January 2024: Top Cryptocurrencies to Consider for Investment
The cryptocurrency market is showing bullish signs as we approach January 2024. The industry’s market capitalization has reached $1.62 trillion, driven by the price gains of its representative asset, which is currently hovering around $43,000. If you’re a crypto trader or investor, there are three crypto assets that you should consider for purchase in the upcoming month.
#1 Bitcoin (BTC)
Bitcoin has already surpassed the crucial $43,000 price level, experiencing a 160% increase since the beginning of 2023. However, it may still be profitable to invest in Bitcoin considering the potential bullish rally after the halving event and the potential approval of a spot Bitcoin exchange-traded fund (ETF). Bitcoin is currently trading at $43,184, with a 6.12% increase in the last 24 hours and gains of 3.21% in the previous seven days.
#2 Ethereum (ETH)
Ethereum has also seen significant gains in 2023, surpassing the $2,000 price mark. It is currently priced at $2,240.18, with a 4.16% increase in the day and a growth of 14.13% in the last month. Three out of four ETH holders are currently in profit, making Ethereum an attractive investment option.
#3 Cardano (ADA)
Cardano is another cryptocurrency that has been performing well recently. Its blockchain’s total value locked (TVL) stands at $420 million and reached $444 million on December 14. The price of Cardano is currently at $0.5997, with a daily increase of 9.28%, a weekly gain of 1.85%, and a monthly advance of 59.77%.
Conclusion: A Promising Start to the Year
Considering the previous trends and performance of these digital assets, Bitcoin, Ethereum, and Cardano have strong potential for further price gains in January 2024. However, it is crucial to conduct your own due diligence before making any investment decisions.
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