5 best cryptocurrencies to invest in 2024

5 best cryptocurrencies to invest in 2024

Since their introduction, cryptocurrencies have become one of the most talked-about topics in the financial market. However, the currency is volatile, and money invested in it could see massive drops in value. So, if one is ready for the risk, there is no better time to invest in them than today, especially with some tokens at an all-time high. Check out the five top cryptocurrencies to consider investing in today.

1. Solana (SOL)
Solana is one of the top picks in cryptocurrency, primarily for its utility. It is popular as it helps developers create decentralized applications (dApps). The network is also significantly quicker than other blockchains and has lower associated fees for higher scalability. The blockchain’s native token is the eponymous Solana or SOL. In addition to Solana’s thriving future, note that it is the fourth-largest cryptocurrency, with a market capitalization of about $80 billion.

2. Bitcoin (BTC)
Investors looking for a more stable cryptocurrency should consider Bitcoin. It was the first cryptocurrency and largest by market capitalization, with a valuation of about $1.3 trillion. It also boasts mainstream acceptance, including 11 new Bitcoin exchange-traded funds, or ETFs. Through Bitcoin ETFs, mainstream investors can track its performance without directly owning the currency.

3. Ether (ETH)
Usually referred to as Ethereum, ETH has a market cap of about $395 billion. It’s network is a tool for peer-to-peer networks and is custom-made for smart contracts and decentralized finance tools. It also features Web3 applications and trading of non-fungible tokens (NFTs). Experts believe Ether’s ETFs will be the next stepping stone in cryptocurrency’s mainstream adoption.

4. Avalanche (AVAX)
If one is okay with volatility, one can invest in the Avalanche network. The Avalanche blockchain has ambitious goals, including enabling users to create and deploy unique mini-blockchains on top of its network. Ava Labs, a developer, has forecasted a future where most mainstream commercial entities and individuals may want their blockchain, and Avalanche subnets offer solutions for this requirement. The current market capitalization of Avalanche is about $18 million.

5. Polygon (MATIC)
This cryptocurrency has a market cap of about $9 million with plenty of room to grow. The network is a scaling platform that aims to increase the capabilities of Ethereum, eventually allowing it to run a potentially limitless number of dApps. The price is currently low, creating a calm space for fresh investors.

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