Top Cryptos to Buy in March 2024

Cryptocurrencies are back after a long winter. In the next 24 to 36 months, crypto assets will increase 50 to 100 times. This is not uncommon for altcoins during bull markets. Therefore, even a 10% to 15% portfolio exposure to cryptocurrencies is likely to have a significant impact on the overall returns of all asset classes. This column will discuss the best cryptos to buy and hold during the bull market.

An important point is that the price of gold has risen to over $2,150 per ounce. Gold appears to be pricing in possible rate cuts in 2024. This is relevant here because an expansionary monetary policy would encourage risk-taking trading. This will likely lead to a larger rally in cryptocurrencies.

It is also worth mentioning that there are global crypto users up 34% year-on-year to 580 million in 2023. If this growth continues, there will be strong demand for some of the top cryptos. With an overall bullish outlook, let’s talk about three top cryptos you can buy to earn multi-bagger returns.

Bitcoin (BTC)

Bitcoin (BTC USD) can be compared to a blue chip stock. For all crypto investors, Bitcoin is a name that belongs to the core portfolio. The cryptocurrency is up over 200% in the last 12 months. In my opinion, this is just the beginning of the rally.

Earlier this year, the Bitcoin spot ETF was approved, which is likely to be a major catalyst for the long-term uptrend. Some investors would feel relatively safer owning a Bitcoin ETF than owning the crypto asset. The introduction of the ETF would therefore lead to greater acceptance.

Additionally, Bitcoin’s halving comes as the reward for producing a block is expected to drop from 6.25 BTC to 3.125 BTC. During previous halvings, Bitcoin has skyrocketed. It wouldn’t surprise me if Bitcoin trades above $100,000 after the halving.

I must add here that Cathie Wood of ARK Invest believes that Bitcoin may increase to $1.5 million by 2030. The target may be high, but it is likely to be taken into account given the limited supply and increasing adoption of cryptocurrencies worldwide.

Ethereum (ETH)

ether (ETH-USD) has changed significantly in the recent past, with an increase of 65% since the beginning of the year. I believe that Ethereum’s returns will likely match those of Bitcoin over the next five years.

To start off, it’s worth noting that an Ethereum ETF is imminent. After the Bitcoin ETF, it could be a matter of time before the Ethereum ETF hits the market. This is a big catalyst for an uptrend in ETH, possibly in the second half of 2024.

An important point is that with the Ethereum merger, a 99% reduction in the energy costs of processing Ethereum transactions was expected. With the likely ETF, Ethereum could be in the focus of targeted investors Blockchain focused on sustainability.

When the Ethereum merger was completed, Vitalik Buterin stated that Ethereum development was only 55% complete. Therefore, some big developments are expected in the next few years. The upcoming development is likely to be the Dencu upgrade. This development will “focus on improving rollup-centric scaling through data sharding, known as Danksharding.”

Zilliqa (ZIL)

Zilliqa (ZIL-USD) has been on my radar for a while. However, ZIL remained depressed despite Bitcoin’s rise. This appears to have changed and ZIL is up 75% in the last month. The ZIL token can deliver 10x returns in the next few quarters.

At a glance, Zilliqa is the world’s first sharding-based blockchain. Sharding involves breaking transactions into smaller groups and distributing them among miners for parallel transaction verification. This results in faster transactions and Zilliqa has significantly lower transaction costs than Bitcoin and Ethereum.

It is also worth noting that the ZIL token has a strong use case. For platform services, ZIL is required for decentralized apps built on the Zilliqa network. Therefore, the demand for tokens will increase with the increase in dApps. ZIL is currently also offering an attractive offer APR of 10.34% for deployment.

At the time of publication, Faisal Humayun 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, subject to those of InvestorPlace.com Publishing Guidelines.