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What is the best new cryptocurrency in 2024?
Everyone is always on the hunt for the best new cryptocurrency to invest in. But how do investors choose the right projects? This article will explore new cryptocurrencies that have the potential to perform well in the coming months and years.
Top 7 New Cryptocurrencies in 2024
Let’s take a look at some of the best-performing cryptocurrencies that have been launched since 2023.
1. Popcat (POPCAT)
Popcat is a cat-themed meme coin, and of course, it’s one of many. However, this particular project has seen a strong 22% price growth in the last month, which has earned it a spot on this list.
It is worth noting that POPCAT tokens have no real utility and the project is purely for entertainment and/or speculative earning potential.
2. Notcoin (NO)
Notcoin is one of this year’s promising new cryptocurrencies, combining utility and entertainment in one tap to win game hosted on the TON network.
Notcoin launched in May 2024 and has gained 56% since launch, aided by a listing on Binance which provided much-needed liquidity to the young project.
3. Celestia (TIA)
Celestia is a “modular” blockchain that aims to address scalability and interoperability in the industry. The project is composed of different compartmentalized layers with different purposes. It has a use case in connecting blockchains, facilitating dApp building with efficient data management, and more.
Celestia’s native token, called TIA, has surged 178% in the past year, even after falling in value in recent weeks.
4. MANTRA (OM)
MANTRA is an L1 blockchain with a DAO, or decentralized autonomous organization, attached. The scope of the project is broad and includes lending and borrowing services, governance, and yield farming.
MANTRA’s OM coin is up an impressive 3,590% in the last year, a clear sign of market confidence.
The project wrote that “by combining MANTRA’s secure RWA-focused blockchain with MAG’s established presence in the UAE real estate market, we aim to unlock the full potential of RWA compliance in the Middle East region and beyond.”
With a solid use case and impressive price growth, many analysts have OM outlined as a possible candidate for the next big cryptocurrency. Of course, it’s important to remember that with such high gains, a correction may be in order for OM.
However, it remains on the list of new cryptocurrencies that could explode for many investors researching the market today.
5. H20 DAO
Another DAO has made it onto the list, this time a project that initially launched in 2022. While not exactly new, the project has seen very little activity until the last few weeks when its H20 coin saw a 60% price increase, deserving a mention on this list.
The price growth comes as the project pivots to become a social DAO and caters more to social media users. The H20 coin is used to facilitate the transfer of information across the network.
6. Hops (HOPPED)
Another fallen coin that has suddenly been given a new lease on life is 2023 meme coin HOPPY, a frog-themed coin with no real utility. The project appeared to be on its last legs before a major comeback in the past 30 days that saw a 160% increase in the price of its native token HOPPY.
With almost no social media presence, this coin should be considered exceptionally high risk, even for a meme coin.
7. Billy (BILLY)
Another top-performing coin is Billy, which has seen a 140% price growth in the past week. Billy is a meme coin that was launched in 2022 and has seen a surge in trading volume lately, the source of which is unknown at this time.
Launched on Solana, the project appears to be community-led after the developer sold his tokens and abandoned his work within minutes of the project’s launch, raising only around $1,000. Today, the coin has a market cap of over $100 million.
Best New Cryptocurrency to Invest in: What is the Most Popular Cryptocurrency?
For many crypto fans, OM is certainly a contender, becoming one of the biggest gainers over the past week. Our markets analyst wrote a deep dive into OM’s price performance in our recent and ongoing Chart of the Week Series.
New cryptocurrencies with potential are also difficult to evaluate due to their lack of track record, as a newer token may also have a less experienced team and will have little to no price history to look at.
However, promising new cryptocurrencies may also boast new technologies or use cases that we haven’t seen before, and this could lead to them capturing a larger share of the market. The trick for investors is to perform very cautious due diligence and thoroughly research a project before making an investment.
This means reading the project’s white paper, assessing the team’s reputation, monitoring the project’s social media accounts for spammy or fake activity, and of course, analyzing use cases and pricing.
It’s also worth taking a look at any future partnerships or endorsements tied to the project.
Risk management to find the best new coins
Despite the risks associated with new coins, early investments in well-researched projects can yield substantial rewards. Investors should also consider diversifying their portfolios to mitigate potential losses. Keeping an eye on market trends and expert analysis, such as our Chart of the Week series, can provide valuable insights into these upcoming opportunities.
At the end of the day, the best new cryptocurrency to buy is the one that fits your personal risk management strategy. Traders and investors typically outline profit and loss targets and exits before making an investment, and build a portfolio specifically tailored to their plan and needs.
You can read more about Risk management below.
Common questions
How do I find the best new cryptocurrencies?
You can evaluate cryptocurrencies based on the legitimacy and history of the team, the use case of the project and any partnerships that may exist, as well as the price history.
What’s the next cryptocurrency that’s going to explode?
No one really knows what the next cryptocurrency to explode will be. Traders typically have a complex and disciplined risk management plan in place that ensures they are not overextending themselves and exposing themselves to too much risk in one area when looking for new crypto investments. This way, their capital can survive losses in one area and maximize the chance of it lasting long enough to find projects that perform well.
Disclosure: This article does not constitute investment advice. The content and materials presented on this page are for educational purposes only.