These 3 Cryptos Are Ready to Skyrocket #CashNews.co

The first three months of 2024 saw crypto’s total market cap collectively grow by 50%, reaching more than $2.6 trillion, just shy of its all-time high of $2.9 trillion. However, since April, the market has slumped by 23%, with many cryptocurrencies trading near their starting point for the year.

Despite this downturn, the overall trend suggests we’re still in a bull market. History shows momentum will eventually pick up again, and when it does, these three cryptocurrencies are poised to be the biggest winners.

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1. Ethereum: Set for a strong rebound

Among the hardest hit during recent volatility, Ethereum (ETH -1.79%) has seen virtually no gains since the start of the year. For many ETH holders, the stagnant price has been a disappointment as other Layer 1 cryptocurrencies have taken off.

However, it’s crucial to recognize that the cause of this slowdown is temporary. Unlike other cryptocurrencies, Ethereum has an uncapped supply. But rather than just continuously minting new coins, Ethereum goes through phases of inflation and deflation depending on the number of transactions on the network. The more transactions that occur, the greater the number of ETH burned from the supply is. But when transactions slow, supply can grow.

While Ethereum’s supply was deflationary from mid-2022 to the beginning of 2024, around April this year, things flipped, and Ethereum experienced a notable inflation uptick. This, combined with a broad sell-off, has caused Ethereum’s price to struggle.

But it’s important to note that Ethereum’s fundamentals remain incredibly strong. As the most widely used blockchain for decentralized finance (DeFi) applications, Ethereum supports over 50% of the DeFi market and is home to multiple Layer 2 solutions that support even more use cases.

Furthermore, Ethereum ranks near the top in terms of revenue. It generated $2 billion over the past year, far outpacing its competitors. Once its supply shifts back to a deflationary trend, Ethereum is well-positioned for a significant price surge, making it a prime candidate for a rebound when the bull market resumes.

2. Solana: Primed for explosive growth

Solana (SOL -0.66%) has rapidly gained prominence in this bull market thanks to its lightning-fast transaction speeds and low fees. While Solana has grown by over 500% in the past year, it still sits 50% below its all-time high. Yet, the current state of Solana’s network metrics — such as transactions per day, active addresses, and total fees — are all up more than threefold from just a year ago.

Much like Ethereum during the previous crypto bull run, Solana is benefiting from a surge in innovative use cases, ranging from meme coins to Decentralized Physical Infrastructure Networks (DePINs). Its rising popularity in key metrics suggests that Solana is primed for another leap. As the bull market gains traction, Solana could very well take center stage and deliver impressive gains.

3. Aerodrome: The hidden gem

While Ethereum and Solana are well-known, there is a newcomer that is worthy of attention — Aerodrome (AERO). Likely a more speculative play, but one with immense potential, Aerodrome is the dominant decentralized exchange (DEX) on one of the most popular blockchains in the world, Base. Unlike other blockchains, Base doesn’t have its own native token, leaving Aerodrome as the go-to option for investors looking to capitalize on the explosive growth of Base.

Since its launch, Aerodrome has captured over 90% of the DEX volume on Base and ranks among the top revenue-generating protocols in the entire crypto industry. Thanks to its MetaDEX model, which blends elements of popular DEXs like Uniswap and CurveAerodrome is designed to reward its users and token holders, redistributing the significant revenue it generates.

While Aerodrome has seen its price recede by roughly 60% from its peak, this correction presents a prime buying opportunity for those with a higher risk tolerance. Aerodrome could see explosive growth in the next phase of the bull market, driven by its dominance on the most popular new blockchain.