Since Bitcoin (BTC) vaulted above $50,000 earlier this week for the first time in two years, crypto prices have been pumping and investors have been hunting for the best crypto to buy in the 2024 bull run.
Bitcoin was last consolidating near $52,000, 34% up versus its January lows in the mid-$38,000s.
The world’s largest cryptocurrency pumped in recent weeks amid strong demand for recently launched spot Bitcoin ETFs in the US.
Other bullish narratives that have/are supporting the price include the upcoming halving and expectations for Fed rate cuts this year.
The BTC issuance rate will drop by 50% in April, while easier financial conditions tend to support crypto prices.
Given it could well hit new all-time highs in 2024, Bitcoin is a good candidate for best crypto to buy.
But a rally to new all-time highs would only mark a further 33% rally for the BTC price.
Traders could potentially secure significantly larger near-term gains by investing in lower market capitalization altcoins.
Let’s take a look at some options for the best crypto to buy in the 2024 bull run.
Best Crypto to Buy in the 2024 Bull Run
Pendle (PENDLE)
Pendle (PENDLE), an innovative future yield tokenization and trading protocol, is the best-performing top 100 coin this year.
PENDLE is up a stunning 160% year-to-date as per CoinMarketCap.
Last at $3.13, PENDLE is up over 6x from last summer’s lows under $0.50.
Its rally from its 2022 lows is even more impressive at over 80x.
However, Pendle’s market cap remains modest at under $750 million.
That leaves plenty of room for 10x or more gains as the asset tokenization narrative gains ground.
That potentially makes PENDLE one of the best crypto to buy in the 2024 bull run.
Sui (SUI)
High-performance proof-of-stake layer-1 blockchain Sui ($SUI) that launched back in May 2023 is consolidating close to all-time highs.
SUI was last at $1.79, slightly below record levels around $1.97, up 130% this year.
That means it’s now up around 400% versus last October’s lows around $0.36.
With a still modest fully diluted market cap of around $18 billion, Sui could yet see 5x gains.
That could make it the best crypto to buy in the 2024 bull run.
Meme Kombat (MK)
Well-established but still fairly unknown altcoins like Sui and Pendle can offer investors a great risk reward.
But an alternative investment strategy that risk-tolerant investors could consider is getting involved in crypto presales.
Presales allow pioneering projects to offer native tokens at early bird discounts before public listing sends prices soaring.
While presales carry hazards akin to startup investing, they can offer huge upside potential.
A presale project that the team at Cryptonews has been watching closely is a meme coin called Meme Kombat (MK).
Meme Kombat blends together the worlds of GameFi and GambleFi as characters representing all of the major meme coin communities compete in a fierce battle arena.
To fund the development of its platform, Meme Kombat has been conducting a presale of its native MK token.
And tokens have been flying off the shelf, with the presale fast approaching $9 million in funds raised.
We did it, fighters!
8.9 million raised in the $MK presale pic.twitter.com/ufQf7h6HQq
— Meme Kombat (@Meme_Kombat) February 16, 2024
Potential investors are thus running short on time to get involved before the $10 million hard cap is hit.
Meme Kombat’s wide appeal to meme coin investors, strong presale demand, exciting use case and growing social media interest suggest this token could explode when it launches later this year.
As @BuryCrypto has insightfully pointed out, Meme Kombat’s big moments are just around the corner. Are you prepared for what’s coming?
Watch his latest video nowhttps://t.co/m5h3iSA73r
— Meme Kombat (@Meme_Kombat) February 16, 2024
Flare (FLR)
Data-focused layer-1 blockchain Flare (FLR) is up 80% this year, as per CoinMarketCap.
FLR was last just over $0.031 after recently hitting its highest levels since May 2023 above $0.035.
The cryptocurrency’s strong momentum coupled with its still modest market cap of only around $1.1 billion suggests it has plenty of room to run to the upside as 2024 progresses.
That suggests it could easily be one of the best crypto to buy in the 2024 bull run.
The post Crypto Prices Pump After Bitcoin Passes $50,000 – 5 Best Crypto to Buy in the 2024 Bull Run appeared first on Cryptonews.