Top 10+ Most Promising Cryptocurrencies of 2024

Which cryptocurrency investment holds the most promise? Having to assess so many variables is why many investors withdraw from their crypto investments. But it doesn’t have to be that way. Many promising cryptocurrencies have emerged in 2024.

This guide highlights the top 10+ promising cryptocurrencies you must watch in 2024. We discuss their individual values and assess their potential based on their roadmaps.

What Are the Most Promising Cryptocurrencies this year?

The following tokens have shown the most promise this year.

Solana
Altlayer
Ethereum
Apecoin
Binance Coin

Solana: A Layer1 Blockchain and the leading contender of Ethereum

Solana is a layer 1 blockchain designed to deal with the scalability and speed issues of Ethereum. Its transaction speed is about 50,000 TPS and provides more scalability through its unique Proof of History consensus mechanism.

As far as most promising cryptocurrencies go, Solana meets all the requirements. It has emerged as one of the better blockchains for developing staking protocols and dApps.

It is Censorship resistant

Solana is trustless and distributed. The lack of centralized control in the network allows the transactions to remain streamlined.

Passive Income Generation

You can earn passive income on the Solana blockchain through delegated staking. As a delegator, you can choose among the best validators to support the Solana network. Staking your Solana on these validators will allow you to generate passive income. Compared to trading, the stability of earnings through staking has made Solana one of the best platforms.

While there are many positives about this cryptocurrency, there are negative points too that are hard to ignore. Solana blockchain’s security has been heavily scrutinized in the past. In early 2022, hackers stole $320 million in funds from the Solana blockchain. While the developers are hard at bringing new security features, we will only find out after the test run.

At the time of writing, Solana has recovered from its dip to as low as $8 in the wake of the FTX collapse and is now trading back above $20. Solana is a promising cryptocurrency and one of the most used L-1 blockchains.

Check out our how to buy Solana guide or visit eToro at the link below, which has listed SOL.

Update – As of 2024, the only cryptocurrencies eToro users in the United States will be able to trade on the platform will be Bitcoin, Bitcoin Cash and Ethereum.

Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. [website domain name] is not an affiliate and may be compensated if you access certain products or services offered by the MSB.

Altlayer: Open and Decentralized Protocol for Rollups

Another one of the most promising cryptos to buy today is Altlayer. Presented as a decentralized protocol for rollups, this novel crypto projects brings the idea of restaked roll ups. With Restaked rollups, standard rollups get more security, decentralization, interoperability, and crypto-economic fast finality.

Powering this project is the native token known as ALT, which serves numerous utilities. Users can leverage it to provide governance to the Altlayer and as a protocol fee. Another facility that ALT has included is its functionality as an economic bond, in which an ALT is restacked with other assets to prevent any malicious behavior.

The project has been slowly gaining attention, and its price recently jumped massively with it going live on Binance. With more of its attributes being unveiled to the public with each passing day, it is likely that this promising crypto can become one of the leading offerings of 2024.

Ethereum: The world’s Number 1 Altcoin

Ethereum has gone through the most volatility (similar to Bitcoin) since the start of this year. The announcement about the shift to Proof of Stake consensus started it all. The crypto crowd is bullish about this smart-contract blockchain being more environmentally friendly. However, the new Ethereum 2.0 has taken too long to release. The difficulty bomb test was a success. However, it uncovered the many issues in the blockchain that further pushed the date of The Merge.

The Terra collapse didn’t help. It shook the entire crypto ecosystem – dropping the values of many major cryptocurrencies, Bitcoin and Ethereum. Ethereum has been in many rough spots as of late. It once hovered over $2.2 to $2.3k levels but now struggles to cross the $1.5k resistance during the crypto winter.

That said, the Ethereum price saw up to a 40% uptick after announcing that the merge update date is nearing.

Experts have said that when the shift to 2.0 will complete, Ethereum will potentially flip Bitcoin. It is because the new proof of stake protocol will have a massive impact on the total supply, projected to decrease by 90%. As the inflation of Ethereum will be lower than Bitcoin, the value of the ETH token could very well surpass BTC.

The Merge is the primary reason we are bullish about Ethereum’s promise. As the potential of this token continues to grow with more updates, holders would be in a better position now, as their chances to make high percentage gains are high.

At the time of writing, Ethereum is still trying to cross its $1.5k resistance. As more news comes about Ethereum’s project development, the price will likely cross this level and retest further highs. The general crypto crowd remains bullish about this cryptocurrency, and they have a good reason to do so.

Apecoin: One of the hottest NFT Cryptos of 2024

Apecoin is an ERC-20 token that powers the collaborative ecosystems of which Bored Ape Yacht Club NFT is a part. It is one of the most promising cryptocurrencies in the NFT space, valuable especially to Bored Ape NFT holders.

When the token was launched, holders of Bored Apes could claim them without any charge. It has been one of the most controversial aspects of this cryptocurrency. However, since the introduction of the Otherside, the BAYC metaverse, crypto investors have started seeing ApeCoin in a new light.

ApeCoin is the governance token of the APE ecosystem. APE holders can use the token to particulate in ApeCoinDAO. The token also offers holders access to many exclusive games and services.

APE reached its all-time high in May 2022, shortly before the crypto market would be pushed into the bearish zone. It peaked at $24.25 during this and then retraced to $5.2 when Bitcoin hit its bear bottom of 2022. Although it shortly bounced afterward and maintained a sideways trading range above $7.6 for some time.

However, the token has undergone repeated downtrends in 2023, and the token is currently hovering around the $1.44 mark.

It is one of the most surprising entries on our list as it is a speculative investment. However, after introducing one of the best metaverse projects, people have started to see it as a legitimate investment. The widespread media attention is another factor that pushes the tokens’ value forward.

A small market cap also works in the token’s favor, giving it huge upside potential.

Binance Coin: Cryptocurrency of the World’s Biggest Crypto Exchange

Binance Coin (BNB) is the native crypto of the Binance exchange. While it started out as an additional asset that Binance traders could use to reduce their trading fees, it has now become one of the most promising cryptocurrencies in the world.

It is the primary crypto of the Binance Chain and Smart chain and is used as an exchange token for dApps built on the Binance smart chain. For instance, Battle Infinity is a metaverse gaming platform built on the Binance Smart Chain powered by IBAT, a cryptocurrency undergoing presale that you can buy using BNB. One BNB will net you 166,666.66 IBAT tokens.

Binance is a thriving ecosystem, and developments within it often directly impact the value of Binance Coin.

Binance coin opened in 2023 at $246 before quickly recovering over the $300 level.

Ranking the Most Promising Cryptocurrencies: Our Method

2022 was a choppy year for the crypto market, which as of 2024, is showing some signs of recovery but may continue to be volatile. With that in mind, we pursued the following factors when ranking the most promising cryptocurrencies:

The Volatility of the Crypto Market

The current crypto market is highly volatile, which makes it essential to consider cryptocurrencies that have retained some stability and have the potential to recover to new heights.

That sentiment might not be reflected in the list because Ethereum dropped to below $2k in the bear market, but so was the general ecosystem. And the reason behind Ethereum’s retrace was primarily the updates. While the price is relatively low, the buying opportunity is high, especially since the Merge upgrade is on the horizon.

Therefore, while the volatility spells doom for short-term investors, for long-term crypto holders, it can be time to get to the ground floor of a high-reward opportunity.

Rise of Metaverse Cryptos

You will notice that among the most promising cryptocurrencies on the list, we have paid attention to the metaverse cryptos. The metaverse continues to be a bullish ecosystem, with new upgrades and opportunities daily. Battle Infinity, for instance, is a metaverse gaming project that pays equal attention to DeFi. Considering this factor is highly, especially in an ecosystem where many have stated to shift from CEX to DEX.

In Ethereum’s case, the upcoming merge upgrade will likely bolster the creation of more dApps and even more metaverse, further boosting the price of metaverse tokens.

Diversification of Use Cases

The bear market has hit many altcoin developers with a realization that they can persist on speculation alone. As the crypto crowd continues looking for the most uses for their altcoins, cryptocurrency developers are introducing new measures to make them more appealing.

For instance, the DEFC will soon diversify and venture into the NFT domain, which will likely pump its price.

Presale

The third factor we considered to learn the promise held by the token is a presale. Getting your hands on cryptocurrencies during the presale, especially those with a robust use case from the beginning, is a great idea. The price of such tokens would likely go up once they are listed on the exchanges. And since many tokens in the presale stage are backed by good use cases, the chances of them quickly increasing are high.

Check out our guide to discover some of the best crypto sectors this year.

Conclusion

The wisest crypto investment tip we always give our readers is to go for the most promising cryptocurrencies. Staying updated with the developments of these tokens will help you determine their potential in the future. In this guide, we reviewed all the crypto assets we think hold the most promise.

We included several crypto presales as new crypto projects often have the most upside potential being so early in their roadmap – although they also involve a higher degree of risk. To keep a balanced portfolio, also consider some well-established assets.

Our decision to add Wall Street Pepe to the list is backed by its unique fundamentals that involve bringing different blockchain communities together for rewards and interaction.