Top 6 Blue Chip Cryptocurrencies to Invest in 2024
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Blue chip stocks refer to an elite group of companies with a large market capitalization, impeccable financials, and outstanding reputation. A blue chip crypto shares these traits, making this asset group the leading investment in the crypto space.
The term blue chip has become synonymous with safety, and while blue chip cryptocurrencies can still see volatility, they typically represent a safer investment than smaller utility tokens or unpredictable meme coins.
While Bitcoin is the ultimate blue chip crypto, there are several other coins that are also worthy of making this list, including Ethereum, BNB, XRP, Chainlink and BNB. In this article, we detail what makes each of these cryptocurrencies qualify for the coveted ‘blue chip’ status, highlighting what their key use case is and why it is significant.
What is Blue Chip Crypto?
A blue chip crypto exhibits several key characteristics. First, the asset must have a large market cap; small trades won’t sway the price. Instead, the price becomes the voice of a broad market. blue chip coins are also well-established in the crypto space. Think of it as a proven ability to hold a leading market position.
Lastly, this elite group of digital assets must be well-regarded by the broader investment community. blue chips represent the best of the best, with proven tech and bulletproof security that’s unlikely to create downside surprises.
List of The Top Blue Chip Cryptos
First, let’s start with our blue chip crypto list. We’ll cover each in more detail in separate sections in just a bit.
- Bitcoin (BTC): As the first cryptocurrency to see wide adoption, Bitcoin remains the leading cryptocurrency by market capitalization.
- Ethereum (ETH): Ethereum introduced smart contracts with its launch in 2015. Today, ETH is the most used cryptocurrency and boasts the second-largest market capitalization.
- BNB (BNB): The BNB Smart Chain is a hard fork of the Ethereum project. The chain brings smart contract compatibility with lower transaction costs compared to Ethereum.
- Ripple (XRP): The XRP Ledger launched in 2012 and now forms the backbone of a worldwide cross-border payment platform.
- Cardano (ADA): Cardano is known for its stability and well-planned roadmap. The project’s founder, Charles Hoskinson, also co-founded the Ethereum blockchain.
- Chainlink (LINK): What began as a way to bring outside data to smart contracts has grown to become an ambitious project seeking to unite assets across blockchains.
Top Blue Chip Cryptos – A Closer Look
We have highlighted six cryptocurrencies as blue chips, including some of the largest crypto assets by market cap. A proven history of security and network reliability plays a role in blue chip status, eliminating some leading cryptocurrencies like Solana and The Open Network. Let’s review the six well-established crypto projects that are indisputable blue chips.
1) Bitcoin – The Original Cryptocurrency
Despite its reputation for volatility, Bitcoin remains one of the more stable cryptocurrencies in the space. The recent approval of several spot Bitcoin exchange-traded funds (ETFs) helps BTC reach a traditional investment audience that wants exposure to cryptocurrencies. The largest of these funds, BlackRock’s IBIT, now surpasses $20 billion in assets under management (AUM).
Bitcoin enjoys a unique story in the crypto investment community. The project launched in 2009 amid the Global Financial Crisis (GFC), promising an alternative to traditional fiat currencies. A fair launch with no presales or pre-mining helped Bitcoin grow into a worldwide, decentralized network.
Although Bitcoin launched as a peer-to-peer electronic cash payment system, many now see Bitcoin as a store of value due to its fixed maximum supply of 21 million bitcoins. Relatively high transaction costs on the network limit its utility for smaller transactions on the Bitcoin blockchain. However, Bitcoin’s price surged during high-profile bank failures in 2023, demonstrating its potential as a safe haven from traditional markets.
| Ticker | BTC |
| Maximum Supply | 21,000,000 |
| Price | $63,459.96 |
| Market Cap | $1.25T |
2) Ethereum – The Most Active Blockchain Network
Several new blockchains followed Bitcoin’s launch, but the most impactful of these was Ethereum. The Ethereum project sought to expand on blockchain’s promise with the introduction of Smart Contracts. These computer programs run on the network in the Ethereum Virtual Machine (EVM).
This innovation paved the way for today’s decentralized finance (DeFi) applications and set the stage for web3, a permissionless way to access web services and in-app economies.
At launch in 2015, the Ethereum network utilized proof of work to validate transactions, following a similar blueprint to Bitcoin. However, in 2022, Ethereum converted to proof of stake, an energy-efficient consensus method that preserves decentralization while substantially lowering energy usage.
Ethereum’s utility through smart contracts has made it more popular than Bitcoin by some measures. The Ethereum network now sees more than 1 million transactions daily compared to about 550,000 Bitcoin transactions per month.
| Ticker | ETH |
| Maximum Supply | Variable based on burn rate vs minted staking rewards |
| Price | $2,541.73 |
| Market Cap | $305.88B |
3) BNB – The Most Established CEX Coin
The BNB Smart Chain, formerly called the Binance Smart Chain, launched as a hard fork of Ethereum’s code in 2020. While the chain initially launched to support initiatives of the Binance crypto exchange, it has since become more decentralized.
BNB Smart Chain Chain quickly became a hub for DeFi applications due to its lower transaction cost compared to Ethereum. EVM compatibility made it easier for popular Ethereum apps to migrate to BNB. Similarities between the two chains also allow easy integration with popular Ethereum crypto wallets like MetaMask.
A streamlined validator network allows faster and cheaper transactions compared to Ethereum, with BNB tripling the real-time transactions per second (TPS) compared to Ethereum. However, BNB Smart Chain usage still lags when measured in dollars. Currently, BNB Smart Chain’s TVL represents 5% of TVL on all chains, compared to nearly 62% on Ethereum. Despite this disparity, BNB maintains a loyal following, and the BNB token has minted millionaires worldwide. The BNB token’s price benefits from both its utility and scarcity. Ongoing burn initiatives reduce the circulating supply.
| Ticker | BNB |
| Maximum Supply | 200,000,000 |
| Price | $571.41 |
| Market Cap | $84.33B |
4) XRP – Highly Innovative Crypto For Digital Payments
The XRP Ledger was launched in June 2012 as a more efficient alternative to Bitcoin. The project focused on digital payments, bringing fast, low-cost transactions. This led to a separate but related company called NewCoin. The company later rebranded to OpenCoin and finally to Ripple, now a well-known name in the cross-border payments space and one of the blue chip companies of crypto.
Ripple uses XRP as a settlement currency, allowing financial services providers to send money anywhere in the world instantly and convert the transfer back to a local currency upon arrival. Demand for the XRP token focuses on this growing utility as a settlement asset. However, the maximum supply was fixed at 100 billion coins. A small amount of this supply is burned with each transaction, causing XRP to be deflationary overall.
While XRP has been the center of legal controversy following an ongoing SEC lawsuit, it also benefits from being the first cryptocurrency determined by a court not to be a security when sold on secondary markets.
Ripple boasts a growing number of partnerships with payment providers, making XRP a unique crossover play that bridges cryptocurrency and traditional finance.
| Ticker | XRP |
| Maximum Supply | 200,000,000 |
| Price | $0.58 |
| Market Cap | $33.12B |
5) Cardano – Crypto Focussed on Solving Real-World Problems
Known for its unhurried and meticulous development, the Cardano project was co-founded by Charles Hoskinson, a co-founder of Ethereum and the face of the Cardano blockchain. The project was founded in 2015 but launched in 2017. Hoskinson’s goal was to have a company drive the initial development of the chain, a departure from community projects like Ethereum.
However, the project’s roadmap also includes decentralization to create a self-sustaining ecosystem. Cardano now supports smart contracts and can process transactions at up to 17 times the average speed of the Ethereum network.
Cardano also seeks to solve real-world problems rather than just on-chain speculation. Recent partnerships include World Mobile and the Minutes Network, tokenizing mobile communications.
Although Cardano’s market cap lags high-profile competitors like BTC, ETH, and BNB, many expect the chain’s native token, ADA, to outperform these other coins that have already seen higher gains.
| Ticker | ADA |
| Maximum Supply | 200,000,000 |
| Price | $0.35 |
| Market Cap | $12.88B |
6) Chainlink – The Leading Blockchain Oracle
Ethereum brought smart contracts to the world, but the information available to these smart contracts was limited to on-chain data. Chainlink changed that by bringing in data from the outside world using oracles. Now, smart contracts can use that additional information to manage much more complex logic and use data like real-world prices as triggers for actions.
Chainlink is already a dominant force in trusted data, but the company is broadening its horizons. Chainlink’s Cross-Chain Interoperability Protocol (CCIP) brings cross-chain data to blockchains. The initiative enables cross-chain messages, token transfers, and the use of assets across multiple chains. An asset on Chain A can be collateral for a lending contract on Chain B. CCIP also promises to tokenize real-world assets and connect traditional finance providers.
| Ticker | LINK |
| Maximum Supply | 200,000,000 |
| Price | $11.66 |
| Market Cap | $7.09B |
Is Buying Blue Chip Crypto Worth it?
Blue chip crypto coins offer more stability compared to smaller crypto projects. Although BTC, ETH, and other blue chips can still be volatile, they tend to lead the market rather than follow it. Price moves up or down are often less dramatic.
The introduction of spot ETFs for BTC and ETH brings these assets to a wider audience and could reduce volatility as more people hold these cryptos through funds.
However, many see a stronger upside for blue chip cryptos compared to blue chip stocks. Cathie Wood of ARK Invest sees Bitcoin rising as high as $3.8 million by 2030. Similarly, she sees ETH reaching a $20 trillion market cap by 2032. At the time of writing, BTC has risen by 104.62% over the past 12 months, and ETH has gained 79.53%. Other blue chips have also performed well. LINK saw gains of 131%, and BNB gained 39%, although XRP saw a smaller 2% gain in the past 12 months.
While some Bitcoin price predictions may prove optimistic, blue chip cryptos offer a way to gain exposure to the crypto market’s upside potential with reduced volatility compared to smaller crypto projects. However, crypto bear markets often cause the prices of these blue chip tokens to plunge further relative to traditional blue chip investments. Buying blue chip digital assets can be worthwhile, but prepare for some downside and allocate your exposure accordingly.
Advantages of Buying Blue Chip Crypto
Blue chips show less volatility relative to smaller cryptocurrencies but also bring some additional benefits. As mature projects, they offer proven security but also enjoy continued support through ongoing development. Let’s review some of the key advantages of buying blue chip cryptos.
- Higher Liquidity: Small-cap cryptos can be difficult to trade efficiently. Fewer holders and less price discovery can lead to wider spreads. Blue chips enjoy a larger market, making trading in or out more efficient.
- Reduced Volatility: Wild swings in price can wreak havoc on a portfolio, especially if you need to rebalance but prices are down. Blue chips can still be quite volatile compared to traditional investments but typically see smaller percentage moves compared to smaller altcoins.
- Network Effect: Bitcoin and Ethereum are now household names. The wide usage of these cryptocurrencies tends to lead to more adoption. For example, several projects have come from hard forks of Bitcoin. However, none of these alternatives have performed well against Bitcoin over a long period of time.
- Proven Security: One of the characteristics of blue chips centers around time. Blue chips have seen broad usage over a long period of time, giving plenty of opportunities to uncover potential flaws.
- Diversification: Blue chips offer an opportunity to diversify a broader investment portfolio while focusing crypto investments on a less volatile group of assets.
- Wide Availability: You can expect most crypto exchanges to support trading for blue chips. This allows you to trade in or out on your choice of platforms. Some are even available on By contrast, many smaller cryptocurrencies are only available on a handful of exchanges, making them more difficult to trade.
- Ongoing Development: Although blue chip cryptos are mature projects, each still has an active development community. For example, Ethereum recently launched the Dencun upgrade, which dramatically increased efficiency for Layer-2 networks like Base and Arbitrum.
Downsides of Buying Blue Chip Crypto
Blue chips bring some advantages but also come with some drawbacks compared to other altcoins. The biggest drawback centers on limited upside due to their significant market capitalization. Blue chips can still grow dramatically, but have already seen stratospheric gains. Other coins may see larger gains but may also bring greater risks.
- Limited Upside: $100 invested in Bitcoin in 2009 would be worth about $48 million by early 2021. However, those types of gains are unlikely in the future. Small cap coins may see more dramatic growth compared to mature blue chip projects. They may also be more likely to fade into obscurity.
- Targeting by Government Agencies: Leading cryptocurrency projects may be more likely to attract the attention of government regulators, possibly hurting the price. The SEC launched an investigation into the Ethereum Foundation in early 2024. Although the investigation has since been closed, the uncertainty caused prices ETH prices to fall.
- Missed Opportunities: A focus on blue-chip cryptos misses some of the most dynamic growth opportunities in the space. For example, TON, the native token for The Open Network is up more than 1,700% since 2021. As a relatively new project, most wouldn’t consider TON to be a blue chip, although it has outperformed all the blue chips during the same period.
How to Invest in Blue Chip Cryptocurrencies
Blue chip cryptos are available on most crypto major crypto exchanges. For example, you can buy ETH on Coinbase by following the steps below.
1) Open a Coinbase Account
to open an account. You’ll need to provide your name, address, email address, and phone number.
2) Verify Your Identity
Coinbase requires users to verify their identity to comply with Know Your Customer (KYC) regulations. Upload a clear copy of your driver’s license or other acceptable government-issued ID as instructed.
3) Choose a Funding Method
Coinbase supports several funding methods, depending on where you are located. Bank transfers offer the most cost-effective way to buy because there is no deposit fee.
However, deposits can take a few days to clear, and you may not be able to transfer funds off the platform before bank settlement. As alternatives, PayPal and debit card purchases allow instant buys where supported.
4) Choose an Investment Amount
Tap the blue Buy/Sell button to make an instant purchase with Coinbase Simple Trades. This method uses a spread to lock in a price quote and is well-suited to new buyers. Choose an investment amount for your purchase.
Simple Trades default to Bitcoin. Change the selection to Ethereum or whichever cryptocurrency you want to buy. You can also select your payment method at this step.
5) Complete Your Purchase
Next, tap on Review Order to see verify the details for your ETH purchase.
This tab allows you to check the details of your order, including trading fees. If everything looks good, click on Buy Now to complete your purchase.
That’s it. Coinbase can store your crypto purchases for you. However, many crypto investors prefer to move larger amounts to a self-custody crypto wallet.
Best Altcoin Alternatives to Blue Chip Cryptos
BTC, ETH, and other blue chips have seen jaw-dropping gains since launch and will probably continue to increase in value. However, growth going forward is unlikely to mirror these cryptocurrencies’ gains.
New cryptocurrencies may offer greater opportunities for investors seeking big percentage gains. This upside is one of the key factors to consider when curating your investment portfolio. You can consider adding a few newer projects to your portfolio alongside your blue chip tokens. This strategy gives you exposure to potentially outsized gains while maintaining a mix of proven projects that still offer upside potential.
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Conclusion
Blue chip cryptos include high-cap cryptocurrencies that are well-established, widely available, and battle-tested in the crypto market. This exclusive group includes leading cryptocurrencies such as Bitcoin, Ethereum, and Chainlink. Investing in blue chips gives you exposure to the crypto sector while limiting the risk often associated with crypto investments. However, even proven blue chips can be volatile compared to traditional blue chip stocks. Consider investing in crypto as part of a broader investment portfolio that includes traditional assets as well.
FAQs
What are blue chips in crypto?
Blue chips in crypto refer to a select group of assets that are well-tested, widely available, and enjoy broad adoption. This group includes BTC, ETH, BNB, ADA, and LINK.
Is Ethereum a blue chip?
Yes, Ethereum is considered to be a blue chip cryptocurrency. The chain launched in 2015 and now boasts the second-largest market capitalization in the crypto industry.
Is Solana a blue chip?
Although Solana enjoys a top-ten market capitalization, many would not label it a blue chip crypto because the chain is relatively new and has had some reliability issues.
Should I invest in crypto blue chips?
Investing in blue chip cryptos offers a way to gain exposure to the crypto market’s price action while also reducing the risk often associated with smaller crypto projects. However, diversification also helps reduce risk, so it’s wise to hold a mix of traditional assets alongside blue chip crypto assets if you choose to invest in crypto.
References
- Bitcoin ETFs Resume Inflow Winning Streak; BlackRock’s IBIT Crosses $20B in AUM (finance.yahoo.com)
- Bitcoin: A Peer-to-Peer Electronic Cash System (bitcoin.org)
- Bitcoin Climbs as US Bank Failure Bolsters Crypto Narrative (bloomberg.com)
- Number of daily transactions on the blockchain in Bitcoin, Ethereum and other cryptocurrencies from January 2009 to May 2024 (statista.com)
- SEC Charges Ripple and Two Executives with Conducting $1.3 Billion Unregistered Securities Offering (sec.gov)
- Ripple XRP Sold to Public Not Securities, Judge Says (bloomberglaw.com)
- Cathie Wood Raises Her Bitcoin Prediction by $2.3 Million (finance.yahoo.com)
- Holding 6 Ethereum (ETH) Could Make You A Millionaire, According to Cathie Wood (finance.yahoo.com)
- Bitcoin hits another record. Here’s how much you’d have if you invested $100 in 2009 (cnbc.com)
- SEC Ends Probe Into Consensys, Won’t Sue Over Ethereum (finance.yahoo.com)
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