Crypto News : Top notch cryptos to buy in 2024

• 2023 has been overall generous to crypto traders. Bitcoin got a yearly gain of 155%. The top few gainers in crypto market saw 70% to 500% return during the year. Even as 2023 had its lions share of negative developments such as the fall of future exchange(FTX) and Binance, the global markets held and grew their presence. Here are the best cryptos to buy that have caught our eye.

• Bitcoin (BTC)
•  Market capital:$834.09B
• Number one ranked crypto Launched in 2009, BTC is the first virtual currency to solve the double-spending issue by timestamping transactions before broadcasting them .Market dominance is 51.02 % of the total crypto world. With Bitcoin spot ETF likely to be in place in the US in 2024 and the next halving event likely to be in April, Bitcoin will continue to be dominant globally. BTC can do a 3-4x in the next 2-3 years with a relatively lower risk profile. Currently, its price is at $42,310 as of the 28th of Jan. 2024

• Ethereum (ETH)
• Market cap: $274.1 billion
• Number two ranked crypto with market dominance of 16.77%.ETH is both a cryptocurrency and a blockchain platform, ETH is a favorite of program developers due to smart contracts that execute contracts or agreements when there are  NFTs. Ethereum has also experienced tremendous growth. From mid-2016 to this January 2024, its price went from about $12 to around $2,190, increasing 19,900%.

• Binance Coin (BNB)
• Market cap: $45.9 billion
• Binance Coin (BNB) is a form of crypto asset that can be used to trade on Binance exchange, one of the largest crypto exchanges in the universe which powers the BNB chain ecosystem. Since its launch in mid-2017, BNB has expanded past merely facilitating traders to trade on Bi nance’s exchange platform. Now, it can be used for trading where currently it is ranked NO.4, payment processing or even booking and arrangements. BNB’s price in 2017 was just $0.10. By 28th January 2024, its price had risen to around $308, a gain of 294,103%.

 

• XRP (XRP)
• Market cap: $27.3 billion
• Created by some of the same founders as Ripple, with the main objective to increase the intrinsic value of its USDT currency and trading technologies, a digital technology and payment processing company, XRP can be used on that network to help exchanges of different currency types and other major cryptocurrencies. In the middle of 2017, the price of XRP was $0.007. As of Jan. 28, 2024, its price reached $0.5292.

• Dogecoin (DOGE)
• Market cap: $11.37 billion
• Dogecoin was famously started as fun in 2013 but rapidly evolved into a novelty cryptocurrency launched as a meme coin. Unlike many other cryptos, there is no limit on the number of Doge crypto coins that can be created, which leaves the crypto susceptible to devaluation as its supply continues to increase. Dogecoin’s price in 2019 was $0.00028. By the 28th of January 2024, its price is at $0.07951.

• Avalanche (AVAX)
• Market cap: $13.3 billion
• Avalanche provides two salient features: fast transaction speeds and low transaction interest or fee. AVAX also has a healthy amount of money deposited in a decentralized finance ecosystem. TVL is the total worth of crypto assets deposited in a decentralized finance (DeFi) protocol, such as borrowing, staking, or liquidity pools. A high TVL is an indicator of the popularity of a protocol and its Avalanche’s price today is $35.52

 

• Solana (SOL)
•  Market cap: $42.21 billion
• Solana was launched in March 2020 and is currently ranked at No #5. Like ETH, its network supports smart contracts and non-fungible tokens(NFTs). But Solana’s unique, high-speed single-layer blockchain nature, hybrid proof-of-stake, and peak capacity of 65k transactions per second make it faster and cheaper than Ethereum. But outages has plagued SOL. This network was down for nearly 20 hours in February 2023. Currently, its price is $97.07 as of 28th Jan. 2024

 

•  Polkadot (DOT
• Market cap: $8.45 billion
• The Polkadot was launched in 2020 by an Ethereum co-founder and its current rank in cryptos at NO #12. The protocol was developed to connect different unconnected blockchains, allowing value and data to be transferred from blockchains such as ETH and BTC. And is currently at the price of $6.67.

Some common tips for selecting the cryptocurrency to invest include:

1. Diversification: invest across different assets to mitigate risk.
2. Research: Understand the tech, and have proper research on a cryptocurrency before investing.
3. Risk Management: Only invest the amount that you can afford to lose, given the high volatility of the asset.
4. Stay Informed:  Get updates of  developments in the cryptocurrency/forex space to make informed decisions.