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3 Cryptos With the Potential to Make You an Overnight Millionaire

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Cryptos to buy are still a hot topic among investment experts. 2024 is a significant year because of the fourth Bitcoin (BTC-USD) halving in April, splitting the reward for Bitcoin miners in half, and the approval of 11 spot Bitcoin ETFs in January, bringing in institutional money from the likes of BlackRock (NYSE:BLK).

However, for the time being, Bitcoin doesn’t look like it’s displaying any substantial price movement. It moved just 11.8% over the last 14 days, last trading flat at just above $66,300, hardly the bull run many analysts predicted post-halving.

But Standard Chartered says Bitcoin can reach $150,000 by the end of 2024, and Cathie Wood of Ark Investment says it could reach between $650,000 and $1.5 million by 2025.

All that being said, the price of Bitcoin is too expensive for many investors, therefore altcoins will gain attention for investors looking to cash in on the halving and other industry developments. The first name we’ll study will shortly undergo a substantial change, moving toward a community-centric governance style. A challenger with major enhancements to boost network performance and democratize governance is next. We’ll conclude with a digital asset attracting Visa (NYSE:V) and Shopify (NYSE:SHOP).

Cardano (ADA-USD)

A concept coin for Cardano (ADA). Cardano Price Predictions

Source: Shutterstock

Cardano (ADA-USD) has increased 30% over the last year, putting it in a great position compared to industry bigwigs Bitcoin and Ethereum (ETH-USD), up 146% and 67%, especially ahead of the Chang hard fork, scheduled in the second quarter of 2024.

It’s moving toward a community-driven governance model, and this change is a big step toward that. During this phase, DReps are elected to reflect the community’s needs. Delegated voting will make interaction and involvement better.

The fork will also bring about big changes to the technology behind the blockchain, like decentralized votes and the ability to take money from the bank, which is necessary to make government actions and community request funding easier.

Also scheduled for the second quarter is the Ouroboros Leios upgrade, which will make the blockchain much more scalable and transaction-friendly, helping meet the growing needs of decentralized applications, or dApps.

With over 1,300 projects and over 79.7 million transactions, the number of DeFi apps running on Cardano is growing. The $450 million worth of value locked up in Cardano’s DeFi community will go up further after the latest updates.

Polkadot (DOT-USD)

Polkadot altcoin logo on pink background

Source: shutterstock.com/nurionstd

Polkadot (DOT-USD) is also undergoing significant changes to its blockchain thanks to the release of Asynchronous Backing, which comes ahead of Polkadot 2.0, making it run faster and better able to handle more volume, placing it well among cryptos to buy.

In addition, Polkadot changed the way it runs its governance by adding Polkadot OpenGov. This new method lets multiple vote tracks happen simultaneously, with the goal of involving more people and eliminating delays.

The community can also look forward to Polkadot’s future parachain auctions. Polkadot’s ecology depends on these auctions, which decide which additional parachains get added to the network.

With the inclusion of additional parachains like peaq, Bit.Country, InvArch, Energy Web and Nodle, Polkadot’s ecosystem is growing quickly.

As a result of these upgrades, and the development roadmap before this, Polkadot is on the radar for many blockchain projects and enterprises. Two notable collaborations, between Polkadot and Moonbeam and Chainlink (LINK-USD), stand out.

Moonbeam is a smart contract parachain on Polkadot that works with Ethereum and makes it easier to make apps that work with each other. This partnership makes it easier to use Ethereum tools and DApps in the Polkadot community.

Polkadot has added Chainlink’s autonomous oracle network to its network to get accurate, unchangeable data. This is very important for many DeFi Polkadot apps that need accurate data feeds in real-time, bolstering its appeal within the ranks of cryptos to buy.

Solana (SOL-USD)

Solana Crypto currency Gold Solana SOL. Close up on white background Blockchain concept 3d rendering

Source: pasit chomying / Shutterstock.com

Solana (SOL-USD) is trading at under $169, as of the last update, up 3% on the day, but in March, it crossed $200, thanks to meme coin frenzy and increased network demand, so it’s at an attractive entry point among cryptos to buy.

As with Cardano and Polkadot, things are heating up in the world of development as Solana speeds up its plans to fix network congestion. Solana is already faster than Ethereum. It can handle 2,600 transactions per second, while Ethereum’s mainnet can only handle 15 to 30. Up to 1.2 million will be possible with future updates like the Firedancer validator client.

Notably, Visa is working with Solana on stablecoin settlement, which points to possible future agreements that could use Solana’s blockchain technology for a range of purposes. Shopify and Solana Pay are also integrated to provide both merchants and users with a new payment choice.

Meanwhile, Helium, which was formerly its own blockchain, moved to Solana to use its scalable architecture for its decentralized wireless network, which supplies 5G services and supports Internet of Things devices.

On the date of publication, Faizan Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. Faizan has several years of experience in analyzing the stock market and was a former data journalist at S&P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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