Even though the global crypto currency market experienced both challenges and successes, in the first half of this year, discussion on a potential bull run has been in the horizon. Various digital assets are ready to attract considerable interest because of their latest advancements, market patterns, and distinct offerings.  Bitcoin, Ethereum and Solana, emerge as attractive options for investors looking to maneuver in the remaining months. Here, we explore the cryptos to watch in the second half of 2024, focusing on their potential and unique features.

1. Bitcoin (BTC)

Market Performance:

Bitcoin stands out as the first and leading cryptocurrency. The fourth Bitcoin halving completed in April 2024, in which miners saw their rewards reduced further. Just as it has been historically known, the scarcity of BTC as a result of the halving is expected to increase the price of the coin, because of high demand.

Over the past six months, the price of Bitcoin has soared by 45%, and in the past twelve months, it has skyrocketed to 103%.

Fundamentals:

The debut of Bitcoin spot ETFs in key markets marks a pivotal moment, increasing accessibility of Bitcoin to traditional investors. Potential introduction of Bitcoin ETFs in more countries may draw significant institutional investments.

Why Watch:

The decrease in Bitcoin’s supply after halving and increased institutional adoption via ETFs could lead to price growth in the second half of 2024. Continuing regulatory changes and worldwide economic factors will also impact the market behavior of Bitcoin.

2. Ethereum (ETH)

Market Performance:

Following the footsteps of Bitcoin price, ETH has seen its best performance over the past six months and one year, with an increase of 49% and 88%, respectively.

Fundamentals:

Ethereum’s unmatched position as a platform for DeFi and NFTs is still undisputed. The Ethereum blockchain is home to most DeFi protocols and NFT marketplaces, demonstrating its ability to adjust to changing market trends.

These industries still stimulate creativity and draw significant investments, enhancing Ethereum’s ecosystem and functionality.

Moreover, Ethereum’s recent Dencan upgrade have greatly enhanced its scalability, security, and sustainability. These enhancements increase the appeal of the network for developers and businesses.

Moreover, the upcoming launch of Ethereum ETFs is anticipated to attract additional institutional funds to the market, possibly leading to continued price growth.

Why Watch:

The introduction of Ethereum ETFs may revolutionize the market by providing traditional investors with easier access to ETH. With the advantages of the Dencan enhancements, Ethereum is set up for potential growth in the latter part of the year.

Monitor regulatory updates and track the performance of these ETFs post-launch.

3. Solana (SOL)

Market Performance:

SOL has demonstrated impressive performance to a point of emerging the winner of The Crypto Of The Year Award. Solana has gained the market interest for its commitment to ensuring fast transactions at minimal fees. The network has been strengthened by the recent increase in NFT projects, meme coins and DeFi projects, emerging as one of the cryptos to watch.

Solana price has surpassed Bitcoin and Ethereum in performance, achieving a 41% increase in value over the past six months and an 800% increase over the past year..

Fundamentals:

Solana is often the top choice for developers due to its scalable structure and effective consensus mechanism. The network’s popularity has been largely driven by its capability to efficiently process a large number of transactions.

Why Watch:

Alongside its solid basics, the upcoming launch of Solana ETFs is a noteworthy advancement. Just like Ethereum, these ETFs have the potential to entice institutional investors and create a fresh source of capital inflow.

Keep an eye out for regulatory changes and how the market responds to the introduction of these ETFs in the latter part of 2024.

Additionally, The rise of meme coins on Solana highlights its flexibility and increasing use in different parts of the cryptocurrency market. With the rise of meme coins, the second half of 2024 may bring more engagement and attention to Solana’s ecosystem from developers and investors.

Conclusion

Bitcoin, Ethereum, and Solana each have distinct advantages and recent advancements that set them up for possible expansion in the latter part of 2024. Bitcoin’s halving event and ETF launches, Ethereum’s enhancements for scalability and ETF expectations, and Solana’s rise as a center for meme coins showcase their individual impacts on the changing crypto environment. Investors need to stay updated on regulatory changes, market trends, and technological advancements in order to take advantage these new cryptos to watch

 

The post Cryptos to Watch in the Second Half of 2024 appeared first on CoinGape.

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Filed under: News - @ June 28, 2024 2:23 pm