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12 Best Crypto to Buy Right Now — July 2024

By July 15, 2024 No Comments
Best Crypto to Buy Now

Are you looking to invest in cryptocurrencies but unsure which one to buy? With so many options available, it can be overwhelming to decide how to invest your money. That’s why we’ve compiled a list of the best crypto to buy now, based on factors such as project developments, price performance, and market capitalization, as well as the overall potential for growth.

In this article, we’ll take a closer look at the most promising cryptocurrencies, including staples such as Bitcoin and Ethereum, and a combination of several other promising crypto projects. We’ll discuss their features, advantages, and potential drawbacks, as well as provide insights into market trends. Whether you’re a seasoned investor or just starting out, this article will help you make an informed decision about the best crypto to buy now. 

So, let’s dive in and explore the best cryptocurrencies to invest in July 2024:

  1. Cardano – One of the largest blockchain ecosystems
  2. Bitcoin – The world’s oldest and largest crypto
  3. Stacks – A layer 2 platform for Bitcoin
  4. Solana – One of the fastest and cheapest L1 blockchains
  5. Avalanche – A leading “Ethereum killer”
  6. Toncoin – A blockchain designed by Telegram and run by the community
  7. BNB – A popular crypto asset enjoying support from the world’s biggest crypto exchange
  8. Uniswap – The largest decentralized trading protocol
  9. Ethereum – The leading DeFi and smart contract platform
  10. Lido – The leading liquid staking solution for Ethereum
  11. Arkham – A decentralized blockchain analytics platform
  12. ZKsync – A leading layer 2 for Ethereum

The 12 best cryptos to buy right now: Discover top investments for July 2024

The following three cryptocurrency projects highlight our investment selection thanks to important developments and upcoming events that make them especially interesting to follow in the near future. These projects are updated each week based on the most recent developments and trends taking place in the crypto market.

1. Cardano

Cardano was founded by Charles Hoskinson, one of the co-founders of Ethereum, and his team. The main goal of Cardano is to provide a secure, scalable, and sustainable infrastructure for the development of decentralized applications (DApps) and smart contracts.

Cardano’s blockchain is built using a unique layered architecture, separating the settlement layer from the computation layer. This design approach aims to improve the efficiency, flexibility, and security of the platform. The settlement layer is responsible for handling transactions and maintaining the cryptocurrency (ADA) ledger, while the computation layer is used for running smart contracts and executing DApps.

The platform utilizes a consensus algorithm called Ouroboros, which is a type of proof-of-stake (PoS) mechanism. This means that validators (also known as stakeholders) are selected to create new blocks and validate transactions based on the amount of ADA they hold and are willing to “stake” as collateral.

Cardano has a strong focus on academic research and peer-reviewed development. The team emphasizes scientific rigor and evidence-based protocols to ensure that the platform is secure, scalable, and capable of handling complex use cases.

Why Cardano?

On July 9, the Cardano team released a new update for its validator node software, Node 9.0. According to Cardano founder Charles Hoskinson, the update was the final roadmap step toward the upcoming Chang hard fork. However, before the hard fork can begin, 70% of nodes will need to transition to the 9.0 version of the software. At the moment, 20% of nodes are reporting the 9.0 version of the software, which means that it will probably take a couple of weeks before the 70% threshold is met.

cardano nodes version
Image source: pooltool.io

The Chang hard fork is a major upcoming upgrade for the Cardano mainnet, which will bring decentralized governance to the blockchain ecosystem. It will also signify the beginning of the Age of Voltaire, the final step in Cardano’s roadmap.

According to Cardano’s CIP-1964, a detailed proposal that first outlined the project’s decentralized governance approach back in 2022, the new governance framework will feature three distinct bodies: a constitutional committee, a group of delegated representatives (DReps), and stake pool operators (SPOs). Each governance action must be ratified by at least two of these three bodies to be enacted on-chain. This multi-layered structure aims to ensure robust and decentralized decision-making.

The proposal also addresses several shortcomings of the existing Shelley governance design by increasing transparency and control over treasury movements, which are critical and sensitive. The new system will provide more layers of control and ensure that every ADA holder has a voice in the governance process.

Following the 9.0 node update, Cardano saw significant positive price activity. In fact, ADA outperformed all other top 15 cryptocurrencies in the past week, gaining about 25%.

2. Bitcoin

Bitcoin (BTC) is the original decentralized digital currency, enabling peer-to-peer transactions without the need for intermediaries such as banks or financial institutions. It was created in 2009 by an unknown person or group of people using the pseudonym Satoshi Nakamoto. Bitcoin was the first digital currency to eliminate the double spending problem without resorting to any central intermediaries.

Bitcoin transactions are recorded on a public ledger called the blockchain, which is maintained by a network of computers around the world. This means that the transactions are secure and transparent, as anyone can view them, but they are also anonymous, as the identity of the participants in the transaction is not revealed.

BTC can be bought and sold on cryptocurrency exchanges, and they can be stored in a digital wallet, which is a software program that securely stores private keys that are required to access and transfer the currency.

Bitcoin is often referred to as “digital gold” or a store of value, as it has a limited supply of 21 million coins, and its value is determined by market demand. Some people also see it as a hedge against inflation or a way to diversify their investment portfolio. It is by far the largest cryptocurrency by market cap in the industry, accounting for the value of more than 40% of all digital assets in circulation combined, making it arguably the most popular crypto to buy.

Why Bitcoin?

Following a considerable price dip in the first part of July, Bitcoin has firmly rejected the ~$55,000 bottom and is now trading at nearly $63,000, up 11% in the past couple of days. 

There are three interesting reasons why this could be a sign of a much bigger move to the top to come. As you probably already know, BTC from the defunct Mt. Gox exchange and BTC seized by the German government found their way to the markets in recent weeks. According to estimates, the collective value of these coins is in the neighborhood of $9 billion. While the selling pressure initially caused the aforementioned dip to roughly $55,000, it now seems that the massive sell order wall has become all but priced in and will probably not have a significant impact on the price of BTC going forward.

Secondly, the latest inflation readings reported by the U.S. Federal Reserve brought some renewed optimism among investors. According to the Fed, the 12-month inflation rate ending in June settled at 3%, down 0.1% month-over-month, inching closer to the 2% inflation target. The latest report all but ensured that the Fed will be dropping interest rates later this year, a move which many believe will act as a market catalyst.

spot bitcoin etf flows

Thirdly, Bitcoin ETF inflows have picked up steam over the past couple of days. While daily net flows were mostly negative since early June, the first part of July saw nearly $800 million in total inflows. This could indicate that institutional investors perceive buying BTC at current price levels as a good investment opportunity.

It’s also worth noting that we are now three months removed from the last Bitcoin halving. Historically, each Bitcoin halving cycle has brought new all-time highs, usually several months into each cycle, supporting the argument of those who advocate buying BTC at current prices. Here’s a quick breakdown of the highest and lowest prices in each cycle, as well as the BTC price at the time of each halving:

 Lowest PriceHighest PriceBTC Price at Date of Halving
1st Halving Cycle (Nov 2012 – Jul 2016)$12.4$1,170$12.3 (Nov 28, 2012)
2nd Halving Cycle (Jul 2016 – May 2020)$535$19,400$680 (Jul 9, 2016)
3rd Halving Cycle (May 2020 – Apr 2024)$8,590$73,600$8,590 (May 11, 2020)
4th Halving Cycle (Apr 2024 – 2028*)$56,780$66,990$64,795 (April 20, 2024)
*The fourth halving cycle will probably end sometime in mid-2028. Predicting the exact date so far out is impossible due to the unpredictability of new block generation.

3. Stacks

Stacks is a unique cryptocurrency designed to bring smart contracts and decentralized applications (dApps) to the Bitcoin blockchain. Unlike many other cryptocurrencies, Stacks enhances Bitcoin’s functionality without modifying its core code. It achieves this through a layer-1 blockchain that connects to Bitcoin, using Bitcoin’s robust security. 

The innovative Proof-of-Transfer (PoX) consensus mechanism links Stacks to Bitcoin by using BTC to mint new STX tokens, rewarding participants who secure the network. This approach allows developers to build on Bitcoin’s stability and widespread adoption while enabling advanced functionalities such as DeFi, NFTs, and smart contracts. 

Stacks is supported by Clarity, a programming language optimized for predictability and security, reducing the risk of bugs and exploits. By leveraging Bitcoin’s established infrastructure, Stacks aims to bridge the gap between Bitcoin’s long track record of reliability and the growing sector of decentralized applications.

Why Stacks?

On July 12, Stacks scored a massive regulatory victory. According to CNBC, the Securities and Exchange Commission (SEC) finally dropped the three-year investigation into Hiro Systems, the developer behind the Stacks blockchain. The investigation focused on possible irregularities associated with Stacks’ token sale. Between 2017 and 2019, Stacks raised $70 million from token sale investors.

“Based on the information we have as of this date, we do not intend to recommend an enforcement action by the Commission against Hiro Systems,” the regulator wrote in a letter included in the Friday filing, basically admitting that Stacks is free of any wrongdoing.

Muneeb Ali, a board member of Hiro Systems, addressed the regulatory development by calling for greater transparency and clarity from lawmakers:

“We need a regulatory system that meets builders of innovative open protocols where they are. We’ll continue working with policymakers and developers to help make this happen. The closing of the Stacks investigation gives us hope for a bright future for decentralized technologies for Bitcoin and the next-generation internet:”

Following the successful resolution of the multi-year legal saga, Stacks’ native token STX rallied by over 35%, becoming the second-best performing asset in the cryptocurrency top 100 in the last 7 days.

4. Solana

Solana is a cryptocurrency and blockchain platform that was created to provide a fast, secure, and scalable infrastructure for decentralized applications (dApps) and token issuance. It was launched in March 2020 by Solana Labs, and quickly grew to become one of the largest blockchain networks in the sector.

Solana uses a unique consensus mechanism called Proof of History (PoH) which enables it to process thousands of transactions per second while maintaining a low transaction fee. This makes it one of the fastest and most cost-effective blockchains in existence.

In addition to its fast transaction processing speed, Solana also offers smart contract functionality and is fully compatible with the Ethereum Virtual Machine (EVM). This allows developers to build and deploy dApps on Solana using popular programming languages such as Rust, C++, and JavaScript.

The native cryptocurrency of the Solana network is called SOL, which is used as a medium of exchange and a store of value within the ecosystem. SOL is also used to pay for transaction fees and other network services.

Following explosive growth in 2020 and 2021, Solana hit a rough patch in 2022 due to the broader crypto winter. The negative market activity for SOL was exacerbated following the collapse of the FTX exchange, which was one of the biggest investors in Solana. The SOL coin fell all the way down to $10 in late 2022 (95% removed from its ATH of ~$260) but has since recovered a significant chunk of its losses.

Why Solana?

In the past couple of weeks, a couple of notable firms filed for a Solana spot ETF with the Securities and Exchange Commission (SEC) in the United States. This could mean that Solana is next in line for a spot ETF in the US, following Bitcoin and Ethereum.

According to Cointelegraph, 21Shares and Vaneck filed for their respective spot ETFs. The two firms also offer Bitcoin spot ETFs and are soon to start offering Ethereum spot ETFs to US customers. Solana could benefit from interest generated by spot ETFs, much like BTC and ETH earlier this year. 

In addition to market news, there have been several technical developments that are worth mentioning when it comes to Solana. Light Protocol and Helius Labs, two prominent Solana development firms, have introduced a new scaling technology known as ZK Compression. According to the project’s documentation, this technology can drastically lower the cost of storing data on Solana.

The creators of ZK Compression claim that a 100-byte PDA (Program Derived Address) account can be stored at approximately 160 times less cost with ZK Compression, while the expense of storing 100 token accounts can be reduced by up to 5,000 times using this technology.

ZK Compression works by only storing state roots in on-chain accounts. The underlying data, on the other hand, is kept on the Solana ledger, which comes with much lower costs. Zero-knowledge proofs are utilized to verify the authenticity of the compressed state roots. This means that a much smaller volume of data is added to the Solana chain state, leading to substantial cost savings.

Despite Solana already being one of the most scalable blockchain platforms available today, ZK Compression has the potential to boost its efficiency even further. When combined with the upcoming Firedancer validator, Solana may begin supporting blockchain applications that were previously deemed unfeasible due to high costs.

5. Avalanche

Avalanche is a cryptocurrency and blockchain platform designed to provide high-speed, low-cost transactions for decentralized applications (dApps) and enterprise use cases. The Avalanche network is built on a DAG-optimized consensus mechanism called Avalanche, which uses a novel approach to achieving consensus among nodes on the network. This allows the network to process transactions quickly and efficiently, with the potential for over 4,500 transactions per second (TPS).

Avalanche uses its native token, AVAX, as a means of value transfer and to pay for transaction fees on the network. AVAX can also be staked by node operators to help secure the network and earn rewards in the form of additional tokens.

One of the key features of Avalanche is its support for interoperability between different blockchains, which allows for the transfer of assets and data between different networks. This is achieved through a technology called the Avalanche-X bridge, which enables cross-chain communication and allows developers to build dApps that can interact with multiple blockchains.

Why Avalanche?

Avalanche has had quite an eventful past couple of weeks. In the week before the last, it recorded the second-largest seven-day gain out of all top 100 cryptocurrencies, appreciating by over 22% in that time period. While AVAX lost quite a bit of ground in the past week, mostly due to the broader crypto market downturn, it still has a lot going for it, thanks to recent developments.

For starters, the Coinbase Derivatives exchange announced on June 28 that it would list AVAX as one of a handful of cryptocurrencies available to trade on the platform. AVAX future contracts will diversify Coinbase’s derivatives offering and become available for trading on July 15 (pending CFTC approval). Here’s what the exchange wrote about the addition of AVAX futures and other derivatives:

“Coinbase Derivatives is excited to lead market accessibility, as the first U.S. futures exchange to offer margined futures contracts for these assets [AVAX, LNK, DOT, XLM, and SHB] and we look forward to seeing the maturation of these derivatives contracts in a regulated market.”

Another interesting development for the Avalanche ecosystem is further integration with Chainlink, which has introduced its Data Streams product on the Avalanche network. GMX, a decentralized perpetual futures trading platform, is utilizing this product to power its perpetual futures protocol. Data Streams provide real-time, high-frequency market data, crucial for traders on platforms like GMX and other decentralized trading platforms.

6. Toncoin

Toncoin is a platform consisting of multiple components. One of its main components is the TON Blockchain (with TON standing for “The Open Network”), which is a flexible multi-blockchain platform capable of processing millions of transactions per second. It supports Turing-complete smart contracts, upgradable blockchain specifications, and multi-cryptocurrency value transfers. The TON Blockchain incorporates unique features such as a self-healing vertical blockchain mechanism and Instant Hypercube Routing, which ensure fast, reliable, scalable, and self-consistent operations.

In addition, the Open Network comprises of the TON P2P Network for accessing the TON Blockchain, TON Storage for distributed file storage, TON Proxy for privacy protection, TON DHT for distributed hash table functionality, TON Services for platform-based services, TON DNS for human-readable naming, and TON Payments for micropayments. TON aims to make blockchain and distributed services more accessible by integrating with popular messaging and social networking apps like Telegram (which already supports TON and BTC transfers).

The native cryptocurrency of the Open Network is Toncoin, which is used to facilitate deposits to become a validator, and cover transaction fees and gas payments (fees incurred from smart contract message processing).

Initially, the Open Network was launched as the Open Telegram Network by the Telegram team but was later rebranded as the community took over the development of the project. Telegram withdrew from development in 2020 after the litigation with the Securities and Exchange Commission (SEC), which accused the company of selling unregistered securities.

Why Toncoin?

According to a report by The Block, cryptocurrency investment firm Pantera Capital is raising capital for a fund dedicated to investing in Toncoin. The fund is seeking contributions of at least $250,000 from each investor.

Pantera Capital is evidently very optimistic about TON, as indicated in a May newsletter where the firm described its investment in TON as its largest to date. The new investment opportunity in TON currently being pursued by Pantera seems to be an effort to reinforce that commitment to the TON Blockchain. Ryan Barney, a partner at Pantera, shared his thoughts on Toncoin and the TON Blockchain:

“With its extensive user base, scalable infrastructure, a thriving ecosystem of mini apps, and native stablecoin transactions, TON harnesses the potential of a network with 900 million active, engaged users.”

Following the viral success of Notcoin’s clicker game and the launch of the project’s NOT token, we are witnessing a surge in activity on Telegram mini-apps following a similar model. Notable examples of popular Telegram mini-apps include Hamster Kombat, Catizen, Yescoin, TapSwap, and Gemz. Many of these games are planning to launch tokens on the TON Blockchain, which could contribute to the platform’s further growth.

7. BNB

BNB, a crypto asset originally launched by the Binance cryptocurrency exchange in 2017, is a token with two main roles. Token holders enjoy exclusive perks while utilizing Binance, such as reduced trading fees, entry to the exchange’s Launchpad and Launchpool programs, cashback rewards on Binance Visa card transactions, and more.

Additionally, the token serves as the native asset for the BNB Chain blockchain. BNB Chain, a variation of Ethereum, offers users much lower transaction fees and supports EVM-compatible decentralized applications, providing an easy transition for developers who are accustomed to building on Ethereum. Originally named Binance Coin, BNB has undergone a comprehensive rebranding in recent years.

Why BNB?

There are a couple of reasons why BNB has been doing well recently. A major factor has definitely been the increase in the number of Binance Launchpool campaigns, which allow BNB holders to stake their holdings and get access to tokens of promising new projects that launch throughout the Launchpool platform. In the past two months alone, we’ve seen the launch of Renzo Protocol, Omni Network, Saga, and Ethena.

The Binance cryptocurrency exchange has launched a new initiative called “HODLer Airdrops,” aimed at rewarding users who keep their BNB tokens in Binance’s Simple Earn lending products.

Binance states that the airdropped tokens will be sourced from projects with a substantial circulating token supply that are soon to be listed on the platform. The focus will be on “small to medium projects with strong fundamentals, a large circulating supply, and strong and organic communities”.

BNB holders with tokens in Simple Earn products, including both flexible and locked lending options, will be eligible for these airdrops. The distribution of airdrops will be determined by the user’s average hourly balance in Simple Earn. Binance will also randomly take historical snapshots of users’ Simple Earn BNB balances.

The HODLer Airdrops initiative serves as an additional incentive for users to retain BNB tokens. Those who participate in Simple Earn products will also qualify for other perks, such as the Launchpool and Megadrop initiatives, and access to Binance’s VIP program.

8. Uniswap

Uniswap is a decentralized exchange (DEX) that runs on the Ethereum blockchain. It was created in 2018 by Hayden Adams, and it allows users to trade various cryptocurrencies without the need for an intermediary or central authority.

Uniswap uses an automated market maker (AMM) system, which means that there is no order book or centralized exchange to match buyers and sellers. Instead, liquidity providers (LPs) contribute funds to liquidity pools, which are used to execute trades. Traders can swap one cryptocurrency for another by exchanging tokens with the liquidity pool, which uses a mathematical formula to determine the exchange rate.

The native cryptocurrency of the Uniswap platform is UNI, which is used for governance and for providing incentives to liquidity providers. UNI holders can participate in platform governance, including proposing and voting on changes to the protocol.

In the five years since its launch, Uniswap has grown to become the most popular decentralized exchange in the cryptocurrency ecosystem, with billions of dollars in trading volume and a large community of users and developers.

Why Uniswap?

Uniswap’s native token, UNI, has been the largest gainer out of all the top 100 cryptocurrencies in the past week, recording a +12% uptrend. This has helped UNI establish a new multi-week high during a period where many cryptocurrencies struggled to post gains at all.

According to on-chain data, the token’s price increase coincided with promising market data. The open interest for the UNI token peaked at $168 million earlier in June, indicating investors’ interest in the token. For context, the open interest was “just” $85 million a month ago. While this doesn’t entail that UNI will necessarily increase in value, it could be argued that investors are betting on just that.

On June 14, Uniswap announced that it would be adding support for ZKsync. This means that Uniswap trades can be executed on the highly efficient layer 2 network for Ethereum, which in turn entails lower fees and faster transaction times for Uniswap users.

9. Ethereum

Launched in 2015 by Vitalik Buterin and a team of developers, Ethereum is a decentralized, open-source blockchain platform that allows developers to build decentralized applications (dApps) and smart contracts. 

Ethereum has a wide range of use cases beyond just a store of value or medium of exchange. Ethereum’s smart contract functionality allows developers to build dApps that can run without the need for intermediaries, like centralized servers or institutions.

The Ethereum platform has gained widespread adoption and has become the backbone of the decentralized finance (DeFi) industry. DeFi applications built on Ethereum allow users to access financial services without relying on traditional banks or financial institutions. Ethereum’s smart contract functionality has also enabled the creation of non-fungible tokens (NFTs), which have gained popularity in the digital art and gaming worlds.

While Ethereum has a strong community and has been highly influential in the cryptocurrency industry, it also faces challenges, such as scalability issues and high gas fees. These issues have spurred the development of various Layer 2 scaling solutions. In the long run, future updates are supposed to massively increase Ethereum’s throughput bringing the transaction per second (TPS) figure from 15 to 100,000.

Why Ethereum?

On May 24th, the Securities and Exchange Commission (SEC) approved the applications for spot Ethereum ETFs. The approval follows a similar decision made by the SEC earlier this year when it approved Bitcoin spot ETFs.

In total, eight Ethereum ETFs were approved, including Grayscale Ethereum Trust, Blackrock’s iShares Ethereum Trust, VanEck Ethereum Trust, and Fidelity Ethereum Fund.

The SEC’s approval of Ethereum ETFs came as a bit of a surprise. Earlier this year, the agency’s comments were mostly focused on Ethereum potentially being classified as a security due to the implementation of the Proof-of-Stake (PoS) consensus. However, in recent weeks, the agency changed its tune, and experts raised the likelihood that Ethereum spot ETFs would be approved from 25% to 75%.

In the days surrounding the critical decision, the price of Ethereum shot up from roughly $3,100 to $3,800 and increased by more than 25%. Ethereum also recorded a very large relative price increase compared to BTC, which gained about 2.5% in the same time period.

ETH significantly outperformed BTC after it became likely that the SEC would green-light Ethereum spot ETFs.

It will be interesting to observe whether ETH follows a similar market trend to Bitcoin after the ETF approvals. When the spot Bitcoin ETFs were approved, BTC was trading at around $46,000, but it quickly gained about 50% in the weeks and months after that and reached as high as $73,000.

10. Lido

Lido is a DeFi project that allows users to earn rewards on their cryptocurrency holdings by staking them on several blockchain networks, including Ethereum, Polygon, and Ethereum’s layer 2 platforms. Staking is the process of locking up cryptocurrency as collateral to help validate transactions and maintain the security of a blockchain network, and in return, stakers receive rewards in the form of additional cryptocurrency.

Users who stake their ETH with Lido receive a tokenized representation of their staked ETH – called stETH – at a 1:1 ratio. StETH represents the user’s share of the total ETH being staked in the Ethereum network, and it can be freely traded on cryptocurrency exchanges. 

One of the benefits of using Lido is that it allows users to earn rewards on their staked ETH without having to run their own staking node, which can be technically complex and require 32 ETH, which is out of reach for most cryptocurrency users. Instead, Lido pools user funds together to create a large validator node, with each user receiving a share of rewards based on their pool contribution. While Ethereum is by far the largest staking pool run by Lido, tokenized versions of other supported tokens are also available (stSOL for Solana, stDOT for Polkadot, etc.).

The Lido project is governed by a decentralized autonomous organization (DAO) controlled by LDO token holders. LDO is used to incentivize participation in the governance process. Overall, Lido aims to make staking more accessible and user-friendly for the average cryptocurrency holder.

Why Lido?

The Lido staking platform has been growing at a very fast pace in recent months. Since January 2023, the total value of locked tokens on the platform has increased from $5.8 billion to $36.5 billion

The lion’s share of locked funds is ETH coins (approx. $36.2 billion), deposited via the liquid staking option provided by Lido. Meanwhile, a much smaller share (about $83 million) belongs to MATIC. Users who stake ETH get stETH in return, which accumulates staking rewards at a rate of roughly 3.3% APY. 

To further expand the stETH ecosystem, the Lido team recently unveiled a proposal for Lido Alliance. The alliance is focused on restaking, which has become very popular with the rise of the EigenLayer protocol. “[Lido Alliance] is a governance process for Lido DAO to identify and recognize projects that share the same values and mission, and have a way to positively contribute to the stETH ecosystem,” wrote the team in its proposal.

Following the announcement of the new Lido framework about two weeks ago, the price of LDO skyrocketed by more than 50%, outperforming most top 100 crypto assets in the same time period.

11. Arkham Intelligence

Arkham Intelligence is a cutting-edge blockchain analytics platform that employs artificial intelligence to provide deep insights into blockchain transactions and activities. Central to Arkham’s capabilities is its AI engine, ULTRA, which de-anonymizes blockchain data, making it possible to track fund flows and uncover the real-world entities behind transactions. The platform is designed to enhance transparency and accountability within the blockchain space, making it more difficult for illicit activities to go undetected.

One of Arkham’s standout features is the Arkham Intel Exchange, the first of its kind, which facilitates a decentralized marketplace for blockchain intelligence. The platform allows users to buy and sell intelligence, and it supports an ‘Intel-to-Earn’ model where contributors can earn rewards for providing valuable data insights. This model is bolstered by Arkham’s native token, ARKM, which is used within the ecosystem for transactions, accessing premium features, and participating in governance through token staking.

Why Arkham?

The Arkham platform saw a slew of developments over the past couple of weeks, most prominently the rollout of token balance charts. The feature allows users to track blockchain balances of any token for any address over time. For example, you can track all inflows and outflows for BlackRock’s Bitcoin ETF or Bitcoin that was seized by the FBI from the Bitfinex hack. These are just some of the more prominent examples, but the bottom line is that the feature allows tracking of any address over time, contributing to greater transparency in the crypto space.

In addition to the token balance feature, Arkham recently revealed that it has partnered with The Open Network (TON). “We’re partnering with The Open Network (TON) to bring Arkham data to millions of TON & Telegram users,” the team wrote in a blog post.

Recent developments have apparently sparked a great deal of interest in the ARKM token in the markers. Over the past 3 months, ARKM gained more than 300%, 55% of which in the past month alone.

12. ZKsync

ZKsync is a layer 2 scaling solution for Ethereum, designed to enhance the network’s scalability, efficiency, and user experience while maintaining the core principles of security and decentralization. Developed by Matter Labs, ZKsync employs zero-knowledge rollups (zk-rollups) to bundle multiple transactions off-chain into a single proof, which is then verified on-chain. This approach significantly reduces gas fees and increases transaction throughput, enabling faster and cheaper transactions compared to the Ethereum mainnet.

One of ZKsync’s key advantages is its compatibility with Ethereum’s smart contracts, making it easy for developers to integrate and deploy their decentralized applications (dApps) without significant modifications. Users can continue using their existing Ethereum wallets with ZKsync, ensuring a seamless transition and broad accessibility.

The security model of ZKsync is robust, leveraging cryptographic proofs to ensure the validity of off-chain transactions. This model maintains the trustlessness of the network, as the zk-rollups can be verified by any Ethereum node, ensuring that the integrity and security of the blockchain are upheld.

Why ZKsync?

After months of waiting, ZKsync’s native token, ZK, was listed on multiple crypto exchanges on Monday, including Binance, Bybit, gate.io, MEXC, KuCoin, and others. The token opened trading around $0.26 and lost about 7% in the first few hours of trading. 

Interestingly, the launch of the platform’s native token saw ZKsync’s TVL dip by over 10% in the past week. Despite the drop, ZKsync Era remains one of the largest Layer 2s on Ethereum, currently accounting for $144 million worth of digital assets locked on its rails.

The ZKsync team plans to distribute the new token to its community via a one-time airdrop. There are nearly 696,000 eligible wallets that will receive their allocated share of ZK. The lowest allocation is 450 ZK, and the maximum allocation is 100,000 ZK (worth about $25,000 at current rates). The exact allocation for each user was based on their individual ZKsync network usage prior to the token’s launch. The token claim process will commence on June 24 and last through January 3, 202

Best cryptocurrencies to buy at a glance

 Native AssetLaunched InDescriptionMarket Cap*
CardanoADA2017One of the largest blockchain ecosystems$15.5 bln
BitcoinBTC2009A P2P open-source digital currency$1.21 tln
StacksSTX2019A layer 2 platform for Bitcoin$2.2 bln
SolanaSOL2020One of the fastest and cheapest L1 blockchains$57.1 bln
AvalancheAVAX2020A leading “Ethereum killer”$11.7 bln
ToncoinTON2020A blockchain designed by Telegram and run by the community$25.3 bln
BNBBNB2017A popular crypto asset enjoying support from the world’s biggest crypto exchange$84.1 bln
UniswapUNI2020The largest decentralized trading protocol$5.4 bln
EthereumETH2015The leading DeFi and smart contract platform$400 bln
LidoLDO2021The leading liquid staking solution for Ethereum$1.9 bln
ArkhamARKM2023A decentralized blockchain analytics platform$368 mln
ZKSyncZK2024A leading layer 2 for Ethereumn/a
 *Data collected on July 15, 2024

Best crypto to buy for beginners

If you are just starting out in crypto, it is advisable to stick to cryptocurrency projects that are less prone to volatility and are generally more established. While this approach does have a downside, as it becomes much more difficult to expect triple-digit or larger gains, the major upside is that you are not exposed to projects that have a chance of failing and, thus, losing your entire investment. 

In order to identify projects that are stable and thus feature low volatility, you can start by following the parameters listed below:

  • The crypto asset has a market capitalization that places it into the cryptocurrency top 100 (roughly $550 million as of early 2024)
  • The crypto asset is available for trading on the best crypto exchange platforms and can be exchanged for fiat currencies
  • The crypto asset boasts healthy liquidity ($100M/day and more), which allows you to execute buy and sell orders quickly and without slippage 
  • The crypto asset is part of a reputable crypto project with clear goals, a realistic roadmap, and products and services that look to address real-world problems

Some of the best cryptos to buy for beginners are those that follow the above criteria and have earned their standing in the crypto market due to robust security, popular products and services, and clear growth potential. Some beginner-friendly crypto investments are:

  • Bitcoin
  • Ethereum
  • Litecoin
  • Cardano
  • BNB

It is worth noting that cryptocurrency investments are inherently risky, even if you stick to the biggest and most reputable projects. The reason for this is simple – the crypto sector is relatively new, and the landscape might look completely different in the future.

Best crypto for long-term

When deciding which cryptocurrency to buy for the long term, it’s important to consider projects that are well-established, have a strong community, are highly liquid, have a large market cap, and have a clear reason for existing (such as solving a real-life problem, introducing new functionality, etc.). Without these characteristics, a project might fail to survive in the long term, rendering it a bad long-term investment.

It is worth noting that, typically, most long-term crypto investors are looking for projects that have the potential to generate decent returns but also provide a degree of investment stability. Roughly speaking, only the largest cryptocurrencies fit the bill, as others have a low market cap and liquidity that doesn’t bode well for a long-term commitment (unless you’re prepared to take on more risk).

In addition to Bitcoin and Ethereum, there are a number of other cryptocurrencies that fit the criteria of being low-risk, long-term crypto investments.

If you are planning to hold onto your digital assets for a longer period of time, it is best to take care of crypto custody yourself. Holding large amounts of crypto on an exchange can be risky, as we’ve seen over the years with the collapse of high-profile exchanges like Mt. Gox and FTX. Use one of the reputable crypto hardware wallets to store your crypto. Ledger hardware wallets, for instance, allow you to manage your crypto holdings easily and provide a much higher degree of security than crypto exchanges or even software crypto wallets.

Best place to buy crypto

One crucial aspect to consider when choosing which platform to use to buy crypto is the range of cryptocurrencies and trading pairs available. Since different exchanges support varying digital assets, it’s important to choose a platform that accommodates the specific cryptocurrencies you intend to trade.

Additionally, assessing an exchange’s liquidity and trading volume is essential. Higher liquidity generally results in improved price stability and faster trade executions. Furthermore, it is prudent to examine the fees charged by the exchange, encompassing deposit, withdrawal, and trading fees. Comparing fee structures across different exchanges can help you identify the most cost-effective option that aligns with your trading style. With that said, here are some of the best exchanges on the market right now:

  • Binance – The best cryptocurrency exchange overall
  • KuCoin – The best exchange for altcoin trading
  • Kraken – A centralized exchange with the best security

By diligently considering these factors, you can make an informed decision and select a cryptocurrency exchange that meets your requirements for security, variety, liquidity, and affordability.

How we choose the best cryptocurrencies to buy

At CoinCheckup, we provide real-time prices for over 22,000 cryptocurrencies, with the list growing by dozens each day. As you can imagine, making a selection of a dozen top cryptocurrencies to buy out of such an immense dataset can be difficult and will for sure lead to some projects that should be featured being omitted. To minimize the chance of that happening, we follow certain guidelines when trying to identify the best cryptocurrencies to invest in.

Availability 

One of the most important factors for any cryptocurrency investment is the crypto asset’s availability, meaning how easy it is to buy and sell it across various cryptocurrency exchanges. We tend to stay away from assets that are not available on major exchanges and require complex procedures to obtain.

Market Capitalization

Another important metric for identifying whether a crypto project is worth covering its market cap. A high market cap means that the project has reached a certain level of adoption from users, making it less risky to invest in.

Growth Potential

While this metric is mostly subjective, it is still an important metric on which we curate our selection. We won’t feature projects that we think are stagnating or have no real upside in the future.

Purpose and Use Case

We consider the purpose and use case of cryptocurrency, particularly in a real-world setting. Some cryptocurrencies focus on specific industries or applications, such as decentralized finance, gaming, or supply chain management.

Team and Development

The team and people involved in the project can tell you a lot about the potential of a particular cryptocurrency project. We examine the team’s experience, expertise, and track record and evaluate the development activity and updates to ensure the project is actively maintained and evolving.

The bottom line: What crypto should you buy right now?

The decision of which crypto to buy now is dependent on your own risk profile and investment goals. For some, investing in a crypto asset with a proven track record like Bitcoin is the only type of exposure to crypto they are willing to take on.

Meanwhile, those with a higher risk tolerance might see Bitcoin as too stable, looking instead toward newer and smaller projects that carry a higher degree of upside. 

If you are looking for more investment ideas, check out our crypto price predictions section.