• Development activity for improving crypto networks;

• Token use cases within or outside the crypto ecosystem;

• Risk-adjusted return potential.

Major Crypto Market Trends

Several key trends are positioned to shape crypto markets in 2024:

Decentralized finance (DeFi) will likely continue growth, with total value locked exceeding $100 billion. As DeFi aims to recreate traditional financial services on blockchains, expect advancements in lending/borrowing, trading, insurance, and more. Leading projects like Aave and UniSwap should benefit.

Non-fungible tokens (NFTs) also have room for expansion, especially as metaverse projects like Decentraland and Sandbox create NFT-based virtual worlds. The market for digital collectibles and in-game assets could reach over $80 billion by 2024.

Regulation will remain a decisive factor, as increasing government oversight adds legitimacy but also uncertainty. The EU's MiCA regulations and US SEC actions could especially impact prices and availability for crypto investors.

Ultimately the crypto titans like Bitcoin and Ethereum seem poised to benefit from most major trends playing out through 2024. But agile altcoins focused squarely on leading areas like DeFi or NFTs also offer big potential upsides.

Methodology For Selecting Top Cryptocurrencies

A systematic methodology was used to select and analyze the top 12 most promising cryptocurrencies across sectors like DeFi, NFTs, layer 1 platforms, metaverses, and more. The crypto rating criteria developed considered factors such as:

• Market opportunity, capitalization, and liquidity indicating strong interest;

• Proven utility, adoption metrics and real-world traction;

• Technological innovation and leadership within their crypto niche;

• Strength of the founding development team and activity.

Based on analysis of the above core factors, the top 100 cryptocurrencies were evaluated and rated to determine the top 12 that demonstrate solid fundamentals and investment potential. The following report provides an in-depth analysis on the cryptocurrencies selected through this crypto rating process and ranking methodology.

Market Capitalization And Liquidity

Market capitalization and liquidity are key factors when analyzing cryptocurrencies to determine strong interest and real-world usage. The crypto assets selected for this analysis rank within the top 100 by market cap, indicating substantial investment interest. High liquidity across major exchanges like Binance and Coinbase also signals easier tradability.

Utility And Adoption

Cryptocurrency projects with proven utility and real-world adoption better demonstrate long-term viability rather than promises of potential usage. The crypto assets selected provide utility through active platforms, products or services driving adoption such as:

• Number of users or active addresses;

• Transaction volumes indicating platform activity;

• Integrations with external apps and services;

• Developer activity building on top of the network/protocol.

Innovation And Sector Leadership

The cryptocurrency market has expanded well beyond Bitcoin to include innovative projects across sectors like decentralized finance (DeFi), NFT marketplaces, layer 1 smart contract platforms, oracle networks, and more. The featured crypto assets represent leaders and innovators within these niches pushing the larger crypto ecosystem forward.

Team And Development Activity

Strong teams with backgrounds in fields like cryptography, engineering and economics increase likelihoods of driving continuous innovation and adoption for their crypto projects. Ongoing code development activity demonstrates continued commitment and maintenance from respective developer communities.

1. Evaluated team credentials, experience and track records for indicators of ability to execute on long-term roadmaps.

2. Analyzed Github activity for signs of continuous development ensuring projects are being maintained and advanced.

Top 12 Cryptocurrencies To Buy Now

This report identifies the top 12 most promising cryptocurrencies to consider buying now to hold in long-term crypto portfolios. The recommendations aim to showcase a diverse collection of crypto assets that provide broad exposure and upside potential heading into 2024. The list contains major established coins like Bitcoin and Ethereum alongside budding innovators and sector leaders solving various needs enabling Web3 ecosystems.

Whether just beginning your crypto journey or looking to expand your holdings, this cross-section features cryptocurrencies powering key pillars like decentralized finance (DeFi), NFT marketplaces, interoperability, scalability, oracles, layer 1 platforms and more. The following analyses take deeper dives into what gives each of these cryptocurrencies long-term investment merit.

1. Bitcoin (BTC)

As the first and largest cryptocurrency by market capitalization, Bitcoin (BTC) pioneered decentralized digital currencies and paved the way for the explosion of crypto adoption and innovation seen today. Launched in 2009, Bitcoin set out to revolutionize money as a scarce digital asset secured by cryptography and a public blockchain network rather than centralized third parties.

Over the past decade, Bitcoin has established itself as a legitimate store of value and inflation hedge comparable to digital gold. Recent developments like the approval of Bitcoin exchange-traded funds (ETFs) demonstrate the growing endorsem*nt of major financial institutions.

• Bitcoin's market cap now exceeds $1.022T.

• In 2022, Bitcoin became legal tender in El Salvador and the Central African Republic.

• Major Wall Street banks now provide crypto custody, trading and credit services involving Bitcoin.

• Bitcoin ETFs finally approved in 2021 sparked surges in investment exposure from pensions and hedge funds.

With swelling mainstream adoption, Bitcoin remains the gateway into the broader cryptocurrency space making it a strategic long-term portfolio holding.

2. Ethereum (ETH)

Ethereum (ETH) is the leading smart contract blockchain enabling developers to build and deploy decentralized applications (dApps) of all types. Launched in 2015, Ethereum brought programmable money and self-executing digital agreements to life via its revolutionary smart contract functionality. This opened the door to major DeFi, NFT, metaverse, gaming and Web3 innovations across a ballooning network valued at over $337 billion. Ethereum powers an entire ecosystem economy on track to soon surpass legacy Web 2.0 giants.

• Over 3,000 dApps have launched on Ethereum across crypto sectors.

• ETH processes an average 1.5 million transactions per day, 4x more than Bitcoin.

• Ethereum request for comments (ERC) token standards enabled the NFT and metaverse boom.

• Vitalik Buterin’s blockchain processes $50 billion per day at peak, more than PayPal.

An Ethereum ETF approval appears imminent given crypto adoption trends. Alongside Bitcoin, Ethereum remains an essential blue chip holding set to drive new digital economies this decade.

3. Solana (SOL)

Solana (SOL) has emerged as one of the fastest and most scalable smart contract platforms that also maintains low fees, making it attractive for building decentralized apps and services.

Launched in 2020, Solana utilizes a unique proof-of-history consensus to achieve transaction speeds upwards of 50,000 TPS with capacities to scale further.

• Solana network activity continues setting new highs with over $5 billion in daily transactions;

• Over 13 million SOL addresses now exist indicating growing developer and user adoption;

• More than 5,000 Solana projects span DeFi, NFTs, Web3 areas;

• Backed by elite VC firms, Solana surpassed $50 billion in market cap at peak.

Positioning itself as a “Ethereum Killer,” Solana presents an appealing blockchain alternative equipped for the influx of users and data facing future crypto economies.

4. Avalanche (AVAX)

Avalanche (AVAX) stands out as a high-performance layer 1 blockchain delivering blazing fast 4,500+ TPS speeds with sub-second finality. Launched in 2020, Avalanche utilizes innovative consensus protocols enabling Ethereum Virtual Machine (EVM) compatibility so developers can easily port projects from Ethereum.

• Over 350 Ethereum projects have migrated to the more scalable Avalanche.

• The network now processes over 2.9 million transactions per day.

• Avalanche Rush initiative provides over $180 million to support new dApps.

• Avalanche Foundation developing a bridge hub for interconnecting crypto ecosystems.

With expansive throughput capabilities compared to rivals, Avalanche presents a next-generation smart contract platform equipped to power the demands of Web3 and the metaverse economy moving forward.

5. Binance Coin (BNB)

Binance Coin (BNB) is the native utility token of the Binance ecosystem, specifically serving as the native asset for Binance Chain while fueling operations of the world's largest cryptocurrency exchange. BNB provides several benefits to Binance traders including reduced fees, access to token sales via Launchpool, and more.

1. BNB can be used to pay for trading fees on Binance Exchange at discounted rates.

2. New token projects conduct launches and liquidity bootstrapping pools using BNB.

3. Binance Pay allows merchants to accept BNB payments for products/services.

4. Trust Wallet acquisition brought BNB staking through the top crypto wallet.

With new use cases continuously added, BNB maintains integral roles throughout the thriving Binance ecosystem that has grown into the best crypto to buy and blockchain infrastructure provider worldwide.

6. XRP

XRP positions itself as an efficient digital asset for global payments and liquidity optimized for major financial institutions and remittance companies. Originally created by Ripple, XRP offers settlement in 3-5 seconds at fractions of a penny compared to high fees and slow processing with legacy cross-border systems.

1. Ripple continues signing new financial partners, with total customer count now surpassing 300.

2. Major exchange Bitso saw over $1.2 billion XRP volume indicating expanding liquidity.

3. Landmark deal brought XRP to the United Arab Emirates for instant remittances.

4. XRP now has a presence on mainnet and testnet for central bank digital currencies.

Despite past legal issues, XRP continues exhibiting more real-world utility for transacting value across borders than most cryptocurrencies. With swelling adoption, XRP appears positioned as a long-term option for diversifying crypto portfolio exposure.

7. Uniswap (UNI)

Uniswap pioneered decentralized trading by utilizing liquidity pools and an automated market maker model instead of traditional order books. Launched in 2018, Uniswap eliminates centralized intermediaries so users can swap ERC-20 tokens in an open, transparent and highly efficient manner. This rocketed Uniswap to the top decentralized exchange (DEX) by volume.

1. Uniswap currently processes over 50% of all DEX volumes, averaging $1 billion daily.

2. Over 250,000 unique addresses interact with Uniswap per week and climbing.

3. UNI token airdropped to users incentivizes providing liquidity to pools.

4. Recent v3 upgrade brought concentrated liquidity for capital efficiency gains.

Uniswap stood as the gateway into decentralized finance's explosive emergence. With non-custodial on-chain trading aligning with crypto's ethos, expect Uniswap to remain an integral infrastructure for trustless peer-to-peer exchange between both crypto assets and traditional financial instruments this decade.

8. Polkadot (DOT)

Polkadot seeks to fuel a more connected, interoperable blockchain ecosystem allowing varied networks to seamlessly share data and transactions via its relay chain. Founded in 2020 by Ethereum co-founder Gavin Wood, Polkadot tackles major crypto adoption barriers related to fragmented infrastructure and siloed chains.

1. Parachains connect as customizable parallel blockchains with cross-chain composability.

2. Over 100 projects await parachain slot auctions including big names like Acala and Moonbeam.

3. Polkadot parachain launches lag expectations amidst unproven token economics.

4. Major exchanges recently added DOT support as investors gain interest.

If crypto is to reach mainstream viability as Web3 and the metaverse foundation, blockchains require straightforward communication and compatibility layers. Polkadot provides the envisioned environment for an open, collaborative crypto sphere to emerge. But it remains to be seen whether the product lives up to its promises to solve blockchain interoperability challenges with an elegant economic model.

9. Cosmos (ATOM)

Cosmos seeks to power an Internet of Blockchains via an innovative network of interconnected layer 1 chains, application-specific blockchains, side chains and more. Its Cosmos Hub launched in 2019 acts as a central conduit facilitating communication between varied sovereign chains. Developers build customized public and private blockchains using Cosmos SDK that still enable interchain operability with crypto networks globally.

Over 260 projects now operate across the Cosmos network, handling real-world data for enterprises and processing various blockchain transactions. As more discrete blockchains launch, Cosmos' core value lies in providing the flexible backbone connecting these independent ecosystems for exchanging tokens, data and logic as needed.

A recent Cosmos proposal to curb token inflation while better aligning staking incentives gained ecosystem approval, highlighting efficient on-chain governance. As blockchain utilization grows across industries, Cosmos’ vision for scalable, high-throughput connectivity between both public and private distributed ledgers makes ATOM a pivotal global economy infrastructure investment.

10. Litecoin (LTC)

Litecoin (LTC) stands as one of the earliest and most established altcoins building upon Bitcoin’s codebase as a fork while aiming to offer faster and cheaper on-chain transactions. Created in 2011 by former Google engineer Charlie Lee, Litecoin confirms payments around every 2.5 minutes versus 10 minutes for Bitcoin by utilizing a Scrypt-based mining algorithm. This pioneering alternative cryptocurrency has exhibited long-term staying power within the ever-expanding crypto industry.

Recent positive developments for Litecoin include a looming block reward halving in August 2023 similar to past events which preceded massive bull runs. Meanwhile LTC trading volumes on exchanges have surged over 20x year-over-year. Lastly, the Litecoin Foundation now pushes a “silver to Bitcoin’s gold” narrative as major financial players including Grayscale and Morgan Stanley Wealth Management roll out Litecoin investment products amid swelling institutional adoption.

With strong on-chain activity, an arriving supply shock event and growing Wall Street buzz, Litecoin appears poised to regain its status as a top 10 market cap cryptocurrency after losing rank over recent years.

11. Cardano (ADA)

Cardano brands itself as a third-generation blockchain uniquely utilizing evidence-based methodology in building a sustainable smart contracts platform. With foundations in peer-reviewed research, Cardano aims to address scalability, interoperability and sustainability issues facing predecessors. An eras-based roadmap sees methodical technological improvements enacted through sequential hard forks before new capabilities launch.

The Alonzo hard fork in 2021 introduced smart contracts functionality, enabling growth of the Cardano decentralized app ecosystem. Despite academically rigorous standards driving development, critics argue that pragmatic velocity remains lacking as Cardano progresses visions for an inclusive operating system to bank the unbanked.

Still, transparency around improvements backed by high quality cryptography scholarship instill confidence in Cardano’s methodical approach towards securing dominant blockchain adoption long-term through a principled process. Broad messaging around shaping equitable governance also resonates with many investors philosophically aligned.

12. Toncoin (TON)

Toncoin (TON) represents the rebranded native cryptocurrency powering the Telegram Open Network — an ambitious layered blockchain ecosystem originally conceived in a record-setting 2018 ICO before associated legal troubles. With founders Pavel and Nikolai Durov now distanced, TON emerged anew in 2021 as The Open Network focused on next-generation scalability, speed and smart contract functionality.

Leveraging innovations like sharding, instant hypercube routing and a proof-of-stake 3D consensus mechanism, TON aims throughput upwards of millions of transactions per second. 2022 brought mainnet launch, staking activation, growing protocol adoption and surging developer activity including partnerships, platforms, integrations and applications built on top of TON across crypto, social, gaming and creative spaces.

If innovatively materializing promises of an efficient, sustainable Web 3.0 blockchain structure, TON could still realize former hype with an engaged grassroots community advancing an independent open-source network.

Tips For New Crypto Investors

As cryptocurrency captures mainstream attention and nears $2 trillion in total market value, many first-time individuals wonder about dipping toes into the emerging digital asset class yet remain overwhelmed navigating risks. When starting out, focusing on fundamentals can help ensure accessibility, liquidity and positive user experience. Consider the following tips:

1. Open an account with widely trusted exchanges like Coinbase or Gemini enabling easy sign-up requiring only basic personal information. These platforms serve as central hubs providing access to many popular cryptocurrencies.

2. Stick with established coins that dominate market cap rankings like Bitcoin and Ethereum ensuring ample liquidity. Review trading volumes across exchanges to confirm active buying and selling activity.

3. Favor tokens with abundant fiat trading pairs like BTC/USD or ETH/USD allowing direct purchase via familiar currencies rather than more complex crypto-to-crypto exchanges.

While understanding blockchain technology learning curves exist, convenient user interfaces increasingly accommodate first-timers. Still, dangers persist related to scams, hacks and regulatory uncertainty so proceed with measured caution. Maintain skepticism around overnight riches guarantees and claims seeming too good to be true. As with any investment, never risk more than reasonably affordable loss while gradually scaling knowledge, participation and positions over time.

Best Cryptocurrencies For Long-Term Investors

For hands-off investors wanting core crypto exposure for 5-10 year time horizons, Bitcoin (BTC) and Ethereum (ETH) remain safest given their market dominance and continual mainstream adoption.

1. As the flagship digital currency, Bitcoin acts as a gateway into broader crypto investing while maturing as a scarcity-driven store of value.

2. Ethereum powers decentralized application functionality that Web 3.0 and metaverse innovations rely on for the foreseeable future.

While flashy upstarts present alluring speculative upside, BTC and ETH represent blue chip cryptocurrencies cementing institutional roles and demonstrating more stable valuations ideal for simple set-and-forget crypto allocations. Consider maintaining at least 50% combined Bitcoin and Ethereum long-term holdings.

This foundational crypto portfolio base mirrors what many corporations and funds now deploy for maintaining digital asset exposure through market cycles. Both present strong infrastructure likely to exist a decade from now.

Conclusion

When building a cryptocurrency portfolio, Bitcoin and Ethereum remain the most solid long-term holds for any investor. Representing over 50% of total crypto market capitalization, these blue chip assets offer stability amidst a volatile landscape of speculative tokens. Beyond foundational BTC and ETH allocations, further diversification requires deeper analysis into factors like adoption, utility, team credentials and market conditions to determine promising altcoins for potential outsized gains.

Ultimately optimal crypto buys depend largely on individual risk tolerance. Yet even for risk-seeking speculators, maintaining core positions in Bitcoin and Ethereum provides a bedrock base benefiting from continuous infrastructure improvements and swelling mainstream legitimacy over forthcoming years. While nascent innovations hold exciting potential, the crypto pioneers continue cementing institutional roles for the digital economies ahead.

The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteFinance. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.