Top 5 Cryptocurrencies to Buy Before 2024 – Next 10X Potential Altcoins

adminDecember 21, 2023

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Newly optimistic sentiments about the cryptocurrency market have investors turning their attention to high-potential cryptocurrency investment options in the coming year.

The coming year promises innovation, regulatory developments, and increased adoption that could have a major impact on the performance of a variety of digital assets.

As investors develop their portfolio strategies, staying up-to-date on market trends, technological developments, and macroeconomic factors will be key to making smart investment decisions.

This article lists the top 5 cryptocurrencies with expected growth potential before 2024. Each highlighted cryptocurrency represents a distinct investment opportunity, supported by factors such as recent developments, future price trajectory, and real-world utility.

Ethereum (ETH)

Ethereum pioneered blockchain technology through its smart contract platform, introducing computer programs that automatically execute contracts between parties online. This innovation aims to reduce the need for trusted intermediaries, lower transaction costs, and increase trust.

Ethereum executes smart contracts on the blockchain, envisioning a globally decentralized network for improved resilience. and censorship resistance. The platform also hosts other cryptocurrencies or “tokens” via the ERC-20 compatibility standard, with over 280,000 tokens launched to date.

Ethereum’s multifaceted approach has greatly shaped the landscape of the decentralized application (dApp) and token ecosystem. Ethereum is a digital asset widely known for its significant liquidity and significant daily trading volume.

As a leading altcoin, it distances itself from the speculative volatility often associated with smaller alternatives. Ethereum also plays a critical role in providing liquidity to numerous DeFi-based tokens, providing essential stability to the industry.

As of today, December 20th, the price of Ethereum is $2,191.27, and the 24-hour trading volume is $11.97 billion, an increase of 0.90% over the past 24 hours. Technical analysis shows the potential for a continued upward move in $ETH.

Traders and investors are closely monitoring the key support level at $2,024.30 and resistance level at $2,354.03. Analysts are speculating that the price of Ethereum will see a significant rise, possibly reaching $3,500 in the coming months.

Yeon.Finance (YFI)

yearn.finance serves as a platform for DeFi investors seeking optimal returns across various protocols. Utilizing smart contracts, there is a seamless transition between loans and lending services.

The platform goes beyond that and offers additional features such as vaults, insurance, and governance to enhance user experience and overall platform value. In particular, yearn.finance implements fees for withdrawals and gas subsidies, with potential changes subject to community voting.

Tailored for investors looking to enter the DeFi market with minimal time and effort, the $YFI cryptocurrency is currently trading at $8,253.24, with a 24-hour volume of $84.07 million and a market capitalization of $274.3 million. In the last 24 hours, YFI price is up 0.13%.

A bullish scenario where the price holds above the $8,446.91 resistance line could provide more momentum towards testing the $8,773.83 resistance line. Analysts express optimism, with the most ambitious yearn.finance cryptocurrency price target reaching $15,890 and the minimum target set at $12,387 by the end of 2024.

Bitcoin ETF Token (BTCETF)

The Bitcoin ETF token is an ERC20 token that has been intricately tied to regulatory developments, particularly regarding the SEC’s approval of the Bitcoin ETF. Although not officially affiliated with the Bitcoin ETF, its roadmap is aligned with expected market events.

This deflationary cryptocurrency is structured around five token burn events strategically linked to milestones related to the initial Bitcoin spot ETF introduction. Starting with an incineration tax of 5%, the incineration tax will be gradually reduced as performance is achieved, ultimately reaching 0%.

The team commits to burn 5% of the total supply upon reaching milestones such as $100 million in trading volume and the approval and launch of the first Bitcoin ETF. Early adopters are incentivized when the initial staking APY exceeds 558%, with over 440 million $BTCETF tokens already staked.

#Bitcoin ETF Now sold out! 🎉
Claims will be posted on Thursday, December 21 at 12:00 PM UTC. 📅 pic.twitter.com/jjyXKANgaz
— BTCETF_Token (@BTCETF_Token) December 19, 2023

The maximum supply of this ERC-20 token is 2.1 billion, with 840 million allocated for pre-sale. Staking rewards include 525 million tokens, with an additional 210 million tokens earmarked for liquidity pools.

The remaining 525 million tokens will be burned once milestones associated with Bitcoin spot ETF approval are met. The pre-sale of $BTCETF tokens has ended, successfully raising a significant amount of $5.09 million. Claiming $BTCETF tokens will begin at 12:00 PM UTC on December 21, 2023.

Watch the video above for an in-depth analysis of the top 5 cryptocurrencies to consider before 2024, and subscribe to his YouTube channel for additional cryptocurrency-related content. Jacob Crypto Bury also runs a Discord server with 17,000 members, providing trading tips and insights on upcoming cryptocurrency presales.

Internet Computer (ICP)

Internet computer blockchain has revolutionized blockchain design thanks to advances in encryption technology.

Serving as the first “world computer” blockchain, it provides the ability to build virtually any online system or service, including powerful web social media, without relying on traditional IT infrastructure such as cloud computing services. This promotes comprehensive end-to-end decentralization.

Notably, Internet Computer has recently witnessed a significant price surge exceeding 90% in the last 30 days and has successfully surpassed two key resistance levels.

ICP cryptocurrency 30-day price graph

The current Internet computer price is $8.95. The current 10-day simple moving average (SMA) is $7.36 and the 100-day SMA is $4.09. Support is set at $8.78, while resistance is at $10.37 and $11.42.

The current relative strength index (RSI) value is 74.03, indicating overbought conditions in the $ICP market. Nevertheless, the RSI indicator suggests a potential increase in the $ICP price. Going forward, Internet Computer’s trajectory appears likely to trend upward, especially if it maintains its position above critical support levels.

SIX

Recently, Sei has made significant gains, showing an impressive surge of over 50% in the last seven days and hitting a new all-time high (ATH) of $0.407. This incredible increase catapulted $SEI to 76th place among cryptocurrencies, with a market capitalization of $900 million.

Notably, open interest and social trading volume for $SEI doubled over this short period, indicating increased interest and engagement from the community. Sei’s price is currently trading between $0.32 and $0.39.

The 10-day simple moving average (SMA) is $0.25, with the 100-day SMA close behind at $0.15. Sei’s support levels were set at $0.34 and $0.30, while resistance levels were set at $0.42 and $0.47. Sei’s 14-day RSI is 71.33, suggesting that $SEI is currently undervalued.

Despite favorable current trends, it is important to recognize the inherent volatility of the cryptocurrency market and the uncertainty associated with the balance of long and short positions, which poses potential issues that could impact future price movements of Sei.

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