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- 1 Crypto enthusiasts and analysts expect 2024 to be a great year for overall crypto markets.
- 2 Some of the selected cryptocurrencies that have good growth potential for the year include XRP, ALGT, TIA, APT and FIL.
- 3 Analysts have defined an expected price range and return percentage for the year.
Every new year brings a new set of opportunities in the financial sector among different asset classes. Crypto is one of the thriving segments with excellent growth opportunities.
Expert analysts have mentioned a few cryptocurrencies with significant growth potential in 2024, looking at their growth and development in 2023.
The list primarily includes XRP, Algotech (ALGT), Celestia (TIA), Aptos (APT), and Filecoin (FIL). This article will dive deep into all these cryptocurrencies, discussing their past and upcoming growth potential as well as the background of these projects.
XRP
It is one of the pioneers in the crypto market. It was created to be the most practical cryptocurrency for applications across the financial services space. The XRP ledger was launched in 2021 based on an open-source, permissionless and decentralized technology. It aims to provide transactions at low cost with high transaction speed, scalability and green attributes.
According to the analysts’ expectations for 2024, XRP is expected to trade in the price range of $0.448 and $0.697. The average price for 2024 is close to $0.572. The potential return on investment for 2024 is close to 10.5%.
Algotech
It is a decentralized algorithmic crypto trading platform to revolutionize investment and trading with innovative technologies and automation. It aims to build cutting-edge technology integrated with intelligent trading strategies. It will empower traders to outpace the world of finance.
The creators of ALGT include a team of experienced professionals with a thorough understanding of algorithmic trading and a passion for innovation. They combined technology, data analysis, and industry expertise to develop sustainable trading solutions to deliver excellent results.
It has raised more than $1 million in the first two days of its presale. Around 55 million ALGT tokens are already sold out.
Analysts are expecting it to increase by 275% from the current price of $0.04 to $0.15 by the time of launch.
Celestia
It is the first modular blockchain network that allows anyone to deploy their blockchain with minimal overhead costs. It scales up by rethinking blockchain architecture from scratch. It aims to unlock new and unrealized opportunities for builders and developers.
It does not implement any execution or settlement constraints; developers are free to define their execution and settlement environments.
Analysts expect TIA to trade in the range of $14.60 and $21.60 in 2024. Users or investors in Celestia can expect a maximum annual return of up to 40%.
Aptos
It is a Layer-1 PoS blockchain that implements a smart contract programming language called Move. Meta has designed a Rust-based programming language, Move, that was specifically developed for its diem blockchain engineers.
It aims to be a blockchain that brings mainstream adoption to Web 3 while also enhancing the ecosystem of dApps to solve real-world problems.
APT is expected to trade in the range of $7.41 and $14.71, looking at the current price trend and users’ and community expectations. It is expected to offer a return of 69.0% by the end of 2024.
Filecoin
It is a decentralized storage system. It aims to store the most important information about humanity. It is open-source and decentralized, stating that complete governance is in the hands of the community.
Developers on the platform are provided with the opportunity to create cloud file storage services like Dropbox or iCloud. Any user can join the platform and start storing their data or generate income by providing space for someone else.
It is commonly stated that Filecoin solves the problem of inefficient file storage and retrieval. Customers or users can find the correct solutions with an efficient set of tools and core developments.
As per the technical analysis of Filecoin for the period 2024, it is expected to trade in the range of $2.8 and $6.03. The average price for the period is close to $4.44. The maximum potential return in 2024 is approximately 20%.
Conclusion
Cryptocurrency is a digital asset that is based on decentralized blockchain technology and it can circulate without the involvement of a centralized authority, for instance, a bank or government. It is one of the riskier asset classes so investors are advised to consider their risk appetite and bearing capacity before investing in cryptocurrencies.
Currently, there are more than 24,630 crypto projects out there in the cryptocurrency market. The crypto market size is expected to reach $4.94 billion by 2030.
FAQs
What are the other cryptocurrencies that are expected to grow in 2024?
The other cryptocurrencies that are expected to grow this year include BTC, ETH, USDT, DOGE and others.
What are the risk factors that need to be considered in the crypto space?
The most prevalent risk in the crypto space pertains to security and scams.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
