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The year 2024 is already shaping up to be exceptional, and this article highlights 5 quality crypto projects that can turn investors’ $1,000 into $10,000 or more.
Crypto investments have turned many people’s lives around. While there are tales of investors who have made a fortune in the crypto space, there is no guarantee that any investment will return profits.
One way to increase the chances of success is to bet on a promising project. Here are 5 protocols that have shown promise in recent times.
Cardano (ADA)
Cardano (ADA) is one of the top Proof-of-Stake (PoS) Layer-1 blockchain networks in the market today. With its own identity and unique technology, Cardano has created a thriving ecosystem that has triggered a major demand base for its native currency ADA.
Priced at $0.5194 with a 1.4% growth in 24 hours, ADA is considered one of the most undervalued coins in the industry.
As such, a $1,000 investment has a good chance of soaring to $10,000 when the impact of Cardano’s top innovations like Hydra and Mithril starts reflecting on the coin.
Chainlink (LINK)
Chainlink is a decentralized Oracle service provider that has built a legacy as the first in the industry. Chainlink has helped secure over $7 trillion of value locked with its dominance visible.
For Chainlink, the rebranding of its Staking service and the introduction of its Cross Chain Interoperability Protocol (CCIP) are game changers that might positively impact its growth course in the near future. At the time of writing, the coin is priced at $17.90 with a market capitalization of $10,445,971,024.
Polygon (MATIC)
Polygon is an Ethereum-based Layer-2 scaling solution with giant strides. Besides ranking as the 14th largest coin, it has relatable use cases that have made it the delight of enterprises around the world.
Currently, it hosts the Web3 programs of brands like Starbucks and Flipkart, and its Polygon CDK innovation is currently being widely used to create new applications across the board. MATIC, the native token is worth $0.7858 with a market capitalization pegged at $7,552,091,480.
VeChain (VET)
VeChain is an enterprise-grade blockchain network with deep ties to the supply chain industry. Besides its link with supply chain networks, VeChain has found diverse applications in payments, research, Internet of Things (IoT), and smart contract deployment, making it one of the most robust chains around.
VeChain is also considered undervalued, making any potential investment a bet that might have a positive reward in the long term. VET is worth $0.02883 at the time of writing and its market capitalization is pegged at $2,095,457,026.
IOTA (IOTA)
IOTA is a Distributed Ledger Technology (DLT) based on Directed Acyclic Graph (DAG). Its design makes it highly efficient to process enormous transactions at scale and for a relatively lower cost.
DAGs are now gaining good traction and as a pioneer, IOTA is on track to gain a huge cut of the market share. It is trading for $0.2485 with a market cap of $773,955,164, deepening its likelihood of resurgence.