Bitcoin (BTC-USD) surged past $30,000 but is now in a correction phase. Many crypto enthusiasts see this correction as temporary, as Bitcoin has strong potential to lead the market higher in 2024. The halving event is a major catalyst, and with peak interest rates, a potential 2024 rate cut could drive a rally in risky assets.
Considering the rise of digital assets, crypto investment is tempting but requires caution due to high volatility. With numerous cryptocurrencies available, start with the top ten by market cap for familiarity and stability. The following have shown strong performance over the past two months with a history of growth.
Ethereum (ETH-USD)
Ethereum (ETH-USD), though often overshadowed by Bitcoin, has its own compelling story. It’s not just about transactions.
Ethereum boasts quick payments and innovative smart contracts. Also, its transition to an eco-friendly proof-of-stake system positions it as an environmental leader. Plus, with founder Vitalik Buterin’s announcement of 55% progress on Ethereum’s upcoming merge, the company has ample potential for rapid growth.
Still, the crypto landscape is evolving with legal challenges and SEC reviews. BlackRock’s surprising court win for its Bitcoin ETF adds hope. Bitcoin’s 58% surge this year and past rate hikes fuel optimism. The $30,000 threshold is pivotal, meaning a strong push beyond it could trigger new highs.
The upcoming halving event, just over six months away, is seen as a potential catalyst for all-time highs. And, BitQuant is even more bullish, projecting Bitcoin will surpass its 2021 peak before April and reach $250,000 per coin in the next halving cycle.
Lido Dao (LDO-USD)
The Lido DAO (LDO-USD) oversees the Lido liquidity staking protocol, simplifying staking for the crypto community. With over $8.5 billion staked, Lido plays a key role of introducing newcomers to the decentralized economy.
Lido initially faced a price drop in early 2022 but rebounded in March after integrating with Polygon. Total Value Locked (TVL) surged from $13.95 billion to $20.83 billion on April 5, and LDO hit $4.90 on that day.
The company simplifies staking for PoS networks, allowing users to earn rewards by delegating tokens to trusted validators who maintain network integrity and share rewards. LDO offers community empowerment and decentralization. Also, it ensures security through third-party audits, making it a trustworthy platform for liquid staking services.
Basic Attention (BAT-USD)
Basic Attention (BAT-USD), integrated with Brave browser, offers privacy, ad rewards in BAT tokens, and direct payments to creators. It transforms online ads by empowering users, extending its network beyond Brave. Users earn BAT while browsing, making it unique and revolutionizing online advertising.
In July, Basic Attention founder Brendan Eich announced on-chain BAT payouts without KYC, a privacy-focused step in BAT’s roadmap to improve user experience.
Despite growing AI integration in web browsers like Microsoft’s Edge, Brave Browser maintains its popularity among users who value ad-blocking and privacy features. While AI, like ChatGPT, gains traction, the Brave community also seeks to incorporate such technology into their platform.
On the date of publication, Chris MacDonald has a LONG position in ETH. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
