In the evolving world of cryptocurrency, where Bitcoin and Ethereum often take center stage, there isn't much focus on the other digital currencies. So, in order to change that in this article we will cover the top 5 cryptocurrencies to watch in 2024 that aren't Bitcoin and Ethereum. 

As we dive into 2024, investors and traders are observing the crypto universe for the next breakout points. In that case, if you're seeking strategic long-term investments or aiming to spot the next big thing in the crypto market, these altcoins have the potential to elevate your portfolio and potentially bring you profits.

 

Market Capital: $18.10 Billion

Cardano is a sustainable and environmentally friendly platform for smart contracts, Cardano operates as a PoS (Proof-of-Stake) blockchain platform to bring about positive global change. Its ADA token has seen a significant increase in value, rising over 150% since the 2022 crash. Investors are optimistic about Cardano's potential to compete with Ethereum in the smart contract space. 

In November 2023, ADA experienced another surge, reaching $0.59, the highest in four months. Where a recent 36% growth was fueled by the Cardano Summit 2023. These gains are part of a broader market recovery that started when Grayscale Investments reapplied for a Bitcoin ETF on October 19. Cardano's development based on evidence and peer-reviewed research could contribute to its growth in 2024. 

   

Market Capital: $29.89 Billion

XRP, the digital token connected to Ripple, has been in the spotlight recently. In June, its price shot up by 96% because a judge ruled in favor of Ripple in a case with the SEC, stating that selling XRP tokens on exchanges isn't the same as investment contracts. This was the highest value for XRP since March 2022.

Currently, XRP is the sixth-largest cryptocurrency, leading the market with a 10% surge aiming for a value of $0.7. The increase in XRP is attributed to growing interest from institutions and Ripple obtaining licenses to operate in Georgia and Dubai. Additionally, the accumulation of XRP by large holders, known as 'whales,' is believed to have an impact on its price.

   

Market Capital: $ 8.29 Billion

Considering the price changes of Chainlink (LINK) at the beginning of 2023, experts anticipated an average LINK rate of $14.84 in November 2023. This prediction turned out to be quite accurate, as LINK traded in the range of $12.8 to $16.4 during that time.

On November 9, 2023, the price of LINK increased by 15.87%, mainly due to positive investor sentiment and increased activity on the network, influencing the overall market. 

The surge in LINK's price is continuing and it is attributed to the approval of a spot Bitcoin ETF, growing interest in tokenizing real-world assets (RWA), and the expanding institutional use of LINK. 
 

 

Market Capital: $3.2 Billion

Stellar's own digital token, XLM, is gaining attention as a top cryptocurrency heading into 2024.

Stellar (XLM) is a blockchain network designed for payments and was founded in 2014 by Jed McCaleb, who co-founded Ripple. Stellar's goal is to enable fast and affordable transactions among banks, payment systems, and people around the world.

Recently, there has been a remarkable 3000% increase in trading volume for Stellar (XLM) as buyers eagerly acquired the cryptocurrency. This surge is credited to Ripple Labs winning a significant legal battle against the Securities and Exchange Commission (SEC).

Learn more about Ripple & SEC lawsuit here. 
 

 

Market Capital: $8.9 Billion

Polkadot is a platform that allows different blockchains to communicate, and it's becoming more popular.

Polkadot (DOT) has a unique design called parachain, along with adaptability and customization, making it promising for 2024.

Starting from October, the price of Polkadot has gone up significantly by 127%, reaching $8.54 per token.

According to DigitalCoinPrice, they expect Polkadot to be priced at $10.09 this year and potentially reach $15.90 in 2025. Looking further into the future, their forecast suggests that by 2030, the price of Polkadot might reach $50.44.
 

Conclusion 

The world of cryptocurrencies is always changing, and 2024 is expected to bring some exciting developments with several promising altcoins in the spotlight. While Bitcoin and Ethereum are still big names, the crypto space is known for its rapid changes.

Looking ahead to 2024, these top 5 cryptocurrencies offer various opportunities for people who trade or invest. However, it's crucial to keep in mind that the crypto market is unpredictable and can be risky, so it's important to research thoroughly and be cautious when thinking about investments.