Top Ethereum ERC20 Tokens to Invest in 2024

Top Ethereum ERC20 Tokens

ERC-20 tokens have become an essential component of the cryptocurrency world due to their recent massive attention and widespread adoption. Every day, the ERC-20 ecosystem expands, providing a solid foundation for multiple projects with various use cases. However, exactly what are these tokens? What sets them apart? Let’s find out first!

They are a type of Ethereum Network-created and hosted digital token. The technical standard ERC-20 provides a set of criteria and regulations for establishing a fungible project across a network. These tokens, along with non-fungible tokens (NFTs), play-to-earn (P2E), decentralized finance (DeFi), dApps, and the metaverse, have grown to represent the foundation of the decentralized ecosystem. These coins can be kept in ERC-20 or Ethereum wallets.

The top 10 ERC-20 token lists that could be the best investments for 2024 are shown below:

1. Ethereum (ETH)

etherum

Ethereum is the most widely used and costly ERC-20. It is often known as Ether (ETH), which is the native token of the Ethereum network. ETH, the second-biggest cryptocurrency available, has joined the PoS layer and has become a deflationary token.

ETH is one of the tokens that has been growing steadily and showing great power to survive a lot of unfavorable actions. It is anticipated to continue on an upward trend through the end of the year as the rally is being held within a rising parallel channel.

2. Polygon Ecosystem Token (POL)

polygon

This summer, Polygon 2.0, a significant ecosystem upgrade, will take place which will change the MATIC tokens to POL. The first step of the process has already started as the POL upgrade is now active on the Ethereum Mainnet.

The POL’s trading journey has just begun, and it will soon be combined with the well-liked MATIC token. The POL price could experience a significant surge in the upcoming months due to the token migration.

3. Wrapped Bitcoin (WBTC)

wbtc

Wrapped Bitcoin is an ERC-20-compliant tokenized version of Bitcoin that operates over the Ethereum network. WBTC is automatically tracked by custodians and merchants who make sure the price is fixed to Bitcoin.

As WBTC is linked to the price of Bitcoin, its fluctuations are similar to those of BTC. The price of Bitcoin looks to be heavily influenced by bearish forces, but there is a good chance that it will rise in a bullish manner.

4. Maker (MKR)

maker dao

Maker is the native token of the Ethereum-based Maker system and Maker DAO. Users can issue and manage DAI stablecoin and perform voting rights over the project’s advancement because of the protocol.

After the incredible 2021 bull run, the price of MKR was trapped under a strong bearish trend. It is anticipated that the MKR price will recover sharply and bounce fairly, quickly squashing any bearish momentum.

5. Chainlink (LINK)

chainlink

Chainlink is referred to as the oracle of the decentralized network since it uses smart contracts to link different blockchains. It makes it possible for the blockchains to safely communicate with outside events, data feeds, and payment systems. Additionally, it provides certain essential off-chain data that is needed for complicated contracts to implement the digital agreement.

After a prolonged period of consolidation, the price of LINK has surpassed a two-digit amount. The price is expected to break through the levels and build up a nice rise in the second half of 2024.

6. Uniswap (UNI)

uniswap.org

Uniswap is a widely used decentralized exchange (DEX) that operates on the Ethereum network. It makes it easier for automated market makers (AMM) to manage the automated trading of DeFi tokens. It increases efficiency by using automated methods to address liquidity problems.

Just like LINK, the UNI price is also stuck in a fairly small range for a long time without breaking into the double digits. According to the most recent price action, the price is trapped in a falling triangle, but bullish forces should shortly burst through the resistance and boost the trend.

7. Aave (AAVE)

aave

Aave is a decentralized, permissionless DeFi network that lets users lend and borrow cryptocurrency quickly. To make money by lending, supplying, and developing applications, one can create non-custodial markets.

For an extended period, the Aave price has been moving in a confined range since the bulls are unable to move higher. But the volume has been wildly shifting, suggesting a respectable level of trader engagement. Thus, a bullish recovery may happen soon in the upcoming days.

8. Decentraland (MANA)

decentraland

It’s an Ethereum-powered virtual reality platform where users can develop applications and content that can be sold. On the decentralized platform, users can use its native token MANA to buy land parcels as NFTs. These tokens can be used to purchase a variety of clothes, names, avatars, and other items.

After the 2021 bull run, the price of MANA has remained trapped between a few predetermined levels. On the other hand, extreme compression leads to a powerful breakout, which is anticipated to happen later in the year. In light of this, the price of MANA might recover and surpass $1.

9. Shiba Inu (SHIB)

shibtoken

As a fierce rival to Dogecoin, Shiba Inu is a well-known doge-based cryptocurrency on Ethereum. The token has received a lot of attention and has become more widely used after the release of Shibarium, the DEX for SHIB. In addition to SHIB, BONE is a valuable component of the ecosystem.

In 2021, after the DeFi boom, the DeFi tokens quickly lost their appeal. On the other hand, the price of SHIB has been steady above the critical level. This may continue for a while longer until it leads to a bullish breakout.

10. Lido DAO (LDO)

lido.fi

Lido DAO is one of the well-known Ethereum liquid staking platforms, which lets users stake their ETH and get stETH in return. As a governance token, the native token LDO enables its holders to cast votes on important issues and take part in governance proposals.

The LDO price has seen significant fluctuations in the cryptocurrency market since its inception. As the Proof-of-Stake layer and Ethereum network merged, the token’s visibility increased. But the buying pressure is still strong, thus the token’s upward momentum could last until the end of 2024.

Why Invest in ER20 Coins?

ERC20 tokens are a great option for investments since they can be utilized in a variety of settings and have many advantages. They are very adaptable due to their usage of smart contracts which creates new possibilities for both individuals and businesses. Since ERC20 tokens are so highly scalable, their transaction fees are usually lower than those of other networks’ currencies, such as Bitcoin.

ERC20 tokens allow owners to generate passive income from their cryptocurrency holdings. ERC20 investors have access to decentralized lending, borrowing, and cryptocurrency trading. Investors can also earn rewards and participate in network governance by staking ERC20 tokens.

Conclusion

In addition to the tokens listed above, a large number of other ERC-20 standard tokens have become increasingly popular in the cryptocurrency space. Furthermore, a tonne of other initiatives with promising use cases are still in development that might revolutionize the DeFi area. Since it is anticipated that the price of ETH will rise sharply and reach all-time highs, the projects being developed on the Ethereum network may therefore be significantly impacted by the impending bull run.