It can be quite challenging at times to pick which crypto to buy. There are thousands of cryptocurrencies to trade from Bitcoin to meme coins like Dogecoin and Pepe. To help you navigate this vast market, we've compiled a list of seven cryptocurrencies based on technical, and fundamental analysis and their returns to date. So which cryptocurrencies are worth buying today?
7 cryptocurrencies to consider buy today according to analysis:
1. Bitcoin (BTC)
Market cap: $1.2 trillion
Year-over-year return: 89%
Source: CoinMarketCap
What is Bitcoin and who created it?
A lot is happening with Bitcoin in 2024, including the halving in April 2024 and the spot Bitcoin ETF approved early this year by the SEC.
Source: CoinDesk, Investopedia
Bitcoin is a decentralized digital currency that allows peer-to-peer transactions without the need for intermediaries like banks or governments. It was introduced in 2008 by an unknown person or group of people using the pseudonym Satoshi Nakamoto, who published a white paper titled "Bitcoin: A Peer-to-Peer Electronic Cash System." The Bitcoin network was launched in 2009, and it relies on blockchain technology to ensure secure and transparent transactions.
Bitcoin's Last Halving and Its Impact
Bitcoin's last halving happened in April 2024. A halving event occurs approximately every four years, reducing the reward for mining new Bitcoin blocks by half. This mechanism is designed to control the supply of Bitcoin and combat inflation. Typically, after a halving, Bitcoin’s supply growth slows down, often leading to increased scarcity and potential price appreciation over time. Historical trends suggest that halvings could trigger bullish market sentiments, although the exact outcomes depend on various factors, including market conditions and investor behavior.
Disclaimer: Past performance does not guarantee or predict future performance. This article is offered for general information purposes only and does not constitute investment advice.
2. Ethereum (ETH)
Market cap: $365.5 billion
Year-over-year return: 63%
Source: CoinMarketCap
What is Ethereum and who created it?
A lot has been happening with Ethereum of late, including rumors of an Ethereum ETF, which analysts believe will launch soon. How high could the price go? Source: CoinDesk, Cointelegraph
Ethereum is a decentralized platform that enables developers to build and deploy smart contracts and decentralized applications (DApps). It was proposed in late 2013 by Vitalik Buterin, a cryptocurrency researcher and programmer. Development was crowdfunded in 2014, and the network went live on July 30, 2015. Ethereum's native cryptocurrency, Ether (ETH), is used to facilitate transactions and computational services on the Ethereum network.
Disclaimer: Past performance does not guarantee or predict future performance. This article is offered for general information purposes only and does not constitute investment advice.
3. Ripple (XRP)
Market cap: $24.3 billion
Year-over-year return: -7.2%
Source: CoinMarketCap
What is Ripple XRP and who created it?
Ripple XRP has not seen a lot of price movements in recent months compared to other cryptos. They have an ongoing lawsuit from the SEC which hasn't been finalized. How high could XRP go once they settle their lawsuit with the SEC? And will there be an XRP ETF? These are the kinds of questions on everyone's mind right now regarding Ripple XRP.
Ripple XRP is a digital payment protocol and cryptocurrency designed to facilitate fast and low-cost international money transfers. It was created by Ripple Labs, founded by Chris Larsen and Jed McCaleb in 2012. Unlike traditional cryptocurrencies that rely on a decentralized mining process, Ripple uses a consensus ledger and a unique distributed consensus mechanism to validate transactions.
Disclaimer: Past performance does not guarantee or predict future performance. This article is offered for general information purposes only and does not constitute investment advice.
4. Solana (SOL)
Market cap: $63.3 billion
Year-over-year return: 528.6%
Source: CoinMarketCap
What is Solana (SOL) and who created it?
Solana has seen an explosion in its price, thanks to its network, which is fast and secure, supporting thousands of applications and meme coins such as DogWifHat and Bonk, which have greatly increased in price since their launch. How high could Solana go? And will there be a Solana ETF? These are some of the questions that investors are exploring as they consider Solana’s future potential.
Solana is a high-performance blockchain platform designed to support scalable decentralized applications (dApps) and crypto assets. It was founded by Anatoly Yakovenko in 2017, with a vision to create a blockchain network capable of high throughput and low transaction costs. Solana’s innovative Proof-of-History (PoH) consensus mechanism, combined with Proof-of-Stake (PoS), allows it to process thousands of transactions per second, making it one of the fastest blockchains in the industry.
Disclaimer: Past performance does not guarantee or predict future performance. This article is offered for general information purposes only and does not constitute investment advice.
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5. Dogecoin (DOGE)
Market cap: $15.3 billion
Year-over-year return: 64%
Source: CoinMarketCap
What is Dogecoin (DOGE) and who created it?
Meme coins have had a great year, thanks to a strong community and well-known personalities like Elon Musk, who support Dogecoin. How high could Dogecoin go? This question is on many minds as the cryptocurrency world watches Dogecoin’s unique position in the market. Dogecoin is currently the leading meme coin in terms of market cap. Source: Coinmarketcap
Dogecoin is a cryptocurrency that started as a joke but has grown into a major player in the crypto space. It was created in December 2013 by software engineers Billy Markus and Jackson Palmer as a fun and friendly alternative to Bitcoin. Featuring the Shiba Inu dog from the “Doge” meme as its logo, Dogecoin initially aimed to provide a light-hearted cryptocurrency but quickly garnered a large and passionate community.
Disclaimer: Past performance does not guarantee or predict future performance. This article is offered for general information purposes only and does not constitute investment advice.
6. Chainlink (LINK)
Market cap: $7.8 billion
Year-over-year return: 110%
Source: CoinMarketCap
What is Chainlink (LINK) and who created it?
Chainlink is a decentralized oracle network designed to connect smart contracts with real-world data. Created by Sergey Nazarov and Steve Ellis in 2017, Chainlink aims to bridge the gap between blockchain smart contracts and external data sources.
Why is Chainlink worth watching?
Chainlink’s value proposition lies in its unique ability to provide reliable data feeds for smart contracts. As the DeFi (Decentralized Finance) sector continues to expand, Chainlink’s role as a leader in the oracle space positions it for potential growth. The network’s robust partnerships with major blockchain projects and ongoing developments, such as the Chainlink 2.0 upgrade, are anticipated to enhance its functionality and market presence.
Disclaimer: Past performance does not guarantee or predict future performance. This article is offered for general information purposes only and does not constitute investment advice.
7. Polkadot (DOT)
Market cap: $8.6 billion
Year-over-year return: 16%
Source: CoinMarketCap
What is Polkadot (DOT) and who created it?
Polkadot is a multi-chain blockchain platform designed to facilitate interoperability between different blockchains. Founded by Dr. Gavin Wood in 2020, Polkadot enables diverse blockchains to connect and share information, addressing many limitations of previous blockchain systems. Dr. Gavin Wood, one of Ethereum’s co-founders, envisioned Polkadot to overcome fragmentation in the blockchain space and provide a scalable solution for decentralized applications.
Polkadot’s value lies in its innovative approach to blockchain interoperability. The platform’s ability to connect different blockchains and support diverse use cases is pivotal as the DeFi and Web3 sectors continue to grow.
Disclaimer: Past performance does not guarantee or predict future performance. This article is offered for general information purposes only and does not constitute investment advice.
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