People first ever heard of crypto in 2009 when Bitcoin was introduced, and since then, the coin has remained the leader of the market. Crypto enthusiasts saw potential in digital assets, and have invested extensive resources into building alternative coins (altcoins) which are meant to provide users with extra features compared to Bitcoin.
The most popular altcoin is Ethereum, which is also the world’s first programmable network that enabled the expansion of the cryptocurrency. It covers a broader audience’ needs to become a reliable power for decentralized finance, which is the most transformative technology of all time, that facilitates investors and traditional institutions’ access to the digital world, to perform their activity in a decentralized way. Seeing the success of ETH and how Ethereum price continues an upward trajectory over the years, developers have started to create new coins that aim for innovation.
For instance, some well-known rivals of Ethereum are Solana and Ripple, but they rank below the programmable currency. The crypto market is in full ascension, and besides Bitcoin and Ethereum, the other altcoins also perform quite well. Investing in ETH is surely a wise choice, but so is purchasing its rivals?
In this article, we’re looking at other interesting altcoins to watch in 2024:
When choosing to invest in cryptocurrencies, you might ask yourself which one would be a smart choice. If we think about the power of Bitcoin, we can surely say that it’s a must-have currency in your portfolio, but considering the transformative programmable blockchain of Ethereum, it could prove more lucrative for some people. Bitcoin remains the leader of the digital world despite the fluctuations over the years, and the latest tech improvements have expanded the use cases of the currency, covered the needs of a broader audience, and became a programmable ledger with the implementation of layer-w solutions. So, BTC is following the path of ETH, but the difference is that Ethereum has a more reliable and secure network, as programmability is the core concept of the blockchain, with no need for an extra layer. Both assets are volatile, but with the adoption of the exchange-traded funds (ETFs) that have been approved by the SEC this year, investors have the opportunity to gain a closer look at the price movements of the coin to make informed decisions. To decide on the best crypto to integrate into your portfolio, you can check the price prediction, which looks promising for the near future.
Ethereum is popular for being the world’s first programmable blockchain. Before its launch, cryptocurrencies were mainly seen as stores of value, but with the surge of ETH, the utility cases of digital coins have changed. The altcoin is an inspiring technology for its rivals; in fact, many ledgers follow the path of ETH, finding new ways to become more programmable and attract a broader audience in the network. It’s a top choice for investors’ portfolios, especially before the bull run this year, because considering the success of the coin during its history, we can expect a great upward trend and new transformations on its blockchain that could reshape once again the crypto world.
Solana follows the path of Ethereum, which is designed to host decentralized applications and services. Compared to its rival ETH, Solana can process more transactions per second, providing users with lower fees and attracting new investors and institutions in the market. It relies on a proof-of-stake mechanism that addresses the environmental concerns of eco-conscious users of crypto technologies. Thanks to the advanced tech improvements, SOL is scalable, secure, and programmable, enabling the deployment of smart contracts for running decentralized finance applications (DeFi) and innovative financial instruments like NFTs. So, these aspects make SOL a great investment choice, and considering the further advancements that the technology promises, it’s surely a currency you should watch in 2024.
Ripple is a tech company that has launched its native token, XRP, to provide fast payment solutions for companies and welcome institutional investors into the digital market, creating an ecosystem that serves the needs of a broad audience. The popular coin also promotes connectivity between multiple networks, enhancing users’ experience and enabling fast cross-border transactions. XRP is a top choice for institutions thanks to its main purpose of providing a liquid and effective ecosystem to address common economic issues in the real world, but it’s also a popular currency for individuals who want to embrace the innovative nature of the coin. Also, Ripple promises the launch of a set of ETFs that could significantly boost the popularity of the currency and, hence, its price, so make sure you don’t miss this huge opportunity in 2024.
Cardano uses a layered infrastructure that enhances the security and flexibility of the ecosystem. Just like Ethereum, it relies on a proof-of-stake mechanism, which is believed to be even more energy-efficient than ETH’s system, and it takes a decentralized approach to the users’ activity in the virtual financial landscape. To address scalability issues, Cardano works with side chains, which allow parallel processing and interoperability between multiple chains on the market, enabling greater transaction throughput without compromising the security of the blockchain. Just like ETH, Cardano provides users with smart contracts enabling developers to build decentralized applications, including DeFi, which is the most innovative way to expand the use cases of the crypto realm.
Despite all the challenges that Ethereum had to face since its launch, the many ups and downs, and the overall complexities of the digital market, we can safely say that it ranks as the second most popular currency for a reason. The innovative nature of the programmable blockchain continues to surprise the network, expanding the use cases of the web3 ecosystem and pushing investors’ wallets to significant returns. However, to create a balanced portfolio, it would be best to consider its rivals as well because the risks in the crypto market are generally unpredictable, but the gains can also exceed your expectations if you make wise decisions.
Has your skin been feeling dry despite countless face moisturizers? Fret not, because, with the…
In today's age of cyberspace, live streaming of sports is a popular way of making…
Venture capitalists are outspoken about the qualities they want in businesses. Getting venture funding may…
Fashion and functionality go hand in hand when it comes to carrying around necessities. Though…
DJI Goggles 3 is the game-changer in FPV technology that can give drone pilots an…
A great workplace is based on leadership; it constructs teams, facilitates development, and defines business…