We are heading closer to the upcoming Bitcoin (BTC-USD) halving event in April. Some cryptos can give investors the best chance to grow their wealth through digital asset investments.

The pivotal Bitcoin halving, an event that happens approximately every four years, reduces the reward for mining new blocks by half, effectively decreasing the rate at which new bitcoins are generated. This scarcity mechanism has historically led to significant price increases in the months preceding and following the event. In the usual law of economics, reduced supply and increased demand pushes prices higher.

Given the potential impact of the halving on the crypto market, investors are keenly looking for cryptocurrencies that could benefit from this event. While Bitcoin itself is an obvious choice, diversifying into other promising digital assets could offer additional growth opportunities and hedge against Bitcoin-specific risks.

So, let’s delve into three cryptos that investors can consider now.

Ethereum (ETH-USD)

Ethereum (ETH-USD) is a prominent blockchain platform known for its smart contract functionality and decentralized applications (dApps). The price of Ethereum is expected to fluctuate throughout the year. The minimum price is projected to be around $1,876.57, with a maximum reaching up to $3,336.94. However, I believe that ETH could surge far higher than this, given Bitcoin’s recent ascent to $55,000 per coin.

Many exciting features accentuate ETH’s roadmap this year. Following the successful transition from Proof of Work (PoW) to Proof of Stake (PoS) through the merger in September 2022, Ethereum will prioritize the implementation of Single Slot Finality (SSF). This upgrade aims to address the network’s current limitations. It will allow blocks to be proposed and finalized within the same slot, thereby significantly reducing the time-to-finality by up to 15 minutes.

For investors, this could lead to faster transactions, increased scalability, and enhanced security and sustainability. All of these factors are important for people looking for cryptos to invest in for a new era of digital wealth.

Chainlink (LINK-USD)

Chainlink (LINK-USD) is a decentralized oracle network that aims to connect smart contracts with data from the real world. I believe that LINK offers investors an excellent opportunity to increase their digital wealth. 

This year could prove to be both exciting and accretive for LINK investors. The project has announced plans to continue expanding its Cross Chain Interoperability Protocol (CCIP). This will meet the growing demand of capital markets transitioning onto the blockchain. The move aims to bridge the gap between decentralized finance (DeFi) and traditional finance.

Essentially, it would allow property investors, for instance, to tokenize their physical real estate on the blockchain and then sell those tokens to other investors. Then, this would allow those new holders to have fractional ownership of the home. And that would be a giant leap forward in the investing world.

If implemented successfully, LINK’s solution could open up new avenues for digital wealth.

Cardano (ADA-USD)

Known for its strong focus on security and sustainability, Cardano (ADA-USD) is often hailed as a third-generation cryptocurrency. I also think it has great potential to mint a new generation of wealthy investors.

With its Alonzo upgrade, Cardano introduced smart contracts to its platform, opening new opportunities for DeFi, NFTs, and other blockchain applications. The upcoming Bitcoin halving could increase investor interest in alternative cryptos like ADA, potentially boosting its price.

In terms of price action for ADA, outlooks appear attractive. For August 2024, the long-term prediction indicates an average ADA price of $0.75, with a maximum possible price of $0.80. However, ADA only has a market cap of around 21 billion at the time of writing. Therefore, there is potential for it to surge past this estimate.

On the date of publication, Matthew Farley did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.