10 Top Cryptocurrencies To Must Invest in 2024

In the last few years, cryptocurrency has become a prominent participant in the financial markets, competing for a spot in the portfolios of numerous investors. However, it can be challenging for those new to the cryptocurrency market to understand the sector's present situation and make wise decisions. 

Bitcoin and Ethereum continue to rule the cryptocurrency market despite the availability of thousands of other cryptocurrencies. Over two-thirds of the market's capitalization comprises Bitcoin and Ethereum. We examined the current market capitalization, project setup, and possible growth drivers to determine the top ten cryptos for investment. There are Thousands of Cryptocurrencies, each with its value proposition and the possibility of big profits. Choosing the appropriate cryptocurrencies might greatly influence your investing path. 

We have selected a few well-known crypto assets in this blog to help you better understand the market. It's important to remember that this list is not meant to be used as investment advice and is just based on internal research by our crypto experts. Before investing in the cryptocurrency market, we strongly advise all investors to perform complete research.

What Are Cryptocurrencies?

A cryptocurrency is a digital asset based on blockchain technology that can be exchanged without a bank or government's centralized authority. According to research, over two million cryptocurrency projects are currently available, and the market capitalization is $1.76 trillion.

List of 10 Top Cryptocurrencies

1. Bitcoin (BTC)

Market cap: $1 trillion Year-over-year return: 129%

Created in 2009, almost 14 years after its creation, Bitcoin remains the world's most valued and well-liked cryptocurrency. With its public ledger system and blockchain-based, decentralized transaction verification, Bitcoin transformed how people see digital security. It was invented by an anonymous person or group under the pseudonym Satoshi Nakamoto.

Although investors and consumers find Bitcoin appealing due to its decentralization and openness, its energy-intensive proof-of-work consensus process has received criticism, and issues with network scale have also been brought up. Furthermore, some massive cryptocurrency projects offer faster transaction speeds than Bitcoin, and some have unique blockchain architectures that enhance Bitcoin's capabilities.

The price of bitcoin is increasing as it gains widespread recognition. One bitcoin cost roughly $500 in May of 2016. On May 7, 2024, the price of one bitcoin was approximately $63,540. That is a 12,608% gain.

2. Ethereum (ETH)

Market cap: $369.0 billion Year-over-year return: 65%

One of the earliest cryptocurrencies, or bitcoin substitutes, is Ethereum. Other than Bitcoin, Ethereum is the most valuable cryptocurrency. It was introduced in July 2015. Ethereum was the first blockchain to use smart contracts—code that powers decentralized apps, or dApps. The native coin of the Ethereum network is called ether, and over 1,400 applications and developer tools reside on the Ethereum blockchain. Ethereum successfully switched from a proof-of-work consensus method to a proof-of-stake transaction verification system in 2023, which requires significantly less energy. Though its blockchain technology differentiates it from Bitcoin, Ethereum is still a greener investment.

Ethereum has also grown tremendously. Between April 2016 and May 2024, its price increased by 27,829% from approximately $11 to approximately $3,072.

3. Binance Coin (BNB)

Market cap: $87.4 billion Year-over-year return: 86%

One of the biggest cryptocurrency exchanges in the world, Binance, accepts Binance Coin (BNB) as payment for trading fees. Binance Coin has grown since its creation in 2017, going beyond enabling trades on Binance's exchange platform. It was specifically designed as an Ethereum-based utility coin and allowed users to access reduced trading costs on the Binance exchange. However, the coin is now running on Binance's proprietary blockchain. These days, BNB can be applied to various transactions, use cases, and apps. It can be used for travel booking, payment processing, and trading. Additionally, it can be exchanged or sold for other cryptocurrencies like Ethereum or Bitcoin.

4. Tether (USDT)

Market cap: $111.0 billion Year-over-year return: 0%

Tether (USDT), in contrast to certain other cryptocurrency versions, is a stablecoin. This means it is backed by fiat currencies such as the US dollar and the euro and maintains a theoretical value equivalent to one of those denominations. Theoretically, this means that Tether is valued more steadily than other cryptocurrencies, which is why investors who are concerned about the tremendous volatility of other coins prefer it. Tether is still one of the most popular stablecoins in the cryptocurrency space, acting as a vital link between conventional banking and the world of digital assets.

5. Solana (SOL)

Market cap: $69.6 billion Year-over-year return: 631%

Solana was introduced in March 2020. Like Ethereum, its network is compatible with dApps, smart contracts, and non-fungible coins. However, Solana is faster and less expensive than Ethereum due to its more advanced hybrid proof-of-stake and proof-of-history verification mechanism. Unfortunately, since its creation, the Solana network has experienced several outages, which has damaged its reputation in the cryptocurrency community. In February 2023, there was an almost 20-hour outage of the Solana network. Luckily for investors, the XRP court verdict significantly increased Solana's price, and its triple-digit gain in 2023 ranks it the best-performing cryptocurrency on this list. Although Solana has experienced rapid growth in the first quarter of 2024, there is still room for development before it exceeds its all-time high of 260$. However, its substantial market capitalization and elevated liquidity suggest strong investor trust.

6. XRP (XRP)

Market cap: $29.6 billion Year-over-year return: 23%

XRP is a global payments network developed by Ripple as a substitute for the Society for Worldwide Interbank Financial Telecommunications. The international system banks and other financial institutions use for money transfers is SWIFT. However, Ripple claims its technology beats the SWIFT system in terms of speed, cost, and transparency. The native coin for the XRP Ledger blockchain and the Ripple network is called XRP. When a Southern District of New York court decided that XRP is "not necessarily a security" in some situations, potentially putting it outside the SEC's authority, the cryptocurrency received a major boost in July.

7. Dogecoin (DOGE) 

Market cap: $33.2 billion Year-over-year return: 0%

Though Dogecoin was first designed as a spoof of Bitcoin in 2013, many traders have accepted it as a real cryptocurrency because of its simplicity, popularity among prominent supporters, and cute Shiba Inu mascot. DOGE is more affordable than other cryptocurrencies, making it available to a wider range of users. DOGE transactions are renowned for their quickness and inexpensive costs. In 2017, the price of Dogecoin was $0.0002. Its price had increased by 78,273% to $0.16 by May 2024.

8. Toncoin (TON)

Market cap: $20.6 billion Year-over-year return: 196%

Toncoin saw a dramatic change from its initial concept as Gram, which was intended to be a layer-1 blockchain integrated with Telegram's encrypted messaging service. Moreover, Toncoin was quickly abandoned before being taken over by the TON Foundation. Even the project name, originally "Telegram Open Network," was changed to "The Open Network." Both names are abbreviated as TON.

The native token of this network, TON, acts as a medium of exchange for several different ecosystem interactions. Its features include the ability for users to transmit, receive, and safely store money on TON's platform. Among the many competitive characteristics of blockchain networks, TON stands out for its remarkable speed and eco-friendliness.

9. Avalanche (AVAX)

Market cap: $14.0 billion Year-over-year return: 131%

Another new technique introduced is Avalanche, which was launched in September 2020. Avalanche has learned from past initiatives in its quest to become the fastest and safest blockchain. Similar to some other blockchains on this list, Avalanche is a smart contract platform where decentralized programs (dApps) can be developed. In addition, Avalanche differs from other solutions since it works with Ethereum. AVAX, the native cryptocurrency of the blockchain, can be used to cover governance and transaction costs.

10. Cardano (ADA)

Market cap: $16.1 billion Year-over-year return: 21%

Launched in September 2017, Cardano is a decentralized proof-of-stake blockchain that aims to perform better than other proof-of-work blockchains like Ethereum and Bitcoin. Charles Hoskinson, one of the founders of Ethereum, gave Cardano instant legitimacy among cryptocurrency lovers. Like Ethereum, Cardano concentrates on functionality and wants to be the go-to platform for verifiable smart contracts and dApp development. The main cryptocurrency utilized on the network to carry out dApps and enable transactions is called ADA. Users of Cardano can also stake their tokens with ADA to help verify network transactions and get more tokens.

Final Remarks:

Although investing in cryptocurrency can be exciting and profitable, it is also highly risky. If you educate yourself and approach the market cautiously, you can learn more about this exciting world and make smart choices. This is only a partial list of the best options currently available on the crypto market. But this is not financial advice; you should always do thorough research before making cryptocurrency investments.