The number of cryptocurrencies on the market is astronomical.
With over 10,000 different coins and tokens to invest in, finding a profitable crypto with a high potential for future growth could seem like finding a needle in a haystack!
Number of Cryptocurrencies Worldwide From 2013-2024
When looking for profitable cryptos, it is best to consider the current project, how it functions in the real world, if it has a growing community, and its market performance.
For example, a coin with a low circulating supply compared to its total supply might have room to grow, while another coin with mass adoption could indicate a rise in value because of its demand.
In this post, we will walk you through how to find the most profitable cryptocurrencies in 2024 using tools like CoinMarketCap.
We will share our top 7 picks for the most profitable cryptocurrencies according to market cap today and give you tips on what to consider when picking a new crypto investment.
Key Points: Vocabulary to Know
Profitable:
In crypto, a profitable asset creates a return on an initial investment over time. It can be measured by how the price of a cryptocurrency has increased compared to its purchase price. Its short-term spikes are not necessarily considered but rather its consistent growth over time.
What Factors Affect Profitability?
Price Trends:
Are the direction in which the value of a cryptocurrency moves over a specific period. This can be upward (bullish), downward (bearish), or sideways (neutral). This is a valuable factor to consider when trying to predict future crypto trends.
Market Cap:
Market capitalization, known as Market Cap, is the total value of a cryptocurrency. It is calculated by multiplying the current price of one coin by its circulating supply. It’s a representation of the overall size and value of a cryptocurrency within the market. A large market cap usually means a more stable coin. On the other hand, a small or mid-sized market cap can suggest more room for growth but also higher risk. Bitcoin has the largest market cap, making it a more secure and less volatile investment.
Supply (Circulating vs. Max Supply):
Circulating Supply is the number of coins or tokens that are currently available and traded in the market. While Max Supply is the maximum number of coins that will ever exist for a cryptocurrency.
How to Find the Most Profitable Cryptocurrencies: Step-by-Step Guide Using CoinMarketCap
When you are in search of investing in a new and profitable cryptocurrency, CoinMarketCap is a great tool to help you make informed choices. It is an online platform that shares up-to-date market data, including price trends, current market cap, and supply.
Here is a guide on how to use CoinMarketCap to find profitable cryptocurrencies today:
1️⃣Go to CoinMarketCap.com
You do not need to register to use the basic features of this site.
2️⃣Filter by Market Cap
Once you’re on the homepage, you will see filter options in the top right-hand corner. Click on the “customization” button. This will allow you to filter current cryptos by market cap size.
Depending on your strategy, you will want to simply filter the highest to lowest market cap or search for mid-size market cap crypto to maximize the growth potential.
In our example, we are going to demonstrate the most profitable cryptocurrencies for year-to-date.
3️⃣Select Circulating Supply & Recent Performance
You will want to customize the filters to indicate YTD%, current market cap, volume, circulating supply, and for how many days you want the chart to demonstrate its findings.
When you have made your selections, click on “Apply Changes.”
4️⃣Check Recent Performance
Make sure to click on the YTD% button to re-order your findings. This will give you an ordered list of profitable cryptocurrencies based on the selected features we indicated.
5️⃣Read Findings for Long-Term Potential
Now that you have the information, it is time to read and understand what it all means.
You will want to assess a coin’s circulating supply with its maximum supply. This will give you clues into the potential growth possibility of a coin.
⚠️Remember, if a supply is near saturation, it will be more stable but less likely to grow significantly.
Checking a coin’s performance from the last 7 days or year to date is another big indicator of how well or poorly it is performing. This is a great tool to see if there is consistent growth over time.
❗Remember that sudden growth and spikes can mean quick profit, but they can also indicate a quick loss if it is extremely volatile.
The 7 Most Profitable Cryptocurrencies to Invest in 2024
Here’s a curated list from CoinMarketCap of the top 7 most profitable cryptocurrencies to invest in right now.
These coins have recently shown substantial growth in the last year and we have indicated their last 7-day performance. They can have a strong potential moving forward based on their current market stats.
1. Popcat (POPCAT)
Over the last year and more specifically the past 7 days, Popcat has seen a lot of growth. It has a low circulating supply compared to its maximum supply, which indicates that it has plenty of room to grow. However, it is volatile and best suited for high-risk, high-reward investors.
Last 7 Days %: 8093.21%
Market Cap: $650,982,886
Circulating Supply: 195,324,290 out of 979,973,185 POPCAT
2. MANTRA (OM)
MANTRA is showing the most growth through the DeFi space with major YTD growth. It is still in its early days, but this also indicates a greater potential for adoption and growth.
Last 7 Days %: 1834.79%
Market Cap: $952,812,102
Circulating Supply: 25,711,641 out of 842,499,555 OM
3. Dogwifhat (WIF)
Known as a “meme coin” like Shiba Inu and Dogecoin, Dogwifhat is showing to be a volatile coin that seems to be a good short-term investment. It has a low circulating supply and has shown high performance. This can be a risky buy but has the potential for very high returns.
Last 7 Days %: 905.24%
Market Cap: $1,534,067,471
Circulating Supply: 126,570,571 out of 998,845,521 WIF
4. Pepe (PEPE)
This is another “meme” based token that has received a lot of attention because of its cultural significance in the world of crypto. It has a responsible price, making it an attractive investment for short-term buyers.
Last 7 Days %: 468.00%
Market Cap: $3,097,199,668
Circulating Supply: 44,723,626,298,469 out of 420,689,899,999,995 PEPE
5. Ondo (ONDO)
Ondo has had steady growth over the last year and still maintains a low circulating supply. It has gradually been climbing in market cap which means it could become a stable investment coin compared to other volatile ones on this list. Ondo shows good promise for any investor who is looking for a growth-orientated coin.
Last 7 Days %: 288.55%
Market Cap: $873,111,294
Circulating Supply: 68,431,351 out of 1,389,759,838 ONDO
6. FLOKI (FLOKI)
Yet another “meme coin” that has been largely talked about, it has shown impressive short-term gains. Our only worry here is its huge maximum supply, which might put a limit on long-term returns.
Last 7 Days %: 252.73%
Market Cap: $1,184,170,116
Circulating Supply: 864,818,136,867 out of 9,585,255,594,791 FLOKI
7. JasmyCoin (JASMY)
This is a coin that focuses on data security and has grown in the decentralized data solutions sector. It currently has a low circulating supply, meaning that there is great growth potential. This is a good option for investors who want real-world use cases from their crypto.
Last 7 Days %: 204.14%
Market Cap: $982,738,413
Circulating Supply: 2,485,162,538 out of 49,299,999,677 JASMY
The Long-Term Queens of Crypto: Bitcoin and Ethereum
While our top 7 list shows the most appealing cryptocurrencies to invest in based on current market cap and short-term gains, it is important to bow down to the long-term queens of crypto: Bitcoin and Ethereum.
These two have demonstrated their power and potential for over a decade and are considered the “safest” options for Crypto investing in the long term.
Why Are They Better for Long-Term Holding?
BTC and ETH are top market-cap cryptocurrencies. Bitcoin is considered a valuable asset and is even considered a valuable commodity to hedge against inflation. While investing in Ethereum on the other hand, is showing amazing growth in the decentralized app, smart contracts, and DeFi space.
Unlike the other coins on the list, Bitcoin and Ethereum are perfect for growing over time.
Bitcoin and Ethereum Market Cap Comparison YTD%
Securely Storing Your Long-Term Investments
When holding Bitcoin and Ethereum, security needs to be your top priority.
To safely store these large-cap coins, cold hardware wallets are the most secure method of storage. Material Wallets are specifically designed to keep your Bitcoin or Ethereum safe from any online threats. As they are completely offline, these cold storage wallets ensure that your long-term investments remain secure.
Strategies to Maximize Profitable Cryptocurrencies
Diversification: Don’t rely on investing in one coin. You must balance your portfolio with high-risk, high-reward cryptos and safer long-term assets like Bitcoin and Ethereum.
Dollar-Cost Averaging (DCA): Invest small amounts regularly over time. This will help to reduce the risk of market volatility.
Watch the Market: Stay updated on market trends with Bitcoin monthly returns and Ethereum analysis charts.
👍 Pro Tip: Set up stop-loss orders to minimize potential losses during market downturns.
Use Secure Cold Wallets: Keep your digital assets safe with secure cold hardware wallets, especially for long-term investments like Bitcoin. This guarantees protection from online threats.
What Is the Most Profitable Cryptocurrency for 2024?
In 2024, the most profitable cryptocurrency depends on your investment goals. Meme coins like Popcat and FLOKI can provide exciting short-term gains but they come with high volatility.
If you are looking for a more stable and “peaceful” long-term profitability, crypto assets like Bitcoin and Ethereum are safer investments.
In the end, the best crypto for you totally depends on your risk tolerances and future objectives. Diversifying with both types of assets can help to balance the risks of growing market cap cryptos with long-term rewards.
FAQs
What is the most profitable cryptocurrency right now?
- Based on recent performance, Popcat (POPCAT) has the largest gains over the past 7 days. However, speaking of long-term profitability, Bitcoin remains the top dog of crypto.
How can I find profitable cryptocurrencies?
- Use tools like CoinMarketCap to analyze market cap, circulating supply, and recent price performance.
Is investing in meme coins a good idea?
- Meme coins can provide large short-term returns, but they are also can carry more risk.
What is the best long-term cryptocurrency investment?
- Bitcoin and Ethereum remain the top choices for long-term profitability.
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