Guide to finding the top crypto projects to invest in 2024
Cryptocurrency is a form of digital currency used as a medium of exchange through a computer network that does not have a central issuing or regulating authority but instead uses a decentralized system to issue new units. Cryptocurrency is in the form of digital currency and not physical money in the real world, this currency exists purely as digital entries to an online database that shows specific transactions. As the name suggests cryptocurrency, uses encryption to verify transactions. This refers to advanced coding involved in storing and transmitting cryptocurrency data between wallets and public ledgers.
Cryptocurrencies operate on a distributed public ledger called blockchain, where the transactions are recorded and held by currency holders. Founded in 2009, the first cryptocurrency was Bitcoin and is the best known till today. According to the Economic Times, 2023 has been a good year for crypto investors, and with a continuous evolution in blockchain technology, several digital assets are emerging as top competitors poised to show a transformation in 2024. With the rapid growth of the crypto sector, here we have enlisted top crypto in which investors can invest
Bitcoin
Bitcoin being the first cryptocurrency in the world has the highest market capitalization. In May 2016, you could buy one Bitcoin for about $500 while in February 2024 a single Bitcoin’s price was around $43,118 which is a massive growth. The limited supply and the growing institutional adoption have made it safer for investors to invest in the crypto market.
Ethereum
Another Cryptocurrency, Ethereum has also seen tremendous growth. From April 2016 to the end of February 2024, its price increased from roughly US$11 to around US$2,342. Ethereum is one of the common platform for small contracts and dApps, and is the burgeoning field for decentralised finance (DeFi).
Binance Coin
With the launch of Binance Coin in 2017 it has expanded it’s trade and is one of the largest crypto exchanges in the world. In 2017 BNB’s price was just $0.10 and by February 2024, its price had risen to around $310.23. It can be used for trading, payment processing and even for booking travel tickets. It can also be traded or exchanged in other forms of cryptocurrency, such as Ethereum or Bitcoin.
Solana
Solana uses a unique hybrid proof-of-stake and proof-of-history approach to execute transactions swiftly and securely. With its launch in 2020, SOL’s price started at $0.77 and by late February 2024, its price was around $94.97. This has made it a strong contender in the high-performance blockchain space.
Cardano
Cardano, like Ethereum, enables smart contracts and decentralized apps.. Cardano built with meticulous research, has a secure and scalable blockchain. It is sustainable and smart contracts make it a long-term player in the crypto market.
With the Bitcoin ETF approval, 2024 may witness a great year for crypto enthusiasts.
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- Source: https://www.fintechnews.org/top-crypto-projects-to-invest-in-2024/
