Elon Musk is a businessman and investor, known as a founder of SpaceX, Tesla, and owner of social media X. He’s well-know for his supporting of crypto and AI industry. Musk’s actions and statements has had a profound impact on crypto industry. His interest has become obvious after Tesla’s announcement about their investments in Bitcoin. With this decision, Elon Musk has confirmed his significant approval of cryptocurrencies as a store of a value and a potential alternative to traditional financial system.
Recently, speaking at a Bitcoin-focused conference, Musk shared content of his personal crypto portfolio. The billionaire revealed he owns Bitcoin, Ethereum, and Dogecoin. Bitcoin represents the largest part of his holdings. Musk also confirmed that his companies, Tesla and SpaceX, own Bitcoin as well. However, Elon Musk noted his favorite is the meme coin Dogecoin. It shouldn’t be surprising, since Musk is known for his support of DOGE. Dogecoin’s utility is still very questionable, as it was created as an “internet meme” in a first place, and used for tipping. Additionally, cryptocurrency has had a long and problematic history of scams, with incidents such as mining and wallet hacks, and ongoing scams claiming to double or multiply coins. Despite all the Musk’s support, the price of DOGE has not moved that much. Perhaps it doesn’t have the same effect as before, when his single tweet could rise the price with double-digit gains in a few hours.
He has repeatedly expressed his support and advocated for the safety of artificial intelligence. His vision of the future is that AI will perform many tasks, and the machines will have the ability to learn and think just like humans. Instead, people will have more time to explore their passions and focus on “more human values”, such as creativity and empathy. Musk thinks that AI has the potential to solve some world challenging problems, including climate change and space exploration and transportation.
Perchance, I’m not such a successful investor as Elon Musk, but I’ll represent you some altcoins, which could pump in the near future.
Injective (INJ): Power for DeFi Application
Injective is a blockchain built for finance that support advanced DeFi applications, including crypto trading dApps, prediction markets, lending protocols and more. Injective released the largest main net update to date, Volan, which aims to improve scalability and compatibility and contains many additional improvements.
Within the last month, INJ price was rising rapidly, showing its potential for significant profit. It went up from $19 to $40. Based on CoinCodex data, the current forecast for Injective price in 2024 is bullish.
Trading View Source: WhiteBIT INJ Chart
Traders of Injective Exchange don’t pay network gas fees to execute each transaction, instead of it they pay standard market maker taker fees using INJ coins.
Incidentally, Injective team has promised to stake 50 million of INJ Coin in the near future. In the past year, the amount of coins staked risen to 47,7%.
WhiteBIT Coin (WBT): Reward for Holding
WhiteBIT Coin is a native coin, one of the largest European cryptocurrency exchanges. WBT is among the top 100 cryptocurrencies, according to CoinGecko. WBT can be used for holding on WhiteBIT platform, which provides regular reward for it. WhiteBIT owners can have an increased referral rate of up to 50%, benefit from decreased trading fees, free daily withdrawals of ERC-20 and ETH tokens, and free daily AML-checks.
In comparison to previous month, WBT price growth over 8.82%, after it have been with a constant price for a long time. So, in my opinion, it’s currently profitable to invest in WhiteBIT Coin.
Additionally, WhiteBIT has launched its own blockchain WB Network, which allows the token to become a coin, giving more prospects for development. The main goal of WB Network is to promote the widespread adoption of blockchain technologies and provide a transparent infrastructure owned by users.
Cardano (ADA): Promising Pump
Cardano is a decentralized public blockchain and cryptocurrency project that is fully open source. Cardano is used in diverse applications, such as tracking fresh produce and storing educational credentials.
Furthermore, Cardano offers a research-driven approach to design, focusing on academic research and peer-reviewed development to ensure reliability. And Cardano introduced several technological innovations, such as the Alonzo hard fork, Shelley upgrade and more. These accomplishments demonstrate Cardano’s affection for security, scalability and community-driven development.
Looking at the CoinCodex data, price prediction sentiment is neutral, but bullish signals dominate. Therefore, in view of this, ADA could be profitable to invest now.
Celestia (TIA): Rising Star
Celestia is a blockchain network that is distinguished by the use of a modular approach to solving scalability problems that are commonly encountered in traditional blockchain systems. One of the main features is Data Availability Sampling (DAS), which allows light nodes to check data availability without having to download all the data of block.
Despite the fact, TIA was launched only a few months ago, it has already become investors’ favorite. According to GN Crypto, TIA value has surged nearly tenfold since it was released.
In the opinion of popular Crypto Analyst Altcoin Sherpa, TIA is still one to consider for 2024. And DigitalCoinPrice predicts TIA would continue its bullish stance ahead.
I want to remind you that it’s not investment advice. These altcoins are contained in my personal portfolio, and I’m trading them.
But it’s essential to educate yourself about all the risks and consider them before deciding to invest in cryptocurrency.
Disclaimer* Do not forget to do your own research and trust verified sources.
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