5 cryptocurrencies worth buying in 2024
Analysts and traders are on the same page: 2024 is gearing up for a robust bull market. Most coins are anticipated to see substantial growth, potentially hitting new price highs, and maybe even doing it multiple times throughout the year.
While the market is currently in the accumulation zone, now’s the best time to freshen up your crypto wallet for the long hold, which means storing assets with subsequent sales when they rise in price. But before you buy anything, let’s take a closer look at the best cryptocurrency to invest in 2024.
Surely, we’re skipping the talk about bitcoin or ethereum. Those are basic assets that should be part of every crypto portfolio, no matter what’s going on in the market. Instead, this year, we suggest focusing on the currently undervalued so-called fundamental coins — ones with a solid technical foundation and an innovative development team.
Best cryptocurrency to buy now
Cardano (ADA)
What makes Cardano the best cryptocurrency to buy in 2024 are its strong, seasoned team, a robust ecosystem, advanced technology and a massive community. Cardano consistently ranks among the top ten platforms in terms of developer activity, showing it’s on a fast-paced development track.
Long-term investors, often referred to as the “strong hands,” are also recognising these advantages. According to data from Santiment, they’ve been actively acquiring ADA in recent months, while the “weak hands” (investors who lack confidence or resources for their trading strategies) have been offloading the coin. Historically, this kind of movement is seen as a bullish signal — experienced investors shifting their capital into the asset.
Due to these moves, the price of ADA has soared by over 150% in the past few months of 2023, reaching beyond $0.6 per coin. On 9th January, its price is $0.54.
>> Buy ADA
However, analysts at EXMO.com believe its fair value is even higher — somewhere between $1–1,2. There’s a chance that in the midst of a bullish market, the asset will surpass its previous highs.
By the way, we’ve recently added ADA to our Earn program, so you can start earning on this asset right now, without waiting for prices to rise.
Polkadot (DOT)
Polkadot is a unique platform that facilitates interaction between different blockchains without intermediaries. Similar to Cardano, the developers behind Polkadot are among the most active in the market, as you can see in the ranking above.
Moreover, based on the Nakamoto coefficient, this blockchain holds the second position among all Proof of Stake networks. This coefficient indicates the minimum number of nodes that attackers would need to control to disrupt the network. The higher the indicator, the more decentralised and resistant the blockchain is considered. In the case of Polkadot, it boasts a substantial 92 nodes. To put it in perspective, Ethereum doesn’t even crack the top ten, and Solana, sitting in fifth place, has just 21 nodes!
Additionally, the platform can introduce new features and address issues without the need for major upgrades, significantly expediting blockchain development. These are just some of the advantages, but the bottom line is clear: Polkadot is an exceptionally promising project, making it a worthy cryptocurrency to invest in.
Like ADA, DOT is currently undervalued in the market. According to our analysts, its price was $7,72 on 9th January 2024, while its fair value was estimated to be between $15–17 per coin.
>>Buy DOT
Follow the link to read the whole article 5 cryptocurrencies worth buying in 2024 on EXMO.com!
