In 2024, the stock and crypto markets presented significant opportunities for gains. Beyond established projects, new ventures and overlooked altcoins offered potential for exponential returns.
However, SEC approval of Bitcoin (BTC-USD) spot ETFs has marked a crucial point in the 2024 cryptocurrency landscape. Amid this recent market recovery, it paves the way for investment opportunities. Additionally, it potentially draws traditional institutional market participants into the crypto sector.
Following are recommendations into lesser-known cryptocurrencies with substantial growth potential in the rebounding market. They each offer unique opportunities for significant gains in the upcoming year. Therefore, explore the altcoins poised for remarkable gains in 2024 to seize these opportunities.
Aptos (APT-USD)
Founded in October 2022 by Avery Ching and Mo Shaikh, Aptos (APT-USD) is a Layer-1 blockchain prioritizing scalability and safety. It employs the AptosBFT consensus mechanism using the Move smart contract programming language. Also, this enables parallel execution with Block-STM for enhanced throughput of up to 160,000 transactions per second (tps).
Aptos’ modular approach to transaction processing ensures high throughput and low latency. It encompasses components like smart contract execution, consensus, parallel processing, client interfaces, and validator management.
Next week, Aptos will unlock 24.84 million APTs, totaling over $260 million, constituting 8% of the circulating supply. Core contributors and investors will also receive shares. Further, core contributors will get 11.88 million APTs (4% of the market cap) and investors will receive 8.42 million APTs (about $88.5 million). APT tokens (3.21 million) went to the community, with an extra 1.33 million to the Foundation. Circulating supply stands at 308 million, and market cap is at $2.8 billion. Santiment’s chart noted a peak volume of $700 million on January 5th, the highest in five months. Current volume is over $370 million.
Basic Attention (BAT-USD)
Basic Attention (BAT-USD), fueling the Brave browser, rewards users for ad views. Boasting 50+ million monthly users and a role in DeFi, BAT’s value and adoption potential grew. Native integrations into platforms like Reddit and Discord, with chatbots facilitating user rewards, contribute to sustainable tokenomics and a clear value trajectory.
Also, BAT rewards Brave users for viewing ads. Clearly, this is an inventive method to attract users from Google. A notable advantage of BAT is its promotion of advertising on Brave, known for prioritizing user privacy. Brave claims to be three times faster than Chrome. It features ad blocking and tracking functions, making BAT a logical choice for users aiming to distance themselves from Google.
The launch of its browsing assistant, Leo, sparked increased interest. Despite challenges in 2023, BAT’s price predictions varied, with projections ranging from 36 cents by 2023-end to $3.32 by 2030.
VeChain (VET-USD)
VeChain (VET-USD) stands as an undervalued cryptocurrency, distinct from XRP, focusing on traceability solutions. By assigning unique identifiers to products, it enhances efficiency and traceability in the supply chain. So, this proves its real-world utility with blockchain technology for improved business outcomes.
VeChain operates on VechainThor, where VET handles value and transfers, and VTHO covers network costs, forming an efficient duo. Renowned for enhancing transparency and efficiency, VeChain aligns with U.N. sustainable goals, addressing real-world issues.
Professor Qi Ge, from VeChain, collaborated with a classic car restoration company, showcasing the VeChain logo on iconic cars like the Shelby Cobra. This wasn’t just for aesthetics though. But it’s also a green makeover documented in a 2024 TV series. In 2024, a tech upgrade is underway. This includes the VeWorld wallet with features like a dApp browser, Coinbase gateway, and NFT viewer.
Overall, each of these smaller-cap cryptocurrencies carry outsized risk. But for risk-tolerant investors seeking outsized returns, these are three projects worth keeping on the watch list right now.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.