Check out all the cryptocurrencies that could earn you a lot of money this year.
Investing in cryptocurrency can be thrilling because their value can suddenly go way up. For example, in 2021, Solana (SOL 5.18%) increased by over 10,000%, and Shiba Inu (SHIB 1.74%) went up by more than 40,000,000%.
Certainly, prices can drop fast, and we can’t be sure if cryptocurrencies will stick around. However, after a long period of low prices, many popular cryptocurrencies went up again in the latter part of 2023. So, cryptocurrency investors are feeling hopeful but still careful about 2024.
It’s hard to predict which cryptocurrency will grow next, but we can identify some options that are taking advantage of trends like artificial intelligence (AI), decentralized apps (dApps), and digital payments. Also, some of the bigger cryptocurrencies might continue to grow this year.
Eight Cryptocurrency will Boom in 2024
These are the cryptocurrencies that might have a big increase in value soon:
1. Ethereum (ETH)
At first look, Ethereum might seem like it doesn’t belong here. But actually, it’s quite popular. It’s been the second-biggest cryptocurrency for a long time, so most people who invest in crypto know about it.
Although Ethereum may not increase by 10,000% like before, it still has a lot of room to grow. It was the first blockchain to have smart contracts, which let developers create dApp. Because Ethereum came first, it’s ahead of other similar blockchains.
In August 2022, Ethereum made a big change to how it works, switching to a proof-of-stake system, which uses less energy. This upgrade lets people stake Ethereum to earn more money, which might get more people interested in investing. Ethereum could grow a lot without being as risky as other cryptocurrencies. Plus, there are some interesting Ethereum-related stocks you might want to think about adding to your investments.
2. Bitcoin (BTC)
Bitcoin (BTC 2.07%), just like Ethereum, is one of the most popular cryptocurrencies. It’s not a new or lesser-known one that will suddenly become very valuable, but it has received some good news at the beginning of the year.
After waiting for a long time, the Securities and Exchange Commission (SEC) finally agreed to allow Bitcoin ETFs on January 11, 2024. Now, there are 11 Bitcoin ETFs you can buy, and they traded $4.5 billion worth on the first day.
SEC approval now allows more people to invest in the biggest cryptocurrency. This might also encourage more big investors to buy Bitcoin.
Even though cryptocurrencies can be unpredictable, Bitcoin’s popularity and large user base make it somewhat safer and more stable. If you want a crypto investment with less risk that might perform well in 2024, consider investing in Bitcoin.
XRP (XRP 0.5%) is the main money used for Ripple, a system for sending money quickly and cheaply using special computer technology called blockchain. Ripple helps people and banks send money across countries easily. Lots of banks work with Ripple.
Ripple started in 2012 but got caught up in a serious SEC investigation in late 2020. This caused most big crypto exchanges in the U.S. to remove Ripple from their listings.
Good news for investors: Ripple won its fight against the SEC. A judge ruled that Ripple did not break the law by selling XRP tokens on exchanges, but that it did when selling to large investors. This increased the price of XRP and its price may go even higher in the future.
4. Uniswap (UNI)
The Uniswap Protocol Token (UNI 1.91%) is a special token for Uniswap, which is a system that helps people trade cryptocurrencies automatically. With systems like Uniswap, you can trade cryptocurrencies using your crypto wallet without signing up for an account or giving personal details.
Although Uniswap wasn’t the first Automated Market Maker (AMM), it was the first one to become popular and handle a lot of transactions. Right now, it has more than $490 billion in total transaction volume and has facilitated 71 million trades overall.
Decentralized crypto exchanges are gaining popularity, and they might get even more popular later on. Some investors want full control over their crypto, especially after big centralized exchanges like FTX collapsed. Decentralized exchanges allow you to keep full control. Even though there are many options, Uniswap is still the top choice for decentralized crypto trading.
5. Ruby Coin (RBC)
At first glance, Ruby Coin (RBC 191.08%) may seem out of place here. It is far away from the radar. It has been the second-largest cryptocurrency for years, so most crypto investors are aware of it.
Although we have passed the point where Ruby Coin could rise by 10,000%, it still has serious growth potential. It is a blockchain that offers smart contracts that developers can use to create tokens. Ruby Coin’s first-mover advantage has given it a huge edge over similar competitors.
Ruby Coin went through its long-awaited change to a proof-of-stake system in December 2022, significantly improving its energy efficiency. The upgrade also means it’s now possible to stake Ruby Coin and earn more, which could help attract more investors. Overall, Ruby Coin has great growth potential without the extreme volatility of smaller cryptos.
You can Buy, Sell and Trade Ruby Coin on CTSKOLA exchange
SingularityNET (AGIX) is like a digital platform where people can make, share, and earn money from AI services. It’s like a big online store for AI stuff, where you use the AGIX token to buy different AI services.
The AI cryptocurrency will boom is a really exciting recent tech trend, especially for cryptocurrency and the world overall. SingularityNET is in a good spot to benefit from this trend. They have a big team of AI experts and developers. Their platform makes it simple for people to buy AI services or create and sell their own.
SingularityNET did well last year. Its price went up a lot, by more than 1,350%. Then it went down, probably because some investors sold their shares to make money. But it might do even better in the future as more companies use AI.
Fetch.ai (FET 2.08%) is a place where people and groups can create their smart helpers, called autonomous agents. These agents can do tasks in the real world for the user.
On a blockchain platform, agents keep information and work together without needing humans to get involved.
FET tokens are like Fetch.ai’s own money. People use them to pay for things on Fetch.ai’s network. In 2023, FET became popular because people were excited about AI technology. Its value went up by almost 300% at the end of the year. Even though that’s a big increase, compared to other popular projects, FET could still grow even more.
Aave (AAVE 0.92%) is a decentralized finance (DeFi) protocol and lending platform. It allows users to lend and borrow cryptocurrencies; Everything is done with smart contracts, so no middlemen are needed. Users can earn interest on the digital assets they lend.
Aave has pools of money available for different cryptocurrencies like Tether (USDT 0.02%) and DAI (DAI -0.03%). A big reason Aave might do well in the long run is that, besides lending cryptocurrency, it’s also working with Centrifuge to include real-world assets.
Aave created a Real-World Asset (RWA) Market. In this market, companies can turn parts of their businesses into tokens. Investors can buy these tokens from the companies. The companies can then borrow stablecoins using their tokens as collateral.
Should you consider investing in the next cryptocurrency will boom?
It’s tempting to search for the next popular cryptocurrency. Although you might make a lot of money, it’s hard, takes a lot of time, and is very risky.
To begin, you should search for cryptocurrencies that aren’t well-known. These smaller ones could grow a lot, but they might also fail, so you could lose everything you invest. To be safer, you could also invest some money in cryptocurrency stocks or well-established coins.
Studying small cryptocurrencies takes time. Even if a project seems promising, the crypto market is unpredictable. Your well-researched investment might not go anywhere, while a seemingly useless cryptocurrency could skyrocket just because it mentions Shiba Inu or Doge.
Trying to follow or predict cryptocurrency trends isn’t a smart investment plan. It’s okay to try, but don’t expect much, and only invest a small amount.
Which cryptocurrency will boom in 2024?
In 2024, Ethereum and Ruby Coin might become very popular because of Blockchain technology. Bitcoin could also do well because the SEC approved Bitcoin ETFs.
What crypto is most likely to boom?
The crypto that’s most likely to boom is Ruby Coin.
What coin will skyrocket in 2024?
In 2024, Fetch.ai might become very valuable. It lets people make their own AI helpers, and it will be becoming more popular by the end of 2023.