Coinbase Bullish on Ethereum? Here Are The Top ERC20 Tokens To Diversify With

The post Coinbase Bullish on Ethereum? Here Are The Top ERC20 Tokens To Diversify With appeared first on Coinpedia Fintech News

Coinbase’s latest research report has outlined key factors that could propel the Ethereum price higher in the future. ETH currently lacks supply-side overhangs, such as large token unlocks or heavy miner selling, which typically cap rallies. Moreover, the report highlights that staking and Layer-2 growth are reducing the liquid ETH supply. 

Its dominant position in DeFi looks secure due to the widespread adoption of the Ethereum Virtual Machine (EVM) and scaling innovations. Another potentially large catalyst is that Coinbase projects the market is underestimating the approval of a U.S. Spot ETH ETF. Analyst Michaël van de Poppe also shared a positive outlook, alongside CryptoYoddha, which are two major analysts. 

As a result, tokens based on the ERC20 token standard can experience a major surge in value, and out of the many available, five have gained the most significant attention, including KangaMoon (KANG), Arbitrum (ARB), Polygon (MATIC), Fetch.ai (FET) and Immutable (IMX). Today, we will go over the price performance of each one to see which crypto can climb the most.

Diving Deep Into the Best Ethereum-Based (ERC20) Tokens to Diversify Within 2024

We will now take a much deeper look at Ethereum-based tokens that follow the ERC20 token standard to see why they are the best altcoins to invest in for diversification in 2024. 

KangaMoon (KANG): An Innovator in the Meme Coin and P2E Landscape

KangaMoon (KANG) is dominating the charts with its presale performance as it has already experienced a 400% meteoric upswing fueled by its unique integration of Play-to-Earn (P2E) elements and Social-Fi features. It’s an ERC20 token that is already held by over 6,000 holders and has a user base that exceeds 30,000 people. Moreover, the presale has already secured $6.8 million, with projections that it will reach $9 million by the end of the month, which further underscores the robust trader demand for KANG.

KANG transcends the limitations of projects that are purely speculative and introduces a meme coin with actual utility. It’s used as the in-game currency for the upcoming P2E game that fosters a symbiotic relationship and cultivates a sustainable in-game economy. 

Its Social-Fi elements have also contributed to major growth on social media, as it rewards the most active participants on platforms like X (Twitter). The current price increase from $0.005 to $0.025 also showcases major interest, and the upcoming BitMart listing represents a potential catalyst for even more growth. According to analysts, the Bonus Stage is the last chance to grab KANG at a discount, as it can surge 100x following its launch and major exchange listings, making it one of the best altcoins to buy.

Arbitrum Crypto Primed to Dominate the Charts After Dedicated Grant Tracks Announcement

Arbitrum (ARB) has reached the spotlight recently as they launched the Arbitrum Foundation Grants. This time, projects have the opportunity to apply for Dedicated Grant Tracks, depending on the stage, growth projection, and type of project, which can drive the Arbitrum crypto demand further. 

While the on-chart metrics for the Arbitrum price are neutral, it can soon surge if it regains bullish momentum. According to the Arbitrum price prediction, the crypto can end 2024 at $1.41, positioning it as another one of the best altcoins to buy.

Polygon Ecosystem Expands and Could Soon Break Above $1

Polygon (MATIC) is up on the charts and could soon break past the $1 price barrier due to the recent updates in its state. Specifically, the State of Polygon May edition was released, where it was noted how DePIN projects are laying down the groundwork for Polygon’s protocols, and are building the critical infrastructure that connects Web3 to the physical world. 

Additionally, WELL3 innovates at the intersection of blockchain and wellness and leverages DePIN to enhance health data security and empower personal wellness on a global scale. As a result, the Polygon crypto could soon see far more usage and rise in value. For now, the Polygon price is still struggling to reach the upper resistance scale, but if it does so, then a bull run is ahead of it. Based on the Polygon price prediction, it can end Q4 of 2024 at $1.45.

Fetch.ai Crypto Spikes 840% YTD and Can Move Above $3

Fetch.ai (FET) has also been dominating recently, especially as it is a part of the AI revolution with its latest moves. Specifically, anyone can now get agent-to-agent communication that will enable them to have a far more efficient workflow, and this is evident as the team recently released advanced blockchain monitoring through BlackAgent, which is supported on Ethereum, Polygon, and Chainlink. 

As a result, the Fetch.ai crypto could soon experience a significant uptrend, as it pushes into the realm of AI further. According to the on-chart metrics, the Fetch.ai  price is up 840% year-to-date (YTD). At this rate of growth, it can reach new heights as based on the Fetch.ai price prediction, it can end 2024 at $3.29.

Immutable gets involved with Axelar Network and is poised for growth

Immutable (IMX)’s ecosystem is expanding, as Axelar Network announced that they are getting involved with the Immutable zkEVM’s Main Quest, with gem rewards. Through this, the Immutable crypto could see far more usage in the long term. 

Additionally, based on the recent chart data, the Immutable price is up 227.4% year-to-date (YTD). Now, it needs to break past the $3 price barrier in order to reach new heights, and if it does so, according to the Immutable price prediction, it can end 2024 at $0.0084.

Moving Ahead With the Best Ethereum-Based Cryptocurrencies for Maximum Returns

As Coinbase and many other analysts are bullish on the future of Ethereum, ERC20-based tokens such as ARB, MATIC, FET and IMX can explode in value during the long term. However, out of all of them, KangaMoon has risen 400% in a short time frame, and with its innovative approach, it is positioned to dominate the charts in 2024 and beyond, making it one of the best altcoins to invest in.