Best Cryptocurrencies 2024 – Top Coins to Invest In

There are thousands of cryptocurrencies to choose from, so knowing which investments to make can be difficult. While one cryptocurrency can generate gains of 10x in the space of a week – another can become worthless overnight.

In this guide, we clear the mist by revealing the best cryptocurrencies.

We cover a wide range of cryptocurrencies – from established projects with solid utility to new meme coins that have the potential to explode. Read on to discover which crypto projects could generate the biggest portfolio gains in 2024.

Best Cryptocurrencies to Invest in 2024

Cryptocurrency investments should not be taken lightly. While the potential rewards are huge, so are the risks. Therefore, you’ll need to do your own research and analysis when selecting the best crypto to buy now. Read on to discover our viewpoints on the 10 cryptocurrencies listed above.

Our Methodology When Ranking the 11 Top Crypto to Buy

In this section, we offer insight into our methodology – which allowed us to rank the 11 best cryptos to buy from thousands of projects.

Type of Crypto Niche

Our meticulous research process covered a wide range of cryptocurrency types. After all, the most risk-averse way to invest in cryptocurrencies is to build a diversified portfolio.

• For example, we covered some of the best meme coins, such as Pepe Unchained and The Meme Games.
• We also discussed gambling-related projects like Scorpion Casino, not to mention play-to-earn ecosystems like Meme Kombat and Axie Infinity.
• This was in addition to metaverse projects and decentralized exchanges.

By owning a diverse selection of cryptocurrencies from multiple niches, you’re giving yourself the best chance of success. For instance, meme coins continue to lead the way in 2023.

As seen with Pepe, Pepe 2.0, Elon 2.0, and many other new projects – meme coins can generate significant gains in a very short period of time. However, the crypto markets can change gears at any time, meaning another niche might be the new flavor for investors. This is why it’s wise to invest in many different types of cryptocurrencies.

Market Capitalization 

When ranking the 11 best crypto to invest in 2024, our methodology covered small, medium, and large-cap projects. Once again, this ensures that your portfolio is well-balanced and that you cover all potentialities. It also enables you to target various risk-reward profiles, as the market capitalization can have a major impact on your potential to make or lose money.

For example, presale projects like Sponge V2 and Bitcoin Minetrix have a small market cap. This means that once they’re listed on exchanges, they will initially attract low liquidity levels. Put otherwise, small-cap cryptocurrencies can rise and fall significantly in a short period of time.

A recent example of this is Sui – which raised $22.5 million via its Kucoin presale allocation. Within a day of listing on exchanges, Sui had increased by over 1,600%. Since then, Sui has declined by almost 75% from its peak.

To counter the added risks of investing in small caps, we also discussed some well-known projects with much larger valuations. This included Ethereum, Ripple, BNB, and Uniswap. Although the upside potential is lower, so are the risks. That said, even established large caps are trading at huge bear market discounts, so there are still plenty of opportunities to make solid gains.

Token Use Cases  

Our methodology ranks crypto projects highly when their native token has at least one use case. If it doesn’t, then the likelihood of the project succeeding in the long run is slim. After all, there is no reason for people to buy the token, other than to sell it at a later date for a higher price.

If you look at the top cryptocurrencies by market capitalization, you’ll notice that the majority have an identifiable use case.

• For example, ETH and BNB are used to settle transaction fees on the Ethereum and Binance Smart Chain, respectively. When third-party projects build on these networks, they’re required to settle transaction fees in these cryptocurrencies. This gives them a solid use case and a reason to buy and hold the tokens.
• Similarly, XRP is used by financial institutions that are partnered with the Ripple payment system. XRP tokens provide near-instant liquidity on cross-currency transfers, such as pounds and euros or dollars and yen.

That said, some of the best small-cap cryptocurrencies discussed today also have a solid use case. For instance, we mentioned earlier that Meme Kombat has developed a gaming ecosystem for meme battles. Its native token, MK, allows users to place bets on battles to win rewards.

On the flip side, there are many successful cryptocurrencies that have questionable use cases. For example, Alkesh Shah from BofA Securities – the investment banking arm of Bank of America, notes that Dogecoin has no use cases. Even so, Dogecoin is currently valued at over $8.5 billion.

Many cryptocurrencies – especially meme coins like Dogecoin, and Shiba Inu attract speculative investors who follow broader industry trends.

Tokenomics   

When researching the best crypto to buy now, our methodology also examined the ‘tokenomics’. In simple terms, this outlines the supply and demand metrics of a crypto project. For instance, the number of tokens that the project has created and how many are in circulation at any given time.

• Bitcoin, for example, has a total supply of 21 million tokens.
• According to CoinMarketCap, Bitcoin currently has 92.83% of its total supply in circulation.
• The balance is released incrementally every 10 minutes until 21 million tokens are in supply.
• After that, no more Bitcoins will ever be created.
• This represents solid tokenomics, as the Bitcoin supply is limited, predictable, and deflationary.

There are many cryptocurrency projects that have high-risk tokenomics. For example, some projects do not place a cap on the number of tokens that can be created.

This is like a company that constantly issues new shares, diluting current shareholder value along the way.

When reviewing the tokenomics, we look at many other important factors. For example, we particularly favor crypto projects that have a burning mechanism in place. This reduces the circulating supply of the tokens over time and thus – increases scarcity. There are several different ways that this can be achieved.

For example, Binance uses a portion of their profits to buy back their own tokens. The tokens are then sent to an inaccessible wallet, which removes them from the supply. This is a sustainable way of burning tokens.

Alternatively, some projects simply burn tokens that are yet to enter circulation. Not only does this have a limited impact on the value of the tokens but it’s not sustainable in the long run. After all, there are only so many tokens that the project has access to.

Where to Find the Best Cryptocurrency to Buy Today

It’s all good and well knowing what to look for when choosing the best crypto to buy now. But where do you actually find potential crypto investments? After all, there are thousands of crypto projects in the market.

In this section, we discuss some of the best ways to find suitable cryptocurrencies for your portfolio.

CoinMarketCap

Once a cryptocurrency is listed on an exchange, it’s usually imported into a data aggregation website. CoinMarketCap is the gold standard in this respect. CoinMarketCap extracts data from hundreds of cryptocurrency exchanges, such as Binance, Coinbase, KuCoin, and Bitstamp. This includes data for thousands of cryptocurrencies.

Each cryptocurrency will trade at a slightly different price depending on the exchange, which CoinMarketCap averages out based on volume and liquidity. This offers a snap shop overview of the cryptocurrency, in terms of pricing, performance, where it’s listed, the number of token holders, and the tokenomics.

Due to the sheer number of cryptocurrencies supported, CoinMarketCap offers many different ways to perform your own research. Short-term investors will often use the ‘Gainers and Losers’ tab. This shows the best and worst-performing cryptocurrencies over a set period. You can choose to view performance metrics based on 1 hour, 1 day, 1 week, or 1 month.

This allows you to discover the top cryptocurrency to invest in for your chosen strategy. Some investors will use CoinMarketCap’s ‘Trending’ tab. This ranks cryptocurrencies based on the number of searches and views. This can be a great way to find new cryptocurrencies that are generating a lot of hype.

DEXTools

Similar to CoinMarketCap, DEXTools is also a data aggregation website. The main difference is that DEXTools specializes in decentralized exchanges. This means that many coins on DEXTools are small-cap projects that are yet to be listed on centralized platforms. As such, DEXTools is ideal for finding undervalued gems that could be about to explode.

DEXTools currently supports over 2.1 million cryptocurrencies from 81 network standards. While you won’t be able to analyze all cryptocurrencies on DEXtools, it does offer handy filters to find the best projects. For example, you can view cryptocurrencies by their most recent social network update.

This allows you to get a first-mover advantage if a project announces a notable development – such as a token burn or new partnership. Some investors use the ‘Daily Gainers’ tab on DEXtools. Similar to CoinMarketCap, this shows you to best-performing cryptocurrencies over your preferred period.

You can also view ‘Hot Pairs’ which show trending cryptocurrencies based on views and searches. One of the best features of DEXtools is that it also supports trading. Once you’ve found the best crypto to trade – you can connect your wallet to complete the investment.

Popular Crypto Exchanges 

In addition to data aggregation websites, you can also go directly to the source – crypto exchanges. Tier-one exchanges offer lots of useful information that you can use to find the best crypto to invest in 2024. You can be sure the data is credible, as it’s based solely on activity made on the respective exchange.

For example, eToro – which is regulated by FINRA and other reputable licensing bodies, offers market sentiment charts. This shows you what percentage of investors are buying or selling a particular cryptocurrency.

eToro is used by over 30 million investors, so that’s a lot of useful data. In addition, eToro also gives buy, sell, or hold ratings for each supported cryptocurrency. This is based on eight of the most commonly used technical indicators. eToro isn’t the only tier-one exchange you can use to find the best cryptocurrency to invest in 2024.

For example, Binance lists the top gainers and losers, plus the leading cryptocurrencies for volume and searches. It also allows you to break down the best coins to buy for your preferred category – such as metaverse, layer 1, or AI. Many other popular exchanges offer similar data, such as KuCoin, Bitstamp, and Kraken.

YouTube Analysts  

We also found that YouTube is useful when searching for the best crypto to buy. There are many respected analysts and commentators who have a huge following – largely because they have a track record of consistently predicting the market.

Carl Runefelt – which is behind the popular YouTube channel ‘The Moon‘, specializes in technical analysis. While most of the focus is on Bitcoin, Runefelt also covers altcoins. Runefelt is also a seed investor in new cryptocurrency projects, so it’s worth keeping tabs on where he’s putting his money.

If you’re interested in finding the best crypto presales, we found that Jacob Bury has a wealth of information to share. Bury helps his growing YouTube audience find the next 10x cryptocurrencies. He likes to find presale campaigns before they launch, which often yields the most favorable entry price.

Over the past couple of years, Bury has made some hugely successful predictions on the best new crypto to buy. This includes Tamadoge, which did 20x after its presale. Before that, Bury recommended Lucky Block, which made presale gains of 60x.

• You can read more about upcoming ICOs here, where we discuss the best crypto projects to launch in August 2024.

Different Types of Cryptocurrencies: Which is Best in 2024?

We considered a broad range of categories when ranking the best cryptocurrency to buy now. Some cryptocurrencies fall into multiple categories, while others operate a unique niche.

Let’s explore some of the main cryptocurrency types so you can determine which is best for your portfolio.

Altcoins

Altcoins refer to all cryptocurrencies in the market – other than Bitcoin. This means that there are thousands of altcoins to choose from. This ranges from large caps like Ethereum, XRP, and BNB to small caps such as Pepe Unchained and The Meme Games.

Utility Tokens

Some investors prefer utility tokens when choosing the best coin to invest in. Utility tokens are cryptocurrencies that have an identifiable use case.

• For example, MK is a utility token, as it’s used to gamble on battles in the Meme Kombat ecosystem.
• BNB is also a utility token, as it offers discounted trading fees on the Binance exchange.

The majority of cryptocurrencies in the top 100 for market capitalization are utility tokens. The reason for this is simple – utility tokens can be used to access a particular product or service. There’s a reason to buy utility tokens rather than just to make money. In other words, utility tokens have the best chance of remaining relevant in the long run.

Meme Coins

When searching for the best crypto coin to buy, you’ll likely come across meme coin projects. Meme coins operate in contrast to utility tokens. This is because meme coins rarely have any use cases. In most instances, meme coins are based on a popular trend, character, or animal.

For example, the original meme coin – Dogecoin, is based on the Shiba Inu dog. This is also the case for Shiba Inu. And then there’s Pepe, which is based on Pepe the Frog.

On the one hand, meme coins do not represent rational investments. But the reality is that many meme coins have produced life-changing returns. Meme coins have a habit of creating hype and FOMO, which are key components for a cryptocurrency to explode. For instance, Pepe grew by over 7,000% in under a month earlier this year.

In the meantime, established utility tokens like Ethereum and BNB remained flat. We found that Pepe Unchained could be the next Pepe, considering it has raised over $6.8 million in a few months of the presale launch. However, meme coins are also a lot more risky than utility tokens – so it’s best to have realistic expectations. While your meme coin investments could do 10x or more – they can also become worthless overnight.

Stablecoins

Stablecoins are cryptocurrencies that are pegged to fiat currencies. They are created to retain their value in all market conditions. The largest stablecoin is Tether, which has a market capitalization of over $83 billion. The objective is for Tether to always remain at $1, give or take a small spread. Another popular stablecoin is USD Coin, currently valued at over $25 billion.

Although stablecoins aren’t purchased for price appreciation, there are still ways to make money. For example, you can stake stablecoins for passive rewards or lend them to decentralized exchanges to earn trading fees. In both instances, you can generate a yield without worrying about volatility. That said, stablecoins can lose their pegging – just like Terra USD did in 2022.

Staking Coins

Many cryptocurrencies operate on the proof-of-stake consensus mechanism. This means that users can ‘stake’ their tokens to earn passive rewards. In some cases, you’ll be depositing the tokens into the blockchain network itself. In doing so, you’ll be keeping the network secure and will earn a share of newly minted tokens.

Some projects have a fixed percentage of tokens that they set aside for staking. This means that the staking process doesn’t contribute to inflation. This benefits investors in the long run, as tokens cannot be sold while they are being staked.

DeFi Coins

Another popular cryptocurrency type is DeFi (decentralized finance) coins. These are ecosystem tokens that offer access to decentralized finance products.

For example, decentralized token swaps, liquidity farming, staking, and dual investments. Uniswap and SushiSwap are good examples of DeFi coins. Most DeFi coins also offer governance rights, meaning holders can vote in key proposals.

Conclusion

In summary, we’ve ranked 11 crypto projects that could outperform the market in the coming months. For maximum upside potential in 2024, we particularly like Pepe Unchained ($PEPU).

This is a new Pepe-themed meme coin that is built on Ethereum’s layer-two blockchain. $PEPU, the native token, can also be staked to offer high staking rewards.

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