The cryptocurrency market has seen its fair share of ups and downs over the years, with extreme volatility being a defining characteristic. While this can make it a risky space for investors, it also presents opportunities for those who can identify promising projects and assets. As we look ahead to 2024, three cryptocurrencies are gaining significant attention as potential frontrunners in the next bull run: El Hippo, Binance Coin (BNB), and Ripple (XRP). In this article, we will explore these coins and the factors that make them stand out.
El Hippo (HIPP)
El Hippo is a new meme coin that launched in August and is already making waves on social media. The project is launching a $10,000 airdrop this week and gives away $700 every two weeks through a Zealy campaign – the persistence in rewarding the community has paid off, resulting in a very active fanbase that creates and shares new hippo memes every day.
For a meme coin, this is crucial, as are the 21,000 Twitter followers amassed in just a few months. The potential for a meme coin with a happy, well-rewarded fanbase to go viral is immense, reminding many analysts of SHIB and FLOKI in the very early days of those projects, and making El Hippo our top pick for a 2024 bull run.
Price action has been choppy and volatile, with plenty of trading action, and is now trending upwards as shown on the monthly chart. Meme coins are driven entirely by social media activity, and seeing as successful meme coins have gone 1000x in days in the past, this coin could be ready to blow at any second. It’s worth noting that this is the riskiest pick on the list, as well as the coin with the potential for the largest gains.
Binance Coin (BNB)
Binance Coin (BNB) is the native cryptocurrency of the Binance cryptocurrency exchange, the largest crypto exchange in the world. BNB has demonstrated its resilience and growth potential over the years and remains a top contender for the next bull run. Key reasons why BNB is favored by investors include use-case versatility, strong backing, and a decentralized finance use case.
BNB can be used for various purposes within the Binance ecosystem, including trading fee discounts, staking, participating in token sales, and more. This versatility has contributed to its demand and utility. As one of the leading cryptocurrency exchanges globally, Binance provides a strong foundation for BNB’s success with unparalleled brand awareness for a utility token. The exchange continues to expand its services and offerings, which could positively impact BNB. Finally, Binance has shown interest in the DeFi sector, and BNB’s role in this space could increase its prominence as DeFi continues to grow.
The coin has already risen $20 this month to $228. While the coin was kept down due to regulatory blowback that has seen Binance scale back operations in the US and UK, Binance remains essentially the most powerful company in crypto, and the recent price spike may just be the beginning of the next big bull run for the coin.
Ripple (XRP)
Ripple (XRP) is another cryptocurrency with the potential to shine in the 2024 bull run. Despite facing regulatory challenges in the past, it has maintained its presence in the market, primarily due to its focus on cross-border payments and financial institutions.
Ripple has formed partnerships with numerous financial institutions, including banks and payment service providers, demonstrating the utility and demand for XRP in the traditional finance sector. Cross-border efficiency: XRP’s ability to facilitate quick and low-cost cross-border transactions remains an attractive feature, and it could gain further traction as global finance looks to improve international payment systems.
Ripple made it to the list due to securing partial victories already in its lawsuit with the SEC, as well as a clearly upward price trend forming on the chart. While this project is too well known to ever blow up in the way that the likes of El Hippo may be about to spike, it is a fairly reliable choice with excellent brand awareness throughout the space.
When Will Crypto Bull Run Start?
As the cryptocurrency market evolves and matures, opportunities continue to emerge for investors. In 2024, El Hippo, Binance Coin (BNB), and Ripple (XRP) are emerging as potential frontrunners in the next bull run. As a meme coin, El Hippo could blow up even sooner. These coins offer unique features, strong use cases, and the potential for substantial growth.
However, it’s essential to remember that the cryptocurrency market is highly volatile, and investing in these or any other cryptocurrencies carries inherent risks. Make sure to conduct thorough research and consult with financial experts before making any investment decisions.
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