The year 2024 marked a historic turning point in the trajectory of digital currencies, represented by the inclusion of Bitcoin in an exchange-traded fund (ETF). This event opened the door wide for institutional investors to enter this emerging market, leading to a significant increase in trading volumes and raising the level of public acceptance of these currencies.
Bitcoin (BTC):
It continues to dominate as the first and largest cryptocurrency by market cap.
Despite the superiority of many other digital currencies at the beginning of 2024, we present the following index that will take a comprehensive look at the digital cryptocurrencies with outstanding potential, highlighting their pros and cons to provide a comprehensive view for investors. Technically, in terms of speed, productivity and resource efficiency, Bitcoin still holds a solid position as a mature digital asset comparable to gold and the S&P 500 index.
Ethereum (ETH):
As the largest smart contract platform, Ethereum remains at the forefront of technological innovations in the cryptocurrency space.
Technologies such as “computation abstraction” and zero-knowledge expected to be implemented on Ethereum are fueling optimism about its future.
Tether (USDT):
Tether Ltd.’s leading stablecoin, which pegs its value to the US dollar, has continued its strong growth into 2023, while improving its investment portfolio towards greater stability.
Binance Coin (BNB):
BNB is the native cryptocurrency of the largest cryptocurrency exchange, Binance Smart Chain.
USDC Currency:
The second largest stablecoin, it continues to provide a reliable alternative to Tether (USDT), despite challenges surrounding trust in reserves.
Technological innovations and improvements may support its stability and growth in the market.
These are examples of some of the major currencies. We may focus on them. Trading them may bring us many benefits.
