Coins with outstanding price increase potential in 2024
The reason for the decline is related to rumors that the U.S. Securities and Exchange Commission (SEC) rejected a Bitcoin ETF for immediate trading, making the market sensitive to legal information.
Despite these price drops, Bitcoin has shown the potential for recovery, rebounding to around $43,473 at the time of writing.
For savvy investors, such price drops present an opportunity to enter the market at lower prices, setting the stage for profits in subsequent price increases.
Here, we will explore five cryptocurrencies that have been recognized and positioned in the market, with the potential to lead as the market enters a bullish phase in 2024.
1.Ethereum: Expected upgrades and efficient operations
Ethereum has become one of the largest cryptocurrencies in the crypto space, with recent developments and improvements aimed at a brighter future.
The Ethereum network is expected to undergo significant improvements, including EIP-1153 to reduce gas fees and enhance the performance of smart contracts, along with EIP-4844 to increase data availability for layer 2 solutions.
Vitalik Buterin's roadmap for 2024 has attracted investor interest, contributing to a nearly 10% price increase in Ethereum after its announcement.
With the ongoing development and upgrades to the Ethereum ecosystem, including the Goerli testnet and the launch of the Holesky upgrade, the value of Ethereum in the cryptocurrency market is expected to continue rising.
2.Solana: Heading for a year of advanced development
Solana's price has experienced various fluctuations recently, but historical data indicates that January is typically a month of cryptocurrency market price increases.
In 2023, Solana's thriving ecosystem achieved notable milestones, such as the launch of the Saga mobile phone and the "migration" of the Helium community to the Solana blockchain.
The development of DeFi 2.0 on the Solana platform, coupled with community growth and partnerships with organizations, emphasizes Solana's potential as it enters 2024.
3.Cardano: Growth despite legal obstacles
Cardano's ADA token recorded a growth of over 150% in 2023 and continues to show an upward trend in 2024.
The Cardano ecosystem has witnessed significant expansion, with the emergence of DEX platforms like Minswap and NFT exchanges like JPG Store gaining substantial attention.
Despite strict SEC regulatory scrutiny, analysts offer different prospects, ranging from modest growth to ambitious targets.
Cardano's market signals may be influenced by general trends, but continuous development and community engagement from IOG could quickly drive ADA prices upward.
4.Polkadot: Seeking advantages in the market
Polkadot has experienced price fluctuations recently, but indicators show that DOT prices are trending upward.
Analysts have provided different forecasts for 2024, and the integration of real-world assets into the blockchain through the encrypted US Treasury bonds and developments in Polkadot's NFT ecosystem have positioned it favorably against competitors.
Despite a slight decrease, Polkadot remains strong with a 65% increase in the previous month, and initiatives like OpenGov Referendum 377 could reinforce its position in the market.
5.Polygon (MATIC): Breaking through resistance levels
Polygon's (MATIC) price has broken through significant resistance levels, signaling an upward trend and leading to optimistic price predictions for the year.
Technological advancements, including the acquisition of knowledge-lacking startups and the planned replacement of MATIC with POL, have upgraded Layer 2 services on Polygon.
Increasing network activity and high usage of zkEVM are positive signs for sustainable growth, even as TVL has recently experienced a slight decline.
With MATIC trading around $1.02 and a recent weekly increase of 17%, this token is predicted to rise in the market.
These mentioned cryptocurrencies exhibit unique values and significant growth potential during the anticipated bull market in 2024.
With technological advancements and market infrastructure, these native tokens may experience substantial price increases, benefiting investors with a strategy to buy at lower prices.
