Finding a cryptocurrency that is guaranteed to have a robust market outing in 2024 is borderline impossible. Such selections always hinge upon a great deal of luck and speculation. However, that doesn’t mean that certain crypto projects have a better chance of succeeding than others and that trying to identify the next big crypto is futile.
Our selection of the next cryptos that could explode includes a healthy mix of smaller and relatively new projects next to several market staples that have a lot of room to grow in the coming months.
Here are the next cryptocurrencies that could explode in September 2024:
- Solana – A highly scalable smart contracts platform
- Kaspa – An innovative layer 1 distributed ledger
- Dogecoin – The original meme coin
- Pikamoon – A GameFi metaverse project
- Sei – A blazingly fast layer 1 blockchain platform
- Ondo Finance – A platform for the tokenization of RWAs (real-world assets)
- Mina Protocol – The world’s lightest blockchain
- BitTensor – Decentralized machine intelligence market
- Notcoin – A TON Blockchain ecosystem project that started as a viral clicker game
- Render Token – A decentralized GPU project
- Shiba Inu – A utility-focused meme coin
- Stacks – Smart contracts platform secured by Bitcoin
- Filecoin – A decentralized file-sharing system
- Rocket Pool – A popular Ethereum staking service
- Toncoin – A blockchain integrating with the Telegram messenger
- Celestia – Layer 1 blockchain with a modular approach
- Sui – Scalable blockchain with Move smart contracts
Next crypto to explode: Examining 17 cryptos that seem primed to rally in 2024
The task of finding the next cryptocurrency to have a stellar year is difficult – it involves carefully examining the upside potential of each project, finding out the availability of the project’s digital assets on crypto exchanges, determining the extent of social media presence, and more.
With that in mind, here are 17 blockchain projects we believe could explode in value in 2024.
1. Solana – A highly scalable smart contracts platform
Solana is a smart contracts platform with a unique architecture that allows it to process thousands of transactions per second while keeping costs extremely low. Solana achieves this by utilizing a unique Proof-of-History algorithm and a Proof-of-Stake consensus mechanism. SOL is among the cheapest cryptos to transfer on the market, as users pay less than $0.001 per transaction on average.
Solana was founded in 2018 by Anatoly Yakovenko. The platform’s mainnet launched in March 2020, and saw a huge boost in adoption in 2021. While SOL has lost a lot of its value in the 2022 bear market, Solana still has one of the most impressive ecosystems in the cryptocurrency sector.
Why could Solana be the next cryptocurrency to explode?
Solana has been seeing plenty of positive news lately and could be positioned very well if the cryptocurrency market takes a significantly bullish turn. For example, financial services giant Visa is using the Solana blockchain to pilot a stablecoin settlement solution. Visa cited the Solana blockchain's scalability and cost-effectiveness as the reasons it’s exploring the platform for stablecoin payment settlement.
Other bullish news for Solana includes integration of Solana Pay with the e-commerce platform Shopify, as well as Maker founder Rune Christensen suggesting that the Solana codebase should be used to build MakerDAO’s new blockchain.
Even though it’s ranked in the 5th spot among all cryptocurrencies, Solana is down over 49% from its all-time high, which makes it an interesting proposition at the moment.
2. Kaspa – An innovative layer 1 distributed ledger
Kaspa is a cryptocurrency that uses a blockDAG architecture instead of a blockchain. This architecture is based on a directed acyclic graph. More specifically, Kaspa’s implementation of blockDAG is called GHOSTDAG.
This unique architecture allows Kaspa to add new blocks extremely quickly (currently at a rate of 1 block per second) and process transactions while requiring minimal fees.
The Kaspa ledger is secured through proof of work, and uses the k Heavy Hash algorithm, which is a modification of the SHA-256 algorithm used by Bitcoin. The Kaspa network is decentralized and permissionless, which means that anyone is free to join the network as a miner.
Why could Kaspa be the next cryptocurrency to explode?
Kaspa has been a strong performer in 2024 and one of the most profitable crypto to mine, growing 59% against the US dollar since January 1, 2024.
Recently, Kaspa benefited from another catalyst for its growth, as major United States-based cryptocurrency mining company Marathon Digital announced that it launched Kaspa mining operations.
— MARA (@MarathonDH) June 26, 2024
The company has purchased 60 petahash worth of Kaspa mining hardware (Bitmain’s KS3, KS5, and KS5 Pro miners), although only half of Marathon Digital’s Kaspa miners are operating at the moment. The firm estimates that it will have 16% of Kaspa’s global hashrate once all its Kaspa mining hardware is deployed.
Marathon cited Kaspa’s fair launch, technology and strong market position as the main reasons why they decided to start mining it in addition to Bitcoin.
However, it’s worth keeping in mind that Kaspa’s future growth could be limited to an extent by the fact that KAS is already a major crypto asset. At the time of writing, KAS commands a market capitalization of $4.3 billion, which makes it the 24th largest crypto asset on the market.
3. Dogecoin – The original meme coin
Dogecoin (DOGE), the original meme coin launched in 2013 as a joke, is another contender on our list of projects to keep an eye on in 2023. Dogecoin lacks some of the bells and whistles of other projects included in our selection but excels as a value transfer tool for the digital realm.
In 2021, the price of Dogecoin reached an all-time high of nearly $0.74, which cemented the meme coin in the esteemed group of the top 10 largest market-cap coins. While DOGE lost over 70% of its value since its all-time high, the currency could quickly recover once the bear cycle ends. In November 2022, Tesla CEO and the new owner of Twitter, Elon Musk, shared an image of his dog (of Shiba Inu breed, just like the logo of Dogecoin) in a shirt with a Twitter logo, which sparked considerable bullish activity in the DOGE markets.
Why could Dogecoin be the next cryptocurrency to explode?
Continued support from tech billionaire Elon Musk, a potential X (formerly Twitter) integration, and a potential transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS), which would make the network much more energy efficient, are just some of the reasons why Dogecoin could explode in 2024. Not to mention a strong community, which could end up being a crucial factor in helping Dogecoin reach $1.
In the past 3 months Dogecoin showed impressive price performance, gaining more than 75% in the time period, 20th most in the cryptocurrency top 100. If the trend keeps up, Dogecoin could be one of the coins that could hit $1 in 2024.
4. Pikamoon – A GameFi metaverse project
Pikamoon (PIKA) is a gaming metaverse based on MOBA mechanics (think League of Legends) where players battle against one another and NPCs with their Pikamoon creatures. Each Pikamooon is an NFT character with its own unique abilities and powers, designed to thrive in Pikaverse, an open metaverse split into six regions (fire, water, electric, rock, air, and earth).
A unique aspect of the Pikamoon game is the ability for players to compete for PIKA token rewards, which can be earned by completing in-game missions. PIKA can be used to purchase various items and upgrade Pikamoons. The Pikamoon game is available for all iOS and Android devices.
Why could Pikamoon be the next cryptocurrency to explode?
The popularity of MOBA games like League of Legends and DOTA is a good indication of where Pikamoon could be heading next. The ability to have fun playing your favorite gaming genre while simultaneously earning real money rewards via the PIKA token is certainly an enticing proposition for many players. Additionally, the game's availability on iOS and Android, the two most widespread mobile ecosystems, should provide Pikamoon with a degree of exposure that traditional, mostly desktop-focused MOBAs don't get.
5. Sei – A blazingly fast layer 1 blockchain
Sei can handle 20,000 transactions per second and achieve finality in less than half a second. The Sei blockchain is specialized for trading and implements a number of features to reduce latency and increase the network’s throughput.
One of the biggest distinctive features of Sei is Twin-Turbo consensus, which significantly optimizes the blockchain validation process and improves the speed at which transactions are validated.
Why could Sei be the next crypto to explode?
Sei developers are certainly not resting on their laurels. The Sei community is currently looking forward to Sei v2, a proposed upgrade that will make all of the benefits of the Sei blockchain easily accessible to Ethereum developers. According to the Sei team, Sei v2 will provide the best of Solana and Ethereum by offering a highly optimized execution layer that’s also compatible with the tools used by Ethereum developers.
The Sei v2 upgrade saw a public testnet launch in the first quarter of this year and is expected to be deployed on the Sei mainnet in the first half of 2024. In late April, the Sei team announced that the "v2" of the platform successfully passed an audit conducted by Zellic.
6. Ondo Finance – A platform for the tokenization of RWAs (real-world assets)
Ondo Finance is a platform that makes it possible to tokenize real-world assets (RWA) and invest in theM on the blockchain. The platform launched its first tokenized securities products on the Ethereum blockchain in 2023, but has since also expanded to the Solana blockchain.
The ONDO token serves as the governance token for the ONDO DAO, enabling holders to vote on various protocol issues, such as economic parameters, smart contract upgrades, and matters related to the DAO's management.
The ONDO token has a maximum supply of 10 billion, with no planned or scheduled inflation. Instead, tokens are distributed proportionally to various stakeholders and are vested over time to ensure a controlled increase of the token's circulating supply.
Why could Ondo Finance be the next cryptocurrency to explode?
Ondo Finance is a leading player in the RWA (Real-World Assets) sector, which has the potential to be a major growth catalyst for crypto and blockchain technology.
The Ondo Finance platform enables the tokenization of financial instruments, such as exchange-traded funds (ETFs) or money market funds, allowing for more efficient trading through blockchain-based tokens. The underlying assets supporting these tokens are securely held in custody by the issuer.
Ondo Finance's flagship offerings include the USDY (US Dollar Yield) and OUSG (Ondo US Government Treasuries) tokens. These tokens are designed to provide yield, which varies based on the returns generated by short-term US Treasuries and other securities.
According to data from RWA.xyz, Ondo Finance is the top protocol for tokenized treasuries on the market today, with a market cap of around $605 million.
Ondo Finance is currently the top protocol for tokenized treasuries. Image source. RWA.xyz
7. Mina Protocol – The world’s lightest blockchain
Mina Protocol (MINA) leverages the power of zero-knowledge proofs to create a blockchain that is only 22 kb in size, regardless of the total amount of transactions that are taking place in the network. For context, Ethereum expanded to over 200 GB in 2021.
The small size of the Mina Protocol chain allows everyone to run a full node, even on mobile devices that have considerably less computing power than desktop computers or dedicated servers. Thanks to the lightweight blockchain architecture, Mina Protocol features a high degree of decentralization.
Why could Mina Protocol be the next cryptocurrency to explode?
After stellar market performance after its launch in 2021, Mina Protocol faced considerable bearish pressure that wiped out more than 90% of its value over the course of the 2022 bear cycle. However, in the past year, MINA has already gained over +25%. If the positive trend persists, MINA could hold a massive rally. A similar thing happened between July and September 2021, when MINA gained over 500% in the span of just a couple of months.
8. BitTensor – Decentralized machine intelligence market
Bittensor is a decentralized platform that creates a peer-to-peer market for machine intelligence. It operates through multiple subnets, each specialized for specific tasks like text prompting, transcription, or audio generation. Currently, there are over 30 active Bittensor subnets.
A unique feature of Bittensor is its Yuma Consensus mechanism, which allows validators on different subnets to influence the network's learning direction. This innovative consensus mechanism sets Bittensor apart in the realm of decentralized machine learning.
Miners provide the computational resources needed for machine learning tasks on the Bittensor network and are incentivized with TAO tokens. Users needing machine learning services must pay with TAO tokens to access these resources.
Why could BitTensor be the next cryptocurrency to explode?
In the past year, AI-related coins and tokens have experienced significant growth, outpacing other sectors. This surge is largely due to the broader economy's enthusiasm for new large language models and AI-specialized chips.
Earlier this year, Bittensor was listed on Binance, one of the largest and most active crypto exchanges. This listing is expected to boost Bittensor's liquidity, which could be exactly what TAO needs to ascend to new price levels.
9. Notcoin – A TON Blockchain ecosystem project that started as a viral clicker game
Notcoin first gained public attention as a simple clicker game available as a Mini App within the Telegram messenger. Players could earn points by continuously tapping on an image of a shiny coin and could activate bonuses to increase their point-earning rate.
The Notcoin Mini App included basic social features, allowing users to form "Squads" with friends and compete against other Squads on leaderboards. This social aspect contributed to the game's viral success, quickly attracting millions of users.
After the success of their clicker game, the Notcoin team launched a token on the TON Blockchain platform. The token, with the ticker NOT, is intended to serve as a community token, enabling users to earn rewards while exploring the web3 ecosystem, playing games, or contributing to the ecosystem.
Why could Notcoin be the next cryptocurrency to explode?
The Notcoin project has made a pivot from being just a clicker game and is now establishing itself as a leading project in the TON Blockchain ecosystem. For example, Notcoin's "Explore" feature allows users to earn NOT tokens for exploring and engaging with new web3 projects.
Now, the Notcoin team has teased another chapter in the story of project, which will involve gaming. The initiative, called "Not Games", will periodically introduce new games that will be available to Telegram users, who will be able to participate with their squads and earn reputation and rewards.
10. Render Token – A decentralized GPU project
2023 has undoubtedly been the year of artificial intelligence (AI) breakthroughs. We witnessed the explosive rise of Generative AI with ChatGPT, image-generating products and services, and more. Crypto space has also been a home for projects leveraging the power of AI for unique use cases, with Render Token (RNDR) arguably leading the way.
Render Network is a decentralized platform that connects users needing GPU rendering with those who possess idle GPUs. It provides easier access to GPU rendering for users while allowing hardware owners to earn from their unused resources. Although Render Network doesn't have a specific focus on AI, it can contribute to the increasing demand for AI by offering GPU computing power, which is crucial for technologies like ChatGPT. Render Network already supports generating images using deep learning models like Stable Diffusion.
Why could Render Token be the next cryptocurrency to explode?
Render Token has demonstrated strong performance in 2023, gaining over 400% throughout the year, which was aligned with the growing enthusiasm for AI, fueled by ChatGPT and other AI tools. Also, Render Token is actively working on expanding its team and making its Tier 1 and Enterprise Tier services more broadly available. The team is also adding new render engines (including Arnold) and bringing multiple Octane version support to the Render Network, which could cement the project as the leading GPU cloud provider in the space.
11. Shiba Inu – A utility-focused meme coin
Shiba Inu (SHIB) started out as an “experiment in decentralized community building” in August 2020. What followed was one of the most impressive market runs in the history of crypto – the price of SHIB increased by millions of percent, propelling Shiba Inu among the most successful crypto projects in the world.
The Shiba Inu ecosystem consists of several core features, including the native ShibaSwap decentralized exchange (DEX) platform, SHIB Burning Portal, as well as NFT and metaverse offerings. The ecosystem is powered by a trio of tokens, including SHIB, LEASH, and BONE. The so-called “Shib Army,” the project’s over a million-strong social media following, and the Shiba Inu development, are managed by Shytoshi Kusama, a volunteer project lead.
Why could Shiba Inu be the next cryptocurrency to explode?
There are several reasons why Shiba Inu could succeed in pulling off another massive market rally in 2024. The growing use of Shibarium, a layer 2 solution for Shiba Inu, could see the cost of transactions drop and the speed of transactions increase. In addition, the effect of SHIB burning could lead to a massive drop in the circulating supply of SHIB, which could help the token reach 1 cent, or even the 1 USD milestone, in the long term.
12. Stacks – Smart contracts platform secured by Bitcoin
Stacks is a layer 2 platform secured by Bitcoin. It’s designed to introduce smart contract functionality to the Bitcoin ecosystem, enabling use cases such as decentralized finance and NFTs. By using Bitcoin as its settlement layer, Stacks ensures a decentralized and censorship-resistant environment for smart contracts.
The security of the Stacks network relies on a process called "stacking," where STX holders temporarily lock up their tokens to support the network. In return, they receive rewards in BTC. This mechanism enhances network security while providing incentives for participation.
Stacks aims to activate the significant capital within the Bitcoin ecosystem through DeFi protocols, decentralized social media platforms, NFTs, and other smart contract applications.
Why could Stacks be the next cryptocurrency to explode?
This year, the Stacks community is anticipating the Nakamoto release, which will introduce sBTC, an asset that is trustlessly pegged toBTC. The release will also ensure that Stacks transactions benefit from Bitcoin's finality, potentially making Stacks one of the most secure smart contract platforms available.
The mainnet rollout of the Nakamoto release began with Bitcoin block #840,360, and the mainnet upgrade is expected to be completed by late August 2024.
13. Filecoin – A decentralized file-sharing system
Filecoin (FIL) is arguably the most unique project on our list. Made by Protocol Labs, the Filecoin platform aims to decentralize computer storage by allowing anyone to provide their empty disk space to store files. The peer-to-peer network features built-in economic incentives that ensure that files are stored securely and retrievable over time.
Filecoin, which uses a combination of proof-of-replication and proof-of-spacetime to reach a consensus on the state of the ledger, exploded from $30 to an all-time high of $236 in the first half of 2021, only to retrace by more than 98% in the months that followed.
Why could Filecoin be the next cryptocurrency to explode?
If Filecoin reaches critical mass and becomes a direct competitor to centralized cloud solutions like Google Drive and Microsoft Azure, the price of FIL could see a massive move to the top. As a part of its 2024 roadmap, the Filecoin team plans to launch specialized smart contracts that would be able to tap into decentralized data to enable internet-scale operations. If successful, FIL could easily become the next big cryptocurrency project, capable of revolutionizing both Web3 and the traditional cloud computing space.
14. Rocket Pool – A popular Ethereum staking service
One of the biggest news stories in crypto in 2022 was Ethereum’s transition from Proof-of-Work (PoW) to over 99% more efficient Proof-of-Stake (PoS). Rocket Pool (RPL) is the first of its kind decentralized Ethereum staking pool, allowing users to earn staking rewards by depositing as little as 0.01 ETH into staking pools.
In addition, Rocket Pool allows users to run an Ethereum node with 16 ETH, which is exactly half of what’s required when staking ETH directly via the Ethereum 2.0 smart contract. The platform’s native token is used for incentives, insurance, and community governance.
Why could Rocket Pool be the next cryptocurrency to explode?
Given the widespread interest in ETH staking, many crypto investors are looking for ways to generate passive returns with ETH. As a result, we’ve seen services like Lido and centralized solutions by exchanges such as Binance, grow in popularity. If this trend keeps up, Rocket Pool could easily become one of the best-performing crypto assets in 2024. In fact, RPL has nearly doubled in price in the past 6 months, confirming that crypto investors are very keen on ETH staking and the services that enable it.
15. Toncoin – A blockchain integrating with the Telegram messenger
The TON Blockchain is a Proof-of-Stake blockchain platform that implements several scaling technologies to be able to support mass adoption. The native asset of the TON Blockchain is called Toncoin.
The Proof-of-Stake consensus in TON Blockchain is conducted by validator nodes. While becoming a validator is accessible to anyone, it does require a large amount of Toncoin. Toncoin holders can serve as nominators and delegate their coins to a validator to help them reach the required amount.
Even though TON Blockchain now uses Proof-of-Stake, the initial distribution of TON was conducted through mining to ensure a fair launch.
Toncoin is based on the work done by the team behind the private messaging app Telegram, which created a blockchain called The Open Network, but were forced to stop development due to regulatory issues. Even though Toncoin is now a community-led effort and no longer developed by Telegram, the Telegram messenger is still integrating it into the app.
Why could Toncoin be the next cryptocurrency to explode?
The team behind the Telegram messenger is collaborating with the TON Foundation to integrate Toncoin with the Telegram app. For example, those who have installed the Toncoin wallet can now access their wallet directly From the Telegram menu. The TON Foundation also has the ambitious goal of attracting 30% of Telegram's user base to Toncoin by the year 2028.
If Telegram integrates Toncoin even further, we could see TON becoming one of the best-performing cryptocurrencies, as Telegram has a global userbase of 900 million monthly active users. However, it's important to keep in mind that Toncoin's upside could be limited by the fact that it already has a market capitalization of $18 billion as of April 2024 and it's also the 11th largest crypto asset on the market.
16. Celestia – Layer 1 blockchain with a modular approach
Celestia is a layer 1 blockchain platform with a modular approach that launched in October 2023. Celestia enables developers to easily create new blockchains and its architecture supports parallel consensus across chains, verified through fraud and data availability proofs. It addresses the challenge of data verification in large blocks by using modular chains and data availability sampling.
Celestia also facilitates rollups, a type of blockchain that offloads some work to Celestia, providing added security. These rollups, called sovereign rollups, combine the convenience of layer 2s with layer 1 sovereignty.
In contrast to the competitive nature of traditional Layer 1 ecosystems, Celestia promotes collaboration through a modular blockchain approach.
Why could Celestia be the next cryptocurrency to explode?
Celestia was one of the most highly anticipated blockchain projects to launch in 2023. Despite its mainnet launch only coming towards the end of October of 2023, Celestia’s native token already commands a market capitalization north of $1.7 billion and is on the cusp of entering the crypto top 50. With data availability poised to become an increasingly important topic when it comes to scaling blockchains, Celestia could be positioned very well in the future. With the ability to provide extremely cheap and fast data availability, Celestia could become the go-to solution for mainstream-oriented blockchain apps that need to handle large amounts of transactions cheaply.
17. Sui – Scalable blockchain with Move smart contracts
Sui is a highly scalable smart contract platform that uses the Move programming language for smart contracts. In Sui, simple transactions can bypass the consensus protocol, enhancing the platform's scalability. However, complex transactions still undergo the network’s consensus process to maintain security. The Sui protocol is capable of achieving consensus and executing transactions on different objects in parallel.
The native asset of the Sui blockchain is called SUI. The coin's supply is capped at 10 billion, and it fulfills four key roles. SUI can be staked to participate in Proof-of-Stake consensus, and is also required for paying gas fees. The coin also enables participation in governance, and can be used as a liquid asset across applications deployed on the Sui blockchain.
Why could Sui be the next cryptocurrency to explode?
Sui is one of the most performant blockchains on the market today, which could be key if a use case for blockchain technology reaches mainstream appeal. The Sui team appears to have put a significant focus on gaming, as they have announced a mobile gaming device called SuiPlay0x1, which will provide native support for Sui games, as well as games on the popular Steam and Epic Games platforms. Preorders for the device are already available, and the first units are expected to ship in 2025.
Beyond being one of the most promising platforms for blockchain-powered gaming, Sui is also impressive when it comes to decentralized finance. According to data from DeFi Llama, the DeFi ecosystem on Sui has a TVL (total value locked) of $612 million, which ranks it 12th among all blockchain platforms (including Ethereum layer 2s).
Final thoughts
As mentioned in the opening paragraphs, finding the next cryptocurrency to have strong market performance involves a great deal of speculation and, ultimately, luck. The cryptocurrencies we’ve featured on our list each have a strong chance of posting robust price performances once bears release their grip and, more importantly, feature unique properties and utility prospects that will help ensure they rally once the next crypto bull run starts.
For additional investment ideas, you can check out our list of the best cryptocurrencies to buy right now. If you are interested in investing in cryptocurrencies that could post robust gains in the aftermath of the 2024 Bitcoin halving, check the video below.
Disclaimer: The content of this article should not be considered as investment advice. Always do your own research before deciding to buy, sell or transfer any crypto assets.