We are only a few weeks into 2024 and Bitcoin is already dominating the conversation about cryptocurrency. Following the historic approval of a spot Bitcoin ETF by the SEC in the United States, investment in Bitcoin has risen by the millions and many are already predicting a bull run.
While 2024 certainly has a lot in store for Bitcoin, there are still many other tokens in the industry that should not be ignored either. From stablecoins to altcoins that are looking very promising, a wise investor would keep the following cryptos on their radar for the year:
Ethereum
Ethereum has been at the top of the crypto food chain for years now and is second only to Bitcoin. And while Bitcoin has a possibly exciting year ahead, so does Ethereum. First, there are rumors that it will be getting its own ETF. The Bitcoin ETF is believed to have opened the floodgates for more crypto ETFs and Ethereum seems to be next in line.
On top of this, there is the Dencun upgrade that is due by the end of the first quarter. It will improve the network’s scalability, which also makes it a top token to invest in this year.
XRP
As the flagship product of Ripple Labs, XRP has been making waves in the industry for a long time now. It is especially popular for cross-border transactions as it has proven to be fast and affordable to send. On top of its use in international transfers, it has also become popular in entertainment and gambling. A look at the newest list of crypto casinos will show that XRP is being used more and more, with Alan Draper noting that almost all crypto casinos accept it.
All these factors point to XRP being a successful token in 2024 and is one to watch.
Dogecoin
It would be very easy to write off Dogecoin on the surface. After all, it is based on a meme token of a Shiba Inu dog. But years later, it is still going strong and becoming a legitimate player in the crypto world. 2024 has started off with a bang for Dogecoin as there is speculation that X will be processing payments in the token.
X/Twitter owner Elon Musk has been a supporter of Dogecoin for years, even referring to it during his SNL appearance, and should it go forward, Dogecoin could see a price spike. And this is besides the other partnerships in the works this year.
Tether
There are few stablecoins in the crypto market on the level of Tether and this shows no signs of changing anytime soon. While many are happy to invest in the crypto market, they still crave the stability of fiat currency and this is where stablecoins like Tether come in. Offering this middle ground has made Tether very successful thus far and this should only continue in 2024. Like XRP, it’s also popular for a variety of online transaction purposes, like playing live crypto casino games thanks to its stable prices.
The team behind Tether also seems more interested in securing public trust after dealing with several scandals in the 2010s. Moving forward, the company plans to publish its reserve data in real time, which should be comforting for investors.
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