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Top 10 Best Cryptocurrency to Invest in July 2024

Top 10 Best Cryptocurrency to Invest in July 2024
Author: Mansi Patodi
25-Jun-2024

Table of Content

10 Best Cryptocurrency to Buy in 2024
Conclusion
FAQs
  • What are the top crypto to invest in 2024?
  • Which is the best cryptocurrency to buy today?
  • Which crypto should I buy now in 2024?

Whether you are a crypto native or have recently entered the crypto world, the search for "Best cryptocurrency to Invest in" never gets outdated. In fact, it shouldn't be! That's what we always advise our investors to do: "DYOR."

With the ever-evolving Web3 and crypto space, making informed decisions becomes crucial to safeguard your hard-earned money from substantial risks. To help you with your research, answer your question: What is the Best Cryptocurrency to invest in 2024?? We have meticulously evaluated significant aspects, advantages and drawbacks of existing crypto projects and have curated the list of our best picks for 2024 that can deliver substantial returns this year.

So, without further ado, let's get started.

10 Best Cryptocurrency to Buy in 2024

List of 10 Best Cryptocurrency in 2024
Next Big Cryptocurrency Current Price Market Capitalization
Bitcoin (BTC) $66,654 $1.3 Trillion
Ethereum (ETH) $3,249 $396.99 Billion
Solana (SOL) $158.08 $70.60 Billion
Ripple (XRP) $0.55 $30.3 Billion
Polygon (MATIC) $0.75 $7.4 Billion
Dogecoin (DOGE) $0.16 $23.3 Billion
Cardano (ADA) $0.50 $17.9 Billion
Near Protocol (NEAR) $6.86 $7.3 Billion
Shiba Inu (SHIB) $0.00002714 $15.9 Billion
  1. Bitcoin (BTC)

BTC Key Metrics  
Current Price $66,654
Circulating Supply 19.68 Million BTC
Total Supply 19.68 Million BTC
All-time-high $73,750 (a month ago)
All-time-low $0.04865 (July 15, 2010)

The father and mother of all Cryptocurrencies, Bitcoin ($BTC), definitely tops the list of best cryptocurrency to buy in 2024.

Created in 2009 by an anonymous founder, Satoshi Nakamoto. Bitcoin is the first decentralized blockchain for peer-to-peer transactions. It uses a unique proof-of-work consensus mechanism that makes it nearly impossible to alter the transactions on the Bitcoin blockchain, making it little or no prone to phishing.

Bitcoin has gained immense popularity over the years due to its decentralized and privacy-focused nature. Moreover, It has maintained a remarkable 99.98% uptime in its history. At its launch in 2009, Bitcoin was worth a few cents. However, by continuing a journey of trust and ownership, Bitcoin has come a long way and has gained around 1,68,52,200% of its value.

Upsides of Bitcoin

  • Being the first-ever crypto, Bitcoin attracts numerous businesses and investors worldwide.
  • Bitcoin is one of the blue-chip cryptos, with the largest market cap, low volatility and low risk compared to other cryptocurrencies.
  • As Bitcoin awareness continues to grow, so does demand. With a capped supply of 21 million, Bitcoin may face a scarcity crisis, which strengthens the Bitcoin Price Prediction for the foreseeable future.

Downsides of Bitcoin

  • The Bitcoin requirement for high computational power in transaction confirmation and the creation of new Bitcoins has sparked debates about its environmental impact.
  1. Ethereum (ETH)

ETH Key Metrics  
Current Price $3,249
Circulating Supply 122.047 Million ETH
Total Supply 122.047 Million ETH
Maximum Supply Infinite
All-time-high $4,891 (Nov 16, 2021)
All-time-low $0.4209 (Oct 22, 2015)

Ethereum is the second-largest cryptocurrency by market cap. It is decentralized, scalable, and secure. By implementing smart contract technology, Ethereum facilitates the swift development of a large number of Dapps on its platform.

Launched in 2015 by Vitalik Buterin, Ethereum is the fastest-growing blockchain network supporting thousands of decentralized projects, including DeFi, NFT marketplaces, Decentralised gaming projects, DAOs and cryptocurrency exchanges.

Like Bitcoin, Ethereum initially worked on a Proof-of-work consensus mechanism. However, later in 2022, it underwent a significant upgrade, "The Merge," that transitioned it to Proof-of-stake consensus. This drastically reduced 99% of energy consumption in processing Ethereum transactions, making its ecosystem more prone to sustainability. According to Ethereum's Roadmap, many such robust upgrades are set to roll out to enhance the existing Ethereum Blockchain.

Considering its wide use cases, adoption, adaptability, one-of-a-kind technology and future plans, Ethereum ranks second among the top 10 best cryptocurrency in 2024.

Upsides of Ethereum

  • Ethereum is a highly scalable blockchain that offers high transaction throughput and lower gas fees.
  • The blockchain is home to a massive number of significant projects, which is boosting the development of the Web3 ecosystem.
  • Its robust decentralized architecture effectively manages and stores the data without centralized intermediaries.

Downsides of Ethereum

  • There is no limit to the number of ETH that can ever exist for this reason Ethereum dearths the potential to hedge inflation.

    Read: Ethereum (ETH) Price Prediction

 

  1. Solana (SOL)

Solana Key Metrics  
Current Price $158
Circulating Supply 447,04 Million SOL
Total Supply 574.60 Million SOL
Maximum Supply Infinite
All-time-high $260 (Nov 07, 2021)
All-time-low $0.5052 (May 12, 2020)

Solana is another top crypto to invest in 2024. Solana is a decentralized blockchain that hosts multiple decentralized and scalable projects. The network was founded by Anatoly Yakovenko and Raj Gokal in 2018 and stands out as the speediest blockchain platform, capable of processing transactions at 65,000 TPS with its novel proof-of-history consensus mechanism.

Unlike Ethereum, which requires multiple layers to improve scalability, Solana operates on a single layer. While Ethereum holds a first-mover advantage among developers in deploying smart contracts due to their familiarity, Solana is making significant advancements with groundbreaking innovations like Solana mobile phones and a rapidly growing ecosystem, positioning itself as one of the top choices of investors in 2024 and potential leader in the web3 industry.

Upsides of Solana

  • Solana has two exemplary features that make it a good choice for developers: Speed and scalability, which contribute to reducing transaction costs.
  • Solana's user base is growing faster, and in a short time, it has gained traction with a wide audience.

Downsides of Solana

  • It is pretty new compared to more established blockchains like Bitcoin and Ethereum.
  • Solana blockchain has sometimes reported network failures due to high traffic, concerning its adaptability with mainstream adoption.

 

  1. Ripple (XRP)

XRP Key Metrics  
Current Price $0.5
Circulating Supply 55 Billion XRP
Total Supply 99.98 Billion XRP
Maximum Supply 100 Billion XRP
All-time-high $3.8 (Jan 04, 2018)
All-time-low $0.002 (July 7, 2014)

Established by Ripple Labs in 2012, Ripple serves as a decentralized payment system for instant and efficient transaction settlement globally. Acting as a trusted agent between the two parties, Ripple ensures a secure settlement of funds within seconds, eliminating the need for middlemen like central authorities and financial institutions.

XRP is the payment currency of the Ripple network, or XRP Ledger, used for transaction settlement and paying fees on the network. Notably, Ripple Network employs the lowest transaction fees, about 0.00001 XRP, making it one of the most cost-effective payment networks globally, surpassing Bitcoin and definitely holds the potential to become the next big cryptocurrency

Upsides of Ripple

  • XRP is the quickest global fund-transferring Protocol, with the lowest fees, making it favourable for speedy, large and penny transfers.
  • Since its inception, Ripple has experienced phenomenal growth and less volatility. Its widespread adoption and strong investor support have delivered stable returns to its investors over time.

Downsides of Ripple

  • Ripple is often criticized for its centralized nature. Ripple labs hold a major portion of the XRP supply, amounting to 61 million XRP.
  • Ripple Labs is often engaged in debates with the SEC, which drives concerns for XRP investors related to the cryptocurrency's regulatory status.

    Read: Ripple (XRP) Price Prediction

 

  1. Polygon (MATIC)

MATIC Key Metrics  
Current Price $0.5
Circulating Supply 9.8 Billion MATIC
Total Supply 10 Billion MATIC
Maximum Supply 10 Billion MATIC
All-time-high $2.9 (Dec 27, 2021)
All-time-low $0.003 (May 10, 2019)

Apart from being on the list of best crypto to buy in 2024, Polygon is also one of the largest Layer-2 protocols that addresses and fixes the scalability issues of the Ethereum Blockchain. It does this by processing transactions on its Ethereum-compatible blockchain. The verified transactions are then further integrated into the main Ethereum network, providing an efficient framework for projects to build and operate on the Ethereum network.

Polygon (formerly Matic Network) got its roots from a team of wise Indian developers and CEO Jayanti Kanani, Sandeep Nailwal (Co-founder and COO) and Anurag Arjun (Co-founder and CPO). It aims to resolve congestion issues of the prominent Ethereum blockchain by providing accessible and swift interaction of users with smart contracts through its side chain that can process up to 65,000 transactions in a second with penny fees compared to Ethereum's 17 transactions with higher gas fees. Also, it provides a range of protocols, including Zk proofs, offering users scalable options tailored to their needs.

If you want to invest in its native token, MATIC and gain some advantage of Polygon's groundbreaking future developments, Flitpay is the best platform to buy MATIC at the best prices.

Upsides of Polygon

  • Polygon is highly scalable, interoperable with Ethereum, and operates on low transaction fees, so many DeFi projects and Dapps are migrating to It.
  • The adoption of Polygon by renowned brands like Nike, Starbucks, Mastercard, Adobe, Disney, Meta (formerly Facebook), Adidas, Mercedes, Reddit, and Google Cloud has further sparked the interest of crypto investors worldwide, validating its potential.

Downsides of Polygon

  • With a smaller community and few projects, Polygon is less established than Ethereum.
  • Due to its relatively new establishment and support from fewer validators, Polygon is more susceptible to network manipulation, making it less decentralized.

    Read: Polygon (MATIC) Price Prediction

 

  1. Dogecoin (DOGE)

DOGE Key Metrics  
Current Price $0.16
Circulating Supply 144.01 Billion DOGE
Total Supply 144.01 Billion DOGE
Maximum Supply Infinite
All-time-high $0.7 (May 08, 2021)
All-time-low $0.00008 (May 07, 2015)

DOGE could be on your radar when searching for the best cryptocurrency to invest in 2024.

Dogecoin is an independent blockchain platform that started with a popular internet meme that went viral in 2013. The meme featured a Dog with broken English phrases.

In 2014, Billy Markus and Jackson Palmer, online friends from Reddit, decided to create a crypto out of this joke to mock the significant cryptocurrencies of that time. Since then, this infamous meme coin has started gaining global attention and has become a tipping currency on Reddit and Twitter. Its popularity surged even more when the Tesla CEO, Elon Musk, boasted about his fondness for Dogecoin in a tweet.

While Dogecoin lacks intrinsic value and potential use cases, its continued hype and celebrity endorsements have kept it in the spotlight.

Upsides of Dogecoin

  • Dogecoin is backed by a solid and loyal community working diligently to achieve its success.
  • Since it is the first meme-based cryptocurrency, it rules the "First love is always special" mindset.

Downsides of Dogecoin

  • It lacks intrinsic value and relies only on its status as a meme for its value.
  • It is not widely accepted as a payment currency and is only viewed as a memecoin, which is highly volatile.

Read: Dogecoin Price Prediction

 

  1. Cardano(ADA)

ADA Key Metrics  
Current Price $0.50
Circulating Supply 35.6 Billion ADA
Total Supply 36.8 Billion ADA
Maximum Supply 45 Billion ADA
All-time-high $0.7 (May 08, 2021)
All-time-low $0.00008 (May 07, 2015)

Cardano is a public decentralized network built to provide high-end smart contract functionality. Unlike Ethereum, which initially relied on Proof-of-work requiring high computational power before its "The Merge" upgrade in 2022 (which transitioned the Ethereum network to proof-of-stake), the Cardano blockchain was designed to provide tools and technologies to build more sustainable and innovative smart contracts and Dapps by implementing environmentally sustainable protocols like Oroboros and Proof-of-stake.

Founded by Charles Hokinson, a former developer at Ethereum, Cardano is one of Ethereum's rival networks. Charles aimed to create a blockchain that would allow for the creation of more secure, scalable, interoperable, and environment-friendly Dapps. At the time of writing, more than 1,300 Web3 projects are being developed on the Cardano blockchain.

Cardano's ecosystem, driven by its native token ADA, plays a pivotal role in facilitating both payment transactions and governance processes. Therefore, any list of the best crypto to buy in 2024 would be incomplete without including ADA.

Upsides of Cardano

  • Blockchain primarily focuses on environmental friendliness and sustainable development of Dapps at low cost without compromising security, making it appealing to many developers.
  • Cardano is one of the top 10 cryptocurrencies by market capitalization and has gained a prominent user base since its inception.

Downsides of Cardano

  • Over time, Cardano's team has shown little interest in network upgrades compared to the other networks.

Read: Cardano (ADA) Price Prediction

 

  1. Near Protocol (NEAR)

NEAR Key Metrics

 

 
Current Price $6.8
Circulating Supply 1.06 Billion NEAR
Total Supply 1.1 Billion NEAR
Maximum Supply NA
All-time-high $20.4 (Jan 17, 2022)
All-time-low $0.52 (Nov 04, 2020)

Near Protocol is another competitor of Ethereum. It provides a platform for developers to build decentralized applications and deploy AI algorithms and models with the utmost security.

The Protocol addresses the scalability concern that still prevails in many top-notch blockchains. It does it through a unique technique called "Sharding." This approach splits the network into sub-networks to prevent it from becoming too large and overburdened. Near Protocol is faster and cheaper than other Layer1 blockchains and is capable of processing up to 100,000 transactions per second (TPS)

2024 seems a fortunate year for crypto, and with the fostering of the AI trend, NEAR is worth considering for an investment in 2024 that has yielded over 8X returns to its investors since October 2023.

Upsides of Near Protocol

  • Near Protocol stands out for its high scalability. It is one of the fastest networks, processing transactions at a remarkable rate of 100,000 TPS.
  • As the adoption of AI continues to grow, Near becomes more attractive with its extensive AI use cases.

Downsides of Near Protocol

  • It needs to be established in contrast to other well-established Layer-1 blockchains like Solana and Ethereum.
  • It possesses a relatively high degree of centralization.

 

  1. Avalanche (AVAX)

AVAX Key Metrics  
Current Price $39.27
Circulating Supply 378.02 Million AVAX
Total Supply 436 Million AVAX
Maximum Supply 715.74 Million AVAX
All-time-high $146.22 (Nov 21, 2022)
All-time-low $2.7 (Dec 31, 2020)

If we talk about Ethereum's rival networks, the list would be endless, that are being established with the aim of outperforming Ethereum. Avalanche, which was launched in 2020, is one such competitor. It is a cryptocurrency and blockchain platform that aims to be fast, affordable, and accessible and finalizes transactions in just one second. AVAX, the platform's native currency, serves as the primary unit of account to settle transactions and other payments in the Avalanche ecosystem.

On evaluating all the prospects of Avalanche including its development plans we think AVAX could stand out as a potential crypto to invest in 2024.

Upsides of Avalanche

  • The distinctive reward structure of Avalanche motivates participants with AVAX tokens to maintain high uptime and faster transaction processing.
  • AVAX is a multi-chain network that supports distinctive blockchain-based projects, providing an environment for developers to build versatile blockchain projects.

Downsides of Avalanche

  • Avalanche faces tough competition from Ethereum, making it difficult to gain a larger market share.
  • Validators are required to stake a large amount of 2000 AVAX tokens to participate in the network, which hampers active participation in network development.

    Read: Avalanche (AVAX) Price Prediction

 

  1. Shiba Inu (SHIB)

SHIB Key Metrics  
Current Price $0.0002724
Circulating Supply 589.29 Trillion SHIB
Total Supply 589.53 Trillion SHIB
Maximum Supply NA
All-time-high $0.00008 (Oct 28, 2021)
All-time-low $0.000000000081 (Sep 1, 2020)

Shiba Inu is a popular dog-themed cryptocurrency. It was founded by an anonymous founder, Ryoshi, in 2020. It describes itself as a "Dogecoin Killer" and boasts a dedicated community known as "Shibarmy" that is responsible for the project's development.

Despite being criticized for lack of practical use cases and a pump and dump scheme, it has gained the traction of a large number of investors by delivering staggering returns of up to 1000X and remains one of the best cryptocurrency to invest in 2024.

Originally introduced as a cryptocurrency only for fun, Shiba Inu has started focusing on some real-world use cases and recently launched a decentralized crypto exchange in an attempt to build the Shiba Inu ecosystem.

Upsides of Shiba Inu

  • Over the years, with a strong community and significant returns, Shiba Inu has gained the trust of many newcomers, bolstering their confidence in this crypto.
  • Despite being categorized as a memecoin with little intrinsic value, Shiba Inu has achieved the top rank in market capitalization.

Downsides of Shiba Inu

  • Shiba Inu price is more hyped because of its popularity than utility, posing a potentially higher risk for investors looking to invest in some more technically robust projects.

Conclusion

The ever-evolving innovations and endless possibilities in the web3 world necessitate projects catering to these needs. With different projects serving different utilities and purposes, it becomes challenging to select one. While these best cryptocurrency may yield significant returns for investors, there is a slight possibility of disappointment in some instances. Therefore, it is always advisable for investors to keep their investments diversified and stay focused on the research part.

FAQs

1. What are the best cryptocurrencies to invest in 2024?

Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Polygon (MATIC), Ripple (XRP), Cardano (ADA), Dogecoin (DOGE), Avalanche (AVAX), Near Protocol (NEAR) are the best cryptocurrencies that are worth considering to invest in, in 2024. While these projects have their own drawbacks, down the line they can deliver handsome gains to the investors. Nevertheless, any of these crypto could become the next big cryptocurrency in future, that is why it is crucial to keep your investments diversified so you don’t miss out on taking the advantage.

2. Which is the best cryptocurrency to buy today?

Bitcoin and Ethereum are the best crypto currencies that investors can choose to invest today and anyday. These two no-brainer cryptocurrencies are less volatile and have higher growth prospects that can deliver substantial returns in the long-term.

3. Which crypto should I buy now in 2024?

Based on our research and market insights, Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Polygon (MATIC), Ripple (XRP), Cardano (ADA), Dogecoin (DOGE), Avalanche (AVAX), Near Protocol (NEAR) are the best cryptos to buy in 2024. However, it is essential for investors to conduct their own research before investing in any crypto projects.

Disclaimer: The content provided in this blog is purely for informational purposes and should not be considered financial advice. Cryptocurrency markets are highly volatile and subject to rapid fluctuations. Any investment or trading decisions based on the information presented here are at your own risk. We recommend conducting thorough research and consulting with a qualified financial advisor before making any investing decision
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