Due to widespread adoption over the past few years, cryptocurrencies are steadily creeping into the financial industry. As cryptocurrencies become part of many individuals' daily lives, many projects have found other uses beyond serving as the primary means of transaction, such as staking, lending, DeFi, and store of value.
However, there are many cryptocurrencies in the market; hence, it is difficult for investors to make a decision on which one of the numerous digital currencies to pick. This article will present the top 10 cryptocurrencies that any investor would need to own for huge returns in Q1 2024.
What Are Cryptocurrencies?
Cryptocurrencies, often referred to as digital assets, were created to be used for transactions, but without the need for middlemen. The industry has grown tremendously over the past few years, and now has surpassed 20,000 projects, according to CoinMarketCap data, and more are always being launched.
With an estimated $1.9 trillion in total market capitalization, the cryptocurrency industry is expected to continue growing in the foreseeable future.
- Pullix (PLX)
- Market Cap: $28 million
Pullix (PLX) is a platform that aims to combine DeFi and the exchange market by providing a solution to the common problems in crypto exchanges, like liquidity, security, and high fees. Pullix would bear the best traits of centralized and decentralized crypto exchanges on its platform.
Being a hybrid platform means having the security and independence of DEXs along with the speed and ease of use of CEXs.The platform allows trades to be made anonymously since it values user privacy. Without the necessity for KYC checks, traders can begin trading with just an email address.
Pullix has just entered the bonus stage of its crypto ICO with less than 5 million tokens left before it is sold out. Now priced at only $0.14 per coin, PLX has been ranked among the best altcoins to buy now.
Of course, some smart investors are already taking advantage of the sale to stack up the token as it is cheap before the official launch in the next few weeks. PLX has been predicted to experience gains of up to 25x in Q1.
- Bitcoin (BTC)
- Market Cap: $1.03 Trillion
Bitcoin (BTC), considered by many to be the cryptocurrency of reference, became increasingly popular in 2024, immediately after the approval of the Bitcoin ETF in January. However, the impact of this approval on the proceedings of cryptocurrency was not immediate.
Cryptocurrency has gone through large inflows of institutional investment, which, in turn, has contributed to pushing the Bitcoin price above the $53,000 mark.
Finally, this resilience may boost the confidence of crypto analysts that Bitcoin's price will experience a surge in Q1 2024. In a bullish scenario, future support levels at $60K or even its ATH may be broken in Q1.
- Ethereum (ETH)
- Market Cap: $375 billion
Ethereum (ETH) is a notable digital currency that can be used to pay as well as provide a platform for smart contract implementation since the network is designed for the purpose. Ethereum (ETH) experienced a decline and closed below the $2,000 mark in 2021. However, since the beginning of 2024, the bulls have combined efforts and shown unwavering strength.
As mentioned by CoinMarketCap, they have achieved a bullish price in the Ethereum market, leading the price above the $3,000 threshold. Consequently, ETH comes across as one of the best coins to invest in for huge returns in Q1 of 2024.
Ethereum's next major mainnet upgrade, Decun, will be performed in March. The upgrade, which seeks to reduce gas fees on the Ethereum network, could attract a large influx of users. Consequently, this will positively affect Ethereum's price.
- Injective (INJ)
- Market Cap: $3.4 billion
Riding the AI wave to new heights in 2023, Injective (INJ) is often hailed as the first blockchain to provide auto-executing smart contracts. Following a remarkable performance in 2023, the Injective coin has continued its amazing success in 2024, reaching a new high of $45.19 in January.
This bullish trend in the first quarter of 2024 appears to be Injective's path to being one of the top altcoins of the quarter. In addition, the plan encompasses a token-burning process that will be intended to reduce the supply of its token and, as a consequence, increase its token value.
- Binance Coin (BNB)
- Market Cap: $59.2 billion
Binance Coin, the native token of the Binance exchange, also produced a stellar performance in 2024. It has increased more than 30% from a monthly low of $296.56 to a peak of $398.46, with potential for more gains in this first quarter.
The altcoin price chart shows that it is bullish, trading above the 50,100 and 200-day SMAs. Analysts are bullish on Binance Coin trading above $400 in Q1 2024.
- Filecoin (FIL)
- Market Cap: $4.1 billion
The native token of the blockchain-based digital storage system, Filecoin (FIL), has experienced significant price gains in 2024. Solana's use of it to improve historical data accessibility served as the most recent catalyst.
Filecoin's price shot up to $8.55 after the announcement, from a 7-day low of $6.91. Filecoin's massive gains of 19.5% and 54.4% on the weekly and monthly timeframes reinforces the potential for more gains in Q1 2024.
- Kaspa (KSP)
- Market Cap: $3.9 billion
Kaspa is a decentralized mining system launched in November 2021 with a blockDAG structure that combines speed and large records in the shortest time. It has limited the supply to 28.7 billion shoes and has a built-in halving event every year accompanied by monthly adjustments in the reserves.
Kaspa set an all-time high of $0.1894 on February 20th. It has increased by 62.3% on the monthly price chart. This altcoin price chart indicates a 1,808.4% year-to-date growth, which makes it possible to increase even further in the first quarter.
- Stacks (STX)
- Market Cap: $4.06 billion
Stacks (STX) provides a platform for smart contracts and decentralized apps to operate on the Bitcoin blockchain. By holding and using STX tokens, participants can participate in the network's consensus process, earning Bitcoin as a reward for their contributions to maintaining the system.
STX price has increased 82.9% in the past month due to users' growing interest in Layer-2 Bitcoin. This massive interest is due to the popularity of the BRC-20 token standard and ordinary inscriptions. Analysts are forecasting more activity and increased price growth in Q1 2024.
- Sui (SUI)
- Market Cap: $1.9 billion.
SUI (SUI), the layer-1 blockchain, in a short time period has witnessed a huge amount of new projects being built on top of it, consistently increasing its total value locked (TVL). That's why it supports brands like Hello Moon, which is its latest partner project. The collaboration will make it possible for Sui users to interact with DeFi projects and NFTs, among other network protocols, on the Sui Network.
Regarding the price movement, Sui touched an all-time high of $1.96 as of February 14th. Hence, some experts are estimating that its price may increase up to $3 by the end of Q1 2024.
- ApeCoin (APE)
- Market Cap: $1.2 billion
ApeCoin (APE), the native token of the ApeCoin ecosystem, showed a massive market recovery in 2024 after a bearish season last year. The latest price rally comes after Yuga Labs bought Proof.
As part of the deal, Yuga will acquire the team and intellectual property of Hollywood-based Proof, including its NFT community, Proof Collective. The altcoin price surged 40.6% in the past month, reaching a peak of $2.02.
For more information regarding Pullix’s presale see links below:
