The Next Big Cryptos in 2024, Miners Navigate Post-Halving Challenges, While European Hard Tech VC Secures €55M for 8 Promising Investments
Birgul COTELLI, Ph. D.
Top 100 Thought Leader Thinkers360??Board Director??Transformation??Ethics??Technology ??Innovation??Governance Risk Compliance ??VR AR AI??Metaverse??LinkedIn Top Voice in VR (May-Aug 24)??Speaker
As the dynamic world of cryptocurrency continues to evolve, 2024 promises a landscape ripe with opportunity. Key developments are setting the stage for significant returns, particularly for investors eyeing the next wave of promising cryptocurrencies. Amidst these trends, Bitcoin miners are adapting to a post-halving world, facing new challenges and opportunities. At the same time, innovation is thriving in Europe, where a newly emerged hardtech venture capital firm has raised €55M and already backed eight transformative investments. This combination of technological advancement, strategic investment, and evolving market conditions highlights the multifaceted growth potential in the cryptoverse.
Disclaimer: the Investors Board Newsletter is not an investment advice, the sole purpose of its publication is informative.
The Next Crypto to Explode in 2024 with Promising Returns
Let’s explore some of the cryptocurrencies that could potentially make waves in 2024. Remember that investing in cryptocurrencies carries risks, and prices can be volatile. Always conduct thorough research and consider your risk tolerance before making any investment decisions. Here are a few noteworthy options:
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SingularityNET (AGIX)
SingularityNET is a blockchain platform that allows users to create, share, and monetize AI services.?It hosts a global AI marketplace where AGIX utility tokens are used for purchasing various AI services.
With the ongoing AI boom, SingularityNET is well-positioned to capitalize on this trend. Its team of AI scientists, researchers, and developers contributes to its success.
Although it experienced significant growth early last year (over 1,300%), it could see further success as AI adoption continues to expand.
Ethereum (ETH)
Ethereum is far from under the radar; it has been the second-largest cryptocurrency for years. However, it still holds serious growth potential.
As the first blockchain to offer smart contracts, Ethereum remains a key player in the crypto space.?Developers can build decentralized applications (dApps) using its smart contract functionality.
5thScape (5SCAPE)
5thScape is a presale coin that raised $6.1 million in its first presale round in 2024.?Keep an eye on its progress as it continues to gain attention.
DarkLume (DLUME)
DarkLume has shown promising growth, with its coin value surging by a minimum of 7% in each preliminary phase.?It’s worth monitoring this coin’s trajectory.
Binance Coin (BNB)
Binance Coin, associated with the Binance exchange, has been steadily rising in popularity. Its utility extends beyond trading fees, making it an interesting investment option.
Fetch.ai (FET)
Fetch.ai focuses on decentralized machine learning and AI. Its goal is to create an autonomous economic framework where agents collaborate and trade autonomously.
Uniswap (UNI)
Uniswap is a decentralized exchange (DEX) protocol that facilitates automated trading of cryptocurrencies. Its liquidity pools and governance token (UNI) have gained attention.
Concluding Thoughts on the Next Crypto to Explode in 2024
Identifying the next cryptocurrency to explode is challenging, requiring diligent research and analysis. However, recent developments highlight promising options, avoiding the pitfalls of fraudulent coins.
5thScape (5SCAPE) stands out, with predictions of 600x profits by 2025. Its immersive VR ecosystem and utility-based token offer unique advantages. Additionally, DarkLume (DLUME) and SimuGaze are in early phases with significant potential, as demonstrated by their successful presales.
Investing wisely requires staying informed and cautious of market trends and considering risks.
Cryptoverse: Miners Trudge through Post-halving World
The landscape of Bitcoin mining has evolved significantly, and miners face various challenges and opportunities in 2024. Let’s consider some key aspects:
Bitcoin Miners and ETFs
Despite Bitcoin’s impressive 60% year-to-date climb to $67,859, U.S.-listed miners like Marathon Digital and Riot Platforms have experienced setbacks. They’ve dropped about 10% and 33%, respectively
The emergence of 11 new Bitcoin exchange-traded funds (ETFs) earlier this year has diverted some investor capital away from mining stocks.?These ETFs offer direct exposure to Bitcoin’s spot price, making them an attractive alternative for investors.
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Halving and Mining Rewards
Bitcoin miners compete to solve complex mathematical puzzles and earn rewards in the form of new Bitcoin. However, their rewards were halved in April 2024 to 3.26 Bitcoin per block.
As a result, miners’ revenue per transaction has decreased significantly, currently standing at $60 (compared to over $192 in March).?This reduction is due to the technical adjustment that occurs roughly every four years to control the rate of new Bitcoin creation.
Network Difficulty and Efficiency
Bitcoin’s network difficulty, which measures the mining difficulty for each block, has steadily increased since the start of the year. It reached an all-time high in early May.
Miners must enhance their efficiency by investing in better hardware.?This optimization is crucial for long-term profitability, given Bitcoin’s volatile price and mining difficulty.
U.S.-Listed Miners and Equity Financing
The 14 U.S.-listed miners, accounting for 23% of global Bitcoin mining power, are better positioned due to greater access to funding and equity financing.
Equity capital raised by these miners exceeded $3 billion in the first quarter of 2024, the highest in the past two years.?This financial strength allows them to scale operations and invest in efficient equipment.
Energy Costs and Global Expansion
Some miners are relocating operations to countries with more affordable energy prices and favorable regulations for digital assets.
Mergers and AI Integration
As revenue declines, market analysts anticipate more mergers among Bitcoin miners. Well-capitalized miners may target less efficient ones to maintain competitiveness.
Additionally, some crypto mining companies are exploring artificial intelligence (AI) applications.?Leveraging existing energy-hungry computing power, they aim to meet the demands of AI systems.
In this dynamic landscape, miners must adapt, innovate, and strategically position themselves to thrive in the ever-evolving world of cryptocurrency mining.
European Hard Tech VC Emerges with €55M and Has Already Backed 8 Investments
Rialto Ventures seems to be making significant strides in supporting European founders in hard tech sectors, particularly focusing on B2B tech verticals at the Series A stage. With over €55 million secured and a strong emphasis on domain expertise and industry connections, their approach appears well-structured to foster digital transformation and innovation across various sectors.
The backgrounds of the General Partners, Simone Brunozzi and Stefano Quintarelli, bring valuable experience from tech giants like Amazon Web Services (AWS) and VMware , as well as entrepreneurial success stories like I. NET. Alessandro Profumo's addition as Chairman and Partner further enriches the team with his extensive network and leadership experience in major European institutions.
Their portfolio companies reflect a diverse range of industries, from AI-driven performance monitoring in professional sports to medtech solutions for healthcare diagnostics, also going from robotics, non-gen AI, cybersecurity, AR/VR, Enterprise SaaS to cloud services. This diversity suggests a broad yet strategic investment approach, aimed at addressing key challenges and opportunities in today's market.
Brunozzi's analogy of acting as a modern 'consigliere' is particularly intriguing, highlighting their role not just as investors but as strategic partners to European founders, providing both capital and guidance to help them succeed on a global scale. This approach could indeed help retain top European talent and foster growth within the region, rather than losing it to the US market.
Overall, Rialto Ventures seems poised to make a significant impact in the European tech ecosystem, providing much-needed support and resources to fuel innovation and growth.
As the cryptocurrency landscape evolves in 2024, investors are presented with a plethora of opportunities and challenges. While promising cryptocurrencies like SingularityNET and Ethereum offer avenues for significant returns, Bitcoin miners navigate through a post-halving world, adapting to changing market dynamics and exploring innovative solutions. Concurrently, the emergence of Rialto Ventures signifies a robust investment ecosystem in Europe, fostering digital transformation and innovation across various sectors. With a focus on hard tech and strategic investments, Rialto Ventures, along with other key players, is poised to drive growth and shape the future of the cryptoverse.
Sources - The Economic Times, fool.com, Tech.eu, coin.codex.com
Disclaimer: the Investors Board Newsletter is not an investment advice, the sole purpose of its publication is informative.
#Cryptocurrency #Bitcoin #InvestmentOpportunities #TechInnovation #EuropeanTech #RialtoVentures #Capital #VC
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Group CEO, ELIXR | Building Smart City Tech.
9 个月This overview of the quickly changing cryptocurrency landscape is fascinating! 2024 looks like it will be a landmark year for investors and inventors.
Master Future Tech (AI, Web3, VR) with Ethics| CEO & Founder, Top 100 Women of the Future | Award winning Fintech and Future Tech Influencer| Educator| Keynote Speaker | Advisor| (ex-UBS, Axa C-Level Executive)
9 个月Birgul, this is an exciting time for the crypto and tech sectors! The post-halving challenges for miners and the impressive €55M raised by the European hard tech VC firm are particularly noteworthy. Looking forward to seeing which cryptocurrencies will lead the charge in 2024!