10 Best Cryptocurrencies To Invest In March 2024

There are thousands of different cryptocurrencies, ranging from Dogecoin and Tether to Bitcoin and Ethereum, which might be overwhelming when you’re just starting out in the field. The following list of the top 10 cryptocurrencies, ranked by market capitalization (the total value of all coins in circulation) can help you orient yourself.

A digital asset based on blockchain technology that is free to circulate without the centralized control of a bank or government is known as a cryptocurrency. The cryptocurrency sector, which is expected to reach $4.94 billion by 2030, now has 24,630 projects underway.

1. Bitcoin (BTC)

• Market cap: $1.4 trillion

The first cryptocurrency, known as Bitcoin (BTC), was developed in 2009 by Satoshi Nakamoto. BTC operates on a blockchain, which is a ledger that records transactions dispersed over a network of thousands of computers, just like the majority other cryptocurrencies. Bitcoin is protected from scammers because updates to the distributed ledgers need to be validated through the solution of a cryptographic puzzle known as proof of work.As Bitcoin gains widespread recognition, its value soars. One Bitcoin cost roughly $500 in May of 2016. On March 12, 2024, the price of one Bitcoin was around $72,295. That is a 14,359% gain.

Although investors and consumers find bitcoin appealing due to its decentralization and openness, its energy-intensive proof-of-work consensus process has drawn criticism, and issues with network scale have also been brought up. Furthermore, a number of massive cryptocurrency projects now exist that offer faster transaction speeds than bitcoin, and some of them have unique blockchain architectures that enhance bitcoin’s capabilities.

2. Ethereum (ETH)

• Market cap: $484.4 billion

Ethereum is a blockchain platform and cryptocurrency that is popular among developers due to its potential uses, including non-fungible tokens (NFTs) and so-called smart contracts, which run automatically when certain conditions are satisfied.

It has grown astronomically as well. Its price increased 36,565% between April 2016 and the end of March 2024, from approximately $11 to about $4,033.

3. Tether (USDT)

• Market cap: $102.4 billion

Tether (USDT), in contrast to certain other cryptocurrency versions, is a stablecoin—that is, it is backed by fiat currencies such as the US dollar and the euro and maintains a theoretical value equivalent to one of those denominations. It is preferred by investors who are apprehensive about the severe volatility of other coins because, theoretically, its value is meant to be more stable than that of other cryptocurrencies.

4. Binance Coin (BNB)

• Market cap: $79.2 billion

One of the biggest cryptocurrency exchanges in the world, Binance, accepts Binance Coin (BNB) as payment for fees associated with trading. Binance Coin has grown beyond just enabling trades on Binance’s exchange platform since its introduction in 2017.These days, it can be utilized for travel booking, payment processing, and trading. Additionally, it can be exchanged or sold for other cryptocurrencies like Ethereum or Bitcoin.In 2017, BNB was only worth $0.10. Its price increased to about $530 by late March 2024, a 529,400% increase.

5. Solana (SOL)

• Market cap: $67.0 billion

Solana is a blockchain that powers decentralized apps (DApps), smart contracts, and decentralized finance (DeFi). It processes transactions fast and securely using a hybrid proof-of-stake and proof-of-history mechanism. The native token of Solana, SOL, drives the platform.SOL’s initial price at debut in 2020 was $0.77. Its price increased by 19,530% to approximately $151.15 at the end of March 2024.

6.XRP (XRP)

• Market cap: $38.5 billion

XRP is a cryptocurrency that may be used on the Ripple network to enable the exchange of various currencies, including fiat currencies and other prominent cryptocurrencies. Ripple is a digital technology and payment processing firm founded by some of the same individuals.

The price of XRP was $0.006 at the start of 2017. As of Mar. 12, 2024, its price reached $0.70, equal to a rise of 11,608%.

7. U.S. Dollar Coin (USDC)

• Market cap: $30.4 billion

Similar to Tether, USD Coin (USDC) strives for a 1 USD to 1 USDC ratio and is a stablecoin backed by US dollars. Ethereum powers USDC, and USD Coin allows you to conduct international transactions.

8. Cardano (ADA)

• Market cap: $26.6 billion

Cardano (ADA), which entered the cryptocurrency space somewhat later, is renowned for being the first to adopt proof-of-stake validation. This approach eliminates the competitive, problem-solving element of transaction verification in systems like as Bitcoin, thereby speeding up transaction times and reducing energy consumption and environmental effect. Similar to Ethereum, Cardano uses its native coin, ADA, to power decentralized apps and smart contracts.

The rise of Cardano’s ADA token has been very slow when compared other major crypto coins. In 2017, ADA’s price was $0.02. As of Mar. 12, 2024, its price was at $0.75. This is an increase of 3,648%.

9. Dogecoin (DOGE)

• Market cap: $24.7 billion

Famously launched as a joke in 2013, Dogecoin quickly gained popularity as a cryptocurrency because of its committed community and inventive memes. Dogecoins can be manufactured indefinitely, unlike many other cryptocurrencies, which makes the currency vulnerable to depreciation as supply grows.

In 2017, the price of Dogecoin was $0.0002. Its price increased to $0.17 by March 2024, a gain of 85,979%.

10. Shiba Inu (SHIB)

• Market cap: $19.3 billion

Another humor coin that emerged from Dogecoin’s craze is Shiba Inu. SHIB was developed in 2020 as an anonymous experiment to see if a coin could function without a central authority.That objective has come true because of well-known cryptocurrency figures like Vitalek Buterin and Elon Musk.

By market capitalization, Shiba Inu is currently the second-highest valued meme coin, right behind Dogecoin. Occasionally, though, those two locations have switched. The current price of a Shiba Inu is $0.00003243.