Cryptocurrency is gaining in popularity as blockchain becomes more widely assumed. There are more initiatives to invest in than you could ever recall. The issue for anyone seeking to invest in cryptocurrencies today and plan for the coming year is: what is the best coin to buy and invest in? What about 2024 in the long run? There are dozens of cryptocurrencies, ranging from Bitcoin, Tether, Ethereum, and Dogecoin, which might be intimidating if you’re new to the cryptocurrency world. To help you navigate, below are the top ten cryptocurrencies ranked by market value or the total value of all coins in trend.

What is cryptocurrency?

Cryptocurrency is a digital currency that allows people power over their finances. It is not affiliated with any central bank or government and enables safe and anonymous transactions that do not require a broker. Cryptocurrency employs powerful encryption techniques that allow it to reside on its computer network. These computers collaborate to verify each transaction with extra levels of security and anonymity. Because it is entirely virtual, no real money gets exchanged, allowing you to purchase with cryptocurrencies anywhere they are accepted as payment. As more individuals adopt digital payment methods, cryptocurrencies may become a future norm in our ever-changing global economy.

Bitcoin (BTC):

Bitcoin was the engine for the entire cryptocurrency boom, the elder and most prominent crypto asset. Since its modest start in 2009, it has risen to unprecedented heights, capturing the attention of investors, the media, and companies. The network serves as an alternate payment mechanism to cash and is safe via a Proof of Work agreement. Capture all trades on a blockchain, and miners receive incentives for each block of transactions they validate. The most famous token drives significant investment in the enterprise. It is stable when compared to other younger crypto coins.

Ethereum (ETH):

Ethereum, a cryptocurrency and blockchain forum, is popular among software developers due to its potential uses, including smart contracts that run automatically when certain conditions are satisfied and non-fungible tokens (NFTs). Ethereum has also seen remarkable development. We feel that this institutional interest is a significant benefit for HODLing. The proposed EIP-4844 proposal has the potential to dramatically cut gas prices for Layer 2 blockchains built on Ethereum. It would be another success for Ethereum, perhaps increasing its value even higher.

Binance Coin(BNB):

BNB is a cryptocurrency released by Binance, one of the world’s prime cryptocurrency trades. BNB was created as a utility token based on the Ethereum network, allowing users to receive cheaper trading costs on Binance. However, the coin has subsequently get migrated to Binance’s blockchain. You can utilize BNB for several transactions, apps, and other scenarios. Unluckily, Binance’s US market share declined in 2023 when the Securities and Exchange Commission of the US sued the trade, claiming breaking securities laws.

Cardano (ADA):

Cardano is a blockchain outlet that seeks to create a successful, tolerable, and extensible platform for developing and deploying decentralized apps and smart contracts. It is to facilitate the creation and execution of smart contracts and decentralized applications (dApps) while tackling the connectivity, scalability, and long-lasting challenges that plague current blockchain platforms. Cardano is a divisive project with a large community but also several detractors. Their heavy emphasis on development research makes them slower than other initiatives but perhaps more robust.

Kanga Moon (KANK):

KangaMoon (KANG) is a DeFi initiative that aims to propel the meme coin society into the next phase. KangaMoon combines Social Fi and GameFi capabilities to create a unique environment where meme fans may earn free tokens for their involvement. Social-Fi is at the center of the platform, hosting numerous competitions in which users will be encouraged to engage continually. There will be monthly and week-long contests, with victors receiving free KANG tokens and other rewards.

Tether (USDT):

Tether is a stablecoin based on the US dollar. It is presently the third-largest cryptocurrency and one of the most widely used stablecoins. The primary function of Tether is to “tether” or support other cryptocurrencies. Investors frequently transfer their funds to USDT to avoid significant losses when the crypto market swings dramatically. It stabilizes the market and allows you to purchase cryptocurrency when it’s cheap and sell when it’s expensive.

Solana (SOL): 

Solana was to alleviate the Ethereum network’s excessive fees and sluggish transaction times. The blockchain topology is more robust and productive than other blockchains, making it a preferred option for cryptocurrency betting. Despite being a popular investment, Solana struggled and got disrupted in recent years due to its strong relationship with FTX CEO Sam Bankman-Fried. Solana is still a popular alternative, ranking among the top ten cryptocurrencies by market capitalization.

Ripple (XRP):

Ripple is a foreign exchange, real-time gross settlement technique, and payment network created by Ripple Labs Inc., a US-based technology business. XRP is a digital payment asset designed to provide an option to the Society for Worldwide Interbank Financial Telecommunications (SWIFT), the global system used by banks and other financial organizations to move money. It is the original digital currency of the XRP Ledger, a permissionless, open-source, and decentralized blockchain technology that pays transactions in 3 to 5 seconds. It is also worthwhile to invest in XRP since it is not only a wise cryptocurrency option owing to its unique characteristics, but it is also a currency now in decline. It implies it has the potential to soar even farther and cross the $1 milestone again.

Dogecoin (Doge):

Dogecoin began as a joke in 2013, but it became a popular cryptocurrency owing to an active society and innovative memes. Unlike numerous other cryptocurrencies, there is no restriction on the amount of Dogecoins that can be issued, leaving the currency subject to depreciation as supply grows.

Avalanche (AVAX):

Avalanche is another relatively new procedure. The mainnet launched in September 2020. Avalanche appropriates it has discovered from past projects in the contest to be the quickest and most protected blockchain. Avalanche is an intelligent contract venue for decentralized applications (dApps) like many of the other blockchains on this list. What distinguishes Avalanche is its compatibility with Ethereum. The blockchain’s native coin, AVAX, may be used to pay transaction and governance fees.

LiteCoin (LTC):

Litecoin is a cryptocurrency that debuted in 2011 as a “light” version of Bitcoin. It has a variety of distinctive traits, including more rapid marketing times and more reliable storage. Litecoin get used as a testnet for Bitcoin. It implies that developers may test new attributes on Litecoin before deploying them on Bitcoin. It is one of the earliest cryptocurrencies, along with Bitcoin, and has a considerable following.

Chainlink (LINK):

The Chainlink protocol attempts to increase the security and decentralization of contracts across many blockchain platforms. It gets accomplished by utilizing trustworthy and secure data sources, various off-chain calculations, and end-to-end decentralization. The chainlink token has already witnessed massive increases in 2023. But as the backbone infrastructure for the whole Web3, we predict that general market expansion in 2024 will influence Chainlink as demand for its services rises.