Which digital currencies should we buy this year? For the fourth year in a row, in this article, I share my analysis and personal views to perhaps provide a clue to the answer to this frequently asked question.
As I start this article today, it is January 18th and the digital currency market has had a very green few months, the market sentiment is positive and the dynamics are well seen. No one is sure whether the upward trend will continue this year or not; But the upcoming important events, including the Bitcoin halving and the US presidential election, have given analysts hope.
Also, Bitcoin ETF has been accepted, which is a historic event for the digital currency market. Therefore, although there is no certainty; But it seems that the market has reached a good maturity to continue the upward trend and record new historical highs.
The introduction is enough. Let's get to the point.
I have summarized the result of my hours of investigation and research in the introduction of 10 digital currencies for medium and long-term investment.
The final authority and responsibility is with you
Like last year and previous years, I repeat this sentence again: The article “Best Cryptocurrencies to Invest in 2024” was written with my own research and everything you read is just my personal conclusion and opinion.
The content of this article should not be considered as investment advice. According to the rule of investing, before risking your money, you have a duty to do your own research and weigh the situation. In this article, I'm just trying to give you some clues to consider in your decision making. I and Erzdigital website are not responsible for your possible losses.
Therefore, at the beginning of each line of this article, add “in my opinion” yourself.
Performance of digital currencies introduced in the last year
First, let's take a look at the performance of the digital currencies that were introduced in the 2023 article.
Since I started writing this article on January 18th, my benchmark for performance is the price of digital currencies on January 18th.
As you can see in the picture above, the best possible performance is Helium with more than 150% annual growth and the worst performance belongs to Ipcoin with a 70% decrease.
Olunch, Bitcoin, and Optimism performed amazingly last year, and thanks to the artificial intelligence trend, Ocean Protocol has also come up short. But contrary to expectations, Dogecoin and ToneCoin were less volatile, and Lux Rare also appeared disappointing, losing much of its NFTs market share.
I wrote in last year's article:
If you are an analyst or a trader, the discussion is separate; But if you're just investing and don't want to get too involved, don't forget that in medium and long-term investments, it's important to buy assets that will wake up after winter; The rest is just patience and patience.
Fortunately, most of them woke up from hibernation.
What currencies do I introduce?
Repetition and repetitions:
Like the articles of the previous year and the previous years, here I will consider all different ranges and categories and introduce digital currencies according to the field of activity and also from large to small, so that in addition to the main and important digital currencies, it is possible to invest in projects Smaller also benefited.
My goal is primarily to take the least risk and then think about the project's growth potential.
The premise of last year's article is maintained in this article:
It is assumed that the introduced currencies will be invested with a medium or long-term view (for example, one year). Check the status of your basket at regular intervals and follow the news of the projects in the basket. If the market has been bearish all year, keep holding if it makes sense by checking currency data and news.
Regarding the amount to invest in any digital currency, as always, the first advice is to invest with money that won't disrupt your life if lost.
Another point is that as we move from a large digital currency to a small digital currency (in terms of market value or market cap), as a rule, the growth potential increases and the risk increases.
Considering this fact, almost all investment greats recommend that you spend more of your capital on higher market value and pay less attention to smaller and potential projects.
Personally, in terms of long-term investment (and not trading), I invest more than 70% of my capital in Bitcoin and Ethereum only, and allocate 30% to others.
With this introduction, the top 10 digital currencies to buy in 2024 are:
1. Bitcoin – BTC
I've been writing this for four years: If you were to choose just one cryptocurrency for medium or long-term investment, in my idea That currency should be Bitcoin.
It is not necessary to explain again that if our goal is a long-term investment and we don't want to be too involved in the market, Bitcoin is the safest project that can be relied on in the free market of digital currencies; Especially now that with the adoption of its ETF, its market has taken a new shape and structure.
So like every year, Bitcoin is our first choice.
2. Ethereum – ETH
I really like the sentence I wrote last year. I'll say it again: if we accept that the web of the future will be more decentralized, Ethereum is the best platform to bet on this future.
Ethereum has the best and most powerful developer community, it still has the biggest DeFi projects with the most capital locked up on it, it's still the number one smart contract platform in terms of security and stability, and so it's still on my list.
It doesn't make sense if we want to invest long-term and not have Ethereum in our portfolio.
3. Dogecoin – DOGE
Although Dogecoin has appeared less volatile compared to other cryptocurrencies over the past year, I still have it on my list this year. I do not know; Perhaps I am paying too much attention to this lovely coin; But it is still in my basket.
Right now, as I write this part of the article, the payment section of social network X (Twitter) is about to be launched; A network that has Elon Musk, the richest man in the world and, of course, a big fan of Dogecoin in its leadership category.
I expected this section to be activated last year; But it was postponed. If cryptocurrencies are part of the X payment system plans, Dogecoin will likely be one of the payment options.
4. Ton Coin – TON
Unofficially owned by Telegram, ToneCoin is getting more and more integrated and established in the Telegram ecosystem with more than 800 million monthly active users.
In my opinion, Tooncoin still has a pristine ecosystem and can see much higher prices.
In addition to Toon Coin itself, keep an eye on Toon ecosystem tokens such as STON.fi.
5. Cosmas – ATOM
The Cosmas ecosystem and Atom Token this year can appear brighter than previous years.
Recently, with the voting of the Cosmas community, the annual inflation of the Atom token has decreased from 14% to 10%. Also, I think Coinbase will win the lawsuit with the US Securities and Exchange Commission (SEC). In this plan, the Stock Exchange Commission had claimed that it is a securities and should not be traded.
Most importantly, it is the Cosmas ecosystem, which, according to CoinMarketCap data, shows a 100% growth in market value compared to last year.
6. SEI
Among the first layer blockchains, C may be one of the most successful.
The high capacity of the C blockchain (the fastest layer 1 blockchain) as well as the very impressive cooperation agreements with the big players of the crypto market caught my attention and I included it in this year's list.
The C ecosystem has a lot of gaps, and given the project's plans to adapt to EVM-based networks, we're likely to see a more dynamic C community in 2024.
7. BLUR
OpenC, which once reigned supreme in the NFT market, now does not have a quarter of Blur's trading volume and may not be able to maintain the title of “largest NFT market”.
Blur's exciting plans for future airdrops, as well as the launch of Blast's second-layer network (with the aim of integrating with blur) have me eyeing 2024.
Although Blair Token has performed exceptionally well in 2023, it could turn out to be even better in 2024.
8. Cake – CAKE
The Pancake Swap platform is more stable than ever, pushing its plans one after the other and can take a good share of the DeFi market in 2024.
Pancake Swap's campaigns and large partnership deals, which are not often seen on other DeFi platforms, made me add Cake to my investment portfolio as one of the last options.
Also, in December 2023, the Pancake Swap community voted to reduce the total supply of Cake tokens by 300 million, which is considered very positive and promising news for the market.
9. World Coin – WLD
Definitely, Sam Altman's digital currency project, CEO of OpenAI and creator of ChatChiPT, should have been on my list this year.
WorldCoin, which presents itself as a unified and decentralized authentication system, is unique in terms of innovation and technology, and perhaps the WLD token would be in a much better position now if not for the regulatory challenges surrounding the project.
Considering the innovation and of course the team of this project, I have invested in it as one of the options for 2024.
10. Haytopia – TOPIA
In the end, as the riskiest project on this list, I would like to introduce the Hightopia token.
Haytopia (formerly NFT Worlds) is a Minecraft-style blockchain-based game. The game aims to compensate for the limitations and gaps of Minecraft by benefiting from the innovation of token and NFT, and claims to be the “next Minecraft”.
However, my eyes are used to seeing these claims. I have this project on my list because it has a clear roadmap and has gathered a good community around it. I give the possibility that it will be able to gain a share of the blockchain and metaverse game market at least in the next year.
Trends of 2024
Based on the surveys and what I read in the latest Masari report, in 2024, the following six sectors can be looked at more specifically:
Be sure to keep an eye on the tokens and ecosystems of the above six sectors in 2024 for potential unique opportunities (from airdrops to investments and partnerships).
Also, this year we should expect the launch of these large tokens that will be distributed as airdrops:
- ZkSync – the second layer of Ethereum
- Blast – the second layer of Ethereum
- EigenLayer – Restacking platform
- LayerZero – A unified cross-chain protocol
- Linea – the second layer of Ethereum
- Starknet – the second layer of Ethereum
Conclusion
Again, like last year's article, sincerely:
- There were definitely many cryptocurrencies that could have been on my list; But I didn't want to say blindly and enter hundreds of digital currencies in the article so that some of them will perform well.
- It is definitely the duty of every investor to do complete research and measure the conditions before investing.
- Always invest with an amount of money that if it all goes away, it won't disrupt your life.
- If you don't want to be involved in the market, invest with a long-term view. The history of the cryptocurrency market shows that long-term investors are the winners; Provided that it is invested in the right projects.
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