Bitcoin has been leading the horse this 2024, setting the field for a bullish season as ETFs in the US are being massively adopted by large institutions.
The ETF is one factor, but there is also the halving factor, which happened in April and reduced the reward of the miners from 6.14 BTC to 3.12 BTC for mined blocks, which ultimately limits the supply of bitcoin that, in front of a strong demand, could rise the price to new all-time highs as it happened when BTC touched the mark of $73.000.
Now, several investors are promoting the mark of $150.000 as the next ATH. Institutions like Bernstein have stated that it is possible by the end of the year, and figures like Robert Kiyosaki believe that Bitcoin could go even further.
So now that factors seem to be aligned for a bullish season, let’s explore some coins leading the market along with Bitcoin.
The second largest cryptocurrency by market cap is expecting an ETF approval in the US. At the same time, Ethereum has consolidated its position as the preferred network for DeFi developments and meme coins tokenization, and earlier this year, the blockchain received an update called Duncan.
Tokens that can explode this year from the Ethereum blockchain:
Solana has been raising its market cap consistently since 2023. Like Ethereum, it has been consolidating its blockchain as an alternative for DeFi and decentralized exchange (DEX) projects with constant improvements on the way.
The native SOL token has been increasing its price but some other names to spot from the Solana ecosystem are:
Other tokens to explore:
Backed by the larger exchange by transaction volumes, BNB is a good candidate coin to follow in 2024. The Binance Chain has been enjoying increasing usability, and specifically at the start of June, BNB reached a new all-time high in its price, quoting at $720 per unit.
The Launchpad of the Binance Chain is one of the more interesting features, but this chain also offers a place for other established DeFi protocols, for example:
Near Protocol is a blockchain that aims to offer high speed for scalable projects, two things that have been limitations faced by other blockchains. Even though it is not an AI project, it has been recognized as a good foundation for future AI developments.
Check out how to paper trade Bitcoin here!
The memecoins, despite being criticized, have been gaining in the field of speculative assets, traders have been accepting them, and even Vitalik Buterin (Ethereum co-founder) has written about them showcasing their potential utility.
So what meme coins to look at in 2024?
We can see that 2024 has come charged with significant events for the crypto market. ETFs, DeFi and GameFi development, or even the emergence of meme coins, are signals of increasing adoption of cryptocurrencies as investment assets.
However, remember to do your own research, allocate your capital according to a trading plan and risk management, and avoid mistakes related to FOMO.
Los Altos, United States / California, 26th September 2024, Chainwire
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