5 rising new cryptocurrencies to add to your watchlist for 2024

Cryptocurrency enthusiasts are always seeking the next big thing in terms of tokens and coins in the crypto world. prices of cryptocurrencies have come back significantly this year. The majority of crypto coins were recovering from large losses through 2023, and as the year ends, they are currently trading at a loss. With the crypto market constantly growing, many investors and enthusiasts are looking for cryptocurrencies to invest in in 2024. The following is a list of the top cryptocurrencies to invest in 2024.

Cardano (ADA)

As of right now, Cardano, with a market capitalization of $15.54 billion, operates as a proof-of-stake (PoS) platform primarily utilized for creating decentralized applications (dApps) based on smart contracts. Investors can acquire the ADA token, developed by the team to support the project’s ecosystem, at $0.3815 on cryptocurrency exchanges. Users can earn cryptocurrency by staking ADA. When ADA’s value is examined over the last few months, it shows an increasing trend: it was $0.25 in September, $0.26 in October, $0.36 in November, and $0.44 in December.

Analysts have projected more increases based on this development pattern, indicating that Cardano may cross the $0.90 milestone in the upcoming six months. The growing number of dApps on ADA and the total value locked which rose from $50 million to $250 million the year before are credited with the positive prognosis.

Solana (SOL) 

 The Solana project, which currently has a market valuation of $26.63 billion, aims to make decentralized financial (DeFi) solutions easier to implement. as well as to create decentralized apps (dApps) and smart contracts. It gives developers the ability to create fast networks without compromising security. In the ecosystem, the SOL token is essential since it facilitates transactions, fee payments, and staking incentives. Upon examining SOL’s performance in the past several months, it is obvious that the value increased significantly: from $19.62 in September to $23.42 in October, $42.14 in November, and a peak of $63.12 in December. Given its impressive expansion, Solana may become one of the best investment opportunities by 2024.

Avalanche (AVAX) 

Avalanche (AVAX) simply accomplished a significant milestone by reaching a record high for network transactions. This achievement shows the blockchain’s popularity in the sector and is a strong indication of its expanding adoption and utilization. At the moment, Avalanche (AVAX) trades between $13.29 and $27.07. There is a $21.43 10-day moving average and a $12.63 100-day moving average. $ 5.20 is the designated support level, while $32.75 and $46.53 are the designated resistance levels. 

Avalanche (AVAX) has demonstrated significant potential for development, driven by its recent network transaction record and expanding ecosystem through collaborations with major financial organizations like JP Morgan and Citi for real-world asset tokenization. Additionally, its market position has strengthened due to the growing demand for ASC-20 minting activities and increased bridge inflows.

Cdao 

cDAO now reflects a neutral market attitude, as shown by a price drop below a horizontal resistance level. When readings are above 50 with an upward trend, technical indicators such as the Relative Strength Index (RSI) suggest an emphasis on bullish conditions. Moving averages reveal a neutral trend in the weekly timescale, with the 50-day Moving Average crossing below the 200-day Moving Average. cDAO is trending in the 1-week timeframe, according to the Moving Average Convergence Divergence (MACD) study. Investors must take into account the volatile nature of cryptocurrency markets, as well as the potential impact of external events on future price changes.

ASX

 While AssetX ($ASX)’s goals and actions appear good, forecasting the exact rise of a given cryptocurrency, including $ASX, in the coming year is intrinsically difficult. A variety of factors drive cryptocurrency markets, including market sentiment, legislative developments, technology improvements, and larger economic situations.

Investors should proceed with caution and perform extensive study when considering cryptocurrency investing. Understanding the specific features and hazards linked with $ASX, as well as the broader cryptocurrency market, is critical. There are potential gains, as with any investment, but there are also significant risks, given the volatile nature of the crypto industry.