Crypto assets have gained momentum in recent months following a massive institutional influx into the market. These flows were launched in the second quarter of 2023 following the implementation of BlackRock's Bitcoin (BTC) Spot ETF which opened the door to more traditional companies wanting to grab a share of the market leader. As cryptocurrencies continue to rise, here is a list of the top five crypto assets to watch out for in 2024.
Bitcoin
It's no surprise that Bitcoin is an asset to watch out for if it goes higher in 2024 based on recent performance and future events. As of Q4 2023, investors have increased their appetite for the market leader pushing the price above $44,000 before the end of the year.
This year, Bitcoin surged to a new all-time high above $72,000 after ETF approval and dragged the entire cryptocurrency market into a bullish phase. Bitcoin is an asset that is keen to make further gains due to the upcoming halving event in April. A halving that lowers Bitcoin's rewards is historically expected to be a bullish phase for the asset.
Ethereum
The leading altcoin is one of the crypto assets to watch out for for the rest of the year as major indicators show signs of growth for the asset. ETH is currently trading at $3,292, and analysts believe ETH remains key for the next uptrend.
The reasons range from its future catching institutional eyes, Dencun's promotion, and potential immediate approvals for ETFs by the Securities and Exchange Commission (SEC).
Solana
Solana (SOL) has been enjoying a positive push since Q3 2023 as the coin registered massive institutional inflows. SOL is trading at $171.57 and boasts a monthly gain of 68% although it is facing a slight correction at the moment.
Last year, Solana rose 830%, turning the tide of the 2022 cryptocurrency market crash following the fall of the Terra stablecoin and the subsequent collapse of FTX.
Dogecoin and BOME
Analysts say Dogecoin (DOGE) and BOOK OF MEME (BOME) are two meme coins with chances to post more gains in 2024. DOGE has traded less than 1% in the past 24 hours due to the general market correction but has gained 80.6% and is up By 104% over the past year.
On the other hand, BOME is a memecoin with a lot of buzz around the social media spaces with Solana memecoin continuing the trend. BOME price is up >4.5% in the last 24 hours and 59.9% in the last 7 days.
Read also: Highest liquidations recorded in Memecoins following broader market outflow
