Synopsis
As the cryptocurrency market evolves, investors are exploring underrated tokens beyond Bitcoin and Ethereum. Anush Jafer from Mudrex highlighted 10 promising cryptocurrencies during an live stream, emphasizing the value of diversifying across small-cap, mid-cap, and large-cap tokens for a resilient portfolio.
As the cryptocurrency market continues to evolve, investors are looking beyond the popular names like Bitcoin and Ethereum, seeking opportunities in lesser-known, underrated tokens that offer promising growth potential. Anush Jafer, a research expert from Mudrex, recently shared insights on this very topic during an live stream, shedding light on 10 underrated cryptocurrencies that could play a significant role in 2024.
In this session, Jafer explained the importance of diversification across market caps — small-cap, mid-cap, and large-cap cryptocurrencies — and how this strategy helps build a resilient crypto portfolio. Here’s a detailed look at the cryptocurrencies discussed and why they’re worth watching.
Understanding market caps and portfolio diversification
Cryptocurrencies, like stocks, are categorised by their market capitalization, which reflects the size, stability, and growth potential of a project. Large-cap coins, such as Bitcoin and Ethereum, are well-established with strong liquidity, making them safer bets. Mid-cap cryptocurrencies, on the other hand, offer higher growth potential but come with moderate risk. Finally, small-cap cryptocurrencies, though volatile, provide significant upside for investors willing to take on additional risk.
Jafer highlighted the importance of diversifying a portfolio across these categories to manage risk and maximise potential returns. A balanced portfolio ensures exposure to a wide range of market segments, allowing investors to weather market fluctuations and capitalise on emerging trends within different niches like DeFi, NFTs, and gaming.
Crypto Tracker
TOP COIN SETSCrypto Blue Chip – 5-8.64% BuyDeFi Tracker-8.83% BuySmart Contract Tracker-9.72% BuyAI Tracker-11.37% BuyNFT & Metaverse Tracker-16.58% BuyTOP COINS (₹) BNB42,449 (0.48%)BuyTether84 (0.09%)BuyEthereum198,412 (-1.09%)BuyBitcoin4,701,312 (-1.28%)BuySolana10,908 (-1.69%)Buy
The top 10 underrated cryptocurrencies for 2024
Here are the ten underrated cryptocurrencies identified by Anush Jafer that have the potential to make waves in 2024:
Did you Know?
The world of cryptocurrencies is very dynamic. Prices can go up or down in a matter of seconds. Thus, having reliable answers to such questions is crucial for investors.
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1. Ether
Ether is an innovative blockchain project specialising in decentralised cloud computing, particularly for gaming and virtual reality. By reducing latency and offering more cost-effective solutions, Ether aims to revolutionise the gaming industry. Its focus on the intersection of blockchain and gaming positions it for growth in this rapidly expanding sector.
2. Safe
Safe is a security-driven cryptocurrency that prioritises secure transactions and user privacy. It employs advanced encryption methods and ensures anonymity, making it especially appealing in regions with strict data privacy regulations. However, regulatory challenges around privacy tokens could affect its future.
3. Blast
Blast is a rising star in the DeFi space, offering high-speed transaction processing with minimal fees. It can handle thousands of transactions per second, and its developer-friendly ecosystem is attracting attention from the broader Web3 community, distinguishing it from other DeFi tokens.
4. Flare
Flare introduces smart contract functionality to non-smart contract blockchains like Bitcoin and XRP, unlocking potential in these ecosystems. With its focus on interoperability, Flare is positioned to play a pivotal role in the evolution of decentralised finance (DeFi).
5. Mantle
Mantle is making strides in the Web3 space by providing scalable, secure blockchain solutions. Its innovative consensus algorithms enable faster transaction speeds without compromising decentralisation, making it an attractive option for developers looking for energy-efficient and scalable platforms.
6. Casper
Casper’s Ghost DAG protocol prioritises speed and efficiency, allowing for faster block confirmations. The project’s strong community and cutting-edge technology make it a contender in the ongoing race to achieve blockchain scalability.
7. Ondo
Ondo Finance is making waves by offering structured financial products on the blockchain, catering to both retail and institutional investors. Ondo’s compliance with regulatory standards is also making it increasingly attractive to institutional players exploring DeFi opportunities.
8. Brett
Brett focuses on decentralised governance, with a decentralised autonomous organisation (DAO) structure that emphasises community-driven developments. The project aims to make crypto more accessible, particularly for users interested in decentralised governance models.
9. vMix
vMix, developed by the South Korean gaming company vMate, integrates blockchain technology into the gaming world through play-to-earn mechanics. With strong developer backing, it holds a unique position in the gaming and crypto sectors.
10. Symbol
Symbol, developed by NEM, is a next-generation blockchain platform designed for enterprise use, offering robust security and interoperability. Its hybrid blockchain supports both public and private chains, allowing businesses to tailor solutions to their specific needs.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
