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 September 2024:
- Maker – The DeFi protocol behind the Dai stablecoin
- Sui – Robust and highly scalable L1 blockchain
- Bitcoin – The world’s oldest and largest crypto
- Polygon – A leading crypto scaling ecosystem
- Enjin Coin – A leading NFT gaming project
- Ethereum – The leading DeFi and smart contract platform
- Shiba Inu – A leading meme coin project
- Optimism – Highly scalable DeFi ecosystem
- Arbitrum – A project building Ethereum layer 2 scaling solutions
- Aave – The biggest DeFi lending protocol
- Aptos – A highly performant blockchain featuring Move smart contracts
- XRP – The leading crypto remittance solution
The 12 best cryptos to buy right now: Discover top investments for September 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. Maker
Maker is a decentralized finance protocol on the Ethereum blockchain that issues and manages Dai, a decentralized stablecoin pegged to the US dollar. Users that hold assets that are supported as collateral (for example, ETH) can lock their coins into Maker’s smart contracts in order to issue Dai.
The system is overcollateralized—in order to mint Dai, users need to provide collateral that exceeds the value of minted Dai, and users are required to monitor the value of their collateral in order to avoid liquidation.
The MKR token is used as the governance token for the Maker, a decentralized autonomous organization that oversees the Maker protocol.
Maker was founded in 2014 by Rune Christensen, and the Dai stablecoin was launched in late 2017. Initially, the Maker protocol only supported ETH as collateral. With the launch of Multi-Collateral Dai in 2019, it also became possible to use other forms of collateral. Today, Dai is backed by a diverse range of assets, including ETH, (wrapped) BTC, USDC, USDP, and many others.
Why MakerDAO?
Maker is rebranding to Sky, a move that will see one of the oldest DeFi protocols revamp its products and services offering. Here’s a quick rundown of changes that the rebrand encompasses:
- Maker Protocol is now Sky Protocol.
- MKR token is now SKY token.
- USDS is an upgraded version of the DAI decentralized stablecoin.
- Sky Stars are decentralized projects within the Sky ecosystem that serve as a gateway to the Sky Protocol.
- Sky.Money is a non-custodial and permissionless gateway to the Sky Protocol.
The team has revealed that MKR will be upgraded to SKY on September 18th at a conversion rate of 1:24,000. With the price of MKR currently being around $1,525, a single SKY token should be worth about 6 cents post-upgrade. Meanwhile, USDS will retain its USD peg, meaning that DAI will be exchanged for USDS at a 1:1 ratio. Holders will have the option to voluntarily choose whether to keep their old tokens or exchange them for new ones.
2. Sui
Sui is a layer 1 blockchain focused on scalability and high throughput. Thanks to its robust performance, Sui is positioned to become one of the leading chains in the Web3 and NFT space, challenging the likes of Ethereum and Solana.
Smart contracts on the Sui blockchain are written in the Move programming language, a language developed by a team of Facebook developers who worked on the Diem stablecoin project. Move was first prominently used by the Aptos team, which features a lot of individuals who worked on the Diem project before it was shut down.
The native token of the Sui blockchain is called SUI. The token is used to pay gas fees for transactions, staking, and compensating validators for securing the network, for funding Sui’s storage fund, and for the Sui ecosystem governance.
Why Sui?
The Sui token has been a very strong performer in the past week, recording a 20% upswing amid relatively poor market conditions. There have been several developments in the Sui ecosystem that could be responsible for investors’ optimism regarding the token.
For starters, the Sui team announced earlier this month that they will be selling a “first-of-its-kind” web3 gaming device dubbed SuiPlay0X1. The handheld device – which is similar to the popular Steam Deck – is powered by the AMD Ryzen 7 7840U CPU and comes with a 512 gigabyte SSD. It has 16 GB of RAM and a 7” full HD display. The device will cost $599 and will start shipping in the first half of 2025.
In other related news, 3DOS has partnered with Sui to create a decentralized 3D printing network, enabling users and manufacturers to connect globally for on-demand, local production. Sui acts as the coordination layer, synchronizing real-time production needs and resources. This integration aims to transform the $15.6 trillion manufacturing market by reducing costs, eliminating waste, and empowering local economies.
Finally, it’s worth noting that the Sui team recently significantly improved the way the network handles transactions. According to the blog post, Sui’s shared object congestion control introduces a new system to manage high-demand transactions more efficiently. It prioritizes transactions with higher gas fees and prevents delays by limiting the number of transactions affecting congested, or “hot,” shared objects. The new design allows for deferring and canceling transactions, improving execution order and preventing bottlenecks.
3. 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?
September started on a bad note for the crypto market. Bitcoin slipped below $58,000, Ethereum below $2,500, and the majority of other assets are trading in the red zone. However, this is nothing new for Bitcoin – since 2013, BTC recorded a negative performance in September 8 out of 11 times. On average, BTC lost -4.45% during the month of September.
However, during the months of October and November, Bitcoin has historically performed much better. Since 2013, BTC has gained, on average, +22.9%, and during November, it has gained +46.8%. In other words, September lows might be a good entry point for those who believe BTC will follow this multi-year trend.
Another metric that speaks to BTC being a good buying opportunity at current levels is related to Bitcoin whales. According to Santiment, the number of wallets holding at least 100 BTC increased by 283 in the past month, bringing the total to 16,120. That’s the highest number of 100+ BTC wallets in the past 17 months.
It’s also worth noting that we are now roughly four 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 Price | Highest Price | BTC 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) |
4. Polygon
Polygon, formerly known as Matic Network, is a Layer 2 scaling solution for Ethereum that aims to provide faster and cheaper transactions while maintaining the security and decentralization of the Ethereum network.
Polygon uses a PoS consensus mechanism to validate transactions, which reduces the energy consumption and environmental impact of the network compared to the PoW consensus, which is most prominently used by Bitcoin. By using Polygon, developers can build and deploy dApps with lower fees, faster transaction speeds, and a better user experience.
The native cryptocurrency of Polygon is MATIC, which is used for transactions, staking, and governance on the network. MATIC is an ERC-20 token, meaning it runs on the Ethereum blockchain and can be stored in any wallet that supports ERC-20 tokens.
Polygon has gained popularity in the cryptocurrency industry as a solution to Ethereum’s scalability issues and has been adopted by various dApps, including Aave, Sushiswap, and Curve Finance. The network has also partnered with other blockchain projects, including Polkadot and Chainlink, to enable cross-chain interoperability.
Why Polygon?
The migration of the native MATIC token to the POL token has started, marking the long-awaited technical upgrade of the token. The MATIC token can be converted to POL at a 1:1 ratio. The upgrade will go live on September 4.
If you’re holding MATIC on Polygon PoS, no action from the user is required, as the token migration will be handled automatically. MATIC holders on Ethereum can use the migration tool to manually upgrade their tokens to POL. Meanwhile, centralized exchanges will handle the transition as they see fit, so it’s best to follow their official channels for details.
Here’s what the team wrote about the POL migration in the official post:
“The technical upgrade from MATIC to POL marks a critical juncture for Polygon networks, enhancing utility and aligning with the vision of Polygon as an aggregated network of blockchains. In the initial phase, POL succeeds MATIC as the native gas and staking token for the Polygon PoS network.”
According to Polygon, POL will eventually become the native digital asset for AggLayer, a blockchain system that aims to unite ZK-secured layer 1 and layer 2 chains and foster seamless operations. In their blog post, Polygon has likened AggLayer to the invention of TCP/IP, which created a seamlessly unified Internet. AggLayer’s goal is to do the same for the blockchain space.
5. Enjin Coin
Enjin Coin (ENJ) is a cryptocurrency that operates on the Enjin blockchain. It was created by Enjin, a blockchain gaming company, to facilitate the creation and management of virtual goods and assets within online games and virtual worlds. Enjin Coin utilizes blockchain technology to provide a decentralized, transparent, and secure platform for the gaming industry.
The primary purpose of ENJ is to enable the tokenization of in-game items, allowing players to own, trade, and sell their virtual assets. Enjin uses smart contracts to ensure the authenticity and scarcity of in-game items. These smart contracts define the rules and properties of each item, allowing for seamless peer-to-peer (P2P) trading without the need for intermediaries. Additionally, Enjin Coin supports the creation of non-fungible tokens (NFTs), which are unique digital assets that can represent in-game items, collectibles, and other virtual goods.
Notably, Enjin has partnered with some of the biggest gaming and software companies in the past, including Microsoft, Minecraft, and Square Enix, a Japanese video game production enterprise responsible for titles such as Final Fantasy and Dragon Quest.
Why Enjin?
Enjin is gearing up for a major blockchain update dubbed Kampong Glam. The upgrade will see the launch of Enjin Relaychain v1.3 and Enjin Matrixchain v1.1 on the Enjin mainnet. The upgrade is slated to start on September 9 at 2:00 PM UTC and is expected to last about 16 hours.
According to the official post on X, the upgrade will bring several notable improvements, including the return of Enjin Coin infusions, a new NFT bidding feature, and improvements meant to streamline ecosystem economics.
Here’s the full list of upgrades coming with Kampong Glam, as documented in the official blog post:
- Optional infusion of Enjin Coin (ENJ) into Enjin multi-tokens, similar to the ability to mint non-fungible tokens (NFTs) infused with ERC-20 Enjin Coin on Ethereum;
- Reduction of costs to issue NFTs of multiple quantity, and streamlining of NFT functions;
- Optimization of fuel tank management by developer accounts;
- Ability to create offers for NFTs not already listed on the Marketplace pallet; and
- Polkadot OpenGov style governance.
At the time of writing, ENJ was trading at $0.143, up over 4.3% in the last 24 hours.
6. 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.
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
7. Shiba Inu
Shiba Inu is a cryptocurrency that was created in August 2020 by an anonymous person or group of people under the pseudonym “Ryoshi”. It is an ERC-20 token on the Ethereum blockchain, which means it is a digital asset that is compatible with the Ethereum network and can be stored in any wallet that supports ERC-20 tokens.
Shiba Inu gained popularity in 2021 after it was listed on several cryptocurrency exchanges and gained attention on social media platforms like Twitter and Reddit. In fact, SHIB’s 2021 run is still one of the most impressive runs in crypto history, as the meme coin gained over 430,000x in a span of the year. It is often compared to Dogecoin, another meme-inspired cryptocurrency, as it features the Shiba Inu dog breed as its mascot.
However, unlike Dogecoin, the project aims to create a decentralized ecosystem for a variety of use cases, including decentralized exchanges, NFTs, and more. The development team has also created a Shiba Inu-themed decentralized exchange called ShibaSwap.
Why Shiba Inu?
LUCIE, the marketing lead behind the Shiba Inu project, has announced the upcoming launch of a decentralized autonomous organization (DAO). “While the DAO hasn’t been fully implemented yet, its introduction will mark a major milestone, giving Shibizens more control over decisions that impact the ecosystem,” she wrote in the post on X.
According to LUCIE, SHIB’s governance under the DAO structure will be handled by the Charity Council and the Culture & Heritage Council, although their specific roles are currently not known. “These councils will steer community initiatives, from charitable outreach to preserving the unique culture that defines Shib,” LUCIE wrote.
Interestingly, the announcement of the new DAO marks exactly one year since the launch of Shibarium, a layer 2 solution for the Shiba Inu ecosystem. In the first year, the protocol processed 418 million transactions, although the number of daily transactions dipped over the past couple of months.
With last year’s launch of Shibarium and the upcoming rollout of the DAO governance, Shiba Inu is rapidly becoming the most versatile community-led decentralized finance (DeFi) ecosystem in the industry.
8. Optimism
Optimism is a layer-2 scaling solution for the Ethereum blockchain that uses optimistic rollups to increase the speed and lower the cost of transactions on the network.
Optimistic rollups are a type of sidechain that allows for the processing of a large number of transactions off-chain before committing them to the main Ethereum network. This approach significantly reduces transaction fees and speeds up the processing of transactions on the Ethereum network.
Optimism aims to improve the Ethereum ecosystem by reducing the high gas fees associated with transactions, which have been a significant bottleneck for the adoption of decentralized applications (dApps) on the Ethereum blockchain. It does this by enabling faster and cheaper transactions while still maintaining the security and trustlessness of the Ethereum network.
Last year, the Optimism team launched the project’s native token Optimism (OP), a governance token for the Layer 2 network that gives holders participation rights in The Optimism Collective. The Collective is a two-tier governance system composed of the Token House (overseeing technical decisions related to Optimism) and the Citizens’ House (overseeing funding decisions).
Why Optimism?
Optimism has announced that the Sony-led Soneium project has launched on the Optimism Superchain. Soneium is a new Ethereum Layer 2 blockchain being developed by Sony Block Solutions Labs, a joint venture between Sony Group and Startale. It is built using the OP Stack, which is the underlying technology of Optimism.
Soneium is designed as a versatile, general-purpose network aimed at bridging the gap between traditional Web2 applications and emerging Web3 technologies. Its primary focus is on empowering developers, creators, and communities, with an emphasis on applications in entertainment, gaming, and finance. Soneium is planned to be a public blockchain that will be part of the Optimism Superchain, a network of interconnected blockchains that share a common codebase.
It’s worth noting that another event that could have a notable impact on the market performance of the OP token is the planned token unlock. At the end of this month (Aug 31), roughly $49 million worth of Optimism tokens will be unlocked. This will likely have a deflationary effect on the price of OP, which could provide investors with an opportunity to buy tokens at lower price levels.
9. Arbitrum
Arbitrum is a project developing layer 2 scaling solutions for Ethereum, aiming to provide users with faster and more affordable transactions while maintaining the security of the Ethereum network.
The project’s flagship platform is Arbitrum One, a general-purpose layer 2 built on Optimistic rollup technology. Arbitrum has also introduced Arbitrum Nova, a layer 2 designed for applications needing high transaction throughput and extremely low fees, though it offers less decentralization than Arbitrum One.
The technology behind Arbitrum’s platforms is called Arbitrum Nitro, which includes Arbitrum Rollup, Arbitrum Orbit, and Arbitrum AnyTrust.
Launched in August 2022, Arbitrum One quickly became a leading layer 2 solution for Ethereum. Its efficient transaction processing has enabled it to host unique decentralized applications, with the GMX decentralized derivatives exchange being a notable example. Many well-known Ethereum protocols, such as Uniswap, Aave, and SushiSwap, have also deployed on Arbitrum to give users to a more cost effective alternative.
Why Arbitrum?
The Arbitrum DAO has passed a temperature check proposal aimed at boosting the utility of the ARB token by creating a staking system for ARB. Under this proposed system, ARB token holders would be able to delegate their tokens to active participants in governance and receive rewards in return.
From a technical standpoint, the proposal involves the introduction of a liquid staked token called stARB, which would be facilitated through the Tally protocol. This would provide ARB stakers with access to auto-compounding rewards and allow them to engage in DeFi activities while still staking their tokens.
According to the proposal, one of the main drivers for the staking initiative is that the ARB token has been “struggling to accrue value.” In fact, ARB has been one of the poorest performers among the top 100 cryptocurrencies this year, currently reflecting a disappointing year-to-date decline of -65.4%.
In total, 145 million ARB tokens were cast in favor of the proposal, 13 million ARB voted to “Abstain,” and only about 13,000 ARB were cast against it. This demonstrates strong support for the introduction of ARB staking, which could be the catalyst needed to reverse the token’s recent decline.
10. Aave
Aave is a decentralized liquidity protocol that utilizes smart contracts to enable users to either borrow crypto assets or earn interest on their holdings in a decentralized fashion. While Aave operates as a series of smart contracts on a blockchain, most users engage with the protocol through interfaces like app.aave.com.
As of now, Aave allows users to earn yield on roughly 20 different cryptocurrencies. Typically, stablecoins like USDT, USDP, and TUSD offer the highest returns. The yields available through Aave are influenced by market demand—when there’s high demand for borrowing a specific asset, the APY for those supplying that asset increases.
Additionally, Aave provides a staking option for holders of its AAVE governance token. This feature allows AAVE holders to earn yield while also enhancing the security of the Aave protocol.
Originally launched on the Ethereum blockchain, Aave has since expanded to other platforms including Avalanche, Optimism, Polygon, and Arbitrum.
Why Aave?
The Aave protocol recently reached an all-time high in active weekly borrowers, even as the largest cryptocurrencies have seen sideways market movement. This growth has been fueled by activity on layer 2 platforms, particularly Base, Scroll, and Arbitrum.
In addition to setting a new record for weekly borrowers, Aave founder Stani Kulechov highlighted that the protocol is also nearing an all-time high in weekly depositors.
Another encouraging development for Aave is its upcoming launch on ZKsync, an Ethereum layer 2 that leverages ZK (zero-knowledge) rollup technology. In a recent governance vote to activate Aave v3 on ZKsync, 778,000 AAVE tokens were cast in favor, with no opposition votes.
The AAVE token has surged 19% over the past 7 days, making it the second-best performer among the top 100 cryptocurrencies by market capitalization.
AAVE has also demonstrated strong medium-term resilience, gaining 12.1% over the last three months, while both Bitcoin (-18.2%) and Ethereum (-29.7%) experienced significant declines during the same period.
As of now, Aave ranks as the third-largest decentralized finance protocol by total value locked (TVL), with more than $11.4 billion worth of assets deposited.
11. Aptos
Aptos is a cutting-edge layer 1 blockchain platform that prioritizes both scalability and security. The platform uses a modular design to manage various aspects of transactions simultaneously, including metadata sequencing, transaction execution, and data storage. After several incentivized test phases, the Aptos mainnet officially launched in October 2022.
The team behind Aptos originates from Diem, a blockchain-based stablecoin project initiated by Facebook in 2019, which was discontinued due to regulatory challenges. Aptos is built using Move, a programming language designed specifically for smart contracts with a focus on security. This language provides developers of decentralized applications with tools to prevent many common issues seen in existing smart contract languages.
With its scalable technology, the Aptos blockchain can deliver very low transaction fees and achieve high transaction throughput.
Why Aptos?
Tether, the leading stablecoin issuer, has announced that its flagship USD-pegged token, USDT, will soon be available on the Aptos blockchain.
In their statement, the Tether team emphasized Aptos’ speed and scalability, while also highlighting the significant rise in daily users on the platform since the start of 2024. The average number of daily active users on Aptos grew from 96,000 in January to 170,000 in July.
Tether CEO Paolo Ardoino commented on the partnership with Aptos, saying:
“Aptos’ innovative technology offers a solid platform for facilitating faster and more cost-effective transactions with USDT. This collaboration underscores our ongoing efforts to lead with innovation and support our users with stable, reliable financial tools.”
Beyond the launch of USDT, another major development for the Aptos ecosystem could be the potential launch of DeFi giant Aave. In July, the Aptos Foundation proposed deploying Aave v3 on the Aptos mainnet. If approved, this would mark Aave’s first deployment on a non-EVM (Ethereum Virtual Machine) compatible blockchain.
As of now, APT, the native token of the Aptos blockchain, ranks as the 31st largest cryptocurrency by market capitalization, valued at $2.5 billion. However, the token has faced challenges recently, having dropped around 20% against the US dollar in the past month.
12. XRP
XRP is a digital cryptocurrency that was created by Ripple Labs in 2012. It is used as a means of payment and transfer of value on the Ripple payment protocol, which is designed to enable fast and secure transactions between financial institutions, as well as individuals.
XRP is unique in that it is not based on the blockchain technology used by many other cryptocurrencies. Instead, it uses a distributed consensus ledger called the XRP Ledger, which is maintained by a network of validators. This allows for faster transaction processing times and lower fees compared to traditional payment methods.
XRP has been popular among cryptocurrency traders and investors due to its high liquidity and clear potential for broader adoption, especially as a remittance solution. However, it has also been the subject of controversy and legal action, with US regulators alleging that it is a security and should thus be subjected to securities regulations. This has somewhat hindered the potential of XRP as an investment, and handcuffed Ripple’s growth as a company.
Why XRP?
After years of litigation, Ripple Labs has been ordered by a Manhattan court to pay the U.S. Securities and Exchange Commission (SEC) $125 million in penalties for improperly selling the cryptocurrency XRP, marking the end of a prolonged legal saga.
The lawsuit accused Ripple, its CEO Brad Garlinghouse, and co-founder Chris Larsen of illegally raising over $1.3 billion through an unregistered securities offering. Although the SEC initially sought $2 billion in fines, the final penalty is significantly lower.
The case has been closely monitored as one of the most significant in the cryptocurrency sector. The crypto community largely perceives the ruling as favorable for Ripple and the crypto industry in general. The XRP token exploded by nearly 30% within hours of the ruling, highlighting the industry’s excitement.
In other related news, Ripple is set to allocate $10 million in tokenized U.S. Treasury bills on the XRP Ledger, marking the first issuance of such tokens on this platform. The T-bills will be issued as TBILL tokens by the tokenization platform OpenEden, with assets backing these tokens being invested in short-dated U.S. Treasuries and reverse repurchase agreements collateralized by U.S. Treasuries.
Speaking about the new initiative, Senior Vice President at Ripple X, Markus Infanger, noted: “OpenEden’s tokenized US Treasury bills represent another exciting example of how all types of real-world assets are being tokenized to drive utility and new opportunities.”
According to the blockchain analytics website DeFiLlama, OpenEden’s total value of their tokenized T-Bills currently stands at $92.1 million.
Best cryptocurrencies to buy at a glance
| Native Asset | Launched In | Description | Market Cap* | |
| Polygon | MATIC | 2017 | A leading crypto scaling ecosystem | $4.02 bln |
| Enjin Coin | ENJ | 2018 | A leading NFT gaming project | $209 mln |
| Shiba Inu | SHIB | 2020 | A leading meme coin project | $8.83 bln |
| Bitcoin | BTC | 2009 | A P2P open-source digital currency | $1.16 tln |
| Helium | HNT | 2019 | Blockchain-based IoT platform | $1.21 bln |
| Optimism | OP | 2022 | Highly scalable DeFi ecosystem | $330 mln |
| Arbitrum | ARB | 2022 | A project building Ethereum layer 2 scaling solutions | $1.43 bln |
| Aave | AAVE | 2020 | The biggest DeFi lending protocol | $1.63 bln |
| Aptos | APT | 2022 | A highly performant blockchain featuring Move smart contracts | $2.60 bln |
| XRP | XRP | 2012 | The leading crypto remittance solution | $32.1 bln |
| Ethereum | ETH | 2015 | The leading DeFi and smart contract platform | $312 bln |
| Fetch.ai | FET | 2019 | The largest AI-focused crypto token | $3.30 bln |
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.
