10 Best Cryptocurrencies of March 2024

Read our Advertiser Disclosure.
Contributor, Benzinga
March 21, 2024

Benzinga’s choices for top cryptocurrencies to invest in this March are Bitcoin, Ethereum and Solana. You can get them on exchanges such as eToro, Coinbase and Kraken.

bestcrypto2024

Crypto investing has allowed some investors to turn pocket change into millions. These investors were able to find projects before they blew up or stuck with projects until they became profitable. Many are hoping to replicate this good fortune and invest in a crypto project that will provide them with huge returns. The crypto market is looking bullish, and there are a handful of potentially profitable investments in 2024.  

Disclosure: eToro supports the following currencies: BTC, ADA, DASH, DOGE, EOS, ETH, LTC, NEO, XLM, XTZ, TRX, ZEC. eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. T&Cs apply. *The bonus is available to Benzinga readers in the US for open states only. Served by eToro USA LLC.

Best Crypto to Buy Now

Since the crypto landscape is constantly changing, the list of best cryptocurrencies shifts. However, here are some of the best tokens for March 2024.

1. Bitcoin (BTC)

Price: ~$70,000

Market cap: ~$1.3 trillion

Year-over-year return: ~150%

Bitcoin was the leader in the cryptocurrency sector, paving the way for all other projects. The token serves as a form of payment and a store of value. It has performed well in 2024, reaching new all-time highs (ATHs), surpassing previous records set in 2021. Sentiment on Bitcoin is largely bullish, and many do not see the price rally ending anytime soon. In 2024, the main catalysts have been spot ETF approvals and the upcoming Bitcoin halving. ETFs have brought a host of new investors to the project, while the halving is projected to lower the amount of tokens sold each day. 

2. Ethereum (ETH)

Price: ~$3,500

Market cap: ~$420 billion

Year-over-year return: ~100%

Ethereum is the largest blockchain that allows users to access decentralized finance (DeFi) applications. It supports nearly all of the top projects, ranging from AI startups to top meme coins. This is possible through its strong development platform and easily usable smart contract system. It is a versatile chain, allowing users to access all aspects of Web3 with ease. The chain switched from a proof-of-work (PoW) system to a much more efficient proof-of-stake (PoS) system in 2022. In 2024, some of the major events include planned upgrades to the blockchain, as well as the potential for the approval of spot Ethereum ETFs.

3. Solana (SOL)

Price: ~$200

Market cap: ~$90 billion

Year-over-year return: ~850%

Solana had a rough start in 2023 because Sam Bankman-Fried and FTX were some of the largest investors in the project. This resulted in the token losing over 96% of its value within 11 months of the FTX collapse. At the time, many thought that SOL was a dead project. However, 2023 and 2024 have seen a revival of the project. Many new projects have started on Solana recently. These projects include staking protocols, storage, AI, and many others. However, meme coins have been a driving force in Solana’s resurgence. These tokens have attracted new investors who have to buy SOL and swap it for meme coins. 

4. Ripple (XRP)

Price: ~$0.60

Market cap: ~$35 billion

Year-over-year return: ~70%

Ripple is a centralized company that is hoping to bring the possibilities of crypto to the banking sector. Its business model revolves around the use of their native token, XRP to facilitate transactions. Ripple can use the XRP token to serve as an intermediary between other assets. For example, BTC and ETH are not directly interchangeable. However, Ripple can convert BTC to XRP and then convert the XRP into ETH. This concept can be applied to any currency swap or other transaction that a bank may have to make daily. XRP is particularly useful in this case because it is fast and has transaction fees that are a tiny fraction of a cent.

5. Dogecoin (DOGE)

Price: ~$0.15

Market cap: ~$20 billion

Year-over-year return: ~100%

DOGE has been able to stick around in the top 20 tokens by market cap for some time and has gone up with the rest of the market in 2024. Additionally, new use cases in the future could send the token even higher. In particular, Elon Musk said that he would consider allowing users to buy a Tesla car with DOGE and currently allows people to buy Tesla merch with DOGE. If this were to happen, it could increase demand for the token and send the price even higher. 

6. Avalanche (AVAX)

Price: ~$60

Market cap: ~$25 billion

Year-over-year return: ~250%

Avalanche is a chain focused on high speeds and low costs. It hopes to make the process of interacting with DeFi as straightforward and cheap as possible. The project saw relatively low volatility in 2023 but has performed exceptionally well in 2024. Its success has been the result of new projects making a home on the chain. Most of these projects revolve around exchanges and trading. For example, one of the most popular protocols is called Trader Joe, which allows users to trade, stake, yield farm and provide liquidity for a handful of Avalanche-based projects. If Avalanche can attract a more diverse range of projects, it could continue its upward momentum.

7. Shiba Inu (SHIB)

Price: ~$0.00003

Market cap: ~$16 billion

Year-over-year return: ~150%

SHIB is one of the few other meme coins to survive the 2022 bear market. The project is a meme coin based on the Shiba Inu breed of dog, which is the breed featured in the DOGE meme. The project has spent the last several years building out an ecosystem that gives the token utility beyond just a meme coin. For example, its has created NFT projects, a layer 2 blockchain called Shibarium, a separate token for staking rewards and a biweekly magazine. These new uses have helped the token not only survive the bear market but perform well in the current market. The token has been able to sustain a strong community over the years, allowing it to cement itself as a meme coin that is worth the hype. 

8. NEAR Protocol (NEAR)

Price: ~$8

Market cap: ~$8 billion

Year-over-year return: ~240%

NEAR is hoping to solve one of the biggest issues that many see with Ethereum and other chains. These chains require huge amounts of computing power to operate and provide services to their users. This requirement puts lots of strain on the chain, which can result in slow speeds and high costs. NEAR uses cloud computing to help bolster speeds and increase scalability. Developers can benefit from others’ projects, as everything on the platform is open source. These are optimal conditions for developers, as it is much easier to make faster applications. If NEAR can attract more projects that lead to more use cases, the price has room to keep going up. 

9. Optimism (OP)

Price: ~$3.5

Market cap: ~$3.5 billion

Year-over-year return: ~30%

Optimism is a Layer 2 chain that works with Ethereum. The project is meant to help users access Ethereum decentralized applications (dApps) for a fraction of the cost on the Ethereum mainnet. This is accomplished through the use of Optimism rollups, which work similarly to a credit card. Effectively, the protocol allows users to make transactions on Optimism’s Layer 2 solution and then enters a seven-day window in which the transaction can be verified before it is uploaded to the Ethereum ledger. Recently, Coinbase announced that its Layer 2 would use Optimism, resulting in a price increase that could be sustained if Coinbase’s Layer 2 does well. 

10. Binance (BNB)

Price: ~$550

Market cap: ~$80 billion

Year-over-year return: ~70%

Binance Coin took a hit in late 2023 when its former CEO, Changpeng Zhao (CZ) pleaded guilty to money laundering charges. Many were wondering if Binance would be able to continue as a company, as the charges were very serious. However, the dust seems to have settled from the incident, and BNB has been on a strong upward trajectory in 2024. This is particularly driven by Binance’s exchange listing new tokens, which makes the platform attractive to investors who are looking to be on top of the latest trends in crypto and buy the hottest tokens as soon as they hit the market. 

What is Cryptocurrency and How Does It Work?

Cryptocurrency is a token-based way of transacting online. Tokens are stored on an unchangeable ledger that can be viewed by anyone. The data is also stored on a large network of computers, which allows for much easier scalability. 

Most cryptocurrencies are processed by others on the blockchain. Other users can verify transactions in exchange for rewards.

Since the basic framework for technology has been developed by previous projects such as Bitcoin and Ethereum, it is somewhat easy for new developers to create a blockchain of their own. Additionally, projects like Ethereum allow users to create their own tokens with little effort. Because of this, there are tens of thousands of cryptocurrencies available to invest in.

How to Invest in Cryptocurrency

To invest in crypto, you first have to make an account on a crypto trading platform. Some of the top firms are Coinbase, Kraken, Webull and eToro. These sites are well known for their low fees, security and ease of use.

To get started, create an account and verify it using an email and some form of identification. From there, you can fund your account by linking a bank. With a linked bank account, you can begin trading a variety of cryptocurrencies. 

Crypto trading is similar to stock trading. However, most sites offer a separate crypto trading platform or only offer cryptocurrency. 

How to Report Crypto on Taxes

As of right now, the IRS treats cryptocurrency as a form of property. Because of this, you are required to pay capital gains tax on sales of crypto. Crypto exchanges send Form 1099s, which report capital gains and losses for the year. You can use this form to report your taxes on crypto transactions.

What Are Cryptocurrency Exchange-Traded Funds (ETFs)?

A recent phenomenon has been that of spot ETFs for crypto. An ETF is a fund that pools investors' money and uses it to buy an underlying asset. In this case, the underlying asset is crypto. The fund then takes the assets and packages them into shares that are distributed to the investors.

Top Cryptocurrencies: Lots of Options

Crypto can seem overwhelming for beginners. Learning as much as you can about the basics of crypto and some of the top tokens will help you be a better crypto investor. Do your own research to see what tokens may suit your specific investment needs.

Disclosure: ²Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards. ³Crypto rewards is an optional Coinbase offer. Upon purchase of USDC, you will be automatically opted in to rewards. If you’d like to opt out or learn more about rewards, you can click here. The rewards rate is subject to change and can vary by region. Customers will be able to see the latest applicable rates directly within their accounts

Frequently Asked Questions

Q

Which crypto will boom in 2024?

A

While it is hard to tell, cryptocurrencies with potential catalysts may be more likely to boom if the events play out in their favor.

 

Q

What is the highest-rated cryptocurrency?

A

Bitcoin is the highest-rated cryptocurrency because of its longevity and size.

 

Q

What is the safest cryptocurrency?

A

All crypto is potentially susceptible to hacking, but larger projects are generally considered to be safer.

The Crypto Rocketship: Weekly Newsletter
  • Exclusive Crypto Airdrops
  • Altcoin of the Week
  • Insider Interviews
  • News & Show Highlights
  • Completely FREE

About Caden Pok

Caden has been involved with cryptocurrency for several years, began trading and investing in crypto in 2018 and is highly experienced with DeFi technology. He took part in undergraduate research studying cryptoeconomics and is a member of Wolverine Blockchain, a group designed to educate students on cryptocurrencies and blockchain technology. Currently, he mines multiple coins and holds positions in Cardano and Ethereum.