Home » Altcoins » 15 New Cryptocurrencies to Invest In: Which Crypto Will Boom?

AltcoinsInvestingJournal

15 New Cryptocurrencies to Invest In: Which Crypto Will Boom?

Petar Jovanović

July 23, 2024

0

The cryptocurrency market continues to grow at a fast pace this year, with new and innovative projects emerging constantly. As we enter deep into 2024, the crypto ecosystem will likely expand further, providing investors with no shortage of potentially promising investment opportunities.

While stalwarts like Bitcoin and Ethereum should retain their places among the top crypto assets, investors should keep an eye out for new disruptive crypto projects aiming to fulfill key needs in digital finance. The correct picks could become the bluechip cryptos of the future.

This guide will analyze 15 of the most exciting, early-stage cryptocurrencies that could present major upside for investors in 2024 and beyond. We will explore emerging cryptos across both blockchains and tokens that appear undervalued relative to their vast growth potential.

From revolutionary platforms like Radix to metaverse-focused tokens like Nexa, these cutting-edge crypto projects offer exposure to the next potential waves in blockchain technology. For investors willing to research and identify transformative projects early, these new cryptocurrencies could generate considerable returns if their visions are realized.

Best New Crypto Projects to Invest In

Layer Zero (ZRO) – hottest altcoin to buy now

👉 Use Case

LayerZero (ZRO) is an omnichain interoperability protocol enabling seamless communication and data transfer between different blockchain networks. It addresses interoperability challenges, allowing efficient and secure cross-chain interactions through a decentralized network of oracles and relayers.

👉 Good Investment

LayerZero’s modular and scalable design supports a wide range of decentralized applications and protocols, including notable projects like Stargate Finance and Trader Joe. Its ability to facilitate seamless asset transfers across multiple blockchains makes it a promising investment in the growing multichain ecosystem.

👉 Tokenomics

LayerZero’s native token, ZRO, has been launched this year and market cap is already over $500 million. Users should be cautious and only rely on official LayerZero communication channels to avoid scams and fake airdrops.

👉 Team & Community

LayerZero is backed by a team focused on enhancing blockchain interoperability with a strong commitment to security and trust. The community is advised to follow official channels for updates and to stay informed about the project’s developments.

Alephium (ALPH) – the best new crypto to invest in

Alephium (ALPH) is a sharded layer-1 blockchain focused on scaling Bitcoin’s Proof-of-Work (PoW) and Unspent Transaction Output (UTXO) model.

👉 Use Case

It offers a high-performance, secure, and energy-efficient platform tailored for decentralized finance (DeFi) applications, enabling users to build smart contracts, decentralized apps, and protocols.

👉 Good Investment

As an investment, ALPH presents opportunities for those interested in blockchain technology and DeFi, given its innovative approach to scaling and security. The project’s emphasis on community involvement and contributions can enhance its long-term sustainability and value proposition.

👉 Tokenomics

ALPH serves as the native token for the Alephium ecosystem, rewarding miners for securing the network and incentivizing developers and contributors for their involvement. The tokenomics are designed to foster engagement and participation from various stakeholders, promoting network growth and sustainability.

👉 Team & Community

Alephium boasts a dedicated team and an active community, with a strong emphasis on community involvement at all levels, from mining to development, content creation, and project awareness initiatives. By encouraging contributions, Alephium aims to cultivate a healthy and vibrant ecosystem that drives the project’s growth and development.Copy

Tectum (TET)

Tectum is a high-speed Layer 2 blockchain platform renowned for its rapid transaction capabilities and innovative transaction solutions.

👉 Use Case

Tectum’s primary use case is its SoftNote system, which allows for instant, zero-cost, trustless transactions, providing a scalable solution for digital cash operations across various blockchains.

👉 Good Investment

Investing in Tectum could be promising due to its unique position as the fastest blockchain, its advanced cybersecurity measures, and the integration of its T12 protocol, which could drive widespread adoption and utility.

👉 Tokenomics

Tectum’s ecosystem is supported by its utility tokens, including the Tectum Emission Token (TET) and its ERC-20 and BEP-20 versions, which are used for functions like SoftNotes creation and offering incentives like reduced merchant fees.

👉 Team & Community

The Tectum project is backed by CrispMind, a team with over eight years of experience in cybersecurity, and it has cultivated a growing community attracted by its vision of a frictionless and decentralized monetary system.

Radix (XRD)

Radix is a layer-1 decentralized network protocol focused on building and deploying DeFi applications with scalability, security, and interoperability.

👉 Use Case

Radix aims to be the scalable and secure platform for the decentralized finance (DeFi) ecosystem. It provides developers with tools to quickly build and deploy DeFi apps like DEXs, lending platforms, wallets, and more.

👉 Good Investment

Radix offers demonstrable improvements over Ethereum in areas like scalability and transaction costs. With strong community and investor interest, Radix has potential to be a leading smart contract platform.

👉 Tokenomics

XRD has a fixed max supply of 24 billion tokens. Tokens are allocated for staking rewards, early backers, the Radix team, and the community. Transaction fees are burned, making XRD deflationary.

👉 Team & Community

Radix was co-founded in 2013 by Piers Ridyard, a technology entrepreneur. Radix has an active community across Twitter and Telegram that provides feedback on development.

Orchid (OXT)

Orchid offers a decentralized VPN service that uses blockchain technology to provide online privacy and security. Its native token is OXT.

👉 Use Case

Orchid allows users to access the internet via a global network of VPN providers in a secure and private manner. Orchid uses multi-hop routing and end-to-end encryption to preserve privacy.

👉 Good Investment

Data privacy is an increasingly important issue, making Orchid’s VPN service valuable. Partnerships with major chains like Ethereum also validate the project’s real-world utility.

👉 Tokenomics

OXT has a fixed supply of 1 billion tokens. The token is used to pay for VPN bandwidth, incentivize VPN node operators, and participate in Orchid’s governance. A staking mechanism also applies.

👉 Team & Community

Orchid was founded in 2017 by Dr. Steven Waterhouse and Jay Freeman who bring extensive experience in cryptography and network infrastructure. Orchid has fostered an active developer community on GitHub.

SKALE Network (SKL)

SKALE Network is an elastic blockchain network that aims to provide high throughput, low latency, and data availability for decentralized apps built on Ethereum.

👉 Use Case

SKALE allows developers to easily deploy and scale dApps by creating customized “SKALE chains” that connect to Ethereum. This enables faster and cheaper dApp iterations.

👉 Good Investment

SKALE unlocks scalability for Ethereum-based dApps which expands the design possibilities for developers. With strong VC backing and developer demand, SKALE has significant growth potential.

👉 Tokenomics

SKL has a max supply of 10 billion tokens. Tokens are earned by developers for operating SKALE chains, validators for securing the network, and the community via staking rewards.

👉 Team & Community

SKALE Network was founded in 2018 and is supported by prominent investors like a16z Crypto, Paradigm, and NGC Ventures. SKALE fosters an active developer community.

Stargate Finance (STG)

Stargate Finance offers a decentralized exchange built on LayerZero that enables simple token swaps and asset transfers across multiple blockchains.

👉 Use Case

Stargate Finance allows users to easily trade and move assets across different networks like Ethereum, BNB Chain, Polygon etc. This delivers the seamless cross-chain experience necessary for an interconnected DeFi ecosystem.

👉 Good Investment

Cross-chain liquidity and communication is key to unlocking blockchain interoperability. Stargate Finance is building core infrastructure to bridge fragmented networks, partners, and capital.

👉 Tokenomics

STG will have a max supply of 1 billion tokens. STG enables fee-less transfers between chains and community governance over protocol changes. A portion of fees may be used to reward STG stakers.

👉 Team & Community

Stargate Finance launched in 2022 and is led by former core developers of SushiSwap. Stargate Finance has built an engaged community through developer education and hackathons.

Dynex (DNX)

Dynex is a specialized blockchain that utilizes AI and machine learning to support enterprise applications with high throughput, efficiency, and security.

👉 Use Case

Dynex provides the performance and reliability needed for business use cases in manufacturing, healthcare, supply chain etc. Its DynexSolve chip algorithm optimizes efficiency and scalability.

👉 Good Investment

Leveraging AI and neuromorphic computing gives Dynex a unique advantage in the blockchain space. Dynex caters to the lucrative enterprise sector with real-world utility.

👉 Tokenomics

DNX has a max supply of 110 million tokens. Tokens are earned through mining, staking, and developing on Dynex. Transaction fees are also collected in DNX which may be burned over time.

👉 Team & Community

Dynex was founded by a team of engineers and researchers with expertise in cryptography, AI, and chip design. Dynex engages the developer community through hackathons, education, and its Discord channel.

Aura Finance

Aura Finance offers a suite of decentralized finance services including yield optimization, lending, and leveraged farming to maximize returns for users.

👉 Use Case

Aura Finance allows users to supercharge yields through leveraged farming strategies. It also simplifies DeFi participation through aggregated liquidity pools, lending markets, and portfolio analytics.

👉 Good Investment

As a one-stop DeFi platform, Aura Finance provides a valuable service that onboards mainstream users into crypto. Strong incentives and ease-of-use drive ecosystem growth.

👉 Tokenomics

Aura Finance utilizes a native token for governance and to reward ecosystem participation through staking and farming. Details about max supply and distribution are unclear from available sources.

👉 Team & Community

Aura Finance was launched by an anonymous team of experienced DeFi builders focused on optimizing capital efficiency. They engage the community through Discord and Twitter.

Taraxa (TARA)

Taraxa is a purpose-built blockchain network optimized for machine economy applications such as IoT, AI, and machine learning.

👉 Use Case

Taraxa provides fast transaction speed, quick confirmation times, and smart contract support needed for machine-to-machine interactions. Advanced cryptography secures device networks.

👉 Good Investment

Taraxa is specifically engineered for machine economies which represent a massive emerging market. Existing partnerships validate Taraxa’s technology and real-world role.

👉 Tokenomics

TARA has a max supply of 10 billion tokens. Tokens are earned through mining and staking, allocated to the team and community, or sold to raise funds for development.

👉 Team & Community

Taraxa was created in 2018 by blockchain engineers and IoT experts. They foster a technology-focused community that assists with testing and providing suggestions through GitHub.

Dione Protocol (DIONE)

Dione Protocol connects blockchain capabilities with sustainability efforts by creating DeFi products powered entirely by renewable energy.

👉 Use Case

Dione Protocol allows crypto users and businesses to seamlessly support and build on an eco-friendly platform. Its products include a crypto wallet, DEX, and NFT marketplace.

👉 Good Investment

Dione Protocol taps into massive consumer demand for eco-conscious brands. Its vision for a sustainable DeFi ecosystem resonates strongly with the progressive crypto community.

👉 Tokenomics

DIONE is the protocol’s utility and governance token. Specific max supply details are unavailable, but the token incentivizes green energy producers and is used for staking and transactions.

👉 Team & Community

Dione Protocol was founded in 2022 by a team focused on renewable energy and sustainability. They have built an engaged community of environmentally conscious developers and users.

Vela Labs (VELA)

Vela is an emerging layer-1 blockchain focused on high performance and scaling capabilities to support Web3 applications.

👉 Use Case

Vela utilizes innovations like dynamic sharding, Proof of Power consensus, and its Pivotal mechanism to achieve speed, scalability, and security needed for global adoption.

👉 Good Investment

As a next-gen blockchain capable of millions of TPS, Vela has potential to host mainstream applications with billions of users. Early growth and support point to possible upside.

👉 Tokenomics

Vela’s VELA token enables staking, governance, and network operations. Total supply is currently unclear – token distribution and additional utility specifics require further research.

👉 Team & Community

Vela Labs was founded in 2021 by former core developers from projects like Ryoshi Research and Area1202. They have built an active community of early supporters and developers.

Velas (VLX)

Velas is an AI-enhanced blockchain ecosystem focused on delivering reliability, stability, and security for decentralized products and services.

👉 Use Case

Leveraging AI helps Velas rapidly scale and maintain high transaction throughput. Velas provides fast settlement ideal for NFT/metaverse projects, crypto trading, business applications.

👉 Good Investment

With strong benchmarks set, Velas demonstrates capabilities needed for mass blockchain adoption. Backing from key Asia partners further validates Velas’ global role and growth potential.

👉 Tokenomics

VLX is used for paying fees, securing the network via staking, and as a governance token. VLX has a fixed max supply of 10 billion, with steady reductions in inflation planned over time.

👉 Team & Community

Velas was founded in 2019 by a team of engineers and researchers focused on AI, cybersecurity, and blockchain. They maintain strong ties across various developer communities globally.

Nexa Metaverse (NEXA)

Nexa offers an interconnected blockchain infrastructure that bridges networks to enable cross-chain interoperability and asset transfers.

👉 Use Case

Nexa allows any chain or network to seamlessly integrate and communicate with other chains through Nexa APIs and its cross-chain bridge. This unlocks composability.

👉 Good Investment

Seamless cross-chain experiences will be integral to Web3’s evolution. Nexa provides the critical bridging infrastructure to achieve this interconnectedness.

👉 Tokenomics

NEXA enables fee-less transactions, governance participation, and incentives for validators supporting the network. Supply details are currently unclear based on available info.

👉 Team & Community

Nexa utilizes a community-driven, open-source development model facilitated through GitHub. Contributors coordinate upgrades and development.

Router Protocol (ROUTE)

Router Protocol is a cross-chain infrastructure project focused on aggregating DeFi liquidity across isolated blockchain networks.

👉 Use Case

Router Protocol enables seamless transfers of assets and data between any blockchain network. This delivers the interoperability and composability needed for an open DeFi ecosystem.

👉 Good Investment

As DeFi expands across multiple chains, Router Protocol provides the connectivity and tooling needed to unlock network effects and usability.

👉 Tokenomics

ROUTE has a max supply of 100 million tokens. The token aligns incentives via staking rewards, governance participation, and fee capture as Router Protocol scales.

👉 Team & Community

Router Protocol was founded in 2020 by former Uber and EY engineers. Development is community-driven with contributors enhancing the open-source protocol on GitHub.

RocketX Exchange (RVF)

RocketX Exchange is a decentralized cryptocurrency exchange that aggregates liquidity and enables access to trading pairs across both DEXs and CEXs.

👉 Use Case

RocketX provides a unified interface to trade across a wide range of liquidity pools with optimized order routing and execution. This simplifies trading complexities.

👉 Good Investment

Given the fragmented liquidity across exchanges and chains, RocketX solves a clear market problem by aggregating and optimizing pools.

👉 Tokenomics

A planned RVF token would likely align incentives via governance rights, staking rewards, and fee capture. However, details remain unclear on max supply or distribution.

👉 Team & Community

RocketX was founded by experienced trading infrastructure engineers from Kraken, Jump Trading, Tower Research, and Pegasus Fintech. The team regularly engages its community.

How to Find Promising Crypto Projects

• Examine project fundamentals like the whitepaper, technology architecture, and product roadmap
• Research the background of the core team for relevant experience and capabilities
• Assess network adoption metrics such as daily active users, transaction volumes, developer activity
• Analyze the tokenomics including issuance schedules, governance mechanisms, and incentive structures
• Join online communities to gauge genuine engagement and support from users and contributors
• Evaluate partnerships, investors, and advisors to validate the project’s credibility and connections
• Monitor social channels and media coverage to stay updated on significant development milestones
• Follow crypto analysts, influencers, and experts to get balanced opinions on emerging projects

Read also:

• Best Future Crypto Projects to Buy: Which Crypto Will Grow Fastest?
• Top 15 Cryptos With the Highest Potential: Comprehensive Analysis & Investment Guide
• Best Crypto to Buy Now on Reddit

What Makes a Good Crypto Investment

• Compelling product-market fit that addresses a real user need
• Technical innovation and capabilities that improve upon status quo
• A viable path towards user adoption and ecosystem growth
• Sufficient liquidity and exchange availability
• Strong token economics with aligned incentives
• Experienced leadership team with proven track record
• Active contributor community providing support and enhancements
• Fully decentralized governance controlled by token holders
• Robust security safeguards that have been audited
• Transparent documentation providing insights into the project

Conclusion

The cryptocurrency sector continues to undergo rapid evolution with new innovations constantly emerging. While risks remain investing in nascent projects, proper evaluation of project fundamentals can help identify investment opportunities with long-term upside potential.

The cryptocurrencies profiled in this article exhibit strong real-world utility, adoption traction, talented teams, and engaged communities that make them promising contenders as the market matures. By developing a thorough understanding of core project tenets, investors can make informed crypto investment decisions as we head into an exciting new era of Web3 development.