The collective hype that reigns over the new cryptocurrencies is increasingly beginning to resemble the period of the Gold Rush. No matter how appealing the whole craze seems to you, there are some things to consider, especially if you are new to all this.
Today, everything is about trading, and although there are many respected and verified sites and platforms like oil-profits.com, where one can earn money trading oil or those where you can trade coins, some information about what to expect and how it all works is also necessary.
In the field of cryptocurrencies and blockchain technology, a lot of exciting things have been happening in recent months, which is currently reflecting on rising market prices. The prices of some cryptocurrencies have recovered nicely, although, for most, we are still very far from the highest prices reached in December 2017. So are we at the beginning of some new growing trend, and if so, what to expect?
1. Bitcoin
Bitcoin recently celebrated 11 years of existence, proving for sure that it will stay in the market for a long time and that its blockchain technology is truly revolutionary.
Namely, 11 years after Bitcoin saw the light of day, some things still apply:
- The final number of Bitcoins will be only 21 million
- There was no intrusion into its technology
- The background of blockchain technology is entirely transparent
- Every 8 to 10 minutes, new blocks of data are created
- Bitcoin remains decentralized
- It is still gaining value.
Bitcoin and blockchain technology have made a revolutionary move towards a new understanding of finance and trust. Of course, it is no secret that cryptocurrency prices will move in full accordance with how and when this technology will be widely accepted and regulated. Namely, only then will the largest corporations enter the market, which will move the market to where all enthusiasts in the investment sector want. But one thing that everyone should know – “these big ones” are already joining the cryptocurrency sector, and they have been doing this for quite some time now.
After everything that has been going on, especially this year, BTC can and will only grow, and by many specialists in this field, that price will reach a new high.
2. XTZ
Second on the list is the XTZ, based on the Tezos blockchain, and it is already popular among crypto-enthusiasts, and many predict a pretty bright future for it, although its current worth is only $2.91. Even so, it is currently in the top twenty cryptos in the world, and by most experts, it will go further on the list in 2024.
For a year and a half, this crypto was losing its value, but in the last couple of months, there was a trend of steady growth. Due to the high interest and the investment of Elevated Returns financial group, a prosperous future is expected for this virtual money, and the utility token (ERX) is something to expect to come to the market by the end of 2024.
3. BNB
Made by Binance coin, this crypto is offering a steady growth not only in 2024 but for many years ahead. Although one can not expect to make so much money at once with BNB, it is a more secure option to invest in, and with the current price of 30.56 USD, it is a safe choice.
4. LEND
Backed by Aave, and even though it is worth only 0.534 dollars, this crypto is on the list because no one doubts its price will go higher, and by every prediction, in just one year, one can triple their investment. It is a pretty recent cryptocurrency that operates on the ETH platform.
5. Cardano
Cardano or ADA is an open cryptocurrency project, which represents a decentralized public block chart. Its authors pursue the goal of improving the smart contract platform by enabling users to create applications and contracts more cheaply and securely. All this will create a new decentralized economy. For this project, a new and very secure Haskell programming language was developed, which provides increased security to the entire system. It is the most secure programming language to date. With the price of $0.112, it is pretty affordable for everyone, and its popularity grants that the price will only get higher.
6. Ethereum (ETH),
It is the digital currency of a platform for building decentralized blockchain-based Internet services (dApps). If Bitcoin is often referred to as digital gold (due to the complexity of its production, limited supply, and excellent investment qualities) then Ethereum is sometimes referred to as digital oil.
In the crypto community, disputes over which investment object is more attractive – Bitcoin or Ethereum, do not subside. Despite the relatively young age of the latter (the Ethereum started on July 30, 2015), quite famous celebrities of the cryptocurrency world prefer ETH.
The potential of Ethereum is vast and attracts the attention of major software developers such as Microsoft and IBM. Its platform hosts many ICOs (Initial Coin Offering), and many crypto tokens are created based on the core ERC-20 standard. Because of all the above mentioned, the price of ETH in 2024 is something we all need to monitor.
7. TRON
Founded in 2017 by the foundation led by Justin Sun, TRON ranks 10th in the cryptocurrency rating: capitalization – $ 2.96 billion, daily trading volume – $ 177.87 million. TRON network is an entertainment system with free content (video, audio, photos, applications), and the foundation is a non-profit organization. The number of 4 million accounts shows just how much people believe in this crypto, and you can also use it to pay for accessing original material – pretty similar to BAT.
8. XPR
This cryptocurrency is used in the real-time gross settlement system, as well as for currency exchange and money transfers. Ripple protocol, launched in 2012, aims to provide secure, instant, and near-free global financial transactions of any size with no refunds. According to some crypto enthusiasts, the Ripple payment system could become an alternative to SWIFT in the future.
9. Litecoin (LTC)
Litecoin was one of the first to activate support for the SegWit protocol. For several years, Litecoin has been in the shadow of bitcoin and other cryptocurrencies, trading in the region of $ 3-4 per coin. In March this year, on the eve of the application of SegWit, its price began to rise rapidly. Now, it is approaching $50 per coin and, according to many analysts, that is far from the limit. It is represented on most exchanges and exchange platforms and is accepted by many companies as a means of payment.
Litecoin’s maximum supply is limited to 84 million tokens, and currently, 52.4 million LTCs are in the market.
Conclusion
Given all the mentioned innovations and advances of cryptocurrencies and blockchain technology, we can all agree that some of them still have pretty tremendous growth potential. Wider acceptance and inflows of institutional money will certainly have a positive impact on price developments. But of course, there will be a need for attention and caution, as the cryptocurrency market is still pretty unpredictable if you do not have the right knowledge.
