These 3 Cryptos Are Poised to Skyrocket

In the first three months of 2024, the total cryptocurrency market cap increased by 50%, reaching over $2.6 trillion, just shy of its all-time high of $2.9 trillion. However, since April, the market has fallen by 23%, with many cryptocurrencies trading close to where they started the year.

Despite this slowdown, the overall trend suggests that we are still in a bull market. History shows that the momentum will eventually pick up, and when it does, these three cryptocurrencies will be the biggest winners.

1. Ethereum: Ready for a strong rebound

Among those hardest hit by the recent volatility, Ethereum (ETH -0.40%) ETH has barely made any progress since the beginning of the year. For many ETH holders, the stagnant price has been a disappointment as other tier-1 cryptocurrencies have taken off.

It’s important to recognize, however, that the cause of this slowdown is temporary. Unlike other cryptocurrencies, Ethereum has an unlimited supply. But rather than simply continually creating new coins, Ethereum goes through phases of inflation and deflation based on the number of transactions on the network. The more transactions there are, the more ETH is burned into the supply. But when transactions slow down, the supply can increase.

While Ethereum’s supply was deflationary from mid-2022 to early 2024, around April of this year, things changed and Ethereum saw a notable spike in inflation. This, combined with a massive selloff, caused Ethereum’s price to struggle.

It’s important to note, however, that Ethereum’s fundamentals remain incredibly strong. As the most widely used blockchain for decentralized finance (DeFi) applications, Ethereum supports over 50% of the DeFi market and is home to several Layer 2 solutions that support even more use cases.

Additionally, Ethereum ranks among the top in terms of revenue. It generated $2 billion in the past year, far outpacing its competitors. Once its supply returns to a deflationary trend, Ethereum will be well-positioned for a significant price rally, making it a prime candidate for a rebound when the bull market resumes.

2. Solana: Poised for Explosive Growth

Solana (GROUND -0.68%) Solana has quickly gained prominence in this bull market thanks to its blazing-fast transaction speeds and low fees. While Solana has grown by over 500% in the past year, it still sits 50% below its all-time high. Yet the current state of Solana’s network metrics—such as transactions per day, active addresses, and total fees—has more than tripled compared to just a year ago.

Much like Ethereum during the previous cryptocurrency bull run, Solana is benefiting from a surge in innovative use cases, from meme coins to decentralized physical infrastructure networks (DePINs). Its growing popularity across key metrics suggests that Solana is poised for another surge. As the bull market gains traction, Solana could very well take center stage and deliver impressive gains.

3. Aerodrome: the hidden gem

While Ethereum and Solana are well known, there is a newcomer that deserves attention: Aerodrome (AERO -0.51%). Probably a more speculative play, but with immense potential, Aerodrome is the dominant decentralized exchange (DEX) on one of the world’s most popular blockchains, Base. Unlike other blockchains, Base does not have its own native token, making Aerodrome the go-to option for investors looking to capitalize on Base’s explosive growth.

Since its launch, Aerodrome has captured over 90% of DEX volume on Base and ranks among the highest revenue-generating protocols in the entire crypto industry. Thanks to its MetaDEX model, which combines elements of popular DEXs like Uniswap And CurveThe Airfield is designed to reward its users and token holders, by redistributing the significant revenue it generates.

Although Aerodrome’s price has pulled back around 60% from its peak, this correction presents a great buying opportunity for those with a higher risk tolerance. Aerodrome could see explosive growth in the next phase of the bull market, thanks to its dominance on the most popular new blockchain.

RJ Fulton holds positions in Aerodrome Finance, Ethereum, and Solana. The Motley Fool holds positions in and recommends Ethereum, Solana, and Uniswap Protocol Token. The Motley Fool has a disclosure policy.