Forget Bitcoin: 3 Cryptocurrencies to Consider Instead
While Bitcoin remains an important part of any crypto portfolio, a handful of cryptos could outperform it in 2024. Ethereum, Fetch.ai, and Chainlink are three cryptos to put on your investment radar this summer.
Ethereum, the next crypto to benefit from a sudden influx of new investor money
Ethereum could be the next crypto to benefit from a sudden influx of new investor money, thanks to the new spot Ethereum ETFs. Amidst continued investor interest around AI, Fetch.ai is about to create a new Artificial Superintelligence (ASI) Alliance with two other crypto tokens. Ethereum, Fetch.ai, and Chainlink are three cryptos to put on your investment radar this summer.
Bitcoin, the oldest name in crypto, hasn’t done much of anything recently
While Bitcoin arguably remains one of the best cryptocurrencies to buy and hold for the long term, it’s hard to ignore the fact that the oldest name in crypto hasn’t done much of anything recently. Bitcoin has largely been trading sideways for the past two months, and is not showing many signs of going full beast mode anytime soon.
The SEC’s recent pre-approval of new spot Ethereum ETFs could lead to a massive influx of new investor money into Ethereum
The obvious non-Bitcoin pick right now is Ethereum, and that has everything to do with the SEC’s recent pre-approval of new spot Ethereum ETFs. Once these ETFs start trading, perhaps as early as this summer, they could lead to a massive influx of new investor money into Ethereum, and that could push up its price for the foreseeable future.
Fetch.ai, the AI crypto token that’s becoming part of a new “AI super-alliance”
If we’re really going to forget about Bitcoin, then we need to find a crypto alternative with truly stratospheric upside. That alternative is Fetch.ai, which is currently one of the hottest AI crypto tokens in the world right now. For the year, Fetch.ai is up a blistering 195%, and the upward trajectory could continue as long as investors are interested in everything AI-related.
Chainlink, the oracle coin that’s becoming an integral part of decentralized finance (DeFi)
Finally, there’s Chainlink. Long-time crypto investors probably remember this so-called oracle coin from the previous crypto bull market cycle, when it absolutely exploded in value. Back then, the investment thesis was all about decentralized finance (DeFi), and how Chainlink was becoming an integral part of this exciting new blockchain niche.
“Real-world asset tokenization could be the next big step after the introduction of spot Bitcoin ETFs.” - Larry Fink, BlackRock CEO
So there you have it: Three big trends, and three cryptos that could be well-positioned to benefit from those trends. While it’s close to impossible to forget about Bitcoin (which should be part of your crypto portfolio if it is not already), these three cryptos arguably have much stronger tailwinds heading into the second half of 2024. Adding a light sprinkling of these cryptos to your overall portfolio could be the key to supercharging your returns for the year.
