2024’s Top Ten Altcoins: Diving into the Best of 2024
In Brief
Crypto has become mainstream, with people exploring non-BTC coins like altcoins, which are now among the top ten in the market.
Not so long ago, the words “niche” and “hype” were thrown around quite often when talking about anything related to crypto. But things have changed in the last few years, and it’s almost impossible to see that crypto has become mainstream.
In time, people have looked beyond Bitcoin and started to explore the potential in some of the non-BTC coins on the market. These coins are called “altcoins,” and you can witness the top ten right here.
Ethereum (ETH)
Being a pioneer in the world of cryptocurrencies, Ethereum keeps attracting traders and crypto devotees with its distinctive traits and relentless drive to improve. Similar to Bitcoin, you can use ETH to purchase and sell products and services. What makes Ethereum stand out is that you can create apps that function similarly to software on a computer OS.
As one of the best altcoins in 2024, Ethereum stands out because it has a programmable chain with robust smart contracts. Because of this feature, Ethereum has become an important base for dApps and DeFi protocols, strengthening its influence on the blockchain world.
Ripple (XRP)
With XRP, you may buy and sell a wide range of assets. Despite the high rises and deep lows in recent years, XRP has managed to stay on track.
Plus, the XRP Ledger was the first decentralized exchange (DEX) with a system that let users create their own tokens. This open-source platform has a reputation for being more environmentally friendly than other digital currencies, which might be a factor in its overall appeal. On top of that, XRP is the favorite crypto asset in the financial industry and is a common currency among major banks.
Solana (SOL)
Solana is specifically made to handle dApps and cryptocurrencies quickly and easily.
Solana, often dubbed the “Ethereum killer,” processes transactions at a rate far higher than Ethereum’s. So, it works great for apps that need to handle many activities quickly, like games or video streaming. Besides that, it is a cheaper option for crypto traders than its rival.
Solana has quickly integrated many of Ethereum’s technologies, from DeFi and NFTs to the metaverse, P2E games, and meme coins. These factors have contributed to the continued rise.
Tether (USDT)
As one of the most famous US-pegged coins in the world, USDT is a popular choice for crypto enthusiasts looking to buy stablecoins.
USDT is mostly used to “tether” or keep other coins stable. To hedge against the extreme volatility of the cryptocurrency market, many investors are shifting their holdings into USDT. Thanks to this, the market is more stable, and investors may take advantage of cheap prices to purchase cryptocurrency and sell it at high prices.
In practice, this coin lets people use the blockchain and related tools to do transactions using conventional currencies while reducing the risk and complexity that usually come with crypto.
Binance Coin (BNB)
You can pay for deals and get discounts on the Binance market with BNB, which is the utility currency of a widely popular exchange. You may even utilize BNB to pay for things outside the exchange, like booking a trip or renting a room.
The platform has integrated almost every new cryptocurrency technology to make its community bigger, from NFTs and memcoins to metaverse and P2E gaming models. Such an approach, along with continuous BNB burning, will set the token for a bigger spike in value.
USD Coin (USDC)
Similar to Tether, USDC is another dollar-backed stablecoin that helps traders avoid the continuous volatility in the crypto sector. Plus, being on Coinbase makes it highly accessible.
You can buy, sell, and send money with USDC while using crypto. It allows you to convert crypto to USDC and avoid the hassle of withdrawing funds to a regular bank account or credit card.
Unlike other coins, USDC is a regulated currency in the US, offering more transparency and security than some crypto tokens out there. It’s also a popular choice for cross-border payments, helping users avoid the hassles and hefty fees of traditional wire transfers.
Avalanche (AVAX)
With its emphasis on cheap fees and fast transactions, Avalanche aims to address some of the critical problems other platforms face. AVAX holders can stake their tokens for bigger rewards and participate in yield farming through many projects it runs.
As crypto trading becomes more mainstream and new traders enter the industry, AVAX could be a popular first choice for many. On top of that, the platform has taken many measures to improve its security and stability.
Cardano (ADA)
ADA’s blockchain platform is unique because it is both innovative and well-thought-out. It has been through a lot of peer review, which makes it stand out as a PoS token that could compete with Ethereum.
By creating DeFi products like Ethereum’s, Cardano wants to become a worldwide financial platform. It aspires to tackle some critical issues like interoperability and electoral fraud.
Despite the recent fluctuations, it remains one of the more popular altcoins in the market.
Polkadot (DOT)
Launched in 2016 as a “next-gen” blockchain, Polkadot and its coin, DOT, promised to offer higher scalability, adaptability, and interoperability than previous versions. Establishing a solid foundation for dApps, It has delivered its promises by using “parachains” and bridges that can help simplify customization, boost resource efficiency, and remove interoperability barriers.
Also, DOT is a favorite token in development activities and a plethora of projects, one reason being higher security than other alternatives. It’s also the platform’s staking and governance token, promoting transparency and decentralization.
Dogecoin (DOGE)
Back in 2013, Dogecoin emerged as the first meme coin with seemingly zero utility. Still, it has gained tremendous popularity and value over the years, all thanks to a loyal fan base, a growing meme sector, and celebrity endorsements.
DOGE transactions are quick and cheap, which makes them useful for everyday use and small transfers. On top of that, it’s a popular token used for charities funding humanitarian efforts all around the world, including Kenya.
The inflationary supply system also helps the token dodge market volatility to a certain extent while preventing hoarding.
Disclaimer
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About The Author
Victoria is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.
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Victoria is a writer on a variety of technology topics including Web3.0, AI and cryptocurrencies. Her extensive experience allows her to write insightful articles for the wider audience.
