Best Cryptocurrencies 2024 – Top Coins to Invest In

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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.

The Best Cryptocurrencies to Invest in Shortlisted

In our view, listed below are the 12 best crypto to buy now:

  1. Smog (SMOG) – Overall best crypto to buy now. Get airdrop prizes and 42% staking APYs with this meme coin. 
  2. Sponge V2 (SPONGEV2) – Top meme coin has released an upgraded token version. Get 198% staking APYs.
  3. Bitcoin Minetrix (BTCMTX) – New stake-to-mine crypto offers BTC mining rewards. Over $10.7 million raised.
  4. Meme Kombat (MK) – Popular meme coin offers an all-in-one gaming ecosystem. Get 109% staking APYs.
  5. Scorpion Casino (SCORP) – Top-rated cryptocurrency gambling casino token. Over $4 million raised.
  6. Ethereum (ETH) – Biggest altcoin in the world. Popular blockchain for decentralized applications. $300 billion market cap.
  7. Ripple (XRP) – Top #10 crypto by market cap, used to settle cross-border transactions with global banks.
  8. Uniswap (UNI) – Native token of one of the biggest decentralized crypto exchanges in the world.
  9. Axie Infinity (AXS) – Popular play-to-earn gaming crypto ecosystem. Up by 6,000% since token launch.
  10. BNB (BNB) – The native token of the Binance exchange. BNB is the 4th largest crypto by market capitalization.
  11. Decentraland (MANA) – Metaverse crypto built on the Ethereum blockchain. $855 million market cap.
  12. SushiSwap (SUSHI) – Native token of a popular decentralized exchange that supports anonymous token swaps.

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 12 cryptocurrencies listed above.

1. Smog – Overall Best Meme Coin to Buy Now

Our #1 pick for the best cryptocurrency to by now is Smog ($SMOG). This is a new meme cryptocurrency built on the Solana blockchain. $SMOG token holders are rewarded with huge airdrop prizes and staking yields. 

On February 7th 2024, $SMOG was launched straight to the Jupiter decentralized exchange (DEX). In under a week, the token’s market cap has soared from $2 million to more than $61 million. One of the reasons for this monumental success is the airdrop campaign. 

From a 1.4 billion token supply – Smog will offer 490 million tokens through airdrop rewards and prizes. By simply holding $SMOG – you can start collecting airdrop points. More points can be earned by completing tasks such as following Smog on its Twitter and Telegram channel

Smog has also introduced a staking mechanism – allowing token holders to earn more airdrop points, along with staking yields. At the time of writing, Smog offers 42% in staking annual yields. 

Smog staking

While the DEX listing has already taken place, another 10% of the token supply has been reserved for future centralized exchange listings. Aiming to become the next Pepe Coin in the meme space, $SMOG will heavily focus on marketing to push its growth. Therefore, 50% of the token supply has been set aside to market the project. 

Read the Smog whitepaper to learn more about this cryptocurrency. 

2. Sponge V2  – New Meme Token Version Offers 198% Staking Yields 

The next top cryptocurrency on our list is $SPONGEV2 – the new token version of the Sponge ecosystem. In 2023, Sponge burst into the meme space. Within just a few months, the token soared from a $2 million market cap to nearly $100 million. 

Now, Sponge is using the stake-to-bridge mechanism to connect existing token holders with the new V2 token version. This new token will offer staking yields and play-to-earn gaming opportunities. Your V1 tokens can be staked on the newly launched V2 smart contract – to earn an equal amount of V2 tokens. 

Sponge V2 homepage

Investors will generate yields for the next 4 years on their locked tokens. So far, more than 8.5 million tokens have been staked on the V2 smart contract – the current APYs are a staggering 198%. 

According to the Sponge V2 whitepaper, the new token will be offered as a reward on Sponge’s new play-to-earn gaming ecosystem. Sponge will release a racing game, where players can compete to climb up an online leaderboard. The best performers can win $SPONGEV2. 

Sponge P2E game

From a total supply of 150 billion – over 51% of the tokens are being allocated through P2E gaming and staking rewards. Learn more about this cryptocurrency by joining the Sponge V2 Telegram channel

Hard Cap NA
Total Tokens 150 billion
Tokens available in presale Depends on Staking
Blockchain Ethereum
Token type ERC-20
Minimum Purchase None
Purchase with USDT, ETH, Card

3. Bitcoin Minetrix – Stake-to-Mine Crypto Decentralizing BTC Cloud Mining, $10.7M Raised on Presale

Bitcoin Minetrix ($BTCMTX) is a revolutionary cryptocurrency project decentralizing the cloud mining space. The $BTCMTX token is used to offer tokenized credits and high staking yields. 

Through cloud mining, everyday people can earn a share of crypto mining yields. Currently, the cloud mining industry is plagued with fraudulent activities being run by third-party corporations. To solve this issue, Bitcoin Minetrix is offering tokenized cloud mining credits. 

Bitcoin Minetrix stake-to-mine

Investors can buy and stake $BTCMTX on an Ethereum-based smart contract and start earning the credits. You can burn the Bitcoin Minetrix smart contract’s credits and earn a portion of mining times. Thus, you can earn BTC mining revenues in a transparent and fair manner. 

$BTCMTX has a total supply of 4 billion – 2.8 billion tokens have been allocated for the ongoing presale. So far, $BTCMTX is priced at only $0.0134 per token. In just a few months, this presale has raised more than $10.7 million. 

Investors can also stake their tokens to earn APYs as high as 63%. Read the Bitcoin Minetrix whitepaper and join the Telegram channel to stay updated with this cryptocurrency. 

Hard Cap $32 Million
Total Tokens 4 Billion
Tokens available in presale 2.8 Billion
Blockchain Ethereum
Token type ERC-20
Minimum Purchase $10
Purchase with USDT, ETH, BNB

4. Meme Kombat – New Gaming Ecosystem With Meme Battles, Betting, and Staking Rewards, Presale Raised $8.6M  

Meme Kombat is a brand-new project building a decentralized gaming ecosystem. The main concept is as follows: Meme characters engage in battles, with results secured by the blockchain. As a Meme Kombat user, you get to place bets on who wins each battle. And if you guess correctly, you’ll earn crypto rewards – paid in MK tokens.

Meme Kombat battles are interactive and fun, and players will have plenty of betting options to choose from. Similar to a traditional sportsbook, each betting market will have its own odds. Moreover, bets can be placed before the battle starts or in-play – adding to the excitement for players. In terms of battle characters, some of the most popular crypto memes will be covered.

Meme Kombat presale

This includes everything from Doge and Floki to Pepe, Shiba, and Sponge. Each meme character will have its own traits, strengths, and weaknesses. These characteristics will determine the character’s odds of winning a battle. As battle outcomes are determined by smart contracts, the Meme Kombat ecosystem is transparent and fair.

In addition, Meme Kombat leverages artificial intelligence to ensure that battles are unique, complex, and completely random. There are two types of battle wagers that can be placed. First, there’s player-vs-player (PvP). This means that players will place bets against each other, adding a personal and competitive touch.

Alternatively, bets can also be placed on a player-vs-game basis. This means that bets are covered by the Meme Kombat ecosystem with fixed odds. Either way, bets are settled as soon as each battle finishes. In order to place bets on Meme Kombat, users will need to stake MK tokens. This is a smart move by the project, as it keeps a percentage of its circulating supply locked.

In other words, while tokens are being staked they cannot be sold. This is also beneficial for those staking, as passive rewards will be earned. Currently, Meme Kombat is offering staking APYs of 109%. If you’re looking to gain exposure to this new crypto project from the ground up – Meme Kombat has just launched its presale campaign.

Meme Kombat presale

50% of the MK token supply will be sold during the presale. The presale price is currently $0.279 per MK. So far, the presale has raised more than $8.6 million.

Hard Cap $10,000,000
Total Tokens 120,000,000
Tokens Available in Presale 60,000,000
Blockchain Ethereum Network
Token type ERC-20
Minimum Purchase 5 MK
Purchase with USDT, ETH, BNB

5. Scorpion Casino – New Presale Within the Crypto Gambling Niche  

Scorpion Casino is another gambling-related project that makes our list of the best crypto to buy right now. Its casino site is already live – covering games from the world’s leading software providers. This includes slots, table games, and live dealers from Evolution, Hacksaw Gaming, Wazdan, Microgaming, and GoldenRace.

Scorpion Casino accepts many cryptocurrencies – including Bitcoin, Ethereum, and XRP. There are no KYC procedures at Scorpion Casino, so players can gamble without revealing their identity. Nor is there a requirement to upload government-issued ID and other sensitive documents.

Scorpion Casino presale

Scorpion Casino is also attracting players for its generous sign-up promotions. It offers a 1 BTC bonus to casino players and 0.1 BTC in its sportsbook. Although Scorpion Casino has a fully-fledged product, it has only recently launched its crypto presales. This means that you can invest in Scorpion Casino at the lowest price possible.

However, the presale is selling fast – more than $4 million has been raised. Not only are investors bullish on the casino suite itself, but the presale offers a very generous package. You’ll currently pay just $0.029 per SCORP. Moreover, investments of at least $1,000 will secure an exclusive NFT – which comes with additional presale perks.

Token symbol SCORP
Presale supply 200,000,000 SCORP
Token type BEP-20
Payment methods ETH, USDT, BNB
Listing price $0.05

6. Ethereum – Established Blockchain Ecosystem Hosting Thousands of Decentralized Applications     

Ethereum is an established crypto project that was founded in 2014 and launched the following year. It has solidified itself as the world’s de-facto blockchain for decentralized applications (dApps). Known as ERC20 tokens, there are thousands of dApps built on the Ethereum network, making it the most popular blockchain of its kind.

Ethereum enables ERC20 tokens to leverage its smart contract capabilities. This enables projects to operate autonomously and securely. This includes everything from play-to-earn games and metaverses to NFT marketplaces and decentralized exchanges. All Ethereum-based projects have one common denominator – they pay network fees in ETH.

Ethereum price today

This means that every time a smart contract transaction is executed, demand for ETH increases. This demand will increase perpetually as more projects opt for the ERC20 standard. In terms of valuation, Ethereum currently has a market capitalization of $190 billion. This is down 65% when compared to the prior bull market. Therefore, investors can take advantage of a solid discount.

Cryptoassets are unregulated & highly speculative. No consumer protection

7. Ripple – Fast, Scalable, and Cheap Cross-Border Transactions for Financial Institutions  

Ripple has developed an innovative payment network for banks and other financial institutions. Through distributed ledger technology, Ripple reduces the friction and fees associated with cross-border transactions. In many cases, traditional network providers like SWIFT take several days to process transfers – especially when exotic currencies are involved.

In contrast – and irrespective of which currencies are being transacted, Ripple transfers take seconds to confirm. What’s more, transactions are virtually free. Each transfer costs 0.00001 XRP, which is an ultra-small fraction of a cent. This is the case whether $1 or $100 million is being transferred.

Ripple price chart

Ripple also has the capacity for global scaling – it can handle up to 1,500 transactions each second. Some of the financial institutions already using Ripple include Santander, Bank of America, and Standard Chartered Bank. That said, more banks could jump on board now that Ripple has won its prolonged court case with the SEC – which alleged that it sold unregistered securities.

Since the court ruling, many tier-one exchanges with a US audience have added XRP – including Coinbase and Bitstamp.  Although XRP is valued at approximately $27 billion, it’s trading at a fraction of its prior all-time high ($3.74). Currently, you’ll pay just $0.50 per XRP token.

Cryptoassets are unregulated & highly speculative. No consumer protection

8. Uniswap – Decentralized Token Swaps and Liquidity Rewards Across Multiple Blockchain Networks    

Uniswap is the home of decentralized trading. It allows users to swap tokens without needing another market participant. This is because Uniswap doesn’t use centralized order books. Instead, it uses liquidity pools to facilitate trades. Liquidity pools are funded by investors, who earn a share of the trading fees collected.

As a decentralized ecosystem, Uniswap doesn’t collect personal information from its users. This enables users to swap and earn crypto anonymously. No accounts are required, as users simply need to connect their wallet to the Uniswap platform. Uniswap is one of the largest decentralized exchanges in the market, as per CoinMarketCap data.

Uniswap price chart

Not only does Uniswap support multiple network standards, but it allows cross-chain functionality. This means that users can swap tokens across two different blockchains. This includes support for Ethereum, Polygon, Arbitrum, Binance Smart Chain, and Base. Uniswap is currently trading 90% below its all-time high. This offers an attractive bear market discount for first-time investors.

Cryptoassets are unregulated & highly speculative. No consumer protection

9. Axie Infinity – Leading Play-to-Earn Gaming Ecosystem Trading 97% Below its All-Time High     

Axie Infinity is the best crypto to buy now for exposure to play-to-earn gaming. The project shot to fame during the prior bull market – peaking at a market capitalization of over $9 billion. Axie Infinity also became the first NFT gaming platform to surpass $1 billion in sales. In a nutshell, the project initially requires players to mint a gaming character.

This is unique to the player and backed by an NFT on the Ethereum blockchain. Players can then use their NFT characters to enter battles. This enables players to win tokenized rewards. Players can also purchase in-game assets to boost their characters’ traits. Axie Infinity also has a marketplace, where players can buy and sell NFTs.

Axie Infinity price

However, although Axie Infinity remains one of the leading play-to-earn games, the value of its AXS token has since capitulated. CoinMarketCap notes that AXS is down 97% from its all-time high. If investors once again show an appetite for play-to-earn games during the next bull market, Axie Infinity has every chance of recovering. At current prices, the risk-reward outlook offers good value.

Cryptoassets are unregulated & highly speculative. No consumer protection

10. BNB – Deflationary Crypto With an Auto-Burn Mechanism Backed by the Binance Exchange      

BNB was launched by Binance in 2017 – the world’s largest exchange for trading volume and registered users. It was originally created to incentivize Binance traders with reduced commissions. Those paying fees in BNB pay 25% less in fees. Binance has extended to use cases for BNB to ensure it benefits from perpetual demand.

For instance, BNB is used to settle transaction fees on the Binance Smart Chain. It’s also used to provide liquidity for BSC tokens. Similar to Ethereum and ETH, BNB is required when smart contracts are executed in the Binance ecosystem. Binance has also implemented an auto-burn mechanism.

BNB price

Every quarter, it uses a percentage of its profits to repurchase BNB from the open market. It then transfers the tokens to a burn address – removing them from the circulating supply. This deflationary system increases investor value in the long run. BNB is the fourth largest crypto by market capitalization. At current prices, BNB is trading almost 70% below its all-time high.

Cryptoassets are unregulated & highly speculative. No consumer protection

11. Decentraland – Popular Metaverse Project Supporting NFT-Backed Real Estate Investments       

Decentraland is a metaverse project built on the ERC-20 standard. It comes with many features, including social exploration, play-to-earn gaming, and virtual events. Decentraland is also a pioneer of metaverse real estate investing. Here’s how it works; Investors explore the Decentraland universe to find a suitable plot of land.

After buying their desired plot, users can then build virtual real estate. There are no limitations, meaning users can build their dream home or business. Anything purchased and created is backed by an Ethereum NFT, ensuring that metaverse investments are secured on the blockchain. Investors can then sell their metaverse NFTs to other users, payable in MANA tokens.

Decentraland price today

According to Reuters, one Decentraland land plot sold for over $2.4 million during the prior bull market. In 2021 alone, more than $500 million worth of metaverse real estate transactions took place. Metaverse land valuations have since capitulated, just like MANA tokens. Today, you can invest in Decentraland at an all-time high discount of almost 95%.

Cryptoassets are unregulated & highly speculative. No consumer protection

12. SushiSwap – Undervalued Decentralized Exchange Trading at a 97% Discount From All-Time Highs

If you’re looking to take advantage of bear market prices, SushiSwap is one of the best crypto coins to buy. In a nutshell, SushiSwap is trading 97% below its all-time high. This was achieved in 2021 when SUSHI peaked at $23.38. Today, you can buy SUSHI tokens at under $0.59 each. This translates to a market capitalization of just $135 million.

For SushiSwap to recover its former peak, it would need to surpass a valuation of over $2.7 billion. One of SushiSwap’s main competitors – Uniswap, is currently valued at $2.5 billion. Therefore, it’s not beyond the realms of possibility for SushiSwap to make a full recovery during the next crypto bull run.

SushiSwap price today

Similar to Uniswap, SushiSwap offers decentralized trading and passive income rewards. This includes liquidity provision, where investors earn a percentage of trading fees. SushiSwap supports a wide range of network standards and facilitates cross-chain transactions. This includes Fantom, Ethereum, Arbitrum, Base, Polygon, and Binance Smart Chain.

Cryptoassets are unregulated & highly speculative. No consumer protection

Our Methodology When Ranking the 12 Top Crypto to Buy

In this section, we offer insight into our methodology – which allowed us to rank the 12 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 Smog and Meme Kombat.
  • 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 12 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.

Sui price

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.

What is Market Capitalization in Crypto?

  • Investors value cryptocurrencies in the same way as publicly traded companies – the market capitalization.
  • This gives crypto projects a value based on the number of tokens in circulation, multiplied by the current market price.
  • For example, suppose a crypto token is trading at $0.50. There are 50 million tokens in circulation. This means the project has a market capitalization of $25 million.
  • The larger the market capitalization, the more established the project is. Cryptocurrencies with a small market capitalization are often new projects that recently entered the market. This means the risks are higher, but so is the upside potential.

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.

Meme Kombat presale

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.

yPredict whitepaper

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.

Is it Good When a Crypto Has a Capped Token Supply?

  • Many investors favor cryptocurrencies that have a capped token supply.
  • The reason for this is simple – the tokens will not suffer from poor inflationary practices.
  • This is in contrast to traditional fiat currencies, which do not have a capped supply. Known as quantitative easing, central banks can print as much money as they see fit. This ultimately devalues the currency over time.
  • This is why it’s wise to focus on cryptocurrencies that cannot increase their maximum supply.

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.

What Are The Trending Cryptocurrencies On CoinMarketCap?

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.

How do you Trade on DEXtools?

  • If you’ve found the best new crypto to invest in on DEXtools – you can purchase the tokens directly on the platform
  • First, click on the ‘Connect’ button. Choose your preferred waller, such as MetaMask or OKX
  • Once your wallet is connected, search for the pair you can trade (e.g. PEPE/WETH)
  • On the left-hand side, type in the number of tokens you want to swap. The equivalent number of tokens will update, based on current prices.
  • Confirm the trade and DEXtools will execute it instantly. Your newly purchased tokens can be found in your connected wallet.
  • Make sure you disconnect your wallet before leaving the DEXtools website.

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 review

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.

Jacob Bury review

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 June 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 SushiSwap, Smog, and Sponge V2.

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.

Wall Street Memes presale

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 Smog could be the next Pepe, considering it has a market cap of over $61 million in under a week of release. 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.

Which Cryptocurrency Type is Best for me?

  • The irrationality of the cryptocurrency industry shows there isn’t necessarily a stand-out token type to invest in.
  • In theory, utility tokens offer the best long-term investment, as they have an identifiable use case.
  • However, meme coins – which often don’t have any use cases, have also produced huge gains in recent times.
  • Therefore, it’s best to hold a wide variety of cryptocurrency types to cover all potentialities.
  • This might include utility tokens, meme coins, staking coins, and presale tokens.
  • You. can also niche down further by covering different sub-industries. For instance, cryptocurrencies in the metaverse, play-to-earn, decentralized trading, and payment spaces.

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.

When is the Best Time to Invest in Crypto?

If you’re new to cryptocurrency, you might be wondering if now is a good time to invest. From a price perspective, the current crypto landscape offers an attractive time to enter the market. The reason is simple – cryptocurrencies are still trading at a huge discount when compared to their all-time highs.

This price depression began in November 2021 – when the broader markets peaked. Bitcoin and Ethereum, for example, hit highs of almost $69,000 and $5,000 respectively. Today, these cryptocurrencies are trading at approximately $26,000 and $1,600. As you work your way down the list of cryptocurrencies by market capitalization, you’ll see that other projects have seen even bigger declines.

This includes Uniswap (90%), Decentraland (95%), and SushiSwap (97%). In simple terms, you can now buy your favorite cryptocurrencies at a fraction of their previous highs. And by entering the market at a lower price, you’ll be getting a lot more tokens for your investment.

  • For example, if you bought SushiSwap at its peak in 2021, you would have paid $23.38 per token.
  • This means that a $500 investment would have got you just 21 tokens.
  • The same $500 investment today will get you 862 tokens.
  • Importantly, the cryptocurrency markets move in cycles. When the broader markets are down, the majority of cryptocurrencies decline.

This is often the best time to buy cryptocurrencies. This is similar to investing in the S&P 500 index during a stock market recession. Or buying oil futures when record lows during the COVID lockdown. However, there are no guarantees that cryptocurrency prices will recover. There’s also no certainty that another bull market will arrive. Always tread with caution and ensure you’re well diversified.

Conclusion

In summary, we’ve ranked 12 crypto projects that could outperform the market in the coming months. For maximum upside potential in 2024, we particularly like Smog ($SMOG).

This is a new meme coin that has launched straight on the Jupiter DEX. Within a few days, the token has soared from a $2 million market cap, to more than $60 million. The crypto project also offers huge airdrop prizes and staking rewards.

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By Kane Pepi

Kane Pepi is an established financial and cryptocurrency writer with over 2,000 articles, tutorials, and market insights under his belt. Kane has a reputation for offering concise explanations of complex financial matters due to his competence in specialized fields such as asset valuation and analysis, portfolio management, and financial crime prevention. He has a Bachelor's Degree in Finance, a Master's Degree in Financial Crime, and is now working on his Doctorate degree, which will focus on the difficulties of money laundering in the cryptocurrency and blockchain technology industries. Kane's abundance of knowledge and expertise in the sector make him an invaluable resource for anybody navigating the world of finance and cryptocurrency.