Top 5 Cryptocurrencies Poised for Explosive Growth in 2024
As we say goodbye to 2023 a year marked by a sluggish pace in the crypto market, all eyes are now focused on new blockchain developments and which crypto will explode in 2024.
The upcoming Bitcoin halving event and the buzz surrounding a bull market have captured the interest of investors and crypto enthusiasts.
Moreover, there is growing anticipation regarding the approval of the Bitcoin ETF, which could bring a level of mainstream credibility and accessibility to the crypto space in 2024.
If you have ever regretted missing out on the cryptocurrency booms of 2017 and 2020, now is your chance to shine.
This is not the time for waiting; it’s a time for action. As the crypto industry matures, choosing the coin to invest in has become more challenging.
In this spirit, we have thoughtfully compiled a selection of altcoins that deserve your attention.
These tokens are positioned to make advances in a bull market that may just be around the corner. Are you ready to discover these coins? Lets dive in and explore them.
Table of Contents
Which crypto will explode in 2024?
Kaspa (KAS)
Fundamental Analysis
Kaspa stands out for its groundbreaking blockDAG architecture, a significant leap from traditional blockchain technology.
This innovation allows for faster and more efficient transactions, making Kaspa highly scalable and suitable for a wide range of decentralized applications.
Its focus on enhanced security and high-speed transactions positions Kaspa as a frontrunner in the crypto space, especially for applications requiring quick confirmations.
The project’s commitment to continuous development and adaptation to the evolving needs of the decentralized world underscores its potential for long-term growth and sustainability, making it a compelling choice for investors in 2024.
Technical Analysis
KAS has exhibited a remarkable trajectory since its launch, especially gaining momentum in late 2023 following its listing on Binance Futures.
2023 started with KAS trading at $0.0052 and saw an impressive rise to $0.15, marking an increase of 2,818%.
Currently, the trading value of KAS fluctuates from $0.06 to $0.17.
The 10-day moving average for Kaspa is currently at $0.11, while the 100-day moving average is at $0.08. The critical support level for Kaspa is established at $0.079.
On the other hand, resistance levels are $0.140 and $0.216.
KAS/USDT Price Chart
Looking ahead, price predictions for Kaspa are optimistic, with expectations of it reaching potential highs of $0.50 in 2024 and $1.10 in 2025.
If Kaspa successfully breaches the current resistance level of $0.140 and maintains its momentum above this threshold, it could signal a strong bullish trend, potentially paving the way for it to test the next resistance at $0.216.
Such a move would reinforce investor confidence and set the stage for Kaspa to achieve the projections we discussed earlier.
Market Sentiment
The market sentiment around Kaspa is overwhelmingly positive. So much so that it cracks our list of which crypto’s will explode in 2024.
It’s gaining attention for its innovative approach to blockchain technology, setting it apart from other cryptos out there.
This positive sentiment is bolstered by a growing interest in technologies that offer scalability and efficiency, which are at the core of Kaspa’s design.
The buzz in various crypto forums and social media platforms indicates a strong belief in Kaspa’s future, making it one of the most promising cryptos to invest in for 2024.
See related: crypto predictions for 2024
Hedera (HBAR)
Fundamental Analysis
Hedera Hashgraph is recognized for its unique hashgraph technology, which sets it apart from traditional blockchain systems.
This technology enables high-speed transactions and improved scalability, making it a standout choice for enterprise-grade applications.
Hedera’s governance model, led by a council of reputable organizations, adds a layer of trust and stability, appealing to institutional investors.
The platform’s focus on energy efficiency and low transaction fees further enhances its attractiveness.
These fundamental strengths position Hedera as a promising investment in the crypto market for 2024, especially for those looking for innovative and sustainable blockchain solutions.
Technical Analysis
Currently, HBAR is trading in a price band between $0.07 and $0.09.
The 10-day moving average for HBAR is noted at $0.09, and its 100-day moving average rests at $0.061.
Key support levels for Hedera are identified at $0.06 and $0.056. Meanwhile, resistance levels are set at $0.09 and $0.12, which are expected to be crucial in shaping its future price movements.
HBAR/USDT Price Chart
Market Sentiment
The market sentiment towards Hedera is largely positive, driven by its innovative approach to blockchain technology and its growing ecosystem.
The platform’s partnerships and collaborations with major corporations have bolstered confidence in its potential for widespread adoption.
The crypto community is particularly excited about Hedera’s applications in various sectors, including finance, healthcare, and entertainment.
This positive sentiment makes HBAR a compelling choice for investors looking for cryptos with a strong future outlook in 2024.
Fantom (FTM)
Fundamental Analysis
Fantom stands out in the blockchain space with its high-performance, scalable, and secure platform.
It is powered by its unique consensus mechanism, Lachesis, which enables extremely fast transaction speeds at a low cost, a critical factor for DeFi applications and real-world use cases.
Fantom’s ability to execute smart contracts quickly and efficiently positions it as a strong competitor to other established blockchain platforms.
These factors make Fantom an attractive option for investors looking for innovative and practical blockchain solutions in 2024.
Technical Analysis
Currently, FTM is trading within a range of $0.23 and $0.57.
The 10-day moving average for FTM is positioned at $0.50, while its 100-day moving average is at $0.29.
Essential support levels for Fantom have been identified at $0.31, with further support at $0.29.
On the other hand, resistance levels are established at $0.59, which are anticipated to play a significant role in determining the future price trajectory of Fantom.
FTM/USDT Price Chart
Market Sentiment
The market sentiment around Fantom is overwhelmingly positive, driven by its advanced technology and potential for widespread adoption.
The crypto community has shown great interest in Fantom’s fast and efficient platform, particularly for DeFi applications.
This positive sentiment is bolstered by the platform’s regular updates, growing ecosystem, and strategic partnerships, which demonstrate its commitment to long-term success.
Sei (SEI)
Fundamental Analysis
Sei Network positions itself as the fastest Layer 1 blockchain, specifically optimized for trading applications.
Its unique infrastructure is tailored to enhance the performance of trading apps, including DeFi DEXes, NFT marketplaces, and gaming DEXes.
The native order-matching engine integrated into Sei’s Layer 1 allows exchange apps built on it to scale effectively, setting it apart from other blockchains.
Sei’s Twin Turbo consensus, comprising intelligent block propagation and optimistic block processing, significantly reduces the time to achieve consensus, offering a lower bound time to finality of 300ms.
This focus on speed and efficiency, along with its market-based parallelization, makes Sei an attractive platform for developers and investors.
Technical Analysis
SEI is currently trading between $0.57 and $0.14.
The 10-day moving average for SEI is currently at $0.42, while the 100-day moving average stands at $0.18. Key support levels for Sei are established at $0.23, with additional support noted at $0.18.
Conversely, resistance levels are identified at $0.66, which are expected to be pivotal in influencing Sei’s future price movements.
SEI/USDT Price Chart
Looking ahead, price predictions for SEI are highly optimistic, with forecasts ranging from $1 to $1.5 by 2024 and further substantial growth anticipated up to $2 to $2.8 by 2025.
Market Sentiment
The market sentiment towards Sei is positive, particularly due to its specialization in trading applications and its impressive technical capabilities.
The launch of Sei and the subsequent trading volume reaching over $1 billion highlight the strong interest and confidence in its potential.
Sei’s focus on solving scalability issues for DEXes and providing infrastructure tailored for trading apps resonates well with the crypto community, especially those involved in DeFi, GameFi, and NFTs.
See related: the most boring trend in crypto you need to know
Algorand (ALGO)
Fundamental Analysis
Algorand stands out with its unique Pure Proof-of-Stake (PPoS) protocol, which addresses the blockchain trilemma by achieving security, scalability, and decentralization without compromising on any front.
Algorand’s commitment to sustainability, demonstrated by its carbon-negative network, also appeals to environmentally conscious investors.
The platform’s continuous development, strategic partnerships, and growing adoption in various sectors underscore its fundamental strength, making it a compelling investment choice in 2024.
Technical Analysis
Currently, ALGO is trading within a range that oscillates between $0.13 and $0.23.
The 10-day moving average for ALGO is recorded at $0.22, while its 100-day moving average is at $0.13. The essential support level for Algorand is at $0.13, with the resistance level identified at $0.27.
ALGO/USDT Price Chart
Algorand has shown a remarkable performance in the recent crypto market rally, with a 70% surge gain in December alone.
Algorand’s current price stands at $0.23. Looking ahead, ALGO price predictions are optimistic, with predictions for 2024 ranging between $0.45 to $0.5.
Market Sentiment
The market sentiment around Algorand is largely positive, driven by its innovative approach to blockchain technology and its potential for widespread adoption.
The crypto community has shown significant interest in Algorand’s efficient and scalable platform, particularly for institutional and large-scale applications.
This positive sentiment is bolstered by Algorand’s active development community, regular updates, and increasing visibility in the blockchain space.
Bottom Line
As we approach the threshold of another exciting year in the crypto world, monitoring the ever-changing market is crucial.
The tokens we’ve discussed today provide a glimpse into the diverse landscape of digital assets, each holding immense potential.
Make sure to keep these tokens on your watch list, as they could play a crucial role in multiplying your portfolio.
Always remember to stay well informed, remain vigilant, and stay tuned for more interesting crypto knowledge.
Disclaimer: this is not financial advice. Please consult a licensed financial advisor prior to investing.
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[…] That’s in line with our 0.54 price target for FTM in 2024 – with potential upside to 0.70 if the overall crypto market booms. (Hint: we think it will). […]