The Top 9 Cryptocurrencies Expected To Soar In The 2024 Bull Run

If you were looking for the true application of the phrase “change is constant,” look no further than the crypto world. In fact, this is at the very core of its reputation, and it either draws in people or turns them away — but hey, you’re here, which means you’re invested and looking to participate in the bull run this year. Sit tight; here are the coins that are poised for significant growth this year, in no particular order:

1. Bitcoin (BTC)
2. Ethereum (ETH)
3. Binance Coin (BNB)
4. Polkadot (DOT)
5. Solana (SOL)
6. Chainlink (LINK)
7. Cardano (ADA)
8. Avalanche (AVAX)
9. Polygon (MATIC)

If you are ready to dive in and take some high-risk, high-rewarding investments, keep reading to discover the nine crypto coins you want to add to your investment portfolio for the next crypto bull run. And if you’re unfamiliar with the term “Bull Run,” here’s an overview first. 

What is a Bull Run?

What Is a Bull Run?

If you’re new to cryptocurrencies, you may have heard the term “bull run” thrown around but aren’t quite sure what it means. Essentially, a bull run is when the market experiences a sustained price increase, often fueled by increased demand from investors.

During a bull run, the overall sentiment in the market is positive, and investors are more willing to take risks and invest in high-risk, high-reward assets like cryptocurrencies. This increased demand often leads to a snowball effect, where prices continue to rise as more and more investors enter the market.

Bull runs can last varying periods, from weeks to months. And while they can be incredibly exciting for investors, it’s important to remember that bull runs can also be followed by periods of significant price corrections, commonly known as bear markets.

So, why do bull runs happen in the first place? Many factors can contribute to a bull run, including:

1. Increased positive media attention
2. New technological developments
3. Increased adoption by mainstream institutions

Regardless of the specific factors at play, bull runs are generally seen as positive for the crypto market as a whole and a profitable season, as they bring increased attention and investment to the space.

Now that we’ve covered what a bull run is, let’s dive into the top 9 cryptocurrencies expected to soar in the 2024 bull run. 

9 Cryptocurrencies Poised for Significant Growth in the 2024 Bull Run

9 Cryptocurrencies Poised for Significant Growth in the 2023 Bull Run

1. Bitcoin (BTC)

Bitcoin’s being on the list is expected, especially as it’s a forerunner of the crypto market, setting the pace for others to follow. The outlook so far in the early days of January 2024 has been mostly positive — a big indication of the bull season. 

If you’ve been paying attention to the news, this wouldn’t surprise you when we’ve seen an increase in institutional adoption with major players like BlackRock and Goldman Sachs launching Bitcoin investment products. 

Though not official, this could be taken as an endorsement of cryptocurrency and influence many others to follow suit, possibly increasing Bitcoin’s worth this year. 

2. Ethereum (ETH)

Ethereum is next up on this list, not only because it is the second-largest crypto in the world but for very tangible reasons. Its successful 2.0 upgrade to the Proof-of-Stake (PoS) consensus mechanism is a major one. Leading to faster transactions, lower fees, and increased capacity — definitely attractive to developers and investors.

The Ethereum blockchain also hosts the most thriving DeFi and NFT ecosystems, and their success and growth is a ripple effect that will boost ETH’s position. Other innovative solutions are also taking off to enhance Ethereum’s user experience, like Layer 2 scaling solutions.

In addition, Bitcoin is not the only crypto getting some institutional interest, as Ethereum is also a candidate for top institutions testing the crypto world waters.  

3. Binance Coin (BNB)

BNB is high up as one of the coins with significant potential for investors in 2024. The coin is a product of Binance — the world’s largest crypto exchange — and it fuels Binance Smart Chain (BSC), a blockchain for DeFi, NFTs, and other Web3 applications. 

It is also used to access many services within the Binance ecosystem, such as Launchpad, staking rewards, and many more utilities. 

Another primary reason we’ll most likely see an increase in value is its quarterly token burn, where some of the BNB in circulation is removed to make it a scarce asset, thus increasing its value as its demand increases.  

4. Polkadot (DOT)

Polkadot is another blockchain platform that allows developers to build decentralized applications. Polkadot’s unique architecture sets it apart from other blockchain platforms, allowing for interoperability between blockchains. This could make it a more attractive option for developers who want to build dApps that can interact with other blockchains. Polkadot has a strong development team and community, which bodes well for its future growth.

Polkadot is also getting significant attention from institutions that recognize its potential. The most recent institutional investment came from Binance’s investment in Polkadot’s parachain slot. This could drive other “big” corporations to take due interest in Polkadot and increase DOT’s value.  

5. Solana (SOL)

Solana made my list last year, so I and many others were not shocked at its impressive performance. Solana made some crypto millionaires in the past year, seemingly on the same trend in 2024. 

It is designed to be a high-speed blockchain, set to outdo other blockchains by allowing the procession of thousands of transactions per second at low costs. Its potential exceeds crypto and blockchain and is applicable in the real world. Solana’s architect can potentially power real-time data platforms, supply chain management, and other complex challenges. 

6. Chainlink (LINK)

Chainlink is a decentralized Oracle network that provides real-world data to smart contracts on the blockchain. This is important because smart contracts rely on accurate and reliable data. If you thought Chainlink’s growth in recent years was impressive, just wait to see what it does in the 2024 bull run. This is mainly because of the increasing popularity of smart contracts and the growing number of use cases for Chainlink’s Oracle network.

7. Cardano (ADA)

Cardano is a blockchain platform making waves due to its innovative technology and unique governance model. It’s a popular choice for developers and investors because it uses a more energy-efficient proof-of-stake (PoS) algorithm and offers secure and scalable smart contract solutions for decentralized applications (dApps).

What’s really cool about Cardano is its active community of developers, researchers, and supporters. They’re all working hard to improve the platform and make it more decentralized and sustainable. Unlike other blockchain platforms, Cardano has a democratic and decentralized governance model that lets stakeholders vote on proposals for platform improvements and receive rewards for their contributions.

Cardano’s sustainable tech, active community, and unique governance model make it a promising cryptocurrency to watch in the 2024 bull run. If more people recognize its potential, we could see increased demand for its native token, ADA, and more adoption of its smart contract solutions.

8. Avalanche (AVAX)

This blockchain that offers customizable subnets and a diverse ecosystem also stands out as an attractive investment opportunity in 2024. Due to its unique combination of the Proof-of-Stake (PoS) and Proof-of-Authority (PoA) mechanisms, it can process over 6,500 transactions per second at low fees. 

Its ecosystem is also power-packed with DeFi protocols, NFT marketplaces, and a remarkable range of dApps across different industries. This attracts investors and developers alike, contributing to AVAX’s growth. 

Avalanche is also neck-deep in strategic partnerships to improve its acceptability in the market and highlight its potential. It has partnered with institutions like Deloitte and Cornell University to attract more investments.   

9. Polygon (MATIC)

This layer 2 scaling solution for Ethereum focuses on making Ethereum more scalable and user-friendly. Polygon has already seen impressive growth in recent years, and it’s expected to continue this trend in the 2024 bull run. This is due to the increasing demand for Layer 2 scaling solutions and the growing use cases for Polygon’s technology.

Frequently Asked Questions (FAQs) About Cryptocurrencies Poised for Significant Growth in the 2024 Bull Run

How do you know which crypto will go up?

Due to its unpredictable nature, cryptocurrency is one of the toughest investment options to give accurate value predictions on. The crypto market is extremely volatile and influenced by a number of factors. However, some ways to make informed decisions include Fundamental analysis, Market analysis, and Risk assessment.

What is the safest cryptocurrency?

Although safety and crypto do not go hand in hand, there are coins that pose way fewer risks than others. They are Stablecoins like Tether (USDT) or USD Coin (USDC) because their values are pegged to the US dollar, so they’re not as volatile, and their stability is driven by the backing asset. 

What are the signs of a crypto bull run?

Some of these factors must be satisfied to determine if we’re in a crypto bull run. They are:

1. Consistent rise in value
2. Higher and sustained trading volume
3. Positive market sentiment
4. Increased institutional investors
5. Technical indicators

Which crypto is best to invest in for the short term?

Opting for short-term investment or trading can also be highly rewarding with high risks. It is incredibly risky to speculate on short-term profits, but if your risk appetite is large enough, high-volatility crypto coins are the best coins to invest in. They are small and new coins with low market capitalization and get significant price fluctuations. These rapid fluctuations can be highly profitable and also lead to lots of loss. 

Ensure only to invest what you can afford to lose, always do your research, and be prepared to manage the risks that come with high-volatility coins properly. 

READ ALSO: How to Maximise Your Profits During The 2023 Crypto Bull Run