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As we approach 2024, the crypto market continues to rise as a whole. This increase was marked by the largest cryptocurrency, Bitcoin (BTC), surpassing $40,000. The total market value of the crypto market has now exceeded $1.6 trillion. We have compiled cryptocurrencies that are considered “worth every penny” by market participants, based on the general market outlook, and that are worth buying.
Bitcoin (BTC)
Bitcoin has shown a 160% increase since the beginning of 2023, surpassing the very important $43,000 level. However, it may not be too late to benefit from the rally, considering the upcoming block reward halving event (April 2024) and the potential approval of a spot Bitcoin exchange-traded fund (ETF) that could follow the rise.
Currently, the largest crypto is priced around $43,000, with an increase of over 5% in the last 24 hours. Data shows that BTC has risen by 2.63% in the last 7 days and 17.64% in the last 30 days.
Ethereum (ETH)
The largest smart contract platform and the biggest altcoin, Ethereum (ETH), has also recorded significant gains in 2023. Starting the year below $1,200, ETH has managed to rise above the $2,000 level. According to data provided by the on-chain data platform Into The Block, currently, three out of four ETH investors are in profit. Nevertheless, the absence of heavy selling pressure indicates that investors have high confidence in the asset and optimistic future expectations.
ETH is currently trading at $2,233, up 4.82% for the day. Data indicates that the altcoin king has risen by 0.35% in the last 7 days and 14.21% in the last 30 days.
Cardano (ADA)
Another major cryptocurrency that has recorded significant gains throughout 2023, led by Bitcoin, is Cardano (ADA). According to data from Defi Llama, the total value locked (TVL) on the Cardano Blockchain briefly reached $444 million and is currently at $420 million, continuing to show an upward trend.
At the time of writing, Cardano’s ADA is trading at $0.5922, up 7.11% in the last 24 hours. The altcoin’s price has dropped by 0.90% in the last 7 days but has risen by 57.04% in the last 30 days.
Considering everything, the cryptocurrencies listed here, especially due to their previous increases, have a high chance of continuing their price rises in the coming year, making them some of the best cryptocurrencies to buy in January 2024.
