The cryptocurrency market has been on a remarkable bull run in recent months.
Bitcoin has repeatedly shattered its all-time high, surging to new record levels in late February and early March. This bullish sentiment has spilled over into the broader crypto market. However, Bitcoin price then entered a correction phase during the summer months and is now trading below its ATH of around $73k.
At the same time, savvy investors are turning their attention to the best cryptocurrencies to invest in for 2024. They are on the hunt for alternative cryptocurrencies, or altcoins, that show strong fundamentals and promising use cases. In this climate of heightened interest and optimism, identifying the best crypto to buy now has become a top priority.
With Bitcoin leading the charge, the crypto space is teeming with opportunities across a diverse range of altcoin projects. In this article, we present the top 10 hottest cryptocurrencies to consider adding to your portfolio as the bullish momentum continues to drive the market forward.
What you'll learn 👉
What are the hottest cryptos right now?
| Hot Crypto to Buy | Description |
|---|---|
| ⛏️ cat in a dogs world (MEW) | Built on the Solana blockchain, experienced a price surge that boosted its market cap to over $700 million |
| 💼 Polytrade (TRADE) | Focuses on tokenized real-world assets through its innovative marketplace. |
| 🔥 Maga (TRUMP) | Refers to the slogan “Make America Great Again,” popularized by Donald Trump during his presidential campaigns |
| 💼 Chainlink (LINK) | An oracle network that enables smart contracts on various blockchains to securely interact with real-world data, APIs, and payment systems |
| 💼 Alephium (ALPH) | A scalable blockchain platform that uses sharding and a novel consensus algorithm to achieve high throughput and energy efficiency |
| 💼 Banana Gun (BANANA) | Features a Telegram bot designed for users to buy and snipe tokens on the Ethereum blockchain, with plans for future multichain support and a unique tokenomics model |
| 🎮 Beam (BEAM) | The native token fueling the Beam network, an innovative gaming ecosystem powered by the Merit Circle DAO. |
| 🔗 Alephium (ALPH) | A scalable Layer 1 blockchain improving on Bitcoin’s PoW and UTXO technologies with its $ALPH token. |
| 💼 Kaspa (KAS) | Kaspa implements the GHOSTDAG protocol, enabling ultra-fast transactions and scalability with its $KAS token. |
| 🔥The Root Network (ROOT) | A blockchain infrastructure powering the open metaverse with a focus on user onboarding and enhancing the web3 experience and with relatively low market cap still. |
cat in a dogs world (MEW) – best meme coin to invest in now
MEW is a meme token created on the Solana blockchain. In fact, this is one of the hottest Solana meme coins globally in 2024. It draws an inspiration from internet culture and pop culture references, MEW leverages community enthusiasm and viral marketing to gain traction and popularity.
Unlike standalone blockchain projects, MEW is an SPL-based token, making it a part of the Solana ecosystem.
Recently, the price of MEW experienced a dramatic surge, propelling its market cap to over $700 million. This explosive growth underscores the token’s potential for rapid price movements, a hallmark of meme coins fueled by speculative fervor and community-driven momentum. Investors can buy, sell, and trade MEW on various cryptocurrency exchanges that support Solana-based tokens.
Polytrade (TRADE)
Polytrade (TRADE) is a decentralized finance (DeFi) platform designed to revolutionize the trade finance industry by leveraging blockchain technology.
It connects investors directly with small and medium-sized businesses, offering innovative blockchain-based solutions to streamline and enhance trade finance processes. Launched in 2022, Polytrade is particularly focused on the tokenization of real-world assets (RWAs), making it easier for investors to access and trade these assets.
Polytrade serves as a bridge between investors and businesses by providing a platform that facilitates the tokenization of trade finance instruments and other real-world assets.
By converting these assets into digital tokens, Polytrade aims to create a transparent, secure, and efficient marketplace where these tokens can be traded. The platform is designed to offer sustainable yields to investors while providing businesses with quicker access to working capital and increased liquidity.
Beam (BEAM) – Best GameFi token to buy
The $BEAM token is the native cryptocurrency fueling the Beam network – an innovative gaming ecosystem powered by the Merit Circle DAO. Beam brings together gamers and developers to collaboratively shape the future of the gaming industry.
A core component is the Beam SDK, a flexible software development kit that allows game developers to seamlessly integrate blockchain elements into their games. The SDK provides a range of tools and options for structuring these in-game blockchain features.
$BEAM tokens are required to interact with and access the Beam network’s capabilities. This native crypto asset facilitates all transactions, including transferring assets and interacting with smart contracts, enabling an immersive gaming experience.
Beyond its utility for transactions, $BEAM also serves as the governance token for the Merit Circle DAO, a decentralized autonomous organization established in early 2021 to drive innovation in gaming. Holding $BEAM allows participating in the governance of this community-driven DAO shaping gaming’s future.
Currently priced at $0.02 with a $1 billion market cap, $BEAM is strategically positioned as the Beam network and Merit Circle DAO continue gaining traction. The token plays a vital role in the gaming industry through blockchain integration and could become an important player in the GameFi narrative, when it does become a hot story this bull run.
Alephium (ALPH)
Alephium (ALPH) is a cutting-edge Layer 1 sharded blockchain that aims to scale and improve upon Bitcoin’s Proof of Work (PoW) and Unspent Transaction Output (UTXO) technologies. Alephium is a highly performant, secure, and energy-efficient network that focuses on decentralized finance (DeFi) and decentralized applications (DApps).
Built on the innovative BlockFlow and Proof of Less Work (PoLW) algorithms, Alephium combines scalability, secure Ethereum-inspired smart contracts, and energy efficiency with Bitcoin’s core UTXO and PoW technologies. The project utilizes UTXO sharding through the BlockFlow algorithm, which leverages a combination of Directed Acyclic Graph (DAG) and sharding for enhanced scalability and usability.
Alephium boasts several unique features that set it apart in the blockchain landscape. One of its standout innovations is the Proof of Less Work (PoLW) consensus mechanism, a novel approach that enhances efficiency while maintaining security and decentralization. Additionally, Alephium incorporates secure smart contract design inspired by Ethereum, as well as an innovative virtual machine design, both aimed at improving overall performance.
Currently trading at around $2.4, with a relatively small market capitalization of approximately $175 million, ALPH holds significant potential for growth in the current bull market. As the project continues to refine and expand its technology, with a focus on scalability, security, and energy efficiency, Alephium is well-positioned to capture a larger share of the burgeoning DeFi and DApp markets.
Kaspa (KAS)
Kaspa (KAS) is a decentralized, open-source, and highly scalable Layer-1 solution that prides itself on being the fastest and most scalable instant confirmation transaction layer built on a proof-of-work consensus engine. This innovative project follows in the ethos of cryptocurrencies like Bitcoin and Litecoin, operating as a community-driven initiative with no central governance.
Founded by Yonatan Somplinsky, one of the authors of the GHOSTDAG protocol, Kaspa implements this cutting-edge consensus mechanism as its underlying technology. The GHOSTDAG protocol allows blocks created in parallel to coexist and orders them in a decentralized consensus process.
This novel approach enables Kaspa to achieve remarkably high block rates, aiming for 32 blocks per second, and minuscule confirmation times dominated solely by internet latency.
Kaspa boasts several notable features that set it apart from other blockchain projects. It was fair-launched without any pre-mining or pre-allocation of coins, ensuring a level playing field for all participants. The network operates with an ultra-fast block time of just 1 second and has a circulating supply of 23.01 billion KAS tokens, with a maximum supply of around 28.7 billion.
To facilitate secure and user-friendly access to the Kaspa ecosystem, the project offers various wallet options for holding KAS coins, including the innovative Kaspa Web Wallet based on Progressive Web App (PWA) technology. Additionally, Kaspa employs kHeavyHash, a modified and resource-efficient variant of the “optical miner” HeavyHash algorithm, which integrates seamlessly with standard mining equipment like GPUs and FPGAs.
In a move to further enhance its decentralization and security, Kaspa has partnered with Flux to launch decentralized Kaspa blockchain nodes on their cloud platform, promoting greater resilience and scalability through increased node distribution.
With a current market capitalization of around $4, Kaspa (KAS) presents significant growth potential within the current bullish cryptocurrency market cycle.
The Root Network (ROOT)
The Root Network (ROOT) is an innovative blockchain infrastructure project powering the open metaverse, with a focus on enhancing user onboarding and delivering a seamless web3 experience. This comprehensive platform leverages several core elements to create a robust and feature-rich ecosystem.
At its foundation, The Root Network utilizes Substrate, a cutting-edge blockchain development framework that enables customization and developer support. Additionally, it incorporates Ethereum Virtual Machine (EVM) compatibility, allowing for the deployment and execution of secure smart contracts within its ecosystem.
One of the standout features of The Root Network is its suite of custom runtimes, including dedicated modules for non-fungible tokens (NFTs), gas economy management, decentralized exchange functionalities, and more. The Non-Fungible Assets Runtime, in particular, offers unique capabilities such as network-wide royalty enforcement and seamless NFT interoperability.
To ensure efficient network operation, The Root Network separates the ROOT token, used for staking and governance, from the XRP gas token, which powers transactions. This multi-token economy approach allows for optimized resource allocation and scalability. Furthermore, the platform enables the creation of standardized fungible tokens without the need for smart contract deployment, streamlining the process for developers and projects.
The Root Network’s tokenomics are designed to incentivize participation and foster a vibrant ecosystem. ROOT tokens are staked to contribute to network security and governance, with stakers earning VORTEX tokens as rewards. Additionally, users can earn rewards from various network activities, including a portion of the fees collected in a pool and distributed to stakers.
Notably, The Root Network has established strategic partnerships to enhance its capabilities and reach. It is integrated into the XRPL ecosystem, with a direct bridge and support for the XLS-20 NFT standard. Furthermore, the project has collaborated with Futureverse, a leading metaverse platform, to build and expand its offerings on The Root Network.
With a current market capitalization of around $100 million, The Root Network presents significant growth potential as it continues to refine its blockchain infrastructure and gain traction within the burgeoning metaverse and web3 ecosystems.
Conclusion – Hot cryptos to invest in
The cryptocurrency market’s current bullish momentum has given rise to a diverse array of innovative and promising projects, each offering interesting value propositions and potential for growth. Investors will have to choose some of these best altcoins to buy now.
From crowdfunding platforms and decentralized finance solutions to gaming ecosystems and scalable blockchain networks, the projects highlighted in this article represent the edge of blockchain technology and its myriad applications. Projects described in this article represent one of the hottest cryptocurrencies to buy right now.
Disclaimer: CaptainAltcoin does not endorse investing in any project mentioned in this article. Exercise caution and do thorough research before investing your money. CaptainAltcoin takes no responsibility for its accuracy or quality. This content was not written by CaptainAltcoin’s team. We advise readers to do their own thorough research before interacting with any featured companies. The information provided is not financial or legal advice. Neither CaptainAltcoin nor any third party recommends buying or selling any financial products. Investing in crypto assets is high-risk; consider the potential for loss. Any investment decisions made based on this content are at the sole risk of the reader. CaptainAltcoin is not liable for any damages or losses from using or relying on this content.
