5 Crypto to Accumulate Before 2024 Bull Run
Crypto markets have begun December with a bang, with Bitcoin already up roughly 15% since the start of the month.
Expected near-term spot Bitcoin ETF approvals, the upcoming Bitcoin halving and a growing macro narrative that the US Federal Reserve is on the brink of a so-called “dovish” policy pivot have got investors buying the world’s largest cryptocurrency by market cap out of panic that they might miss out.
But aside from Bitcoin, which many experts are predicting could vault to new record highs in 2024, there are a great many other cryptocurrencies that investors would do well to load up on ahead of 2024’s expected bull market.
Here are a few that the team at Cryptonews.com are bullish on.
Bitcoin Minetrix ($BTCMTX)
An exciting new decentralized Bitcoin mining protocol called Bitcoin Minetrix is generating a lot of hype, and has already raised close to $5 million in funds from early investors into its $BTCMTX token presale.
$BTCMTX is the token that powers the protocol – investor who buy $BTCMTX can then stake their tokens to start earning non-transferable Bitcoin Minetrix mining credits.
These credits can then be burnt by their owners, and in exchange, they will get a share in Bitcoin Minetrix’s Bitcoin mining revenues.
$BTCMTX token holders will also earn $BTCMTX rewards, with a portion of the token supply already set aside to reward early stakers.
Bitcoin Minetrix’s protocol is governed by smart contracts built on top of the decentralized Ethereum blockchain, which is also where its token is issued.
The protocol thus offers better transparency and security versus other centralized cloud mining services.
The second largest cryptocurrency by market capitalization, Ether (ETH) has been in Bitcoin’s shadow for most of 2023.
Where BTC is up over 165% year-to-date, ETH is up a still impressive, but comparatively much lower 90%.
But Ether could be the beneficiary of a number of similar bullish themes as Bitcoin in the coming year.
Major asset managers recently began filing spot Ethereum ETF proposals in the US, so Ether should benefit from bets on institutional adoption.
Moreover, while Bitcoin’s inflation rate is set to halve in April, the Ether supply has once again turned deflationary.
As per ultrasounds.money, Ether’s supply growth rate was last around -0.66% YoY, thanks to an uptick in on-chain activity, which has pushed up gas fees and increased the cryptocurrency’s burn rate.
The more on-chain activity picks up, the more Ether’s deflation rate could increase, and on-chain activity normally does spike during bull markets.
Last just under $2,300, Ether remains over 50% below its all-time highs from 2021 around $4,900.
The cryptocurrency could enjoy a lot of upside in 2024 and is a good one to stack right now.
Meme Kombat ($MK)
Another exciting new presale that has been generating a lot of hype recently has been for a crypto start-up called Meme Kombat.
Meme Kombat blend together the world of crypto gaming and gambling with its exciting platform were users are able to bet on the outcomes of exciting battles between characters based on some of the crypto world’s most popular meme coins.
Early $MK investors can also benefit from generous staking rewards, which are currently more than 100% annually.
The project has already raised over $2.5 million, despite launching just weeks ago.
Ethereum rival Solana’s SOL cryptocurrency is a higher beta play than Ether, offering bigger potential upside, but also bigger potential downside.
But as the bull market takes hold and on-chain activity suggests Solana usage remains high, SOL price risks seem tilted strongly to the upside.
While few would want to put their entire portfolios into SOL, it could be a great diversifier that could bring up average portfolio returns.
An exciting Telegram-based crypto gambling upstart called TG.Casino is taking web3 by storm.
2023 has been a big year for crypto gambling, with protocols like Rollbit seeing explosive user growth, and the platform’s native token also seeing big upside.
But the barriers remain high for non-crypto native users to bet using these platforms, given they need to navigate complicated concepts such as setting up, connecting and working with crypto wallets.
TG.Casino intends to do for crypto gambling what Unibot did for advanced crypto trading – simply things with Telegram automation, whilst putting crypto gambling at the fingertips of Telegram’s 700 million (and rapidly growing) userbase.
TG.Casino is conducting an exciting presale to fund platform growth and has already raised over $3.4 million via the sale of its native $TGC token.
Early investors are already making yields in the region of 170% (thanks to rewards specifically set aside for $TGC token stakers – all tokens bought in presale are automatically staked).
While this yield will fade over time as more money pours into the presale, $TGC holders will also benefit from TG.Casino’s planned token buyback scheme, which will provide passive income to $TGC token stakers and raise the token’s price through token burns.