The cryptocurrency market is constantly evolving, and altcoins often steal the spotlight from the better-known Bitcoin. Looking ahead to 2024, experts in the field have identified several altcoins with great potential.
Miles Deutscher and Michael van de Poppe, prominent voices in the crypto industry, shared their insights and highlighted this year’s top contenders.
Here are the top 5 altcoins of 2024
Miles Deutscher’s top five picks include a variety of altcoins, each with unique strengths and growth-enhancing potential. Starting with Arbitrum (ARB) and Optimism (OP), Deutscher emphasized This is a link to the upcoming Ethereum EIP-4844 upgrade, which promises lower fees and increased competitiveness.
According to Deutscher, this network update could increase adoption and skyrocket its value.
“The EIP-4844 upgrade is set to significantly reduce Ethereum Layer 2 fees…If you were paying $2 for an LP deposit on Arbitrum, you may now only be paying 5-10 cents. Therefore, there is no doubt that Cctalyst will be adopted for Layer 2, as it will make it cheaper and more competitive to use Layer 2,” Deutscher emphasized.
Another Deutscher choice, dYdX (DYDX), stands out for its role in the decentralized exchange (DEX) story. The company’s impending transition to its own chain on Cosmos (ATOM) and strong fee generation capacity, totaling $36 million in the past 180 days, positions the company as a favorable investment option.
“I believe in the spirit of decentralization, and I think having a truly decentralized solution to trading is extremely valuable in the crypto economy. Although it’s not fully visible yet, dYdX will help all I think this is the most bullish Dex out there,” Deutscher added.
Read more: How to make money with cryptocurrencies: Top 4 ways in 2024
Celestia (TIA) came in third, praised for its modular blockchain structure that allows different components to be stacked on top, such as layer 2 solutions and other blockchains. According to Deutscher, this flexibility is attracting many new applications and deployments.
Thorchain (RUNE) is Deutscher’s fourth choice and has been praised for its unique mechanism to facilitate cross-chain liquidity. It is a decentralized solution for directly exchanging assets such as Ethereum and Bitcoin, a feature that is becoming increasingly in demand.
“In a way, RUNE is a reflexive or leveraged bet on a bull market. If you know there’s a big bull market and Bitcoin, Ethereum, and other assets are going to explode, , you know that for the RUNE application to work, the price has to be readjusted higher, so this is a very reflexive mechanism,” Deutscher explained.
Finally, Frax Share (FXS) tops the German list. Frax Share will be a comprehensive investment in the DeFi space with a multifaceted approach that includes a lending protocol, an upcoming layer 2 chain, and a strong team behind it.
Here are the top 5 cryptocurrencies of 2024
Michael van de Poppe took a different approach.he concentrated Applies to both established and emerging altcoins to avoid unnecessary risks.
“I don’t believe in getting into altcoins with very small amounts to maximize risk. I think multiplying your profits and having the right strategy will benefit you in the long run. . Otherwise, you go to the casino, go to the roulette table, and if you get lucky there, you just move on,” Poppe said.
Ethereum (ETH) is on his list not only because of its potential to outperform Bitcoin, but also because of the potential for developments such as Spot Ethereum ETFs and deflationary proof-of-stake (POS) systems. is at the forefront of Poppe explained that Ethereum is “undervalued” but has the potential to “deliver higher returns going forward.”
“There is the fact that the price of Ethereum relative to Bitcoin is currently at the bottom, and the fact that the first quarter of this year is usually a very strong period for Ethereum. It will give you a real investment thesis to consider Ethereum as an altcoin to watch,” Poppe asserted.
Arbitrum and Optimism, which have also attracted Poppe’s attention, have been recognized for their promising trends and potential high returns as part of the Ethereum ecosystem. He suggested a dollar-cost averaging strategy for these assets given the current market position.
Chainlink (LINK) is another key company in Poppe’s portfolio, valued for its role in the DeFi, RWA, and NFT sectors and its potential for recovery after a prolonged bear market.
“I think DeFi is probably going to be cornered and do very well in the next cycle with the addition of RWA and NFTs… So by positioning it as what is likely to be most important to the entire ecosystem, we are capturing it. That’s why I chose Chainlink,” Poppe said.
Read more: Chainlink (LINK) Price Prediction 2024/2025/2030
Finally, emerging project Sui (SUI) rounds out Poppe’s list. Sui represents an investment in a competitive environment with Ethereum. According to Poppe, 2021 could mirror the successful trajectory of projects like Phantom and Avalanche.
These expert insights paint a diverse picture of the altcoin market in 2024. We then highlight projects that stand out for their technological innovation and strategic position in the crypto economy. Investors looking to diversify their portfolio should consider these altcoin recommendations. In fact, each offers a unique combination of potential and performance in the cryptocurrency market.
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