The cryptocurrency market is abuzz with activity following the landmark introduction of Bitcoin spot ETFs earlier this year. These ETFs, which have driven Bitcoin’s massive price surge, have also sparked curiosity about what’s next for altcoins. If Bitcoin and Ethereum have already gone away with ETFs, then Solana, XRP, and Cardano are gaining attention as possible investment vehicles. Here’s why these may be the best altcoins to buy in 2024 onwards.
3 Best Altcoins to Buy
Solana: The Ethereum Challenger
Solana has been making waves in the crypto world. Having blazing speed, low cost of transaction, and a groundbreaking ecosystem, it is sometimes called a potential Ethereum killer. In 2023, Solana returned more than 900% and it keeps shining, climbing by more than 90% this year.
The momentum behind Solana extends beyond price gains. Among other countries, Brazil and some European nations have given regulatory approval to Solana ETFs, a clear sign of the growing excitement it has generated in the institutional investor community. If the U.S. Securities and Exchange Commission (SEC) approves a spot ETF for Solana in 2025, its valuation could skyrocket, making it one of the best altcoins to invest in for explosive growth.
Notably, prominent investors like Cathie Wood have expressed confidence in Solana’s potential. Strong and rapidly expanding ecosystem and a history of bouncing back, Solana is well-positioned to lead the altcoin charge.
XRP: Riding the Pro-Crypto Wave
Since late 2023, XRP has been climbing on the back of hopes for a crypto-friendly climate under the current US administration. The value of the token is up by as much as 145% already in 2019(so far) due to its association with a regulatory breakthrough.
The speculation about a spot ETF is one of the main drivers of XRP’s increase. Investment firms have put applications in, and XRP is already on the market (ETPs) with a life in Europe. Combined with easing regulatory hurdles, this positions XRP as one of the best altcoins to invest in for long-term growth.
Furthermore, XRP’s application in cross-border payments and its already robust network makes it more than an ETF narrative. If the SEC is allowed to drop its charges against Ripple in 2025, XRP may experience an even more dramatic surge.
Cardano: A Steady Contender
Although not as popular as Solana or XRP, Cardano has quietly created a solid base. Cardano is widely recognized as a long-term investment due to its emphasis on scalability, sustainability, and academic rigor.
Cardano’s price has risen 55% in 2017 and just passed the $1 level. Although it may not equal Bitcoin or Solana’s price rise, Cardano’s strong developer community and smart contract capacity give it a place in the market.
Interest in a spot ETF for Cardano is also soaring. Analysts hypothesize that if approved, Cardano may nearly triple in value, rising to its all-time high of $3. That is why it is a good alternative for investors looking for consistent, long-term, high-return altcoins to put money in.
Which Altcoin Should You Pick?
Looking at Solana, XRP, and Cardano, Solana seems to have the highest potential upside, right now. Its early adoption, regulatory push, and effective technology are its unique competitive advantages. Nevertheless, XRP and Cardano also make strong arguments especially if regulatory conditions are favorable to their continuation.
There is always a risk investing in altcoins, but the returns may be very high. Getting the next cryptocurrency to receive spot ETF approval, in fact, has the potential to deliver fabulous value. As before, deep research and a balanced strategy are the only way forward when opportunities such as these are possible.
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