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3 cryptocurrencies to buy now
The imminent Bitcoin (CRYPTO:BTC) halving is one of the most anticipated events of the year for cryptocurrency investors, and for good reason. Past halving cycles have led to stratospheric gains for Bitcoin, as well as new all-time highs. So, naturally, all eyes are on Bitcoin right now.
But after the halving another interesting phenomenon also occurs: the Top altcoins they tend to see a huge spike in market cap as they follow Bitcoin higher. And in fact, some of these coins actually outperformed Bitcoin in the 12 months following the halving.
With that in mind, here are three cryptocurrencies that have the potential to rise higher in 2024 and 2025.
1. Solana
While Solana (CRYPTO:SOL) has cooled considerably since its scorching 2023, when it increased in value by more than 900%, and continues to keep pace with Bitcoin in 2024. For the year, Bitcoin is up 66%, while Solana is up 67%.
A lot of this has to do with the fact that Solana he is now seen as “next”. Ethereum (CRYPTO: ETH).” As Ark Invest’s Cathie Wood pointed out last November, Solana is basically a cheaper, faster and more efficient version of Ethereum. Therefore, just as Ethereum was one of the best altcoins in the previous trading cycle halving of Bitcoin, Solana could be one of the best performing altcoins in the next Bitcoin halving.
Add in the fact that Solana has a solid mobile cryptocurrency strategy and this cryptocurrency really has a chance to differentiate itself in the next bull market cycle. Unlike its rivals, Solana now has a mobile phone optimized for cryptocurrencies. This is opening up all sorts of new opportunities, such as the ability to gain a much larger share of the crypto gaming market.
2. Shirt
Chain shirt (CRYPTO: LINK) could be a sleeper candidate to outperform Bitcoin in the next 12 months. Yes, Chainlink is only up 15% year to date, but you have to look ahead to what comes next to appreciate how much higher it could go in the next bull market cycle.
Chainlink is at the forefront of a long-term financial trend known as real-world asset tokenization. This refers to the process of converting real-world assets into digital assets that can live on the blockchain. You may not have heard of this trend yet, but many big names on Wall Street are now firmly behind it, including Black rock (NYSE: BLK), the world’s largest asset manager. According to the Boston Consulting Group, asset tokenization could represent a $16 trillion market opportunity by 2030.
If Chainlink can capture even a small portion of this market opportunity, it could be huge for its future growth prospects. And there are many reasons to think it might.
The story continues
First and foremost, Chainlink is already the most trusted data oracle in the cryptocurrency world, providing real data for pricing financial assets. Secondly, Chainlink is working on a new blockchain protocol (known as CCIP, or Cross-Chain Interoperability Protocol) to connect blockchains. This would make it much easier to transfer tokenized financial assets across blockchains seamlessly.
3. SingularityNET
Finally, save space in your wallet for high upside AI crypto. As Ark Invest’s Cathie Wood pointed out in her 2024 “Big Ideas” report, there are many opportunities opening up at the intersection of AI and cryptocurrencies. Given all the excitement surrounding AI right now, it can be hard to get past the hype, but one AI crypto that has me intrigued is SingularityNET (ENCRYPTION: AGIX).
Image source: Getty Images.
Unlike ChatGPT, which focuses on generative AI, SingularityNET focuses on artificial general intelligence (AGI). This is a much bigger market opportunity and one that could be a complete game changer for humanity.
I’m not exaggerating here. The token’s name refers to the “technological singularity” – the moment when a single computer becomes smarter than all of humanity combined. (Don’t worry: SingularityNET is working on a benevolent form of AGI that won’t enslave humanity.)
While investing in any AI cryptocurrency carries a huge risk factor, there are two factors that appear to make SingularityNET at least slightly less risky. First and foremost, the team behind SingularityNET, led by AI researcher Ben Goertzel, is world-class. And, secondly, the current price of a SingularityNET token is only $1. It seems to be a very low price to enter the exciting world of super-intelligent artificial intelligence.
Not all altcoins are the same
Keep in mind that whenever you start dabbling in the world of altcoins, your risk exposure will increase significantly. So be careful about expanding your exposure well beyond Bitcoin. With Bitcoin there is at least a proven track record of success after the halving. Things get much more complicated when it comes to cryptocurrencies in emerging areas, such as asset tokenization and artificial intelligence.
That said, if you’re looking to diversify your cryptocurrency portfolio with some big winners in the post-halving cycle, three names at the top of my list are Solana, Chainlink, and SingularityNET.
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Domenico Basulto has positions in Bitcoin and Ethereum. The Motley Fool has positions and recommends Bitcoin, Chainlink, Ethereum and Solana. The Motley Fool has a disclosure policy.
Bitcoin halves early: 3 cryptocurrencies to buy now was originally published by The Motley Fool