In this blog we are going to discuss about the top most popular and the best altcoins in which we can invest in this month.
First we will discuss about the altcoins because it is important to know about them before taking a start.
Altcoins
Altcoins which are stands for “alternative coins,” are any cryptocurrencies other than Bitcoin which is original. They were created to improve upon or provide alternatives to Bitcoin’s functionalities and use cases. Altcoins can offer a range of features such as faster transaction times and lower fees to advanced privacy and smart contract capabilities.
There are thousands of altcoins but some of the most notable ones include:
Ethereum (ETH): Known for its smart contract functionality, which allows developers to build decentralized applications (dApps) and execute complex contracts without intermediaries.
Binance Coin (BNB): Originally created as a utility token for the Binance cryptocurrency exchange, BNB is now used in various ways, including transaction fees on Binance Chain.
Cardano (ADA): Focuses on providing a more secure and scalable blockchain platform through a research-driven approach and peer-reviewed protocols.
Solana (SOL): Designed for high-performance and scalability, aiming to support high-speed transactions and a wide range of dApps.
Polkadot (DOT): Aims to enable different blockchains to interoperate and share information in a secure and scalable manner.
Ripple (XRP): Known for its focus on facilitating fast and low-cost international payments, targeting the banking and financial services sector.
Chainlink (LINK): Provides decentralized oracles that allow smart contracts to securely interact with real-world data and external APIs.
Litecoin (LTC): Created as a “lighter” version of Bitcoin, with faster block generation times and a different hashing algorithm.
Each altcoin has its own unique features and use cases, so the “best” one can depend on what you’re looking for whether its transaction speed, privacy, smart contract capabilities, or something else.
Now its time to discuss about the best to invest which gives you good returns. But predicting the best altcoins to invest in can be challenging due to the highly volatile nature of the cryptocurrency market. However, as of September 2024, several altcoins are widely recognized for their potential and have garnered significant attention from the crypto community and investors. Here are some that might be worth considering, based on current trends, technological advancements and market positions:
Ethereum (ETH): Continues to be a strong contender due to its dominance in the smart contract space and ongoing upgrades aimed at improving scalability and efficiency.
Market cap: $316 billion
1-year return: 77%
Cardano (ADA): Known for its strong academic and research-driven approach, Cardano continues to evolve with new developments and partnerships that could enhance its ecosystem.
Market cap: $19.1 billion
1-year return: 52%
Polkadot (DOT): Focused on enabling interoperability between different blockchains, Polkadot remains a key player in the multi-chain ecosystem.
Market cap: $9.7 billion
1-year return: 21%
Solana (SOL): Recognized for its high-speed transactions and low fees, Solana is actively expanding its ecosystem and maintaining its status as a top performer.
Market cap: $68.5 billion
1-year return: 454%
BNB (BNB)
BNB is a cryptocurrency created and issued by crypto exchange Binance as a utility token built on the ethereum network, but BNB has since transitioned to Binance’s own blockchain. BNB can be used for a wide range of transactions and other use cases, including to access discounted trading fees on the Binance exchange.
Market cap: $49.9 billion
1-year return: 12%
Avalanche (AVAX): Known for its high performance and scalability, Avalanche has been gaining traction as a competitor to Ethereum and other smart contract platforms. Market cap: $12.3 billion     Â
Tron (TRX): Tron network has more than 177 million accounts and hosts the largest circulating supply of stablecoins. The tron network uses a delegated proof-of-stake verification system and its native cryptocurrency is TRX.
Market cap: $11.1 billion
1-year return: 94%
Polygon (MATIC): Provides a layer-2 scaling solution for Ethereum, helping to reduce transaction costs and increase throughput. Its continued growth and adoption make it a strong candidate for investment.
Market cap: $7.9 billion
1-year return: -26%
XRP (XRP):Â Ripple is a global payments network designed to be an alternative to the Society for Worldwide Interbank Financial Telecommunicationsor SWIFT. Ripple claims its technology is faster, cheaper and more transparent than the SWIFT system.
Market cap: $28.7 billion
1-year return: 41%
Tezos (XTZ): Offers a self-amending blockchain that can upgrade itself without hard forks, aiming to enhance security and adaptability over time.
Algorand (ALGO): Known for its speed and efficiency, Algorand is focused on creating a decentralized and scalable blockchain ecosystem.
Above are some of the coins for investind but Before investing, it’s crucial to conduct your own research and consider factors such as the technology behind each project, the team, market trends and your personal investment goals. Diversifying your investments and staying informed about market developments can also help manage risks.