3 High-Growth Cryptos Worth Buying for a Late 2024 Surge

Investing in high-growth cryptos certainly offers investors great upside potential. Of course, this advantage comes at a price. Smaller and less established projects can skyrocket due to hype or some non-fundamental catalysts. And the reality is that many of these projects will not survive in the long term.

However, there are also many high-growth cryptos to consider outside of the small-cap space. In this article, I have selected three projects that could offer very reasonable returns to investors looking for consistent long-term gains. Given the recent catalysts we’ve seen related to spot ETF approvals, meme rallies and other speculative activity in the space, here are three projects I would focus on now for those looking to capture some of that upside want to use.

Solana (SOL-USD)

A project known as ether (ETH-USD) alternative, Solana (SOL USD), is now excelling in the NFT and DeFi space. This Layer 1 crypto network features superior transaction speed, reaching over 50,000 transactions per second compared to ETH, which can only process 15-20 per second.

Solana’s mobile crypto strategy, based on the Saga phone, aims to attract new users with unique apps and experiences. Although initially slow, a marketing push driven by meme coins has boosted sales growth. VanEck predicts that a “killer app” could boost Solana’s value to over $3,200 by 2030.

Most crypto investors are already aware that the SEC recently approved the first spot price Ether ETFs. Now, many experts suspect that future spot approvals for Solana ETFs could be in the works since the Proof of Stake (PoS) consensus of both projects is similar. This precedent suggests that the SEC views Ether as a commodity, which may benefit the spot Solana ETF bull market. I think this catalyst alone (aside from organic network growth) easily makes Solana the high-growth cryptocurrency to buy right now.

Avalanche (AVAX-USD)

avalanche (AVAX-USD) provides cost-effective support for decentralized applications and smart contracts. The project’s recent Durango upgrade with the Teleporter platform, which enables seamless blockchain data exchange, increased Avalanche’s AVAX token by 50% within a short window of time.

During a turbulent period in the crypto market, Avalanche has proven its resilience. Despite Bitcoin’s decline to around $71,500, Avalanche has stood out by pushing above its 20-day exponential moving average. Since the token has seen a small decline recently, many technical experts believe that now is the time to start building a position.

Investors should consider Avalanche’s subnet infrastructure as the main reason to purchase and hold this cryptocurrency for the long term. But if the short-term technical charts suggest that now is the time to buy, I better at least draw the reader’s attention to what others are saying on the subject (I am by no means a technical expert).

Jupiter (JUP-USD)

Jupiter (JUP-USD) has been one of the more volatile tokens on the market since its launch earlier this year. Jupiter, a very early-stage swap aggregator based on Solana, has quickly become a DeFi giant. The project pools liquidity from multiple DeFi platforms, providing efficient token swaps. The project’s recent inclusion has exceeded the expectations of most in the field, with Jupiter briefly surpassing it Umniswap (UNI USD) as the largest DEX by volume for a given period.

It’s certainly possible for this trend to continue, and if it does, this project could have significant upside potential. The catch is that it’s certainly the youngest choice on this list, so there are heightened risks with this project in almost every way.

This is certainly a speculative choice for those seeking access to the high-growth world of decentralized crypto trading, but it would be my best option at the moment.

At the time of publication, Chris MacDonald did not hold, directly or indirectly, any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author and are subject to InvestorPlace.com’s publication policies.