The hype surrounding cryptocurrency investing and trading is at an all-time high today. More and more people are stepping into the world of trading every day and many don’t have the slightest clue about cryptocurrencies or trading. The market is not always kind to beginners and inexperienced traders often get their hands burned. The internet is filled with shady trading gurus and scam coins looking for their next victim. But there are some cryptocurrencies out there today that are worth investing in and holding on to the long term. Here we will have a look at some of the top cryptocurrencies to invest in 2024.
Bitcoin is the first and original cryptocurrency that led to the creation of a 2 trillion dollar market. The price of the coin has seen many ups and downs over the years and reached a peak of 69k USD in November 2024. The prices and the market of all other cryptocurrencies depend on the value of Bitcoin. Even though there can be plenty of fluctuations, it is one of the most stable cryptocurrencies. Bitcoin is currently being accepted as a legal way of payment in multiple countries. The future looks bright for Bitcoin and it is definitely one of the top coins to invest in 2024.
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Ethereum cryptocurrency was launched in 2015. It allows smart contracts and different applications to be built and run without any downtime. The ETH token can be used to trade, secure, and decentralize just about anything. Many popular cryptocurrencies like Tether, Chainlink, etc have been developed within the Ethereum ecosystem. There are many applications for the Ethereum tokens ERC-10 and ERC-20. Lately, the ERC-721 token has been the subject of the NFT craze. Ethereum has been at the forefront of all the latest developments in the crypto industry and looks poised to do so in the future, making it one of the worthy investments in 2024.
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The cryptocurrency Cardano (ADA) was developed by a man named Charles Hoskinson in September 2017. He is also one of the co-founders of the famous cryptocurrency Ethereum. Cardano also, like Ethereum, provides the facilities to develop decentralized applications and smart contracts. Some of the major characteristics of Cardano are scalability and interoperability, which not many other platforms can claim of. Another major highlighter of this cryptocurrency is its speed in conducting International payments.
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Binance coin (BNB) is the native token of the Binance network, one of the biggest names in the crypto industry. It ran initially on the Ethereum blockchain but was later migrated to Binance’s own blockchain. It is currently priced at $623.87. BNB currently has a market cap of over a hundred million USD. With the increased popularity of the Binance exchange, Binance DEX, and its two blockchains Binance chain and Binance Smart Chain, BNB is expected to continue its reign as the top cryptocurrency in the world after Bitcoin and Ethereum.
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Polkadot enables blockchains to transfer all kinds of assets or data between them. This has led to making a lot of blockchains interoperable with each other. Interoperability is the key to developing a decentralized internet regulated by users, and easing the production of new apps and services. Polkadot has the ability to process multiple transactions on several chains at the same time. This feature considerably increases the scalability of the whole network. The cryptocurrency DOT is currently priced at $46.06 and has a market cap of over 45 billion USD.
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Solana is a cryptocurrency that has become hugely popular recently. It has quickly made its way to the top 10 cryptocurrencies today courtesy of the recent hype surrounding NFTs. Solana is a high-performance blockchain that supports NFTs, DApps, and smart contracts. The transaction speed is very high compared to other popular blockchains. Using the more eco-friendly proof of stake mechanism for consensus is also a plus point of the platform. Its native token SOL is currently priced at $227.81 and has a total market cap of 68 billion USD.
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Ripple was introduced in the year 2012 and currently has a market cap of $42,520,098,965. The Ripple system has been integrated into banks and payment networks to reduce costs. It is especially known for its strong focus on the banking market and real-time settlement functionalities. Ripple cannot be spent on services and goods as compared to others. It is also an alternative currency hence no retailing universe accepts ripple directly, yet it is used for trading and exchanging. Ripple is also a transaction protocol for Global Payments.
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Polygon can be defined as an interchain scalability solution that provides a platform for developing blockchain networks that can interlink with each other. It aims to gain the flexibility and scalability qualities of alternative blockchains along with the safety, liquidity, and interoperability of the Ethereum blockchain. The Polygon network is made up of several associates, including developers, clients, stakeholders, and much more. Polygon is widely used to implement and collaborate with various Ethereum-based dapps. The Polygon network is a lot cheaper and faster than other networks.
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Decentralized finance is one of the latest trends in crypto and Uniswap is the most popular DeFi trading platform. It uses the automated market maker protocol to provide liquidity to users. The platform aims to make trading automated, open for everyone, and provide better efficiency than traditional exchanges. Uniswap has solved the liquidity issues which limited the early DeFi platforms using its automated market maker model. The cryptocurrency is currently priced at $16 and has a market cap of $10,079,462,870.
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Chainlink is a platform that facilitates the creation of interconnected smart contracts between blockchains. This is performed using a decentralized oracle network that permits blockchains to safely process external components needed to complete complicated smart contract agreements. The community of Chainlink is made up of large numbers of operators, developers, researchers, etc. Its cryptocurrency LINK is currently priced at $20.1 and has a market cap of $10,042,619,386. The real-world applications and increasing popularity of smart contracts make Chainlink one of the best coins to invest in 2024.
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Here, you can look into some interesting questions related to the top 10 cryptocurrencies for your reference.
1. Why bitcoin is the topmost cryptocurrency among top 10 cryptocurrencies?
Concerning the market capitalization of all the cryptocurrencies, Bitcoin has the largest market capitalization of more than $100 billion so it is most accepted and easy to trade and also possesses a large community of investors.
2. Which is the best cryptocurrency that can be used to build smart contracts?
Ethereum is the best cryptocurrency that can be used to build smart contracts
3. Which cryptocurrencies offer zero transaction fee?
Litecoin and IOTA are the two cryptocurrencies which offer zero transaction fee
4. Which are the best cryptocurrencies in the top list to invest in 2024?
The best cryptocurrencies in the top list to invest in 2024 are as follows:
5. Which cryptocurrency in the top list is not based on the Blockchain technology?
IOTA is the cryptocurrency which is not based on the blockchain technology and it follows tangle which is based on mathematical acyclic graphs.
While Bitcoin is the most famous cryptocurrency out of the whole lot, there are many potential alternatives for investors out there. There are also many promising cryptocurrencies outside this list and these will constantly keep changing.
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