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Are you a cryptocurrency holder or a trader in this unregulated market? Do you want to invest in the cryptocurrency sector, and are you in the process of searching for the major tokens to purchase and stake in 2024? Here is the list that we’ve prepared for you as a guideline to help you decide which token you may potentially consider from the crypto market.
Current Price of Shiba Inu: US$0.00001658
Shiba Inu (SHIB) is one of the latest Ethereum altcoins that uses the Japanese breed of hunting dogs called Shiba as a symbol. It has not only been regarded as ‘the Dogecoin killer’ but also as its competitor site, giving tough competition to the later.
SHIB was launched in August 2020 by an anonymous person or a group called ‘Called Ryoshi.’ The token’s price reached a peak on 29th October 2021, during which the token’s market cap stood at US$41 billion.
Shiba Inus operates under the principles of decentralized spontaneous community creation.
Shibarium is intended to figure challenges with scalability, ease up on the fees for transacting on the network, and provide a structure for DApps and Web 3 growth. Thousands of Redditors have fanatically supported Shiba Inu since the launch of the platform, with nearly 500k members in the SHIBArmy.
Hence, it can be considerable under the top 5 tokens to buy and hold.
Current Price of Pepe: US$0.00001062
Pepe is a meme coin which was established in the year 2023. Pepe was developed on the Ethereum platform. Zachary Testa is the founder of Pepe Coin . The icon of the coin resembles the internet meme character – Pepe the Frog.
It has risen to the status of being among the top 100 coins used in the world and number 6 in the class of meme coins. The token supply for Pepe remains at 420 trillion, which gives it a hint of its meme culture formation. Pepe coin uses the concept of decentralization, and its goal is to be closely connected to and influential to its target groups.
The Pepe coin preceded exponential growth. The new crypto coin's market capitalization is 15 days old, reaching up to US$581 million. Hence, Pepe can be chosen as the best top 5 tokens to buy and hold. This is courtesy of the coin’s ethos, which is that the holders feel like subjects or characters that are part of the narrative.
Current Price of Chainlink: US$13.10
Chainlink (LINK) is yet another crypto that serves as a decentralized network of oracles that provide real data to blockchain smart contracts. It was designed to solve the ‘oracle problem’, as it aims to deliver accurate and secure data to smart contracts.
The Chainlink is a decentralized oracle service, and the native cryptocurrency of Chainlink is denoted by LINK, which is used to pay for the services offered by the network, such as data access and processing.
It runs on Ethereum and is based on the ERC-677 standard, which is the enhanced version of the well-known ERC-20. Preventing the falsification of data is also one of the major achievements of Chainlink, mainly due to the decentralized concept.
Secondary participants or node operators in the Chainlink system are rewarded with LINK tokens to supply accurate data. Many different nodes also work independently to fetch and check data, which eliminates the issue of centralization.
Some crypto tokens, known as LINK, are staked by node operators that prevent certain malicious activities in return, creating synergy of interest. They noticed today that Chainlink cannot only support DeFi, insurance, and gaming applications but also offer off-chain data feeds for them. So, Chainlink can be considered under the decent top 5 tokens to buy and hold for 2024.
Current Price of Folki: US$0.0001544
Folki is a meme-based cryptocurrency that was created in the same way that other meme coins were, namely by using an image of Elon Musk’s Shiba Inu dog as its logo, although the project has since expanded to cover a number of different industries within the web3 ecosystem.
The FLOKI token is actually based on the networking of Ethereum and Binance Smart Chain Blockchain by using ERC-20 & BEP-20 tokens. Floki has a unique three-pillar philosophy:
Three parameters make Pesca different from other meme coins – Status, Utility, and Charitable characteristics. It originated from the SHIBA INU community members, and it is commonly referred to as Peoples Crypto Floats on Defi, NFTs, and Metaverse space. It has a built-in 3% reflection on all buys and sells of Floki, which is reinvested back into the Floki inu ecosystem. Hence, Folkki acts under the top 5 tokens to buy and hold this year, too.
A meme coin that started in June 2021 in response to Elon Musk’s Tweet where he named his pet Shiba Inu Floki has plans to increase its adoption and branding; it is useful in multiple aspects within the fintech, DeFi, and tokenization sectors. Special attention should be paid to the fact that the circulations of Floki tokens are large, and the project is almost copying the Shiba Inu model with correspondingly large token supplies.
It can be seen that Floki corresponds to the category of ‘doge-themed assets’, and it is one of the platforms that began its work by integrating various Web3 activities and gaming.
Current Price of Uniswap: US$9.02
Uniswap is a popular and high-impact decentralized exchange, or DEX, built atop the Ethereum platform to facilitate direct buying and selling between parties. Uniswap began in the year 2018 when Hayden Adams brought in the Automation of Market Makers that helped to bring about changes to the provision of liquidity in the DeFi marketplace. It enables users to exchange ERC-20 tokens without leaving their Ethereum-Eth format wallets like MetaMask and MyEtherWallet.
Uniswap does not have a central authority; rather, its decisions are made by the community through the use of Unrealised Loss or UNI. It is also important to note that the operation of this platform is through an open-source code, which users can copy to develop more days.
Uniswap has provided the community with more than US$1. 8 trillion in trading volume and 350 million swaps since it started supporting. Constant product market maker mechanism is the major reason that ensures that there is always liquidity formed for trade. Uniswap’s pools of liquidity allow users to earn fees that are charged by the platform and offered to those who bring capital into the market.
The protocol is decentralized, and the UNI token holders and the delegates selected by union governance form the community running the protocol. Uniswap remains at the forefront of DeFi development and popularization while developing its multiplex ecosystem and remaining one of the integral aspects of DeFi.
In this largely competitive cryptocurrency market, the year 2024 is etched with profits with interesting opportunities for both first-time and experienced investors.
Both Shiba Inu and Chainlink tokens possess communities with strong audiences and clear use cases in oracles, which is why they can become an interesting addition to any portfolio, as well as Uniswap and other DeFi tokens.
Out of the thousands of tokens that exist in the crypto market, these are the top 5 tokens to buy and hold. They have built strong stamina, are solving unique problems, and have proud, vocal communities.
