The crypto market is expected to rally after the Bitcoin halving. Several experts anticipate that coins with high market capitalization will perform exceptionally in 2024. In this article, we will explore some of the top cryptocurrencies based on market valuation that you can consider buying now.
Bitcoin
BTC holds the top position with a market capitalization of over $1.2 trillion. After a long bearish phase, the coin began a massive upward movement a few months ago, reaching a new peak price of $73,700 in March 2024. Bitcoin has posted a 12-month growth of 153% and 1,750% in the past five years. Crypto analysts predict that the coin could hit $100,000 before the end of the year.
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Ethereum
Ethereum is the second-largest coin by market cap. It has a market valuation of $421 billion. ETH has seen its value grow by 98% over the past 12 months and 2,400% in the last five years. The rising popularity of the Ethereum ecosystem due to products like high-yield staking protocols, the ENS, and new token standards could help ETH hit new levels this year. Some analysts are optimistic that the token could reach $8,000 in 2024.
BNB
BNB powers the largest crypto exchange by trading volume, Binance. Holders of this token enjoy discounted trading fees on Binance. BNB is currently the fourth-largest coin, with a market cap of more than $85 billion. It has rallied 92% in the past 12 months and 3,600% in the last five years. BNB’s price prediction for this year is $1,000.
XRP
XRP has been in the market since 2012. Even though its issuer has engaged in legal battles with the United States Security and Exchange Commission, the token remains popular among investors. XRP is ranked sixth, with a market capitalization of $36 billion. It has grown by 11% in the past 12 months and 210% in the last five years. Its 2024 price prediction is $1.
Dogecoin
Like XRP, some crypto analysts believe Dogecoin will close the year trading at $1. Even though DOGE is just a meme coin, meaning it lacks utility, this fact has not discouraged investors from investing in the token, which boasts a market cap of over $28 billion. Dogecoin has rallied 183% in the last 12 months and 53,791% over the past five years.
Solana
Solana has been a top choice for Web3 developers in recent months. Several meme coins have been launched, with some hitting billion-dollar market caps. Solana plummeted massively in late 2022 after FTX collapsed but has since recorded massive gains. The token has grown 800% in the past 12 months and 22,222% since launching in 2020. It has a market capitalization of $81 million. Analysts anticipate a rally to $500 before December 31st.
Cardano
Cardano has put emphasis on sustainability, and its developers have continued to improve the blockchain to allow seamless deployment of smart contracts. Cardano is powered by the ADA token, which has surged 72% in the last 12 months and nearly 990% over the past five years. The token’s price prediction for this year is $2.
Tether
If you do not want to be exposed to market volatility, then Tether or USDT is the recommended token to invest in. As a stablecoin, USDT is expected to trade at $1 all the time. It is supported by all the leading exchanges, making it easy for people to bridge to crypto from fiat. Tether has a market cap of $104 billion.
Avalanche
Avalanche started rallying in late 2023. It’s now among the top ten cryptocurrencies by market capitalization. AVAX’s market valuation stands at $20.1 million. The token has rallied 204% in the past 12 months and 1,062% since launching in 2020. The growing network activity on Avalanche is expected to push the value of AVAX to $100 this year.
Conclusion
While the future of the leading cryptocurrencies remains positive, it is important to do your own research before buying any digital currency. Note that this article doesn’t constitute financial advice.