Major cryptocurrencies have started to correct to the downside after the banking “crisis” calmed down and Bitcoin (BTC-USD) failed to break the $30,000 level. However, there are thousands of cryptocurrencies in the market, and among them are some hidden gems that you could buy during the trough before the crypto market rallies again. There are two main reasons for me believing that the crypto market will have another rally sometime in 2024: the Federal Reserve’s rate cuts and the Bitcoin halving. Investing in some promising projects with good use cases is a good idea before that happens, as they usually deliver higher returns during rallies.
Nevertheless, I would note that small-cap cryptos are not for the faint-hearted as they are often plagued with scams and manipulation. You’ll be stepping deep into speculative territory and the downside risk is just as extreme.
Keeping that in mind, let’s look at the three best crypto coins for maximum ROI:
r/Cryptocurrency Moons (MOON)
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One of the most underrated crypto tokens in the market right now is r/Cryptocurrency Moons (MOON-USD). This is the reward token of Reddit’s largest crypto community, which has over 6.4 million members. I have been bullish on this token since November, and it has not disappointed me. It has soared more than 300% since December 2022 to its peak in March, thanks to several positive developments that have boosted its utility and demand.
However, the token was initially launched on the Rinkeby Testnet, which limited its functionality and value. But now it has migrated to the Ethereum (ETH-USD) mainnet, which opens up a lot of possibilities. For example, advertisers can now use MOONs to rent the banner on the subreddit, which is a valuable spot for reaching millions of crypto enthusiasts. This creates a steady demand for the token and reduces its supply.
Another exciting feature that is coming soon is the Reddit NFT marketplace, where users can buy and sell non-fungible tokens using MOONs.
But perhaps the biggest catalyst for MOONs is the potential listing on major exchanges. Some exchanges provide active support on the subreddit and could list it during the next rally. Thus, I believe MOON is one of the best crypto coins for maximum ROI.
Aleph Zero (AZERO)
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Aleph Zero (AZERO-USD) is a project that has been verified by academic experts and has a practical purpose. It is still a newcomer in the crypto space, but it has some remarkable features that make it stand out from many of the leading projects. For example, the Aleph Zero blockchain achieves almost instant finality. Their consensus protocol can handle 100,000 transactions per second (TPS) with a confirmation time below zero. The ecosystem also supports private smart contracts like the Secret (SCRT-USD) blockchain, IPFS decentralized file storage like Filecoin (FIL-USD), an information bridge oracle like Chainlink (LINK-USD) and very low-cost transactions like Solana (SOL-USD).
It also has substrate integration which allows blockchain developers to easily migrate their decentralized apps (dApps) to Aleph Zero.
However, the project has not been well-promoted and remains obscure. Also, I would not put too much weight on these TPS numbers – the ecosystem needs to have useful dApps and projects that can utilize its potential. Of course, it is a small project, and I would highly recommend not putting a significant amount of money into AZERO. After all, the crypto space is saturated with false promises. But since it is peer reviewed and appears to be among the best crypto coins for maximum ROI, I do believe there is a lot of potential here.
Although Filecoin is a very promising project, it is has a market capitalization of over $1.8 billion, which could limit your ROI. But I believe this project can be a top 10 token once blockchain storage gains popularity.
The cloud has been exceptionally hot since late 2022 and early 2023. Even with the recent slowdown, it is spearheading growth in most of the big tech companies. It is not far-fetched to think that some of this cloud sector money could find its way into projects like Filecoin, especially for individuals and institutions that seek a decentralized alternative without censorship or privacy issues.
Furthermore, Filecoin’s recent Filecoin Web Services (FWS) launch in late April could help it come out of obscurity and compete with its centralized peers such as AWS, Google Cloud and Azure.
Nonetheless, I would caution that FIL has a very high rate of inflation. Filecoin’s inflation is above 108%, which makes it unsustainable to hold this token for the long run.
On the date of publication, Omor Ibne Ehsan did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Omor Ibne Ehsan is a writer at InvestorPlace. He is a self-taught investor with a focus on growth and cyclical stocks that have strong fundamentals and long-term potential. He also has an interest in high-risk, high-reward investments such as cryptocurrencies and penny stocks. You can follow him on LinkedIn.
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