The Bitcoin (BTC-USD) halving event has finally arrived, reducing mining rewards from 6.25 to 3.125 BTC and the stage is set for many cryptos to take off over the next six months. If history is any indicator, Bitcoin tends to correct leading up to the halving, then enters a frenzied bull market in the months after. This time, the run-up started early thanks to spot ETF inflows. Now, combine that with the halving and potential Fed rate cuts, and we could witness parabolic gains even from today’s levels.
In my view, this is an opportune moment to bolster crypto holdings before the next leg up. Bitcoin remains an obvious buy, but coupling it with quality altcoins can unlock exponential returns during the impending altseason. You’d always want to balance risk versus reward. While Bitcoin offers lower risk, its days of massive gains may be in the past. Smaller cryptos represent the high-risk, high-reward end of the spectrum, but also a chance to turn modest capital into potential millions.
Let’s take a refresher and explore some of the top established cryptos and also some under-the-radar moonshot bets that can go vertical.
Bitcoin (BTC-USD)
There’s not much more to say about Bitcoin beyond what I’ve already covered. The original and largest cryptocurrency remains the premier digital asset for payments and a store of value. While it may lack the flashy Web 3.0 capabilities of some newer projects, Bitcoin’s first-mover advantage and proof-of-work model have cemented it as the safest, most decentralized blockchain.
Its digital scarcity all but guarantees long-term appreciation. If you simply hold BTC for years at a time, you’ll likely make a tidy profit. Sure, it doesn’t have the sizzle of the latest meme coin. But Bitcoin is the 800-pound gorilla that anchors the entire crypto space. As institutional money pours in and adoption spreads, BTC will keep reaching new highs.
Once this halving event is fully baked in, I wouldn’t be surprised to see Bitcoin eclipse $100,000 or beyond in the coming months. Its programmed supply crunch combined with rising demand is a recipe for explosive gains from current levels. While the ride will be volatile, Bitcoin remains the crypto heavyweight champ that you can buy and comfortably hodl.
Ethereum (ETH-USD)
As the second-largest crypto, Ethereum (ETH-USD) deserves the silver medal on today’s list. You’re likely familiar with ETH already, but let’s do a quick recap. Ethereum pioneered smart contracts and serves as the backbone for much of the Web 3.0 innovation happening across crypto. From DeFi apps to NFT marketplaces, most run atop the Ethereum blockchain.
This creates huge demand for ETH as users need it to pay gas fees. Ethereum has consistently outperformed Bitcoin during prior bull cycles. And with its recent shift to a proof-of-stake model turning it deflationary, I see no reason why that outperformance won’t continue this time around.
While high gas fees remain an issue, Ethereum’s first-mover advantage in smart contracts is tough to beat. Ethereum remains crypto’s innovation hub and the second-safest asset to hold long-term after Bitcoin in my view.
Solana (SOL-USD)
Solana (SOL-USD) has emerged as one of the most formidable challengers to Ethereum. This blockchain offers similar functionality to Ethereum but with much faster transaction speeds and lower fees. The tradeoff? Solana’s network isn’t nearly as battle-tested, suffering occasional outages and remaining somewhat centralized.
That said, the Solana team has made significant strides in improving reliability and decentralization. As trust grows, SOL has been stealing market share from Ethereum in areas like NFTs and DeFi. If Solana can eliminate outages permanently while boosting decentralization, it has massive upside remaining.
One key advantage for Solana is its low fees become even more attractive during bull markets. When Ethereum gas fees skyrocket to $100+ due to network congestion, many users look to sidestep those exorbitant costs by using Solana instead. Not everyone wants the hassle of navigating Ethereum’s layer-2 solutions.
Solana is still an enticing “Ethereum-killer” that could yield multi-bagger returns over a long holding period.
Render Token (RNDR-USD)
The metaverse, AR/VR, 3D modeling, video gaming – these immersive digital experiences are driving explosive demand for computer graphics and GPU compute resources. And Render Token (RNDR-USD) is perfectly positioned to capitalize on this burgeoning trend.
Render is a decentralized GPU rendering platform that taps into a global network of GPUs offered by everyday computer owners. In exchange for lending their GPU power, these providers earn RNDR tokens. It’s a brilliant way to monetize underutilized hardware while fueling cryptos.
Already, Render’s network rendered a staggering 3 million frames in Q4 2023 alone. As the metaverse and virtual worlds continue taking shape, this spare GPU capacity will become an invaluable commodity. RNDR looks primed to surge as network utilization skyrockets.
Bittensor (TAO-USD)
Few AI cryptos have generated more buzz than Bittensor (TAO-USD) lately. This decentralized, blockchain-based machine learning network allows AI models to collaboratively train and earn TAO tokens based on their contributions.
Bittensor has rocketed from under $50 to over $730 in just five months before cooling off around $480 currently. While the blistering rally has taken a breather, I see the current price as an incredible buying opportunity before TAO’s next major leg up.
Why am I so bullish? AI is undoubtedly one of the hottest sectors right now. Combining it with blockchain’s decentralized architecture creates a uniquely powerful paradigm. As more developers build on Bittensor and users tap its network, TAO’s upside seems very enticing long-term.
Nano (XNO-USD)
While Bitcoin and Ethereum dominate crypto discourse, scalability issues like slow transaction times and high fees remain barriers to mainstream adoption for consumer payments. Nano (XNO-USD) offers a compelling solution with its free, near-instant transfers.
Due to its pure peer-to-peer transactions, Nano blows away rivals like BTC and ETH in terms of speed and cost. It has a very energy-efficient network, Nano provides a seamless user experience ideally suited for everyday spending once crypto payments gain broader traction.
To be clear, Nano isn’t aiming to be a smart contract platform or “world computer” like Ethereum. It’s laser-focused on frictionless value transfer, filling an important niche as a payment-centric cryptocurrency. And it excels in that singular use case.
Of course, mainstream adoption is still required to unlock Nano’s full value. But with a current market cap under $167 million, it wouldn’t take much to send XNO exponentially higher from here.
Blue Kirby (KIRBY-USD)
Blue Kirby (KIRBY-USD) is easily the highest-risk, highest-reward crypto on today’s list. As a meme coin that suffered a “soft rug pull” by its original developers, KIRBY epitomizes the speculative frenzy of cryptos during bull markets.
However, this Fantom (FTM-USD)-based project has shown surprising resilience and signs of a potential revival. Its token distribution is now far more decentralized following the halving event, while holder counts are ticking higher. The community also remains engaged, with KIRBY trading sideways at rock-bottom prices.
Could a meme-fueled mania propel KIRBY to the stratosphere? It’s certainly possible, especially once the altcoin season kicks into high gear. With Fantom boasting over a $2.1 billion market cap, this niche project likely has more staying power than most memecoins.
If KIRBY were to somehow reach even a $100 million valuation from its current micro-cap levels, early investors would be looking at life-changing gains. Of course, the risks of a complete flameout are extremely high too. Definitely one of the best cryptos to buy if you’re looking to target life-changing gains.
On the date of publication, Omor Ibne Ehsan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
