The cryptocurrency market experienced the Bitcoin halving event last week where the supply of BTC was cut in half. The development makes Bitcoin scarcely available in the market at a time when there’s a huge demand for the cryptocurrency. As the demand for the cryptocurrency is high, the move could make its price sustainably scale up in the indices in May 2024.
The entry of global institutional investors in the cryptocurrency market through Spot Bitcoin ETFs can make BTC reach new heights. If Bitcoin climbs up the charts, it will also push other leading cryptocurrencies to rally and move in tandem with its price rise. In this article, we will highlight the top 3 coins to buy in May 2024.
VeChain (VET) was among the top-performing assets in the cryptocurrency market in Q1 of 2024. VET is currently trading around the $0.038 mark and is mostly moving sideways in the indices. It spiked nearly 70% between January to March riding the hype of the Bitcoin halving event.
However, VET is down in April this month and barely moved up in the charts in the last 30 days. Now that the BTC halving event is over, a spike in BTC’s price could catapult VET in May 2024. VET has more chances to rise in May 2024 as VeChain mostly moves in tandem with Bitcoin.
Also Read: Settlement Woes Weigh On XRP: Will Ripple Hit $1 Sooner Than Later?
Leading altcoin Cardano’s native token ADA is hovering around the $0.45 price range. ADA is receiving a large trading volume touching $282 million this week. Cardano’s ADA is consolidating in price and a leg-up from here could push the cryptocurrency to climb above the $0.50 mark in May 2024.
Billionaire Elon Musk could soon integrate Dogecoin as an official form of payment for customers to buy Tesla cars. If the cryptocurrency markets rally, Dogecoin is the first to spike double digits and deliver profits to investors. Dogecoin is mostly the sleeping giant of the cryptocurrency market and rallies when the market turns green.
Disclaimer: Our articles are NOT financial advice, we are not financial advisors. All investments are your own decisions. Please conduct your own research and seek advice from a licensed financial advisor.