The cryptocurrency market is spotlighting Layer 1 blockchain Ethereum (ETH), Solana (SOL), and Cardano (ADA) as prominent contenders. Despite recent bearish trends, these platforms are expected to grow significantly as Bitcoin hovers around $65,500. Investors increasingly focus on Layer 1 crypto to buy solutions due to their scalability and efficiency.
As the market anticipates a bullish 2024, these cryptocurrencies stand out for their unique features and robust performance. They offer substantial returns and maintain strong demand, differentiating them from Bitcoin and each other. With Bitcoin eyeing $150,000, these altcoins will likely rally alongside it.
1. Crypto To Buy – Ethereum (ETH)
Ethereum (ETH), a leading Proof-of-Stake blockchain, is renowned for its significant advancements in distributed computing through its pioneering smart contract capabilities. Unlike Bitcoin or Solana, Ethereum is a comprehensive computing platform rather than just a payment system.
Ether, Ethereum’s native token, plays a crucial role in the network’s functioning by powering transactions and compensating nodes for processing computations, reinforcing the platform’s focus on utility.
The rising trend aligns with the growing prominence of decentralized finance (DeFi) protocols on the Ethereum network, drawing substantial investments. The total value locked (TVL) in these DeFi protocols has reached new heights, signifying a flourishing ecosystem.
This increase in Ethereum’s valuation and the thriving DeFi sector underscores the platform’s vibrant and forward-thinking nature, cementing its pivotal position in the digital currency sphere.
Ethereum price is trading at $3,444, with a 24-hour volume of $20.7 billion. Despite a 3.39% decline over the past day, Ethereum maintains a strong market cap of $421 million.
Second on CoinMarketCap, Ethereum has experienced a 10% increase over the month and a 98% rise year-over-year. These statistics position Ethereum as one of the top three cryptocurrencies to purchase before the 2024 bull market.
2. Solana (SOL)
Solana (SOL), a premier blockchain platform, is making headlines for its rapid processing capabilities and efficiency in handling transactions. This Layer 1 technology has captivated a large following, which is evident from its burgeoning ecosystem and the influx of developers creating decentralized applications on it. Its prowess in innovation has significantly bolstered investor trust.
Despite a recent downtrend, Solana has maintained a price of around $130, currently trading at $135, which indicates a decline of 7% in the past day. However, it has impressively managed to hold strong above the $130 level, suggesting potential for an upcoming rally. Over the past week, Solana price has been trading down with its price decreasing by more than 12% after a market correction
Having climbed from a mere $20 over the last year, Solana’s value has soared by 779%, positioning it as one of the top three cryptocurrencies to consider purchasing ahead of the anticipated 2024 bull market.
3. Cardano (ADA)
Cardano (ADA) is a pioneering third-generation blockchain platform with a proof-of-stake (PoS) system. This modern method is more energy-efficient than the older proof-of-work (PoW) systems. Over the past year, Cardano’s price surged by 41%, indicating robust gains.
According to DeFi Llama, its Total Value Locked (TVL) has increased, attracting more investor attention. This growth positions it as one of the top three cryptocurrencies to invest in before the anticipated 2024 bull market. However, recently, the ADA market has experienced notable market corrections, with bearish trends impacting its price. Despite these fluctuations, many analysts remain optimistic about its long-term potential due to Cardano’s continuous development.
Cardano price currently stands at $0.3781, ranking it the tenth largest cryptocurrency. Its competitive stance is strengthening, especially against rivals like Solana, with optimistic forecasts for its future.
Bottom Line
As Bitcoin aims for new highs, Ethereum, Solana, and Cardano emerge as crypto to buy expected to experience significant growth, driven by their unique capabilities and strong market positions. Investors increasingly turn to these platforms for their scalability, efficiency, and potential returns. As the crypto market prepares for a bullish phase in 2024, these Layer 1 blockchains are set to play a pivotal role in the evolving financial landscape.
The post Top 3 Crypto To Buy For 200X Winning Portfolios By December appeared first on CoinGape.
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