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3 cryptocurrencies to buy now
The next Bitcoin (CRYPTO:BTC) halving is one of the most anticipated events of the year for crypto 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 another interesting phenomenon also occurs after the halving: Top altcoins tend to see a huge increase in market cap as they follow Bitcoin higher. And in fact, some of these coins outperformed Bitcoin in the 12 months following the halving.
With that in mind, here are three cryptocurrencies that have the potential to skyrocket in 2024 and 2025.
1. Solana
While Solana (CRYPTO:SOL) has cooled considerably since its torrid 2023, where its value increased by over 900%, it is still keeping pace with Bitcoin in 2024. For the year, Bitcoin is up 66%, while Solana is up 67%. %.
This is largely due to the fact that Solana is now considered “the next Ethereum (CRYPTO: ETH).” As Ark Invest’s Cathie Wood pointed out last November, Solana is basically a cheaper, faster, more efficient version of Ethereum. So, just like Ethereum was one of the most altcoin performer during the previous Bitcoin halving cycle, Solana could be one of the best altcoins during the next Bitcoin halving.
Add to that the fact that Solana has a robust mobile crypto strategy, and this crypto really has a chance to differentiate itself in the next bull market cycle. Unlike its competitors, Solana now has a crypto-optimized mobile phone. This opens up all kinds of new opportunities, such as the possibility of acquiring a much larger share of the crypto gaming market.
2. Chain link
Chain link (CRYPTO:LINK) could be a sleeper candidate to outperform Bitcoin over the next 12 months. Yes, Chainlink is only up 15% year to date, but you need to anticipate what comes next to appreciate how much higher it could skyrocket during the next bull market cycle.
Chainlink is at the forefront of a long-term financial trend known as the tokenization of real-world assets. It is 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 strongly 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 manages to capture a tiny portion of this market opportunity, it could be huge for its future growth prospects. And there are many reasons to think it’s possible.
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On the one hand, Chainlink is already the most trusted data oracle in the crypto world, providing real-world data for pricing financial assets. Second, Chainlink is working on a new blockchain protocol (known as CCIP, or Cross-Chain Interoperability Protocol) to connect blockchains. This would greatly facilitate the seamless transfer of tokenized financial assets between blockchains.
3. SingularityNET
Finally, save room in your portfolio for an AI crypto with high upside potential. As Ark Invest’s Cathie Wood highlighted in her 2024 “Big Ideas” report, there are many opportunities at the intersection of artificial intelligence and crypto. Given all the excitement surrounding AI right now, it may be difficult to put an end to the hype, but one crypto-AI that intrigues me is SingularityNET (CRYPTO: AGIX).
Image source: Getty Images.
Unlike ChatGPT, which focuses on generative AI, SingularityNET focuses on artificial general intelligence (AGI). This is a much larger 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 crypto carries a huge risk factor, two factors appear to make SingularityNET at least slightly less risky. On the one hand, the team behind SingularityNET, led by AI researcher Ben Goertzel, is world-class. And second, the current price of a SingularityNET token is only $1. This seems like a very cheap price of entry into the exciting world of super-intelligent AI.
Not All Altcoins Are Created Equal
Just keep in mind that any time you start dabbling in the world of altcoins, your risk exposure is going to increase significantly. So be careful when expanding your exposure well beyond Bitcoin. With Bitcoin, there is at least a history of post-halving success. Things get a lot more difficult when it comes to cryptos in emerging areas, such as asset tokenization and artificial intelligence.
That being said, if you’re looking to diversify your cryptocurrency portfolio with some big winners from the post-halving cycle, three names at the top of my list are Solana, Chainlink, and SingularityNET.
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Dominique Basulto has positions in Bitcoin and Ethereum. The Motley Fool posts and recommends Bitcoin, Chainlink, Ethereum, and Solana. The Mad Motley has a disclosure policy.
Bitcoin halved: 3 cryptocurrencies to buy now was originally published by The Motley Fool