Altcoin

The 5 best Altcoins to invest in in 2024 revealed

Published

8 months ago

11 June, 2024

DISCLAIMER: This article is a SPONSORED press release and does not constitute Finbold editorial content. Crypto assets/products carry significant risks. Do not invest unless you are willing to lose your entire investment. For a full disclaimer, please.

As the market ebbs and flows, numerous projects are being scrutinized for their potential to deliver significant gains and innovative solutions. BlockDAG shines brightly with a stellar pre-sale result of $48.8 million and a distribution of 11.4 billion coins.

The Moon-Keynote 2 event recently increased BlockDAG’s appeal, featuring major updates and the launch of the X1 mining app. This article highlights BlockDAG’s successes alongside other major cryptocurrencies such as Avalanche, Ethereum, Dogecoin, and Cardano, each competing to be among the best altcoins for investing in 2024.

1. BlockDAG’s attractiveness skyrockets with Moon-Keynote 2

BlockDAG’s milestones capture more attention every day, especially after Moon-Keynote update, which details its latest improvements and introduces the X1 mining app. From its mainnet debut to its expanding ecosystem, BlockDAG is making strides towards a decentralized future.

After raising $48.8 million and distributing 11.4 billion coins, BlockDAG is now on its 18th batch. The BDAG coin is currently priced at $0.0122, with an expected increase to $0.014 in the 19th batch.

The project also raised an additional $3.2 million for mining and sold over 7,600 mining units, marking significant progress in the cryptocurrency landscape and cementing its place as a top altcoin for 2024.

Further enhancing its portfolio is the X100, a robust mining machine boasting a hash rate of 2 TH/s and a power consumption of 1800W, capable of mining up to 2,000 BDAG per day. At launch, this equates to a daily earnings of $100, making it suitable for experienced miners and large-scale operations.

2. Avalanche (AVAX) witnesses falling prices amid major market swings

Avalanche’s price has seen a notable decline, continuing a downward trend over the past few days. Bollinger bands signal greater volatility in both short-term and long-term price movements.

As trading volumes increase and circulating supply expands, investors are evaluating its status as a flagship altcoin for 2024, given its dynamic ecosystem and rebound potential.

3. Ethereum Price Dynamics: Crucial Levels to Monitor

Ethereum recently broke out of the descending wedge formation, spurring a 21% increase. However, it now faces resistance from a previous bearish block, which tests its bullish trajectory. Investors should keep an eye on essential retracement levels that could dictate Ethereum’s next actions.

Could Ethereum maintain its position as the leading altcoin in 2024 amid these fluctuations? If conditions align, Ethereum could retest its past resistance. However, a close below vital support could undermine the bullish scenario, possibly leading to a 9% decline.

4. Dogecoin responds to small market adjustments

Dogecoin is weathering slight changes in market sentiment, with a modest decline of 0.67% over the past day. Stable for now, DOGE shows resilience amid market volatility.

It encounters resistance at a crucial level; passing it could allow him to get closer to a higher psychological score. On the other hand, holding support is essential to fend off any potential decline. Current indicators suggest a moderately optimistic outlook and a stable market.

5. Cardano price teeters on the verge of a sharp fall

Cardano’s value has collapsed from its peak in 2024, creating a bearish ascending triangle pattern that suggests a further 17% decline. The Relative Strength Index (RSI) remains below the midpoint, confirming this pessimistic forecast.

Cardano looks set to continue its decline, potentially stopping at specific support zones before reaching its expected lower target. Investors are wondering whether it will still rank as one of the best altcoins for 2024, given its current trend and market conditions.

Final thoughts

The cryptocurrency investment landscape is full of opportunities. BlockDAG, with its innovative X100 mining device capable of generating up to $100 per day, stands out as a great candidate. As BlockDAG advances, amassing over $48.8 million in pre-sales, it aims to eclipse competitors like Avalanche, Ethereum, Dogecoin, and Cardano. With cutting-edge technology and a strong market presence, BlockDAG is on track to become the leading altcoin to invest in for 2024.