The cryptocurrency market is witnessing a significant shift, marked by recent positive developments in Bitcoin ETF applications. BlackRock and WisdomTree have filed updated S1 amendments that show a strategic move towards a cash-only approach for Bitcoin ETFs. Amid these changes, cryptocurrencies such as Chiliz (CHZ), Bonk (BONK), VeChain (VET), Hedera (HBAR), Dogecoin (DOGE), and ScapesMania are emerging as the potential top “penny” cryptocurrencies to invest in for 2024 . The most notable thing about these potential winners is that they allow you to enter the world of crypto investing even if your budget is very small. Unlike stocks, bonds or ETFs, cryptocurrencies are very investor-friendly and you can start making money with $1 or less. Today we have selected the most promising cheap cryptocurrencies for investing in the future according to various criteria.
“penny” cryptocurrencies to invest in 2024
- ScapesMania: A new and promising player in the gaming-focused crypto market.
- Chiliz (CHZ): A leader expanding the blockchain ecosystem in SportFi.
- Bonk (BONK): A rapidly growing meme coin that is volatile in the market.
- VeChain (VET): Showing steady growth by providing blockchain solutions for supply chain management.
- Hedera (HBAR): Focus on staking and tokenization supported by strategic partnerships.
- Dogecoin (DOGE): A leading meme coin with market recovery potential.
ScapesMania: A rising star in the crypto world
In current market conditions, ScapesMania emerges as an attractive opportunity for early adopters. This groundbreaking project has raised more than $2,110,000 from the individual investor sector alone, consistently providing $51,000-$92,000 in funding on a daily basis.
ScapesMania highlights
ScapesMania is no ordinary crypto asset; It is a vibrant gaming ecosystem that caters to the interests of both casual gamers and crypto-savvy audiences. It is already generating interest on major tracking sites and is in talks to list it on major exchanges.
Pre-sale opportunities
The price of ScapesMania during the early bird pre-sale phase is $0.004568. With the list price set at $0.01 per coin, early backers could be looking at a potential return of 2.2. With today’s 60% discount, ScapesMania tokens are an opportunity not to be missed. The price will increase as each subsequent sale phase progresses, reaching $0.01 per token once the pre-sale ends. Now might be the time to join the ranks of ScapesMania owners.
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Chiliz (CHZ): Developing SportFi and fan tokens
Chiliz (CHZ) has had a transformative year, celebrating its fifth anniversary with significant success in the SportFi industry. The launch of its own layer 1 blockchain, Chiliz Chain, has been a pivotal development, supporting a variety of SportFi use cases such as NFT minting, Fan Tokens and web3 ticketing. The establishment of a $50 million Chiliz Labs program to implement promising blockchain projects in sports and the acquisition of a 20% stake in MatchWornShirt further underscore the growth. Chiliz Chain recorded more than 3 million transactions in 2023, generating $437 million in revenue for the sports industry.
Bonk (BONK): A well-performing meme coin
Bonk (BONK) has seen a remarkable increase recently, with a monthly increase of approximately 750%, outperforming other popular meme coins. This increase created a bullish sentiment among traders and investors. Bonk (BONK) price dynamics are affected by its position as a memecoin operating in the Solana ecosystem. The recent listing of Bonk (BONK) on major exchanges such as Coinbase and BNB, which announced zero-fee trading, has significantly impacted the market performance. The future of Bonk (BONK) depends on its ability to maintain the momentum from recent listings and market movements.
VeChain (VET): Significant growth on the way
VeChain (VET) has been in a continuous uptrend, with its 30-day growth rate exceeding 45%. Analysts have drawn parallels with pre-bull models from the last cycle to set ambitious targets for VeChain (VET), including a 150% surge by the end of January. VeChain (VET) price is influenced by unique blockchain solutions for supply chain management and enterprise IoT. Increasing adoption of its technology across various industries and positive market sentiment are contributing to price dynamics. VeChain (VET) is expected to continue its upward movement, potentially reaching new highs.
Hedera (HBAR): Strengthening strategic partnerships
HBAR Foundation and Archax have expanded their partnership by focusing on Hedera (HBAR) staking and tokenization projects. Following this announcement, Hedera (HBAR) showed a bullish trend with a noticeable increase in its price. Hedera (HBAR) price reflects its growing ecosystem and recent partnership expansions. The network’s role in tokenization projects and staking options contributes to market attractiveness and price performance. The future of Hedera (HBAR) looks promising. Focusing on staking and tokenization can attract more users and investors.
Dogecoin (DOGE): Rallying with meme coin volatility
Dogecoin (DOGE) showed a mix of bullish and bearish signals. On-chain data shows that buy orders now exceed sell orders on major exchanges. This could signal a potential price recovery for Dogecoin (DOGE). Dogecoin (DOGE) price is heavily influenced by its status as a leading meme coin and community support. The balance between buy and sell orders on exchanges plays an important role in price dynamics. Looking ahead, Dogecoin (DOGE) may experience a rebound in price if current demand continues.
Conclusion: “Penny” cryptocurrencies become major players
As we approach 2024, the cryptocurrency market is going through a transformational phase and several penny cryptocurrencies are emerging as major players. This shift is largely influenced by the evolving landscape of Bitcoin ETFs and broader acceptance of cryptocurrencies across various industries. ScapesMania is making a splash as a new entrant in the lucrative gaming industry, strengthening it with innovative revenue models and a safe environment. He looks like the most exciting option in today’s squad.
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