The search for high-growth cryptos is on, with the crypto market rally continuing into 2024. Various top tokens continue to see outsized attention in this market. But many investors remain focused on identifying lucrative opportunities under the surface. You know, those high-growth cryptos that may be flying under the radar.
For investors who don’t recoginize most tokens outside of Bitcoin (BTC-USD) or Ethereum (ETH-USD), that’s okay. These three cryptos are among the fastest-growing projects out there with some of the biggest upside (in my view).
Here’s why I think long-term investors may want to consider these tokens right now.
Aptos (APT-USD)
Aptos (APT-USD) Labs, creator of the Aptos blockchain ecosystem, recently partnered with io.net to decentralize AI access amid rising venture capital interest. Together, these two firms will develop AI models and products on the Aptos network, streamlining payments and hopefully creating a moat around their core operating models. Notably, io.net’s BC8.ai already processes over 500,000 daily transactions on Aptos.
Aptos is well-aligned with rising investor interest in the fusion of blockchain technology and that of artificial intelligence. Investors are all over this trend, with A16z’s December 2023 paper highlighting blockchain’s potential to balance centralized AI. The combination of both technologies could foster a global, permissionless and truly innovative marketplace. Venture funding in the AI space has surged, with $4.7 billion invested in February, up from $2.2 billion in January and $2.1 billion in February 2023.
Bittensor (TAO-USD)
BitTensor’s (TAO-USD) price recently surged to over $770 before retracing to approximately $625 per token, marking a 12% gain in 24 hours following its Binance listing. Despite the pullback, TAO is still up nicely off of its October lows. And like Aptos, there are AI tailwinds driving this token’s rise, given its promising future potential.
Another key factor investors are clearly pricing in right now is Binance’s decision to list the Bittensor token. This listing certainly makes sense, as Bittensor revolutionizes AI platform development by decentralizing the process and fostering collaboration and innovation in machine intelligence. The crypto community is highly anticipating the listing’s impact on TAO’s price dynamics.
Users can deposit TAO for trading, with withdrawals starting April 12. Binance’s decision to waive TAO’s listing fee aims to boost liquidity and fuel investor optimism, potentially impacting TAO’s upside potential moving forward.
Solana (SOL-USD)
Solana (SOL-USD) is the fifth-largest crypto ranked by market cap. Accordingly, many investors may not think much upside is possible owning this crypto at its current valuation.
Nothing could be further from the truth. Impressively, Solana saw its volumes surge in Q1 with a 319% increase in daily spot DEX volume to $1.5 billion. Much of this volume increase was driven by meme coin trades. However, Solana’s overall ecosystem witnessed heightened activity, as new projects attracted developers, and investors continued to flood into various Solana-based meme coins.
With the DeFi sector projected to reach $26 billion in 2024, Solana stands to benefit significantly in the race for Web 3.0 market share. Upcoming developments like Firedancer and Runtime v2 aim to enhance scalability, potentially achieving speeds of over a million transactions per second. Analysts think these catalysts can drive SOL prices to $260-$600 long term.
Investors favor Solana for its faster transaction speeds and lower fees than Ethereum. Recent data supports Solana’s potential, boasting transaction speeds of up to 1 million per second, outperforming Ethereum’s current rates. I’m of the view that Solana’s ongoing superiority suggests it could take a shot at truly challenging Ethereum for market share over the long-term. You cannot go wrong with any of the high-growth cryptos on this list.
On the date of publication, Chris MacDonald did not have (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.
