Next Cryptocurrency To Explode in 2024

2022 was a bearish year for the crypto market – dubbed the ‘crypto winter’ in cryptocurrency news media, Bitcoin dropped as low as $15,000, and many altcoins retraced by a more significant percentage, hitting all-time lows.

One advantage is it has made investors seek out cryptocurrencies with better utilities and higher potential for explosive long-term gains in the next crypto bull run. This guide highlights and reviews many cryptocurrencies to explode in 2024 and future years.

A Closer Look at the Next Cryptos to Explode

Our list kicks off with a meme coin – as Dogecoin and Shiba Inu showed in the last bull run, and Pepe (PEPE) showed in 2023, meme coins can explode by hundreds of percent in a matter of days:

Ripple (XRP)

Ripple has cemented its place in the crypto industry. It is a money transfer network project designed to serve the financial services industry’s needs. The native token of the project is XRP. Ripple is a payment settlement and currency exchange system facilitating transactions globally. XRP is the native token of the Ripple network that runs on the XRP Ledger. The XRP’s blockchain works differently than most other cryptos. It makes things centralized and uses a consensus protocol.

Ripple has a ton of benefits that makes it stand out. While other transfers take days to be verified and completed, Ripple’s transactions take less than four or five seconds to be executed. Various larger financial institutions such as the IndusInd Bank, Santander, and Bank of America use Ripple, demonstrating the goodwill and the market adoption functionalities that the cryptocurrency possesses.

What makes us add Ripple to the list is the adoption by major financial institutions and banks and its various solutions, which include the Crypto Liquidity Hub, Cross Border Payments, and Central Bank Digital Currencies.

ApeCoin (APE)

ApeCoin comes from the house of legacy NFT creators- The Bored Ape Yacht Club. It holds the right potential to gain the necessary hype while keeping true to its utility.

In the first quarter of 2022, the rumor mill was abuzz with reports of a cryptocurrency coming up, which would’ve been the native token of Bored Ape Yacht Club, developed by Yuga Labs. Then came ApeCoin. It is an ERC-20 governance and utility token of the APE ecosystem and is administered by a decentralized autonomous organization (DAO). This allows the holders of the coin to vote for any governance-related decisions.

The ApeCoin serves various purposes in the ecosystem. Some of the use cases of ApeCoin include enabling holders to participate in the governance of the DAO, which further allows them to participate in the governance of the DAO and gives access to some exclusive features such as games, events, merchandise, and more.

ApeCoin holds true potential to keep its place and explode in 2024 due to being backed by Yuga Labs. The same organization brought some best-selling NFTs, including The Bored Ape Yacht Club, Meebits, CryptoPunks.

GALA

Gala Games is at the forefront of a big metaverse revolution riding on the GameFi (play to earn) industry and NFTs.

Launched in 2020, Gala Games identified the gap in the play-to-earn industry and was one of the first movers in the space. It is a platform that creates blockchain-powered games, providing its players with actual ownership of their in-game assets with the help of NFTs.

It isn’t just its presence in the Play To Earn area that makes us add it to the list, but Gala Games’ focus on creating quality games that are way better than the usual games in the P2E space. Gala Games has its own native token called GALA. This is the primary token used within the game’s ecosystem for purchasing assets, peer-to-peer payments, rewarding nodes, and more.

What makes us seem optimistic about Gala Games is its unique abilities, which add to its overall functionalities. It is built on the Binance Smart Chain, which reduces the overall transaction fees when using GALA in the game. Other benefits include multiple games built in-store for a better gaming experience and a massive community with over 1.3 million members.

Immutable X (IMX)

Immutable X recently made itself heard again in crypto with its recent integration with the NFT marketplace Rarible. The gaming NFTs built on IMX can now be sold on Rarible.

Immutable X came up with the sole aim of making NFT transactions via the Ethereum blockchain more efficient by lowering gas fees. Launched in 2018 by James Ferguson, Robbie Ferguson, and Alex Connolly, it primarily targets getting instant confirmations on transactions on the blockchain and negligible gas fees for minting and trading NFTs.

The native token of Immutable X is IMX, which has 2 billion coins in circulation as of writing and is governed by the ERC-20 standard. These IMX tokens can help pay transaction fees and give incentives. Investors can also buy their IMX tokens and stake them to earn rewards and vote for any governance-related decisions.

Bitcoin (BTC)

Bitcoin is where most of the craze around cryptocurrencies started. Over the years, Bitcoin has shown resilience and can withstand the most negative news surrounding the entire crypto industry. While Bitcoin is currently facing the wrath of crypto winter and falling, it is expected to rise again.

Bitcoin has a variety of use cases, with countries like El Salvador even giving Bitcoin the status of legal tender. Experts seem optimistic about Bitcoin rising again and regaining its previous price levels.

Ethereum (ETH)

The world’s second-largest cryptocurrency has also made it to the list for various reasons. Ethereum comes with its own set of functionalities that make it unique. Last year Ethereum reduced the supply of Ethereum tokens, which currently stands at 122.2 million. This ensured the network could handle more transactions per second, improve the platform’s scalability, and lower transaction fees.

Ethereum has some edge over Bitcoin because the network’s infrastructure can be used to build apps and is also a base for other cryptocurrencies, facilitating decentralized finance. Apart from this, the Ethereum blockchain is also used by most of the top NFT projects too.

Ethereum has also completed the most significant upgrade in its price history, which transitioned Ethereum to a Web 3-ready proof of stake mechanism, reducing power consumption and increasing security.

Ethereum’s ability to provide additional features and act more as a facilitator than just a coin is already a significant advantage. With the current low prices, it can be a good moment for many to get in and invest in it too. We included Ethereum on our list of the best future cryptocurrencies.

Dogecoin (DOGE)

Dogecoin will always be remembered as the cryptocurrency that started the meme coin trend. The memecoin has shown resilience by staying relevant even after a significant slump in its valuation last year.

While there have been questions about Dogecoin due to its lack of real-world utility and the entry of competitors such as Bonk (BONK), DOGE is now accepted as a mode of payment by thousands of merchants worldwide, adding to its utility. Moreover, its recent rise as the second largest proof-of-work coin after Bitcoin is a testament.

It is yet to be seen how Dogecoin adds some much-needed utility. However, it is backed by a large community, an advantage for cryptocurrency in the long run.

Cosmos (ATOM)

The Cosmos blockchain was simply developed to facilitate and enhance the quality of communication between distributed ledgers without relying on a centralized server. The platform was soon termed the ‘internet of blockchain’ by its founders, which aimed at streamlining transactions.

Cosmos has a network of apps and services that are interconnected with one another to facilitate effective communication. This is done using hubs, the Tendermint consensus algorithm, and the Inter-Blockchain Communication protocol to ensure that blockchains can communicate securely.

It solves three significant problems that blockchain faces. Firstly, the Cosmos SDK solves the problem of high gas fees. This is done by the blockchains connecting with each other, relying on smart contracts on different blockchains. Similarly, Cosmos also offers scalability due to its interoperability model of shared communication and sustainable measure such as the PoS consensus algorithm, which reduces carbon footprint by 99%.

Sei (SEI)

Another token that’s set to explode in 2024 is one that leverages its layer-1 architecture to give decentralized exchanges an unfair advantage.

SEI is a solution that has been designed specifically for decentralized exchanges. Decentralized exchanges, although preferred when trading crypto, have historically faced scalability, and reliability issues in the past. SEI is a project that aims to help them reach their full potential.

The official website described SEi as a blockchain project designed to enable the mass adoption of digital assets. Due to its unique utility, it has been getting the attention of multiple DEXs. The official website of SEI reveals that it has a transaction finality of 300 ms, has conducted more than 100 million transactions already, supports more than 4 million testnet users, and manages 20,000 orders per second.

The rise of a decentralized economy in 2024 will lead to the creation of more DEXs, all of which will be looking for robust solutions. SEI, with its user-friendly approach, can be the one these decentralized exchanges look for. That could potentially boost its value on the price charts parabolically.

How To Find The Next Cryptocurrency To Explode in 2024

Finding the next big thing in cryptocurrencies is certainly not easy. This is why you should know the right places where you can look for the next big thing in the world of cryptocurrencies.

1. Social Media: Social media is usually rife with news and cryptocurrency discussions. This involves opinions and analysis by experts, updates on the projects, and some theories and in-depth discussions by users. Some of the best places to look for cryptocurrency-related information are Reddit and Twitter.
2. Use Best Wallet: Best Wallet’s latest feature, Upcoming Tokens, lets you browse, buy, track, and claim presale tokens all in your wallet! Seamlessly buy the hottest new cryptocurrencies in-app, and claim them once they launch in your wallet. You can find the next cryptocurrency to explode in 2024 simply by browsing Best Wallet’s curated list of ICOs.
3. Look Out for ICOs: Initial Coin Offerings are a way to ensure that most of the upcoming crypto projects can raise funds for their projects. ICOs can be an excellent way to get into cryptocurrencies. However, one thing to note here is that many ICOs are unregulated.
4. Latest Crypto News: Following the latest crypto news can be another good way to stay abreast of the rising cryptocurrencies. Information from reliable sources such as Inside Bitcoin can come in handy for you to make a decision.

Why Use Best Wallet To Buy The Next Big Cryptocurrency

Best Wallet is the ideal platform for discovering and purchasing the next big cryptocurrency thanks to its seamless features. With an easy Buy feature, you can quickly convert fiat to crypto using trusted providers, making funding your wallet hassle-free. 

The Upcoming Tokens feature allows you to invest in promising presales directly within the app, while cross-chain swaps let you diversify your portfolio effortlessly. Plus, the user-friendly interface ensures you can navigate the app with ease, empowering you to make informed investment decisions and act quickly on emerging opportunities. Download Best Wallet today and take your crypto journey to the next level!

Conclusion

Cryptocurrencies aren’t at their most bullish phase as of now. While the crypto winter does seem to slow down, it hasn’t died yet. This is what has made a lot of potential investors rethink their decision to step and invest in cryptocurrencies.

However, that’s always been the case with many financial revolutions in the past too. Cryptocurrencies aren’t in the best phase now, but seeing the dynamic approach by upcoming projects and a long-term attitude, it seems that the industry will soon be able to figure out the right track, eventually leading to an increase in their prices.

Based on the available data, one can only predict which cryptocurrency might stand out in the coming days. The final call is dependent on the potential of risk before you invest.

Presales offer the lowest risk and price point early in their roadmap among all the major ‘next big thing’ projects in the crypto industry. In this guide, we reviewed several, including Wall Street Pepe.

FAQs on the Next Crypto to Explode