Expert Opinion: Buy These 3 Cryptocurrencies for Big Profits!

The cryptocurrency market has been in the red lately. Except for some random chest coins, we rarely see green candles. But some people are quietly and slowly buying. And as we know, institutional interest in cryptos is increasing. In particular, the approval of Bitcoin and Ethereum spot ETFs played a big role in this. Institutions like to play it safe. Crypto expert Camille Lemmens from the Altcoinbuzz group has identified 3 candidates for big profits in 2024. There are no mid- or low-cap coins on this list because they are the focus of institutions.

First in line is the leading cryptocurrency Bitcoin (BTC)!

Bitcoin is undoubtedly the leader of the pack. In addition to its first breakthrough advantage, it also has strong foundations. When Bitcoin peeps, the market listens. This year, several quite notable events took place in favor of Bitcoin. cryptokoin.com As you follow from , Bitcoin spot ETFs were approved in January. When they started trading, BTC reached a new ATH within two months. Currently, this ATH stands at $73,737. Its current price of $61,430 is just 16.7% away from the ATH.

Bitcoin halving took place in April. This event only happens every four years. 6 So far this has always been followed by a bull run. Halving reduces the rewards a miner receives for mining blocks by 50%. It also reduces the inflation rate of BTC. Therefore, we are seeing an increase in institutions showing interest in Bitcoin. Many see Bitcoin as a hedge against inflation. Additionally, its limited supply of 21 million helps this. You can expect a supply shock in the stock markets soon. This will push the BTC price even higher.

Ethereum (ETH) comes in second place

Ethereum is ranked for many reasons. For example, it is also ranked number 2 in terms of market cap. Like Bitcoin, its spot ETF was approved. This happened on May 23. The SEC approved Forms 19b-4. This is the first step of a 2-step process. This approval immediately caused a 20% price increase. However, ETH has been trading sideways since then. However, once these ETH spot ETFs start trading, it will increase demand. I expect another price jump once Ethereum spot ETFs start trading. Before that happens, the SEC needs to approve the Forms S-1. This is the second step. This could take another month or two.

However, Ethereum also has strong fundamentals. Ethereum was the first Blockchain to offer smart contracts. This has placed it at the forefront of DeFi. In contrast, DeFi is transforming finance. Ethereum is leading the way in this regard. Currently Ethereum holds 60% of all TVL. Institutional interest will continue to grow for Ethereum. SEC approves 8 Ethereum spot ETFs. These include BlackRock, Fidelity, VanEck and Grayscale. Once trading begins, institutional money will begin flowing into these Ethereum spot ETFs.

The last cryptocurrency: API3 (API3)

API3 is an oracle. This is a heated crypto branch with plenty of competition. Chainlink or Pyth Network are just a few of them. So why is this such a heated episode? Blockchains cannot connect with the world. However, they still require real-world knowledge to deliver their services. This is where oracles come into play. As you can see, the role that oracles play is quite valuable. Now you can also see why this is such a hot crypto segment.

Now, we have seen Chainlink accumulate in heavy form. This is because it is a leading infrastructure project. However, if there is a project that escaped the radar of Oracles in this section, it is API3. It is currently active on almost 50 blockchains. Therefore, we can see an accumulation for this project. With API3, developers can add a dAPI directly to a smart contract. API is an Application Programming Interface. It allows software applications to talk to each other. A dAPI is peer-to-peer, but decentralized. API3 uses these for data streams. API3 is also about to introduce the OEV network. This is Oracle’s issuable security. This may subtract costs that would otherwise go to other parties. For example, through arbitrage or liquidation. This can encourage protocols.

The opinions and claims in the article are those of the expert and are not necessarily investment advice. cryptokoin.comWe strongly recommend that you do your own research before investing.