Top cryptos Celestia, Sei, Aptos, Arbitrum, and Sponge are potential portfolio diversifiers ahead of the 2024 Bitcoin halving. Image by Thanasak Wongsuk, Vecteezy.
With last week’s Bitcoin ETF launches and the 2024 Bitcoin halving event right around the corner, the crypto market is looking ripe for investors seeking to diversify and strengthen their investment portfolios. Here are the 5 top cryptos that are well-positioned to provide value with their novel models and real-world utility.
1. Celestia Draws Big Names with Modular Blockchain Approach
Celestia
stands out with its modular blockchain architecture designed to solve scalability issues faced by traditional blockchain networks. Rather than operate through smart contracts on an existing chain, Celestia uses a purpose-built blockchain and provides validation and data availability that other blockchains can integrate.
Though only a few settlement layers have currently deployed on Celestia, some major players are slated to launch in 2024. DeFi’s new popular project Berachain, which raised $42 million in its Series A, is likely the most anticipated. But lesser-known Neutrino and Layer N are also worth watching.
Infrastructure projects like Axelar, Optimism, and Cosmos have opted to join Celestia’s ecosystem as well. With trusted brands opting in, Celestia appears positioned to grow its footprint in enabling scalable, secure blockchain applications.
2. SEI V2 to Add Ethereum Virtual Machine Support
Designed for speedy sub-second transactions ideal for trading, proof-of-stake blockchain Sei plans to incorporate Ethereum Virtual Machine (EVM) support in its upcoming Version 2 upgrade.
This will enable developers to port Ethereum-based contracts onto Sei’s network and build using them. Sei V2 will integrate the popular Ethereum client software Geth to provide the Parallelized EVM functionality.
“Sei V2 is an additive change. All of the existing components like CosmWasm will continue to exist. Since this is a proposed chain modification, the different virtual machines will also be able to interact with each other, allowing for Sei V2 to be the first network where EVM and Cosmwasm contracts are able to call each other,” Sei Labs co-founder Jay Jog told The Block.
By broadening accessibility to Ethereum developers, the addition of a high-speed EVM seeks to expand Sei’s appeal. Projects like Sei that strategically adapt to the evolving market dynamics may offer investors the agility needed to thrive. With both high speeds and interoperability, Sei’s evolution positions it as an attractive Layer 1 project that places it among the top cryptos to include in investment portfolios.
3. Why Aptos is a Good Bet to Diversify Investment Portfolios Post-Unlock
Aptos
, a new layer 1 blockchain that launched in 2022, has an important milestone approaching with a token unlock event. Historically, major token unlocks have created selling pressure and price declines across cryptocurrencies. Aptos’ impressive capabilities could make it a viable investment portfolio diversifier once prices stabilize after initial selling pressure, however.
With its focus on scalability, security, and reliability, Aptos brings unique capabilities to Layer 1. Its consensus mechanism AptosBFT enables high throughput up to 160,000 transactions per second.
The Move programming language also optimizes smart contract execution. As the unlock approaches, the market awaits indications of Aptos’ trajectory. If the project withstands unlock selling, Aptos at discounted prices could bolster investment portfolios as a higher-risk, high-growth addition.
4. Arbitrum Set to Keep Attracting Crypto Capital
Ethereum scaling solution Arbitrum has cemented itself as a leading layer 2 blockchain with immense development and usage growth. Its average transaction fee of just $0.26, compared to over $5 on Ethereum’s mainnet, provides excellent savings that are driving adoption.
With Arbitrum’s total value locked surging to $2.61 billion, the network effects are clear. The ecosystem also continues rapidly expanding. For investors seeking productive crypto investments, Arbitrum ticks many boxes with its combination of high utility, developer activity, and user growth.
Arbitrum’s impressive momentum could make it an intriguing portfolio addition at its still-early stage. With proper evaluation of team, technology, and business trajectory, Arbitrum presents an opportunity to diversify into a high-potential layer 2 network.
5. Top Crypto Sponge Rides Meme Hype with V2 Launch
While more established layer 1s and DeFi platforms present compelling investment cases, the crypto market increasingly factors in meme coins and hype-driven assets. One such asset that continues gaining traction is Sponge, which recently rolled out a V2 token.
Sponge first launched in 2023 as a meme coin capitalizing on hype trends. According to analytics provider DEXTools, it achieved a staggering 100x return for early backers as prices hit $0.001061 within the first week. Though Sponge later corrected from its peak, it maintained respectable strength versus failed meme coins.
Sponge V1 was a huge hit, and V2 is set to soar even higher!
Stake $SPONGE now to absorb the damp.
Missed V1? Don’t miss V2! #SpongeV2 #Crypto #Alts pic.twitter.com/snPjpOOFh6
— $SPONGE (@spongeoneth) January 15, 2024
With the release of its V2 token, Sponge regained momentum with a swift 6x spike for holders receiving the airdrop. This reignited interest in riding short-term gains. Sponge also retains an expansive community across social media, facilitating coordinated buying.
For traders embracing calculated risks, Sponge offers a conduit to tap into viral meme hype. Its proven price elasticity and listing accessibility on over 10 centralized exchanges enable rapid upside in bullish conditions.
Ultimately, Sponge represents a potential portfolio supplement. With thorough research, some investors may find room for allocating fractional portions to diversify and capture fleeting meme hype cycles in a controlled manner.
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