The cryptocurrency scene has really taken off lately. It’s set to keep growing into 2024. This is mainly because more of our lives are moving online. So, lots of people and big groups are getting into cryptocurrencies. We’ve put together a list of the top companies to keep an eye on in 2024.
Key Takeaways:
The cryptocurrency market is set to hit $3 trillion by 20241.
Bitcoin, known as BTC, is still the biggest with a value of $1.3 trillion. It has grown by 160% year-on-year2.
Ethereum, the second biggest, is worth $424.8 billion. Its growth in a year is 103%2.
Tether, a stablecoin, holds steady at $112.4 billion in value with 0% growth2.
Binance Coin has a value of $89.9 billion and grew by 164% in a year2.
Solana’s growth is incredible, with a value of $70.8 billion and 906% growth2.
The US SEC has given the green light to Bitcoin ETFs, making it easier to invest3.
In 2023, more NFTs were sold on Solana than Ethereum, for a total of $366.5 million3.
It’s key to do your homework, spread your investments, and handle risks carefully in the volatile crypto market3.
There are over 20,000 cryptocurrencies out there. Keep an eye on how popular and wanted they are for growth hints1.
Bitcoin (BTC)
Bitcoin, known as BTC, is the most famous digital currency. It came to life in 2009 and changed finance. It’s worth a huge $1.3 trillion in the market4.
Bitcoin stands out with its high returns every year. It has grown by 160% yearly, catching the eye of those looking to make money4. Investors are keen on joining the crypto market for this reason.
Investing in Bitcoin has become popular because of its valuable growth. People see it as a way to protect their money and step away from the usual financial setup. Its being scarce and not controlled by a single entity makes it very attractive for investors looking to add variety to their assets.
The success of Bitcoin has led to the creation of places to buy, sell, and store it. Companies like Binance have become important, with Binance started in 2017 in Tokyo, Japan4. Bitcoin.com, Bitfinex, BitGo, and BitMain are just a few others that help make Bitcoin easy to use globally4.
Bitcoin Exchange Comparison
Let’s look at two major Bitcoin exchange platforms. Kraken has been around since 2011, making it one of the oldest. It lets users trade over 200 different cryptocurrencies5. Coinbase, created in 2012, is known for its support of over 5,500 assets and has fees that start from 0.00%5. These places let people buy or sell Bitcoin and many other crypto options online.
Bitcoin (BTC) started it all and remains at the forefront. It’s the forerunner in digital money, showing incredible growth and adoption. Today, it continues to play a significant role, changing traditional finance and drawing in more investors.
Ethereum (ETH)
Ethereum (ETH) is one of today’s leading cryptocurrencies. It stands as the world’s second-largest digital asset. It’s valued at around $380 billion6. ETH is the primary digital currency on the Ethereum platform. It allows users to make various types of transactions, invest digitally, and make off-Ethereum payments6.
Ethereum is different from our usual financial systems. It’s decentralised, making way for unique applications and secure records-storing6. This decentralisation helps make digital assets, such as money or property, possible on Ethereum6.
Ethereum operates through a vast network of computers, or nodes. This network runs smart contracts and decentralised applications (dApps)6. It supports a more open and secure way of handling financial matters6.
ETH is Ethereum’s own cryptocurrency. It’s vital for rewarding people who help maintain the network. They do jobs like running the network using their computers6. This way, the network stays strong and keeps growing6.
ETH’s value is easily seen on many cryptocurrency exchanges. This makes trading and investing in it simple. You need a secure wallet to hold your ETH6.
In October 2023, Ether got another option for investment, through Ether futures ETFs6. ETFs like the VanEck Ethereum Strategy ETF (EFUT) and ProShares Ether Strategy ETF (EETH) came into play. They let people bet on ETH’s value without actually owning ETH6.
In January 2024, the way cryptocurrencies were viewed changed. The SEC allowed ETFs for Bitcoin and then for Ether6. This was big news for anyone looking to invest in digital coins6.
Comparison of Ethereum Fees on Different Platforms
The cost of using Ethereum can change from platform to platform. Gemini, for example, charges between $0.99 and $2.99 for under $200 orders, but 1.49% for bigger trades7. Coinbase has fees that go from 0% to 0.60%7. On Robinhood, it’s free to trade stocks, ETFs, and some digital coins7. eToro takes 1% when you trade digital coins plus a small spread. But they don’t take any money when you buy stocks or ETFs7.
Key Insights on Ethereum
Ethereum makes up about 20% of the world’s cryptocurrency market8.
It creates new blocks much faster than Bitcoin, every 12 seconds8.
Unlike Bitcoin, there’s no set limit to how much Ether can be made8.
Ethereum 2.0 is set to be much better for the environment, cutting its energy use heavily8.
Each year, it can make up to 18 million more Ether, which could lead to inflation8.
Transaction fees on Ethereum can vary and sometimes they can get expensive8.
Ethereum has built a strong environment that’s always evolving. It’s full of chances and has a growing impact on the digital finance world. With its useful tech and growing community, Ethereum is a smart pick for investors and users.
When we talk about Ether and Ethereum, keeping up with what’s happening is key. Understanding the market, security, costs, and how staking works is important7. By being informed, people can make the most of Ethereum and its opportunities in the changing financial field.
Tether (USDT)
Tether (USDT) is a top stablecoin in the crypto world. It offers security in a market that changes a lot. It’s backed by real money like the US dollar and Euro. Tether’s valuable, even though it doesn’t grow in value each year. This makes it interesting for 20249.
Tether started in 2014. It’s used on many systems and platforms9. By March 2024, over $100 billion Tether was floating around. This big amount worries some people about its effect on crypto9. Tether Limited runs the USDT. They also own Bitfinex, a crypto exchange9.
Tether has a big market share, 64% of stablecoins9. In 2019, it was traded more than Bitcoin9. Tether was in half of all Bitcoin deals in July 20219. Its wide use has made it important in crypto.
However, Tether has faced issues. It was linked to illegal deals worth $19.3 billion in 20239. Also, it didn’t always have all the money it should have between 2016 and 20189.
Yet, Tether says it has nearly $100 billion in actual assets for USDT10. The money’s kept safe with mostly cash and US Treasury bills10. Still, the CFTC fined Tether $41 million for not having enough support for its money from 2016 to 201810.
Tether has also made different stablecoins. These are backed by the Euro, Chinese yuan, and Mexican peso. This makes the stablecoin market more diverse and helps different places10.
In April 2024, Tether joined with Fuze. They will work to educate about digital assets, especially in Turkey and the Middle East11. Their aim is to make digital assets and blockchain easy to understand11. They want to meet laws and teach shops, companies, and banks how digital assets, like Tether, help11.
Tether’s CEO is happy to spread digital assets in Turkey, the Middle East, and North Africa11. Fuze’s CEO believes digital assets will shape the future of money. He thinks learning about them is key11.
Tether (USDT) Market Summary
Key Statistics
Data
Launch Year
2014
Market Cap
$112.4 billion
Year-over-Year Return
0%
Tether’s Reserves
84.58% cash, cash equivalents, and short-term deposits 76.87% in U.S. Treasury bills
Market Share
64%
Tether’s Assets
$99.45 billion
Binance Coin (BNB)
Binance Coin (BNB) is the currency used on Binance Exchange, a top global crypto platform. Users can use it for payments and to cover fees.
With an $89.9 billion market cap, BNB is a major player in cryptos after Bitcoin, Ethereum, and USD Tether12. Its high cap shows it’s widely used and trusted.
In recent times, Binance Coin grew by 164%. This makes it a good choice for those who want to earn well in crypto12.
As of May 2024, BNB had a $1.45 billion trading volume in a day12. This points to its popular demand for trading.
During a BNB burn in April 2024, Binance destroyed 1.94 million BNB, worth $670.78 million. This action aims to make BNB more valuable by reducing its supply12.
The Binance Smart Chain does over 3.5 million transactions a day with BNB, more than Ethereum’s best. Even though it’s less than a peak in 2023, it’s still very active12.
Binance Coin is a top choice in the crypto market because of its huge market cap, strong growth, and active use. Traders and investors find BNB attractive due to its benefits and increasing popularity12.
Solana (SOL)
Solana (SOL) stands out in the world of cryptocurrencies. It uses a high-speed blockchain. This tech is changing how we use decentralized finance (DeFi) apps, DApps, and smart contracts. With its new tech and quick growth, Solana leads in the market.
In 2021, its coin, SOL, grew by almost 12,000%. It reached over $75 billion in value13. By the end of 2022, this fell to about $3.63 billion13. Even with the drop, Solana’s tech keeps impressing.
Solana can process many transactions fast. By December 12, 2023, it handled over 253 billion transactions. This made using Solana smooth and quick for its users. It costs just $0.00025 for a transaction, making it affordable.
Its network can process a lot at once. It can do up to 710,000 transactions a second in a standard set-up. But with a 40 gigabit network, this number goes up to 28.4 million transactions a second13. This shows how well Solana’s tech is built.
As of December 12, 2023, Solana was the sixth largest crypto by market value13. This shows how popular and trustworthy Solana has become.
Solana has had ups and downs. Its value dropped a lot in 2022, but it grew again in 2023. These changes show the market’s response to Solana’s potential14.
Solana offers fast and cheap transactions. It uses unique methods that beat Ethereum’s fees by a big amount. Solana’s setup is both secure and scalable, which is vital for a blockchain15.
It’s also eco-friendly, using much less energy than other blockchains. This is great news for those wanting greener technologies15.
The Solana network is not just about transactions. It’s a hub for DeFi apps, with over 350 already running on Solana. The team is always creating new tools, like Solana Pay, for users and developers15.
Solana reached a high value in November 2021. At this time, its NFT market also grew a lot. This proves that Solana is a big name in both markets15.
Buying SOL can be a good move if you are okay with the ups and downs of crypto. But always get advice from a financial pro before investing.
Want more info on Solana? Check out places like Investopedia, Wikipedia, and Forbes. They have great insights.
U.S. Dollar Coin (USDC)
The U.S. Dollar Coin (USDC) aims to keep a 1:1 peg with the U.S. dollar. It does this by having cash or equivalent funds to match its circulation16. This coin uses the Ethereum blockchain. This makes USDC stable and good for worldwide transactions in the crypto market.
USDC has a $32.75 billion market cap because many people trust and use it17. There are 32.75 billion USDC in circulation. This makes it a big player in the world of stablecoins17. USDC’s price mostly stays a bit over $1, moving in small $0.0001 steps16. It’s been mostly at $1 since mid-2020, ensuring reliability for its users16.
USDC works well with various blockchains: Ethereum, Algorand, Solana, and more16. Deloitte, a reputable company, looks after USDC’s funds. They give monthly reports to prove USDC is reliable16.
Yet, USDC had a big problem when 8% of its funds were at Silicon Valley Bank. This led to USDC losing its peg value when the bank failed16. Even after this, traders and investors still trust USDC for its stability in digital deals.
In July 2022, 55 billion USDC were in use18. The USDC project started on May 15, 2018. It ran by a partnership between Circle and Coinbase, called Centre. Later, in September 2018, it was officially launched18. By August 2023, Circle had full control of USDC after the Centre Consortium was closed18.
However, in March 2023, USDC faced a big issue. Its value to the dollar slipped because some reserves were at risk. This risk came from the failure of Silicon Valley Bank18. Circle acted to manage this risk and in February 2024, they stopped using USDC on the TRON blockchain. They gave customers a year to move their USDC to other options18.
So, USDC has been through tough times but has shown it’s a stable and trustworthy part of the crypto world. With its U.S. dollar peg and use on many blockchains, USDC is a strong choice for global digital transactions16. It’s faced challenges, yet USDC stands strong and keeps growing in the digital economy.
XRP (XRP)
XRP is a digital currency made by Ripple. It is a key name in the crypto world with a market cap of £26.9 billion. This makes it one of the most traded currencies. Its quick transaction times stand out, taking between 3 to 5 seconds for confirmation, a lot faster than Bitcoin. This speed is very useful for fast and secure transfers. It has a yearly return of -6% but is still a big player in crypto.
XRP is known for its rapid transaction speeds. It processes transactions in 3 to 5 seconds, quicker than Bitcoin. It’s ideal for those who need fast and reliable payments. Also, it is cheaper to send XRP than Bitcoin, with fees at 0.00001 XRP per transaction. This makes it more cost-effective for both people and businesses who want to move money around19.
Ripple, the company behind XRP, aims for fair play and steady growth. In 2017, they locked away 55 billion XRP to control how it’s spread out. Each month, they also add 1 billion XRP to the supply. This steady hand helps prevent sudden shocks in the market from too many coins appearing all at once19.
XRP doesn’t use as much power as Bitcoin because it works differently. Instead of Bitcoin’s heavy energy use, XRP uses a system that’s low on energy. This means its network doesn’t cost as much to run, keeping transactions cheap19.
Buying XRP is easy through many well-known exchanges, including Bitstamp, Kraken, and Coinbase. This variety makes XRP available to more people and businesses. It makes it easier for investors to join in20.
The XRP Ledger has not had any major problems in over 10 years. This long track record shows it’s a reliable place for transactions. It has handled millions of transactions without a hitch21.
The cost of making a transaction on the XRP Ledger is very low. It’s just a small fraction of a penny for each transaction. This makes XRP a good option for all sorts of monetary movements, from tiny payments to big business deals21.
The people who use XRP form a lively group dedicated to its growth. This community includes companies, developers, and others who work together to improve XRP’s ecosystem21.
Developers looking to use XRP in their projects can find lots of support from XRPL. They offer tools, guides, and example code in several programming languages. This support helps creative minds make the most of the XRP Ledger21.
Buying and Storing XRP
XRP is easy to buy on carefully regulated exchanges in the U.S., ensuring they follow the law. Top exchanges like Coinbase and Kraken offer a safe and easy way to buy XRP. They give users a simple way to buy their first digital currency20.
Also, buying XRP is possible through crypto ATMs. These machines take cash and turn it into XRP quickly. Brands like General Bytes and BitAccess make it convenient to purchase XRP this way20.
For holding XRP, mobile wallets are a handy solution. Apps like Trust Wallet or Exodus let users keep their XRP safe on their phones. They are easy to use and protect the user’s digital coins20.
Some XRP holders choose to lend out their XRP for extra earnings. By doing this, they help keep XRP plentiful and earn rewards too. This method offers a passive way to make more XRP20.
Many exchanges also have reward schemes for XRP holders. These perks can include more interest on savings or lower trading fees. Such offers encourage people to keep and trade XRP with these platforms20.
Peer-to-peer services make trading XRP more private. This means people can exchange XRP directly with others. It removes the need for a middleman while trading, enhancing privacy and decentralization20.
DeFi platforms are also opening up new ways to use XRP. Services like PancakeSwap and dYdX offer lending and trading without a central company. These options broaden the use of XRP within the crypto world20.
Dogecoin (DOGE)
Dogecoin (DOGE) started as a funny cryptocurrency in December 2013. It was made by Billy Markus and Jackson Palmer. They were from Portland, Oregon, and Sydney, Australia.
Even though it began as a joke, Dogecoin became very popular. Its value is now almost $24.39 billion, putting it high in the cryptocurrency world22.
In the big crypto boom of 2017 to 2018, Dogecoin’s value passed $1 billion. This showed it has a chance to grow and be used more widely22.
Dogecoin uses similar tech to Litecoin and works on the Scrypt algorithm. This makes it very safe and good for handling transactions22.
By December 2023, Dogecoin stood out for having lower fees than Bitcoin and Ethereum. This makes it easier for people to use22.
Dogecoin is different from Bitcoin as it doesn’t have a limit on how many coins can be made. This means new coins are always being made22.
You can buy and sell Dogecoin on big platforms like Coinbase, Binance, Kraken, and Robinhood. This means there are many places to get involved and make investments22.
It has also found a cool use. People tip content makers on places like Reddit with Dogecoin. This lets fans support their favourite creators22.
Dogecoin is loved for its fun nature and strong community. Its market value is $20.3 billion, and it grew by 130% in one year. It’s a cryptocurrency to watch22.
Users can use Dogecoin to pay for subscriptions and in-platform currency23
Dogecoin is great for quick, cheap transactions. It takes about 2 minutes to process and costs less than $1. This is perfect for private and independent finance handling23.
Compared to regular payment cards, Dogecoin’s fees are much lower. It’s a good option for saving money on transactions23.
When compared to bank transfers, Dogecoin is much faster. It speeds up how people deal with money matters23.
Dogecoin is not just a joke. Its special start, strong community, and support from big companies make it a serious player in the digital world’s future.
Cardano (ADA)
Cardano is a blockchain platform that wants to offer a safe and big enough space for decentralized apps and smart contracts. It’s called Crypto 3.0 because it tries to do better than Ethereum, known as Crypto 2.024. It is super green, being 1.6 million times more eco-friendly than Bitcoin24. The coin for the Cardano network is called ADA, after Ada Lovelace, a famous mathematician from the 19th century24.
Cardano outdoes Bitcoin and Ethereum 1.0 by a lot, handling more than 250 transactions per second. This makes it very scalable24. Instead of the energy-hungry proof-of-work, it uses a kinder proof-of-stake system24. This means less energy is used. Also, instead of mining, people holding ADA help check the network and get rewarded24.
There are two official wallets for Cardano, offering different ways to use the network. People can earn more ADA by putting assets in the system and get a say in voting for the network’s future24. Even though it’s newer than Ethereum, Cardano stands out for its quality checks and focus on being open for all to join in. This could mean a longer life for Cardano24.
You can buy ADA on big exchanges like Binance, Coinbase, Gemini, and Kraken24. Cardano’s market value is £15.3 billion and has given investors a 53% profit. This makes it interesting for those looking to invest24.
Here is some important info about Cardano in a table:
Total ADA supply
45 billion ADA
Circulating supply of Cardano (ADA)
approximately 31 billion ADA
ADA allocated to IOHK at network launch
2.5 billion ADA
ADA allocated to EMURGO for early development work
2.1 billion ADA
ADA allocated to the Cardano Foundation for platform promotion
648 million ADA
Percentage of ADA circulating supply that went to founders
16%
Percentage of ADA circulating supply split among investors
84%
Estimated amount raised during Cardano’s ICO
$62.2 million USD
Cardano’s Ouroboros PoS consensus mechanism energy efficiency
over 4x more energy efficient than Bitcoin’s PoW
Cardano network’s governance by ADA holders through stake and voting mechanisms
Yes
Cardano involves some risk, so starting with small amounts is smart24. But it’s dedicated to being eco-friendly and useful in the real world. This makes it a strong contender in the cryptocurrency world for 2024.
Conclusion
The cryptocurrency market is always changing and growing, with new players and tech showing up all the time. The companies we talked about are at the forefront of this innovation and growth.
But, putting money into crypto is risky. It’s really important to look into things and think about what you want from your money before you decide to invest. Keep learning and stay up to date with the latest news, and you might just find some great chances to invest in the crypto market in 2024.
Companies like Block, Inc., with their large number of offices and employees worldwide, show how crypto is creating jobs and boosting economies25. Then there are others, like Robinhood and Zabo26, which point to the strong growth and interest in this area.
And looking at the success of big names like Coinbase, Canaan, and Galaxy Digital shows the huge potential for money-making in crypto27. As this market grows, there are big chances for both investors and companies to do well.
FAQ
What is the market cap of Bitcoin (BTC)?
Bitcoin (BTC) has a market cap of
FAQ
What is the market cap of Bitcoin (BTC)?
Bitcoin (BTC) has a market cap of $1.3 trillion.
What is the year-over-year return of Bitcoin (BTC)?
Over a year, Bitcoin (BTC) has seen its value grow by 160%.
What is the market cap of Ethereum (ETH)?
Ethereum (ETH) is valued at $424.8 billion.
What is the year-over-year return of Ethereum (ETH)?
The past year, Ethereum (ETH) has gained 103% in value.
What is Tether (USDT) and how does it work?
Tether (USDT) is special. It’s a stablecoin linked to real currencies like the USD and Euro. This link keeps its value stable, making it a trusted option in volatile markets.
What is the market cap of Tether (USDT)?
The market cap of Tether (USDT) reaches $112.4 billion.
What is the market cap of Binance Coin (BNB)?
Binance Coin (BNB) stands at a market cap of $89.9 billion.
What is the year-over-year return of Binance Coin (BNB)?
Binance Coin (BNB) grew by 164% over the last year.
What is Solana (SOL) and what is it used for?
Solana (SOL) is a top-notch blockchain. It supports DeFi, apps, and smart contracts. It uses a special method for transactions, making them fast and secure.
What is the market cap of Solana (SOL)?
Solana (SOL) has a market cap of $70.8 billion.
What is the market cap of U.S. Dollar Coin (USDC)?
The market cap of U.S. Dollar Coin (USDC) is at $32.0 billion.
What is XRP (XRP) and who created it?
XRP (XRP) comes from Ripple, a tech and payments firm. It’s made to easily swap different currencies, both fiat and crypto.
What is the market cap of XRP (XRP)?
XRP (XRP) has a market cap reaching $26.9 billion.
What is Dogecoin (DOGE) and why is it popular?
Dogecoin (DOGE) started as fun but grew because of its fans and smart ads. Its unlimited supply might bring its value down in the long run.
What is the market cap of Dogecoin (DOGE)?
Dogecoin (DOGE) has a market cap of $20.3 billion.
What is Cardano (ADA) and what does it aim to provide?
Cardano (ADA) is a platform for safe and scalable apps and contracts. It stands out for using less energy and being fast with its validation method.
What is the market cap of Cardano (ADA)?
The market cap of Cardano (ADA) is $15.3 billion.
.3 trillion.
What is the year-over-year return of Bitcoin (BTC)?
Over a year, Bitcoin (BTC) has seen its value grow by 160%.
What is the market cap of Ethereum (ETH)?
Ethereum (ETH) is valued at 4.8 billion.
What is the year-over-year return of Ethereum (ETH)?
The past year, Ethereum (ETH) has gained 103% in value.
What is Tether (USDT) and how does it work?
Tether (USDT) is special. It’s a stablecoin linked to real currencies like the USD and Euro. This link keeps its value stable, making it a trusted option in volatile markets.
What is the market cap of Tether (USDT)?
The market cap of Tether (USDT) reaches 2.4 billion.
What is the market cap of Binance Coin (BNB)?
Binance Coin (BNB) stands at a market cap of .9 billion.
What is the year-over-year return of Binance Coin (BNB)?
Binance Coin (BNB) grew by 164% over the last year.
What is Solana (SOL) and what is it used for?
Solana (SOL) is a top-notch blockchain. It supports DeFi, apps, and smart contracts. It uses a special method for transactions, making them fast and secure.
What is the market cap of Solana (SOL)?
Solana (SOL) has a market cap of .8 billion.
What is the market cap of U.S. Dollar Coin (USDC)?
The market cap of U.S. Dollar Coin (USDC) is at .0 billion.
What is XRP (XRP) and who created it?
XRP (XRP) comes from Ripple, a tech and payments firm. It’s made to easily swap different currencies, both fiat and crypto.
What is the market cap of XRP (XRP)?
XRP (XRP) has a market cap reaching .9 billion.
What is Dogecoin (DOGE) and why is it popular?
Dogecoin (DOGE) started as fun but grew because of its fans and smart ads. Its unlimited supply might bring its value down in the long run.
What is the market cap of Dogecoin (DOGE)?
Dogecoin (DOGE) has a market cap of .3 billion.
What is Cardano (ADA) and what does it aim to provide?
Cardano (ADA) is a platform for safe and scalable apps and contracts. It stands out for using less energy and being fast with its validation method.
Julia Blackwood is a technology enthusiast and expert writer for PCSite.co.uk. With a passion for all things digital, Julia stays up to date with the latest tech trends and innovations. She enjoys sharing her knowledge and helping readers make informed decisions when it comes to their tech needs. In her free time, Julia enjoys experimenting with new gadgets and exploring the digital world.
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