In today's cryptocurrency space, finding the best cryptocurrencies to buy has become the focus of many investors. We will start with those large-cap cryptocurrencies that are expected to provide long-term reliable returns and conduct an in-depth review of the most worthwhile cryptocurrencies to invest in. At the same time, we will update this recommended list in a timely manner based on market trends, performance, and the changing utility and adoption.
1. Bitcoin (BTC) - Digital gold leads the trend
As the world's first cryptocurrency, Bitcoin has an unshakable position and huge influence. It is not only the cryptocurrency with the largest market value, but also the only cryptocurrency officially recognized by the governments of many major countries, including the United States, and is even used as legal tender in countries such as El Salvador.
In 2024, the first spot Bitcoin ETF officially began trading on the US stock exchange, which triggered a large influx of funds. In addition, major events such as the Federal Reserve's interest rate cuts also have a crucial impact on the price of Bitcoin.
Key Highlights:
Bitcoin price on October 9, 2024: $62,283.99.
The market value is as high as 1.23 trillion US dollars.
Price change over the past 24 hours: BTC -0.05%.
Prices increased by +1.11% last week.
Year-over-year return: +125.38%.
Bitcoin is included in our recommended list because it has many unique advantages. As a pioneer in the field of digital assets, Bitcoin's security and global recognition are unparalleled. However, investing in Bitcoin is not without risks. Its price fluctuates greatly and transaction confirmation time is relatively long, which are factors that investors need to consider.
2. Ethereum (ETH) - Pioneer of Smart Contracts
Ethereum is the world's second largest cryptocurrency by market capitalization and the most widely used blockchain network for decentralized application (dApp) development. In 2015, Ethereum first introduced smart contracts, ushering in a new era of blockchain applications.
In 2022, Ethereum successfully transitioned from a proof-of-work (PoW) validation mechanism to a proof-of-stake (PoS) validation mechanism, greatly improving its efficiency and sustainability. Earlier this year, the first spot Ethereum ETF was approved and began trading on July 23. Despite initial net outflows, this move is expected to drive Ethereum prices to new highs in the future.
Key Highlights:
Ethereum price on October 9, 2024: $2434.48.
The market value is US$293.06 billion.
Price change over the past 24 hours: ETH +0.29%.
All-time high price: $4867.17.
Prices fell -1.91% last week.
Year-over-year return: +52.80%.
Ethereum is on our list mainly because of its leading position in smart contracts and dApp development. The benefit of investing in Ethereum lies in its strong ecosystem and wide range of application scenarios, but it also faces fierce competitive pressure and uncertainty brought about by technological upgrades.
3. XRP (XRP) - a fast channel for cross-border transactions
XRP is the official cryptocurrency of the Ripple payment network, which aims to make international payments faster and cheaper. The XRP project just won a battle with the U.S. Securities and Exchange Commission. Today, XRP is the seventh-largest cryptocurrency by market capitalization.
Key Highlights:
XRP price on October 9, 2024: $0.53.
The market value is US$30.05 billion.
Price change over the past 24 hours: XRP +0.69%.
All-time high price: $3.92.
Prices fell by -11.46% last week.
Year-over-year return: +6.38%.
XRP is on our recommended list because of its great potential in the field of cross-border payments. However, investing in XRP also faces some risks, such as regulatory uncertainty and market competition pressure.
4. Solana (SOL) - A strong competitor to Ethereum
Solana is a fast and low-cost blockchain that aims to challenge Ethereum. During the crypto bull run recovery, Solana has become one of the most successful cryptocurrencies. In the past 12 months, it has increased its value by a staggering +543.31%. Currently, Solana is the fifth largest cryptocurrency by market cap and still has huge potential for growth.
Key Highlights:
Solana price on October 9, 2024: $143.06.
The market value is US$67.04 billion.
Price change over the past 24 hours: SOL -0.03%.
All-time high price: $259.52.
Prices fell by -3.08% last week.
Year-over-year return: +543.31%.
Solana made our list because of its technological advantages and strong development potential. However, investing in Solana also requires considering risks such as network stability and increased competition.
5. Binance Coin (BNB) — Binance Ecosystem’s Utility Token
BNB is the official cryptocurrency of Binance, the world's largest cryptocurrency exchange. It offers users discounts on trading fees and other benefits, such as early access to cryptocurrencies released by Binance. As the fourth-largest cryptocurrency by market capitalization, BNB has been performing strongly since the resignation of former CEO Changpeng Zhao.
Key Highlights:
BNB price on October 9, 2024: $582.15.
The market value is US$85.91 billion.
Price change in the past 24 hours: BNB +3.33%.
All-time high price: $718.88.
Prices increased by +4.99% last week.
Year-over-year return: +179.71%.
BNB made it to our list because of its close integration with the Binance ecosystem and its strong practicality. However, investing in BNB also faces exchange risks and market volatility.
6. Dogecoin (DOGE) - the originator of community-driven memecoin
Dogecoin is the original meme coin, launched in 2013. It did not become widely known until 2020-21, when it attracted the attention of many big names, including Tesla founder Elon Musk.
Since exploding during the last bull run, Dogecoin has inspired the emergence of thousands of copycat memecoins, including the very successful Shibacoin and Pepecoin.
Key Highlights:
Dogecoin price on October 9, 2024: $0.10.
The market value is US$15.94 billion.
Price change over the past 24 hours: DOGE +1.09%.
All-time high price: $0.73.
Prices increased by +0.74% last week.
Year-over-year return: +84.41%.
Dogecoin made our list because of its strong community support and high brand awareness. However, investing in Dogecoin also faces problems such as lack of practical applications and high price volatility.
7. Cardano (ADA) — A research-driven sustainable blockchain platform
Cardano is a third-generation blockchain platform known for its scientific development approach and strong focus on interoperability and sustainability. It uses a Proof of Stake (PoS) consensus mechanism that is more energy-efficient than the traditional Proof of Work (PoW) model used by older cryptocurrencies such as Bitcoin.
Key Highlights:
Cardano price on October 9, 2024: $0.34.
The market value is US$12.07 billion.
Price change in the last 24 hours: ADA -2.06%.
All-time high price: $3.10.
Prices fell -3.57% last week.
Year-over-year return: +36.99%.
Cardano is included in our recommendation list because of its advantages in technological innovation and long-term development planning. However, investing in Cardano also faces the uncertainty of market competition and technological realization.
Conclusion:
Each factor in our ranking methodology is carefully weighted to fully reflect its importance in predicting success and reliability. This ensures that the crypto assets that perform best across all metrics are able to stand out and take the top spot.
