New Crypto Coins 2024: Notable Tokens To Watch This Year

The first half of 2024 has been a spectacle for the crypto community, and it’s not an overzealous statement. The crypto market has made a significant comeback after a prolonged winter driven by geopolitical tension, economic challenges, and catastrophic failures of crypto giants like Terraform Labs and FTX.

However, the growing adoption of blockchain and digital assets, reformed policies, regulatory clarity, and institutional adoption have revived the crypto market in 2024. Events such as the approval of Bitcoin ETFs, Ethereum‘s Dencun upgrade, and strict AML (anti-money laundering) have driven the latest bull run, as major tokens like Bitcoin and BNB have hit new peaks.

Like every bull market season, 2024 has also seen its fair share of new tokens. Several new projects have launched in the first two quarters of the year, other promising projects are heading into presale and ICOs.

So, what are the new crypto coins for 2024? Which tokens should you keep an eye on this during bull market?

Key takeaways

• New cryptocurrencies in 2024: Notable launches include Book of Meme (BOME), dogwifhat (WIF), Ethena, Starknet, SLERF, Pyth Network, and Jupiter.
• Emerging trends: New coins are leveraging AI technologies, enhancing DeFi applications, and focusing on scalability through layer-2 solutions. There is also a notable rise in innovative memecoins.

New crypto coins 2024

Starknet (STRK)

Starknet is an Ethereum layer-2 scaling solution that uses zero-knowledge rollup (Zk-rollup) technology developed by StarkWare. This technology enables Starknet to process transactions off-chain and then batch them into a single transaction on the Ethereum mainnet, significantly improving scalability and reducing gas costs while maintaining high security and data privacy.

Functionality

Starknet operates with a unique architecture involving sequencers and provers. Sequencers collect and order transactions, while provers validate these transactions in parallel, creating a highly efficient system. This set-up allows Starknet to scale effectively by batching thousands of transactions into a single proof, which is then verified on Ethereum.

Key features

• Scalability and security: Utilizes STARK proofs to ensure transactions are processed efficiently and securely without requiring a trusted set-up.
• Decentralization: Aims to gradually reduce central control, enhancing network resilience and distributing governance among participants.
• Governance and token use: The STRK token is used for transaction fees, governance, and staking within the Starknet ecosystem. The tokenomics plan includes a total supply of 10 billion STRK, strategically distributed to ensure long-term sustainability.

Market data

As of mid-2024, Starknet has a market capitalization of approximately $1.7 billion, with a circulating supply of around 1.3 billion STRK tokens. The total supply is capped at 10 billion STRK tokens. STRK surged by over 100% within a week of its launch, but since then, the token has seen corrections.

Starknet provides extensive resources for developers, including comprehensive documentation, tutorials, and community support. The native smart contract language, Cairo, is designed to work seamlessly with STARK proofs, offering a powerful environment for creating secure and efficient smart contracts.

Ethena (ENA)

Ethena is a DeFi platform launched in late 2023, focusing on enhancing the capabilities and usability of DeFi protocols. Ethena aims to provide innovative solutions for staking, lending, and governance, making DeFi more accessible and efficient for users.

Functionality

• Staking and lending: Offers platforms for users to stake their assets and earn rewards, as well as lending services that provide liquidity to the DeFi market.
• Governance: Implements decentralized governance mechanisms, allowing token holders to participate in decision-making processes and influence the development of the platform.

Key features

• User-friendly interface: Designed to cater to both novice and experienced DeFi users with an intuitive interface.
• Interoperability: Supports multiple blockchain networks, enabling cross-chain functionality and expanding its user base.

Adoption and growth

Ethena has quickly gained traction due to its robust DeFi offerings and user-centric design. The platform’s innovative features and strong security measures have attracted a growing community of users and developers.

Both Starknet and Ethena represent significant advancements in their respective areas within the blockchain ecosystem, offering innovative solutions to scalability, security, and DeFi usability challenges.

Jupiter (JUP)

Jupiter is a decentralized finance platform launched in 2024, focusing on providing a comprehensive suite of tools for yield farming, liquidity provision, and decentralized exchanges (DEXs). It aims to simplify DeFi operations and make advanced financial services accessible to a broader audience.

Functionality

• Yield farming and staking: Users can stake their assets to earn rewards, providing liquidity to various DeFi protocols.
• Liquidity provision: Jupiter facilitates liquidity pools where users can contribute their assets to earn transaction fees.
• Decentralized exchanges (DEXs): The platform supports DEX functionalities, allowing users to trade various cryptocurrencies with low fees and high efficiency.

Key features

• User-friendly interface: Jupiter’s platform is designed to be intuitive, catering to both novice and experienced DeFi users.
• Security: The platform employs robust security measures to protect user assets and ensure the integrity of its financial services.
• Interoperability: Jupiter supports multiple blockchain networks, enhancing its versatility and user reach.

Adoption and growth

Since launch, Jupiter has quickly become the third largest DEX by daily trading volume. According to data from CoinGecko, its average daily trading volume currently exceeds $830million, just behind Uniswap and Cellana Finance.

Pyth Network (PYTH)

Launched initially on the Solana blockchain in 2021, Pyth Network has evolved into a multi-chain oracle solution providing high-frequency, accurate pricing data for DeFi applications. The network aggregates real-time data from a consortium of financial institutions and trading firms, ensuring reliability and accuracy.

Pyth Network operates by pulling price data from various publishers, such as trading companies and exchanges, and then making this data available to consumers (i.e., DeFi applications) on demand. This ‘pull’ mechanism allows for efficient data usage, only charging users when data is requested, which contrasts with the ‘push’ approach used by other oracles that continuously send data regardless of demand.

Key features

• High-quality data: Pyth sources its data directly from financial institutions, providing low-latency and highly accurate price feeds.
• Cross-chain compatibility: The network supports over 50 blockchains, making its data widely accessible across different DeFi platforms.
• Governance: Holders of the PYTH token can participate in governance decisions, influencing the network’s development and operational parameters.

As of mid-2024, Pyth Network has secured over $7billion in total value, reflecting its significant adoption and trust within the DeFi community. The network provides price feeds for a variety of assets, including cryptocurrencies, equities, ETFs, and commodities.

New AI crypto coins in 2024

Nosana (NOS)

Nosana is a Web3 project that focuses on providing scalable computational resources for AI projects through a decentralized GPU marketplace on the Solana network. By addressing the GPU shortage crucial for AI model training and inference, Nosana allows users to rent computing power without long-term commitments. This decentralized approach reduces costs and increases accessibility for AI developers.

The NOS token is used to pay for services on the Nosana marketplace, incentivize participation, and reward node operators. This set-up supports a scalable and efficient infrastructure for AI development.

Nosana has raised significant funds and garnered support from the Solana Foundation, indicating a strong foundation for future growth.

DeepFakeAI (FAKEAI)

Although launched in 2023, the project gained prominence earlier this year. DeepFakeAI democratizes access to deepfake technology, enabling users to create realistic AI-generated videos and personas without advanced technical skills.

The platform offers preset characters with realistic voice modulation and synchronized lip movements. It also allows for custom character creation through AI-driven processes. The FAKEAI token, built on the Ethereum blockchain, is used for transactions within the platform, ensuring a deflationary mechanism and incentivizing community participation.

New crypto memecoins 2024

In the past years, Bitcoin’s rally has always been closely followed by the memecoin rally. There’s a notable pattern in every bullish cycle, where traders usually liquidate their positions on major tokens like Bitcoin and Ethereum to invest in more volatile memecoins, hoping to achieve large margins in the short term.

This strategy has created many memecoin millionaires over the years, but it’s also proven risky for many investors. Yet, such bullish cycles always see new memecoins capture the market interest through social media hype. 2024 wasn’t any different, as the market has seen its largest memecoin rally to date. However, this year’s rally was particularly driven by Solana memecoins.

dogwifhat (WIF)

Launched in December 2023, WIF has become the largest memecoin on the Solana blockchain. It has garnered attention for its unique name and community-driven development.

WIF surged by over 2,000% since January 2024 and has been listed on several major exchanges, including Crypto.com and Binance. The token quickly became the fourth-largest memecoin in the market, currently boasting a market cap of over $3billion.

Book of Meme (BOME)

Launched in March 2024 by the artist ‘Darkfarms’, Book of Meme (BOME) is a Solana-based memecoin designed to create a permanent archive of memes using decentralized storage solutions like Arweave and IPFS. It aims to combine meme culture with blockchain technology, creating a digital repository that immortalizes meme content.

BOME experienced significant price fluctuations shortly after its launch, reaching an all-time high of $0.02805 in March 2024. As of June 2024, its price is around $0.013. The total supply is capped at 69 billion BOME, with a distribution that includes a community fund and liquidity pools.

Presale coins to look forward to

In terms of new crypto coins 2024 presale, here are three tokens that are gaining traction on social media:

1. WienerAI (WAI)

WienerAI is a unique memecoin that combines artificial intelligence with meme culture. This Ethereum-based token offers substantial staking rewards, with early investors able to achieve an annual percentage yield (APY) exceeding 1,300%. The presale aims to leverage the viral potential of memecoins while providing utility through AI-driven applications.

The presale has raised over $2.7million, indicating strong investor interest.

2. Sealana (SEAL)

Sealana is another new memecoin built on the Solana blockchain. Inspired by a popular character from South Park, this coin capitalizes on the humor and appeal of meme culture. The token’s presale has been successful, raising significant funds quickly.

Sealana has raised over $120,000 shortly after the presale launch, showcasing robust early interest.

3. Mega Dice Token (DICE)

Mega Dice Token is a presale project from the established Mega Dice Casino. This token is designed to enhance the user experience within the casino ecosystem, providing rewards and staking opportunities to token holders.

The presale has raised over $400,000, reflecting strong initial support and promising potential for growth.

To sum it up

These are some of the top cryptocurrencies that have received significant popularity after launching this year. Although these tokens have seen major attention on the market and social media, they should be considered high-risk investments because of their short tenure in the market. The technology behind these tokens is yet to face the harsh volatility of a bear market.

Therefore, users should always perform due diligence and determine their risk appetite before investing in these tokens. As with any investment, it’s always advisable to diversify your portfolio.

Disclaimer: The information provided in this article is for informational purposes only and does not constitute financial, investment, or other professional advice. The cryptocurrency market is highly volatile and involves significant risk. Readers should conduct their own research and consult with a qualified financial advisor before making any investment decisions.

Frequently Asked Questions

1. 01.

   Which cryptocurrencies have been recently launched in 2024?

   

   Some notable cryptocurrencies launched in 2024 include Book of Meme (BOME), Ethena, Starknet, SLERF, Pyth Network, and Jupiter.

2. 02.

   What trends can be observed among the new crypto coins of 2024?

   

   Trends include a strong focus on integrating AI technologies, decentralized finance (DeFi) applications, and enhancing scalability with layer-2 solutions. Memecoins with innovative features are also popular.

3. 03.

   Are there any upcoming initial coin offerings (ICOs) for 2024?

   

   Yes, several ICOs are scheduled for 2024. Some anticipated projects include WienerAI, Sealana, Mega Dice etc.