Cryptocurrency prices are down, and this, to a large extent, is driving investors to the edge. Although Bitcoin price has relatively remained suppressed since the halving in April, most altcoins to buy are bearing the brunt.

For investors eyeing to grow their crypto portfolios to over $1 million in 2024, narrowing down to the best altcoins to buy is the toughest uphill battle. However, CoinGape’s expert-picked list may be a starting point. Conducting further research before deciding to buy any crypto token is paramount.

1. Tops Altcoins To Buy -Ethereum

Diversifying the altcoins to buy portfolio requires careful planning. As the largest altcoin with a market value of $358 billion and changing at $2,987, Ethereum earns a place in this portfolio.

The transition from a proof of work (PoW) consensus mechanism to a proof of stake (PoS) continues to open the Ethereum network to new opportunities. Investors can now stake ETH to participate in validating transactions and keep the network secure. By doing so, they earn rewards in the same coin, thus increasing their holdings.

The emergence of liquid staking protocols like Lido DAO allows stakers access to liquidity.

Ethereum currently sits 38% below its all-time high of $4,878, CoinGecko data shows. As the second largest crypto, Ether is one of the most traded digital assets and therefore, extremely liquid.

Ethereum price weekly chart

Compared to other altcoins, Ethereum exhibits stability similar to that of Bitcoin. This reduces the volatility of the crypto portfolio thus helping to manage risk.

2. dogwifhat (WIF)

The meme coin craze is far from over, with tokens in this sector, and immense potential. Meme coins particularly in the Solana ecosystem have become gems, as investors seek a piece of the cake.

Dogwifhat (WIF), has within a short time become very competitive, achieving a new all-time high in Q1. It boasts a huge social following often boosting price movement.

After rising to $4.85 on March 1, from an all-time low of $0.067 in January, WIF gained a lot of attention from investors eyeing quick gains.

Being a meme coin, dogwifhat is among the most volatile cryptos in the market. Hence, investors must make calculated decisions when using it to diversify portfolios.

WIF price weekly chart

WIF hovered at $2.89 on May 8 after its value depreciated by 12.30% in 24 hours. The crypto market has been experiencing doldrums in recent weeks, with most tokens struggling to find direction.

3. Solana

Smart contracts tokens like Solana were developed to provide alternative platforms for decentralized applications. Investors saw their potential as Ethereum ‘killers’ solving important challenges such as network congestion and high transaction costs.

Solana suffered the brunt of the FTX implosion dropping to $8 from a record high of $260. While the narrative was that the ecosystem was dead and SOL might not recover.

Solana price chart

Surprisingly, Solana made a splendid recovery in the last two quarters rising to $209 in March this year. Due to the current headwinds in the market, Solana trades at a massive discount from this level, at $146, and is worth having the altcoins to buy portfolio.

4. Polygon (MATIC)

The Ethereum ecosystem offers various technologies that help to advance the network. Polygon and other layer 2 protocols work on top of Ethereum blockchain, allowing for faster and cheaper transactions, later confined on the mainnet.

Polygon price chart

Polygon has a market value of $6.3 billion, ranking #20 among other cryptos. Following an all-time high reached in 2021 at $2.92, MATIC , is offering a 76% discount. In the last 24 hours, the token has lost 4% of its value to $0.678.

5. Hedera (HBAR)

Hedera is a token known for contributing to the decentralized crypto economy as an enterprise-grade public network. Developers creating powerful decentralized applications (dApps) find the system very stable.

Based on CoinMarketCap data, HBAR hovered at $0.1088 on Wednesday, down 3% in 24 hours. From the all-time high of $0.56, Hedera gives an 81% discount.

The post 5 Expert-Picked Altcoins To Buy To Achieve $1 Million Crypto Portfolio appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am