Cryptos to Watch in the Second Half of 2024

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As a seasoned crypto investor with several years of experience under my belt, I’m keeping a close eye on the second half of 2024 for potential gains in the market. The first half of the year brought both challenges and successes, but the discussion of a possible bull run is definitely on the horizon. Three digital assets that have caught my attention are Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).

Despite facing obstacles and triumphs in the crypto currency market during the first half of this year, there have been ongoing conversations about an upcoming bull run. Several digital assets are poised to draw significant attention due to their recent innovations, market trends, and distinctive offerings. In this piece, we delve into the cryptocurrencies worth monitoring in the second half of 2024, focusing on their potential advantages and unique characteristics. Bitcoin, Ethereum, and Solana are among the top contenders for investors aiming to capitalize on the remaining months.

1. Bitcoin (BTC)

Market Performance:

Bitcoin serves as the pioneer and most prominent cryptocurrency. Notably, the fourth Bitcoin halving transpired in April 2024, resulting in a reduction of rewards for miners. In keeping with past trends, the limited supply of Bitcoin following this event is projected to boost its price due to heightened demand.

In the previous half-year, Bitcoin’s price experienced a substantial increase of 45%. Within the last year, this cryptocurrency saw an astounding surge, reaching a gain of 103%.

Fundamentals:

The introduction of Bitcoin spot ETFs in major markets signifies a crucial turning point, making it easier for conventional investors to invest in Bitcoin. The possible rollout of Bitcoin ETFs in additional nations could attract substantial institutional investment.

Why Watch:

In the second half of 2024, the reduction in the supply of Bitcoin following a halving event and the rise in institutional investment through ETFs could potentially cause an increase in Bitcoin’s price. However, it is important to note that regulatory developments and broader economic trends will continue to shape Bitcoin’s market dynamics.

2. Ethereum (ETH)

Market Performance:

Over the last six months and one year, Ethereum’s price has mirrored Bitcoin’s upward trend, experiencing a growth of 49% and 88% respectively.

Fundamentals:

As a researcher exploring the dynamic landscape of blockchain technology, I can’t help but acknowledge Ethereum’s unrivaled status in the domains of Decentralized Finance (DeFi) and Non-Fungible Tokens (NFTs). The Ethereum blockchain hosts an impressive array of DeFi protocols and NFT marketplaces, showcasing its remarkable agility in adapting to evolving market conditions.

As a researcher studying the Ethereum blockchain, I’ve observed that various industries continue to inspire innovation and attract substantial investments. This dynamic process not only strengthens Ethereum’s ecosystem but also expands its functional capabilities.

Additionally, the latest Ethereum update known as Denver has significantly improved its scalability, security, and sustainability. These advancements make Ethereum more attractive to both developers and businesses.

As a researcher studying the cryptocurrency market, I’m excited about the upcoming launch of Ethereum Exchange-Traded Funds (ETFs). I believe this development will attract more institutional investors, potentially resulting in increased demand and subsequent price growth for Ethereum.

Why Watch:

As a researcher studying the financial markets, I believe that the introduction of Ethereum Exchange-Traded Funds (ETFs) could significantly transform the landscape by offering more convenient access to Ethereum (ETH) for traditional investors. This development, combined with the potential benefits of the Ethereum upgrades known as EIP-1559 and EIP-1529, positions Ethereum favorably for potential growth in the latter part of the year.

Monitor regulatory updates and track the performance of these ETFs post-launch.

3. Solana (SOL)

Market Performance:

SOL has demonstrated impressive performance to a point of emerging the winner of The Crypto Of The Year Award. Solana has gained the market interest for its commitment to ensuring fast transactions at minimal fees. The network has been strengthened by the recent increase in NFT projects, meme coins and DeFi projects, emerging as one of the cryptos to watch.

Over the past six months, Solana’s price has outpaced both Bitcoin and Ethereum with a remarkable 41% growth. Impressively, within the last year, its value has soared by a staggering 800%.

Fundamentals:

As a crypto investor, I’d put it this way: “I find Solana to be an attractive investment due to its advanced architecture that enables scalability and a robust consensus mechanism. Its ability to handle a high volume of transactions smoothly has contributed significantly to its growing popularity within the developer community.”

Why Watch:

As a researcher, I find the imminent introduction of Solana Exchange-Traded Funds (ETFs) an intriguing development. Similar to Ethereum, these new ETFs carry the allure of capturing the attention of institutional investors and ushering in a wave of fresh capital.

Monitor regulatory developments closely and observe the market reactions when new ETFs are introduced during the last quarter of 2024.

The surge of meme coins on Solana in the second half of 2024 underscores its adaptability and expanding influence within the cryptocurrency sector. This trend could lead to heightened involvement and interest from both developers and investors towards Solana’s ecosystem.

Conclusion

Bitcoin, Ethereum, and Solana each offer unique benefits and have undergone significant developments that position them for potential growth toward the end of 2024. Bitcoin’s upcoming halving event and the launch of ETFs, Ethereum’s improvements in scalability and anticipated ETF approvals, and Solana’s emergence as a hub for meme coins highlight their individual influences on the evolving crypto landscape. It is essential for investors to keep abreast of regulatory shifts, market tendencies, and technological innovations to capitalize on these promising cryptocurrencies.

 

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2024-06-28 18:53