Markets
3 cryptocurrencies to turn $100 into $1,000 by the end of 2024
In recent months, the crypto market has taken on an aura of frustration – even outright despair – for those who investors seeking to benefit from cryptocurrencies tend to multiply their value quickly during bullish cycles.
Crypto greats like Bitcoin (BTC) And Ethereum (ETH) have been mostly stagnant but have also experienced significant price declines – such as those they are experiencing at the time of publication – while even coin meme ‘fiesta’ is It is said that he is near his end.
Despite recent tendencies – and despite the fact that some believe that crypto bull market may already be coming to an end – many still believe that the June downturn is just a quiet period in a cycle that will soon reignite and take many digital assets to ever higher highs.
Regardless, for the broader crypto market, there remain several coins and tokens that have the potential to skyrocket before the end of 2024.
Solana (SOL)
End of June 2024, Solana (GROUND) is in a precarious situation. The fact that it has been so popular blockchain millions of new projects have exposed the Solana network to both criticism and potential legal problems – even if they are recent rumors of a “huge deal” are true.
Additionally, the SOL ecosystem came under fire on June 27 after a 90% drop stable coin daily volume makes a lot suspicious Wash trading has been used to inflate the numbers, and much of Solana’s popularity is little more than smoke and mirrors.
Despite this, SOL has also proven that it can quickly bounce back from positive news as was the case after the VanEck affair. plans to establish a trust for the token have been unveiled. Given that Solana is considered the most likely cryptocurrency to have an exchange-traded fund (ETFs) approved – after Ethereum, of course – it could well reach unprecedented heights before the end of 2024.
24-hour SOL price chart showing the immediate effects of VanEck’s deposit. Source: Finbold
XRP (XRP)
The argument in favor XRP the likely increase has remained largely unchanged for years. XRP is a major cryptocurrency whose price is severely depressed over the long term legal battle between Ripple and the SEC. Based on this assessment, it appears obvious that, if the regulator Even if XRP loses the battle in the next round of court battles, it has the potential to skyrocket if the aftermath of the first case is anything to go by.
Although this argument is relatively old, it has been strengthened by several developments over the past 12 months. The most recent of these is that the authority of the SEC appears to be waning.
Although far from being a final blow to the battle against Ripple, the decision by the Supreme Court of the United States (SCOTUS) decision Opposition to the regulator’s ability to use internal rules has certainly hampered the SEC’s ability to prevail in future cases.
In general, the Commission finds itself under increasing pressure, as Coinbase (NASDAQ: PIECE OF MONEY) recently filed its own trial against it and several other agencies, and Ripple has also scored occasional victories over the months.
MAGA (TRUMP)
The talk of the town – or rather the shining city on a hill – in 2024 has been the upcoming presidential elections. The trend has also translated in crypto markets and has generated numerous meme coins centered around one of the two main candidates – Joe Biden and Donald Trump – and several non-fungible tokens (NFT)collections.
While any of the candidate-themed cryptocurrencies could theoretically skyrocket if the associated politician wins, MAGA tokens have, at press time, started to appear much more likely than Biden’s.
This idea became even more true on June 28, given reports that the Democratic Party is seeks to replace the old president on the November ballot after his performance in the June 27 debate.
Among Trump’s cryptocurrencies, the biggest reaction to a victory will likely come from the MAGA meme coin (TRUMP). Not only is it the largest of the bunch, with a market cap of nearly $350 million, but it has already shown strong reactions to news related to the candidate.
Interestingly, the MAGA meme coin saw its biggest spike and all-time high (ATH) a day after former President Trump was convicted. Overall, the cryptocurrency’s price, at the time of publication, stands at $7.96 and is up 47,932% in the historical chart.
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