It is believed that with advancement day by day, the cryptocurrency market has emerged anew, and September 2024 holds a lot of new investment opportunities for the fresher and the professional investor.
Now let’s start up with the top 10 cryptos to invest in September, along with their current price, market cap, year-over-year return, pros and cons.
Keep reading, keep learning!
Top 10 Cryptos to Invest in September
Bitcoin (BTC)
1. Bitcoin (BTC)
The most visible, foremost cryptocurrency, Bitcoin is also called as “digital gold.” As a point-to-point decentralized network with aggregate supply capped at 21 million coins, the cryptocurrency could easily be considered as an investment haven.
- Price: $59,658
- Market Cap: $1.18 trillion
- Year-over-Year Return: 50%
Pros:
- Store of Value: Dubbed “digital gold,” Bitcoin has been perceived as a protection against inflation.
- Decentralized: The system is always on a decentralized network and hence reduces or eliminates much manipulation of information by some form of central authority.
- Self-Custody: Ownership purely lies in the hands of owners themselves, free from any interference of third-party players.
Cons:
- High Volatility: Prices tend to go crazy and hence may incur losses.
- Regulatory Concerns: They are also under the skeptical radar of governments, which in one way or another hurts its complete acceptance.
- Competition: Other cryptocurrencies may boast better technology or more features.
Related: How to Buy Bitcoin on eToro App
Ethereum (ETH)
2. Ethereum (ETH)
Ethereum has been used most in quantity for several dApps and smart contracts on blockchains. Ethereum further upgraded to Ethereum 2.0, during which it became further scalable and friendly to energy use; hence, it may be considered a cornerstone in the ecosystem of blockchains.
- Price: $2,553
- Market Cap: $307 billion
- Year-over-Year Return: 60%
Pros:
- Smart Contracts: Lead the first-ever usage of smart contracts, which have since been covered by many more dApps.
- Active Development: Continuous cycles of improvements just like Ethereum 2.0 keep scaling and become higher in efficiency.
Cons:
- High Transaction Fees: Times of congestion in the network may forcibly result in higher gas fees.
- Scalability Issues: Heavy use has caused several slowdowns in transaction speed.
Related: The genius behind Ethereum and much more
Binance Coin (BNB)
3. Binance Coin (BNB)
Well, native to Binance exchange; it is one of the largest cryptos in the world. This makes it a very useful asset due to its utility in trading fee discounts and participation in token sales.
- Price: $488
- Market Cap: $71 billion
- Year-Over-Year Return: 30%
Pros:
- Low Transaction Costs: Have lower listing fees on the Binance exchange.
- Strong Ecosystem: The driving force for BNB Chain hosts many different applications.
Cons:
- Centralized: Wholly owned and operated by Binance raises questions of centralization.
- Regulatory Risks: Also puts it under the scrutiny of regulators around the world.
Solana (SOL)
4. Solana (SOL)
Fast transaction times and very low transaction fees are two attributes that have made Solana a blockchain of choice among developers to build on their dApps.
- Price: $153
- Market Cap: $71.7 billion
- Year-over-Year Return: 120%
Pros:
- High-Speed: Thousands of transactions per second can be processed on it.
- Low Fees: Very minimal fees are deducted for the transaction, therefore attracting the developers towards it.
Cons:
- Network Outages: The network had experienced downtime that raised questions about the reliability of the networks.
- Competition: Tough competition from other layer 1 blockchains.
Related: Best Solana Meme Coins
Ripple (XRP)
5. Ripple (XRP)
Ripple targets on cross-border payments over its unique consensus algorithm. While the legal fights are still looming, XRP is strong in the market, a partnership with financial institutions made sure there is a potential for its growth.
- Price: $0.6
- Market Cap: $34 billion
- Year-over-Year Return: 40%
Pros:
- Cross-border Payments: Fast and inexpensive international transactions.
- Partnerships: It is partnered with several financial institutions further giving it legitimacy.
Cons:
- Legal Challenges: The pending lawsuit with the SEC puts a question mark on its future.
- Concerns about the Centralization: It is seen to be highly centralized when compared with other cryptos.
Dogecoin (DOGE)
6. Dogecoin (DOGE)
Originally, it was developed as a meme coin. It has garnered an enormous following and saw quite some market traction. Generally community-driven approach, and the endorsements form the celebrities has made it a investment-worthy option.
- Price: $0.10
- Market Capitalization: $14.3 billion
- Year-over-Year Return: 15%
Pros:
- Strong Community: Very enthusiastic and active user base.
- Low Entry Cost: Very low entry cost, hence allowing new investors to buy in.
Cons:
- Lack of Utility: The usefulness of the project is just for community sentimental values and an lacks of fundamental use cases.
- Inflationary Supply: Unlimited supply might drive the valuation down in the longer run.
Related: How to mine Dogecoin
Polkadot DOT
7. Polkadot DOT
By its mere design, the Polkadot achieves interoperability through its myriad forms of blockchains in sending messages and values amongst each other in a trust free manner. Of course, there is no limit to the opportunities still lurking as growth in demand for interoperable solutions of blockchains
- Price: $4.67
- Market capitalization: $6.9 billion
- Year-on-year return: 80%
Pros:
- Interoperability: As would be expected from its positioning, it holds functionality between various blockchains to communicate and share the information.
- Dev-friendly: This feature-rich platform attracted the interest of developers to build applications upon it.
Cons:
- Competitive Market: It faces tough competition from many players focusing in interoperability.
- Complexity: This technology is hard for new users to understand.
Cardano (ADA)
8. Cardano (ADA)
Cardano is a blockchain firm, known for its research-driven approach. The coin promotes sustainability and scalability; hence, it is an attractive investment.
- Price: $0.33
- Market Cap: $11 billion
- Year-over-Year Return: 25%
Pros:
- Research-Driven Development: It can improve blockchain with the support of academic research.
- Energy Efficiency: In general, its proof-of-stake consensus requires much less energy use, thus inflicting minimal damage to the environment.
Cons:
- Slower Development: It bears the criticism of taking too long to implement the features in comparison with other competitors.
- Market Adoption: Generally, there are apprehensions with regard to mainstream adoption of its platform.
Avalanche (AVAX)
9. Avalanche (AVAX)
Avalanche also hosts DeFi and enterprise blockchain solution deployment. The blockchain has a uniquely designed consensus mechanism touted to have high throughput at low latency.
- Price: $20.6
- Market Cap: $8.1 billion
- Year-over-Year Return: 90%
Pros:
- High Throughput: It supports thousands of transactions per second.
- Flexible Architecture: It has support for a lot of blockchains and numerous decentralized apps.
Cons:
- Newer Technology: Especially being comparatively new, it still has to fight hard to win people’s confidence in the market.
- Competition: Facing very tough competition from the already established platforms like Ethereum and Solana.
Toncoin (TON)
10. Toncoin (TON)
The origin is from Telegram Open Network, Toncoin has been in the limelight due to the fact that it can integrate one of the most utilized messaging applications, Telegram. Advanced features, community support, with regular development in its ecosystem, mean this is assumed to be one of the promising investments you are likely to make.
- Price: $1.2
- Market Cap: $ 5 billion
- Year-over-Year Return: 100%
Pros:
- Integration with Telegram: It can hold a huge number of users due to its popularity.
- Creative: Fast and secure transactions.
Cons:
- Regulatory Uncertainty: Hard to comply with; Its acceptance Is yet to come.
- Limited Adoption: Still in development phase, it needs to reach more for better adoption.
Conclusion
Any investment in cryptocurrencies should be made after due consideration of the market trend and fundamental aspects of an individual project. The aforementioned cryptocurrencies represent a mix between established players and newer technologies, each having attributes in themselves that might bring substantial returns within the upcoming months.
As with all investments, potential investors are best advised to do their due diligence and take into consideration their personal risk tolerance before making investments into this volatile crypto market.
