The Crypto Watchlist: 3 Names That Could Steal the Show in 2024

The crypto market has once again moved higher. If the overall economy and the stock market meet expectations and continue to grow, we could potentially see the next upswing in the next few months. This would undoubtedly increase the value of important cryptocurrencies such as Bitcoin (BTC USD). However, certain altcoins could very well steal the show Solana (SOL USD) did it last cycle.

There are currently many new projects offering eye-catching blockchain technology. And in my opinion, some of them could make significant profits. The crypto space is known for its volatility, and as the saying goes: “The greater the risk, the greater the potential reward.” It might be a good idea to buy up some of these cryptos before the next surge as they tend to outperform in bull markets achieve.

Dione Protocol (DIONE-USD)

Dione protocol (DIONE USD) has yielded significant returns since I first discussed this emerging project. I believe that if the Dione team continues as they are doing, this could definitely be one of the best performing cryptocurrencies in this cycle.

The Dione Protocol is evolving Odyssey, a Layer 1 blockchain solution that works exclusively with renewable energy sources. It ensures that all transactions and processes make a positive contribution to sustainability goals. The emissions caused by Bitcoin mining (and blockchain projects in general) represent a serious problem that governments need to address, as proof-of-work blockchains consume a lot of energy.

Dione Protocol is also working on Nebra, a peer-to-peer renewable energy marketplace. The token’s price performance has been outstanding so far, but I think there is more upside potential as the project’s market cap still stands at $146 million at the time of writing.

Kaspa (KAS-USD)

Kaspa (KAS-USD) was definitely one of the top dogs in this cycle. Since I first featured it in an article, this cryptocurrency has also made huge gains. The market capitalization of this project has now exceeded the billion mark and is at $3.1 billion Final check.

Kaspa is a blazingly fast Layer 1 cryptocurrency with promising technology. The project’s KAS token has gained 753% so far this year, in large part due to Kaspa’s status as one of the fastest Layer 1 blockchains. It essentially allows multiple blocks to be executed in parallel, allowing for very fast confirmations. However, I would like to note that this crypto project has some disadvantages.

Kaspa is currently just a transaction-focused cryptocurrency. It brings interesting technologies to the market, but unless smart contracts are implemented one day, there is a good chance it will die out soon Nano (XNO-USD) in the coming cycles. However, I think the likelihood of such a scenario is low, as Kaspa has much better marketing and a more active development team.

Injective (INJ-USD)

Injective (INJ USD) is another crypto project that had an explosive start to the year. The price has cooled somewhat from its peak price of $48 to the current price of $27 at the time of writing, but I think momentum could pick up again.

This project is primarily focused on the world of decentralized finance (DeFi). Injective is a very fast blockchain that is attracting a lot of attention and could attract developers to the ecosystem. This is primarily why I think it could “steal the show” and deliver parabolic returns if or when peak season arrives.

The DeFi space is likely to see an explosion in volume and interest once peak season arrives and money flows into various tokens on many chains. That said, Injective has a lot Market cap of $2.5 billion at the moment. But if the offseason goes as advertised, I think this is a project that could reach a market cap of $10 billion or more. Injective is definitely one of the best DeFi cryptocurrencies currently available.

At the time of publication, Omor Ibne Ehsan 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.