The overall cryptocurrency market is going down, mainly because Bitcoin’s price is having trouble staying above $40,000. Even though things don’t look great, some people believe there’s a chance for prices to go up, especially with factors like Bitcoin halving.
Even though people are feeling uncertain about the market now, some cryptocurrency projects might see their prices go up and reach new levels in 2024. Ruby Currency thinks these three cryptocurrencies could reach $10 in 2024.
Filecoin (FIL)
Filecoin (FIL) helps handle the increasing need for safe and affordable data storage. It offers a decentralized network as an option to regular cloud storage services. This means better security, cheaper prices, and more control for users.
As people worry more about keeping their data private and new Web3 apps become popular, Filecoin could become more valuable, possibly reaching $10 per token. Its value might go up if the market as a whole becomes more positive.
FIL did well in 2023, but the recent market drop has hurt its value. In the past week, the token’s price dropped by 15% to $4.96. It needs to get back to the $5 support level.
Lido DAO (LDO)
Lido DAO (LDO) makes it easier for people to join Proof-of-Stake blockchains like Ethereum. Instead of needing to set up complicated validator nodes, Lido lets anyone put their money together to earn rewards.
Lido is becoming more important in Ethereum, which could make LDO more valuable in the future.
Right now, LDO is being traded at $2.91, going up about 7% today. But over the week, LDO has dropped by more than 7%.
Arbitrum (ARB)
Ethereum, the main blockchain system, sometimes has too many users causing slow transactions and expensive fees. Arbitrum is a new solution that makes transactions faster and cheaper by building on Ethereum’s strong security.
As more people use Ethereum for decentralized finance (DeFi), Arbitrum’s ability to handle more transactions could make it very popular, increasing demand for its token, ARB.
Currently, ARB is being sold for $1.69, showing a 13% decrease in value over the past week.
Conclusion – There’s no sure guarantee that the value of these cryptocurrencies will reach $10 because many things like how prices go up and down and unexpected events affect the crypto market. But looking at the overall direction of decentralized storage, how easy it is to access DeFi, and how Ethereum can handle more transactions, it seems like FIL, LDO, and ARBI have a good future ahead.
Disclaimer – The information on this website isn’t investment advice. Investing involves risks, and you could lose money when you invest.
