Three cryptocurrencies poised to transform 100 into 1000 by the end of 2024
The crypto market has recently been a source of frustration and despair for investors who are accustomed to the rapid value growth of cryptocurrencies during bull cycles. Even major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) have experienced stagnant periods and significant price drops. The popular meme coin ‘fiesta’ is also said to be nearing its end.
Despite these trends and some beliefs that the crypto bull market is over, there are still many who believe that the current downturn is just a quiet period in a larger cycle that will soon reignite and push digital assets to new highs.
However, amidst the uncertainty, there are still coins and tokens that hold potential for significant growth before the end of 2024.
Solana (SOL) is currently in a precarious position. Being a popular blockchain for new projects, the Solana network has faced criticism and potential legal issues. Recent rumors of a ‘huge case’ have added to this uncertainty. Additionally, the SOL ecosystem faced scrutiny after a significant drop in stablecoin daily volume, leading to suspicions of wash trading. Despite these challenges, SOL has shown the ability to surge on positive news, such as VanEck’s plans to establish a trust for the token. With the potential for an exchange-traded fund (ETF) approval, SOL could reach unprecedented highs before the end of 2024.
XRP (XRP) has long been expected to surge in value. The major cryptocurrency’s price has been depressed due to the ongoing legal battle between Ripple and the SEC. If the regulator loses in the next round of court battles, XRP has the potential for a significant surge, as seen after the aftermath of the first case. Recent developments, including the U.S. Supreme Court’s ruling against the SEC’s use of in-house rules, have weakened the regulator’s authority. Ripple’s occasional wins and Coinbase’s lawsuit against the SEC have also added pressure on the Commission.
The upcoming presidential elections in 2024 have generated significant attention in the crypto market, leading to the creation of meme coins and NFT collections centered around the two main candidates, Joe Biden and Donald Trump. While any candidate-themed cryptocurrency could see a surge if their associated politician wins, the MAGA tokens have appeared more likely to succeed than the Biden ones. Reports of the Democratic party considering replacing Biden on the November ballot after his performance in a debate have further solidified this notion. Among the Trump cryptocurrencies, the MAGA (TRUMP) meme coin is expected to have the biggest reaction in the event of victory. With a market capitalization of nearly $350 million, it has already shown strong reactions to candidate-related news.
It’s important to note that this content should not be considered investment advice, as investing is speculative and carries risks to your capital.
