The cryptocurrency market is constantly evolving and altcoins often steal the spotlight from their well-known counterparts, Bitcoin. As we enter 2024, experts in this space have identified several altcoins with significant potential. Two well-known names in the crypto industry, Miles Deutscher and Michaël van de Poppe, shared their opinions, highlighting the top contenders for this year. Cryptos such as ARB coin and Optimism attracted attention.
Best coins for 2024: ARB coin, OP also available
Miles Deutscher’s top five picks cover a variety of altcoins, each with unique strengths and potential growth catalysts. Starting with Arbitrum (ARB) and Optimism (OP), Deutscher highlighted these altcoins’ connections to the upcoming Ethereum EIP-4844 upgrade, which promises lower fees and improved competitiveness. According to Deutscher, this network upgrade could lead to increased adoption and increased values. Deutscher said the following:
The EIP-4844 upgrade will reduce fees on Ethereum layer 2s by an order of magnitude… If you were paying $2 for an LP deposit on Arbitrum, you can now only pay 5 to 10 cents. So it will definitely be an adoption catalyst for tier 2s because it makes them cheaper and more competitive to use.
Another of Deutscher’s picks, dYdX (DYDX), stands out for its role in the decentralized exchange (DEX) narrative. Its move to its own chain on Cosmos (ATOM) and its strong fee generation capacity, reaching a total of $36 million in the last 180 days, position it as a lucrative investment option.
Celestia is also on the lists
Celestia (TIA) is the third choice, praised for its modular blockchain structure that allows various components to be stacked on top of each other, such as layer 2 solutions and other blockchains. According to Deutscher, this flexibility has attracted many new applications and distributions. Thorchain (RUNE) is Deutscher’s fourth choice and is praised for its unique mechanism that facilitates cross-chain liquidity. It is a decentralized solution for direct exchange of assets such as Ethereum and Bitcoin, and this feature is increasingly in demand.
Finally, Frax Share (FXS) tops Deutscher’s list. With its multifaceted approach, including a lending protocol, an upcoming layer 2 chain, and a strong team behind it, Frax Share is a well-rounded investment in the DeFi space.
Van de Poppe list is different
Michaël van de Poppe took a different approach. He focused on both established and emerging altcoins to avoid unnecessary risks. Ethereum (ETH) tops his list not only because of its potential to outperform Bitcoin, but also due to anticipated developments such as the spot Ethereum ETF and the deflationary Proof-of-Stake (POS) system. Poppe explained that Ethereum is “undervalued” but has the potential to “generate a higher return in the coming period.”
Also on Poppe’s radar, Arbitrum and Optimism are known for their promising trends and potential high returns as part of the Ethereum ecosystem. He recommended a dollar-cost averaging strategy for these assets, considering their current market positions. Chainlink (LINK) is another key player in Poppe’s portfolio due to its role in the DeFi, RWA and NFT sectors and its potential to rebound after a long bear market. Finally, a developing project Sui (SUI) completes Poppe’s list. Sui represents an investment in a competitive environment against Ethereum. According to Poppe, it could reflect the successful trajectory of projects such as Phantom and Avalanche in 2021.
These expert opinions paint a diverse picture of the altcoin market for 2024. Then, it highlights projects that stand out with their technological innovations and strategic positions in the crypto economy. Investors who want to diversify their portfolios can consider these altcoin suggestions. Indeed, each offers a unique blend of potential and performance in the cryptocurrency market.
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