Take a look at stablecoins. How are they different from other crypto assets? And are they a good investment?

Stablecoins have become increasingly popular, with their market cap reaching $164 billion in August 2024. But how are they different from other crypto assets? And are they a good investment? Let’s explore more about what it is.

Stablecoins are crypto assets that have their price pegged to or backed by a stable asset, or group of assets. Most are pegged to fiat i.e. real currency. However, some may be pegged to the price of commodities such as gold, or even other crypto assets. Some are not pegged to any asset. 

Many see stablecoins as having the best of both worlds – they possess the blockchain technology that most crypto assets possess, but are without the volatility that Bitcoin and other crypto assets can suffer from. They are stable coins in the literal sense of the word. 

How do stablecoins work so they are actually kept stable?

How is Price Stability and Low Volatility Achieved?

Price stability and low volatility are often cited as major advantages of stablecoins. It should be noted however that stablecoins are only as stable as the asset they are pegged to. 

Although by their nature, stablecoins are pegged to assets that are expected to be stable themselves, that’s not to say they are not immune to volatility. 

Price swings could still happen, thus affecting the volatility of the stablecoin. Thankfully, this is rare. Stablecoins are generally very stable because of the high stability of the asset they are pegged to. 

But how are stablecoins kept stable, or in other words, how do they keep their peg maintained? 

This comes down to the issue of trust. For the peg to be maintained, the market needs to have trust in the asset the coin is pegged to. That’s why coins are pegged to trusted assets such as US dollars, gold and oil. 

 (USDT), for example, is pegged to the U.S. dollar, meaning that for every unit of USDT, parent company Tether keeps a U.S. dollar in reserves. If the market didn’t hold trust in that one unit of USDT was worth one dollar, then it would crash. However, the fact that USDT for the most part has been always very close to one dollar in value, is a testament to the trust the market has in it.

Price stability and low volatility can bring convenience, but in what ways are stablecoins used? 

Stablecoins are being increasingly used for transactions, with the blockchain technology enabling international transactions to be done significantly more quickly than more traditional means. Additionally, some individuals and merchants may be perhaps understandably resistant to transact in a crypto asset which may fluctuate in price massively in a short period of time, such as Bitcoin. With stablecoins, this risk is significantly lower.

Also in developing countries, they are used as an alternative to the failing bank systems where many don’t have a bank account at all and hyperinflation can be a huge problem. 

was launched in Venezuela and Angola in 2019 in an attempt to combat these issues.

Let’s imagine a trader is concerned about the risk of the price of Bitcoin falling against the U.S. dollar. They may not want to exchange to fiat, as this can be expensive due to processing fees. So, that’s where exchanging to a stablecoin can be a handy option. They could be exchanged to a stablecoin pegged to the price of the U.S. dollar, such as USDT or USDC, and this risk is then taken away.

 in recent years has become well-established in the financial sector, and offers a public blockchain-based alternative to traditional financial services through the use of smart contracts. Stablecoins play their part as they offer a stable means of transactions taking place in the DeFi system.

Four different types of stablecoins exist. Three types are backed by collateral, and one type is not. In addition to this, two types are centralized (held by a central entity), and two types are decentralized (not held by a central entity).

Most stablecoins are pegged to fiat currencies, such as USD, EUR or GBP. This is done at, or very near to, a 1:1 ratio. This essentially means that for every stablecoin, there is a unit of fiat currency stored somewhere in reserves too.

So let’s imagine that somebody wants to convert their stablecoins into cash. The institution storing the stablecoins will send the fiat currency being stored in reserves to the individual’s bank account, and the amount of stablecoins equating to the amount of fiat circulation will be removed from circulation.

Most stablecoins in this category are collateralized to gold, but they can be collateralized to other commodities too, including metals, oil, or real estate. These commodities act as mechanisms to limit price volatility. Commodity-backed stablecoins can give everyday investors the opportunity to invest in commodities. Although investments in assets such as gold have traditionally been for the rich, these types of stablecoins have opened them up to potentially a whole new demographic of people.

Some stablecoins are pegged to crypto assets. In contrast to fiat-backed stablecoins, crypto asset-backed stablecoins are issued through smart contracts. As crypto asset prices can be notoriously volatile, coins are often backed by multiple crypto assets. So if one suffers price volatility, the others can absorb the shock while remaining stable. 

Additionally, some are protected by a process called over-collateralization. It means when the coin is backed by an asset more than the value of the coin, and is used as a protective measure. So, instead of a ratio 1:1 like fiat, the ratio may be 1:2 instead, meaning that the stablecoin is backed up by crypto asset collateral double its value.

Believe it or not, noncollateralized stablecoins do exist: this type of stablecoin is known as the 

. The supply of these stablecoins is controlled by algorithmic pegging and smart contracts. Supply and demand drive the prices of these stablecoins. The supply of these stablecoins is controlled by an algorithm-based model known as seigniorage shares.

If the price of the stablecoin increases, then coins will be issued by the algorithm until the supply and demand achieve equilibrium. If the price of the stablecoin decreases, then the supply of the coins will be reduced until supply and demand also achieves equilibrium. By doing these things, the algorithm can keep the price of the coin stable.

There are contrasting options on whether stablecoins are a good investment or not. Let’s look at some of the arguments for and against.

Reasons for Stablecoins Being a Good Investment

Reasons for Stablecoins not Being a Good Investment

Although the question of if stablecoins are a good investment is open to debate, what isn’t is that they have much potential. They bring the benefits of blockchain technology and stability, meaning they can be relied upon for transactions in the crypto ecosystem. Their mass adoption has the potential to revolutionize traditional means of financial transactions and provide a much-needed avenue for the billions unbanked (those without a bank account) around the world. They could prove to be a safe haven from the hyperinflation which plagues some third-world countries. The future is bright for stablecoins. 

Beginner

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Stablecoins: Unpacking Their Role & Impact in the Crypto Market

Explore the top 13 trending crypto tokens of 2024, including meme tokens, such as TURBO and MEW, and tap-to-earn tokens, such as PIXFI and NOT.

The current year (2024) has started strong with the 

 in January, leading to a price rally for 

 and the entire crypto market as sentiment shifted positive. Then, following the fourth 

 in April 2024, Bitcoin’s price broke records with a new all-time high of over $73,800, further cementing crypto enthusiasts’ belief in a strong 

The market’s confidence was further bolstered when 

 earlier than expected on May 23, 2024. This significant milestone achievement has led many experts to deduce that a bull run is imminent.

, have been spurred by overall market positivity and Bitcoin’s innovations. They’ve popped up one after another, with many 

 enjoying a spurt of popularity, in particular, 

Curious to learn more about these top trending 

 and explore the potential yields they offer? Read on!

 is a modular cross-chain interoperability protocol that enables blockchains to communicate seamlessly without 

 or third-party providers through immutable 

. To facilitate the native transfer and storage of tokens across different blockchains, LayerZero has also launched various token standards, such as the OFT (Omnichain Fungible Token) standard and ONFTs (Omnichain Non-Fungible Tokens). 

ZRO, the native token of LayerZero, is used to power its ecosystem. The token has been pumping lately, from a low of $3.78 on Jul 19, 2024 to an ATH of $5.53 on Jul 22, 2024.    

 (TON) is the native coin of The Open Network (TON), which Telegram founded in 2018. Its

 network became fully decentralized in 2021 after Telegram ceased working on the project. 

TON has been enjoying a series of highs since early 2024, with the recent proliferation of Telegram-based tap-to-earn crypto games such as 

. Its recent innovative developments, including the integration of the USDT 

 on Telegram and the ability to accept crypto payments on Telegram, have expanded its use cases and further bolstered its popularity. 

TON achieved its ATH of $8.25 on Jun 15, 2024, reflecting an increase of over 300% from its February 2024 average of $2. TON ranks in the top ten among all crypto assets, with a current market capitalization of $17.25 billion (as of Jul 23, 2024), making it undoubtedly one of the best cryptos to buy right now.  

Till Aug 2, 2024, TON is one of the top trending cryptos in Bybit Türkiye’s 

 where you can get your hands on a TON airdrop worth up to $10,000! 

-based meme coin that pays homage to Matt Furie, the creator of the “Pepe the Frog” meme. Its leveraging contributed immensely to the coin’s popularity, as it crossed the $1 billion mark in market cap within just three weeks of its launch in April 2023. 

Pepe’s no-tax policy continues to give it an edge over other Ethereum-based meme coin competitors. This perk incentivizes users to trade and transact more, since there’s no 

 attached (which can significantly raise transaction prices, due to Ethereum’s high gas fees).

PEPE’s most recent ATH was recorded just two months ago on May 27, 2024, at $0.0000172. While PEPE’s price may have dropped during the market retracement in early July, it’s since recovered — and may continue to rise and even flip its previous ATH to reach a new ATH if it breaks its resistance level 

 (Jul 22, 2024).   It’s also one of the trending altcoins in Bybit Türkiye’s Hot Coin Extragravanza. 

PeiPei (PEIPEI) is yet another frog-themed meme coin on the Ethereum chain. It was inspired by Matt Furie’s Pepe the Frog, albeit with an Eastern cultural twist symbolized by the red frog’s straw hat. Just as with PEPE, PEIPEI features zero taxes for its users. PEIPEI has been hitting new ATHs since its launch on Jun 7, 2024, with its most recent one recorded just two days ago at $0.00000039 on Jul 19, 2024. 

As a new entry to the market, PEIPEI’s current market cap is still relatively modest at $140.7 million. However, this is set to propel to new heights, especially after a huge backing by the Bitcoin OG investor, Davinci Jeremie, who declared himself the 

 on Jul 17, 2024, stressing its potential to surpass the $1 billion market cap. 

  Until the end of Jul 29, 2024, you can also earn up to a 

 by participating in various PEIPEI events on Bybit Türkiye.

AVAIL is the native token driving the economy of 

 infrastructure that aims to unify web3 ecosystems. Avail’s unification layer comprises three individual layers: a data availability base layer to aid blockchains in boosting their scalability and security, a Nexus layer for cross-chain interaction and a fusion security layer to integrate non-native tokens to the base chain with enhanced security for rollups built on Avail. AVAIL is used for staking in the various layers and for governance.

  To celebrate the AVAIL Spot listing, from Jul 22 to Aug 5, 2024, Bybit Türkiye is holding three events with a total prize pool of 

PIXFI is the native token driving the economy of 

, a cyberpunk-themed video gaming platform integrated with the 

, is a tap-to-earn on Telegram. Additionally, Pixelverse offers a web-based platform and game where players can create their own 

 (NFT) bots and participate in large-scale PvE battles.

 mechanism, which adds to its value. It was released on Jul 18, 2024, at $0.023485, and attained an ATH of $0.09768 the next day, reflecting an increase of over 315% within a single day. While PIXFI’s price may have momentarily slipped down to 

, the project shows promise for the long term, given its partnerships with popular meme tokens 

PIXFI can be traded on Bybit Türkiye’s 

, and till Jul 31, 2024 you can grab a share of the 

MEW is one of the top meme tokens experiencing a solid rally, with its recent pump of over 92% in just three days from $0.0039 (Jul 19, 2024) to $0.0075 (Jul 22).

 (MEW) is a cat-themed meme coin built on the

 (SOL) blockchain, with unique tokenomics that help cushion its price against market volatility. Of its maximum supply of 88,888,888,888 tokens, 90% were burned as 

, and the other 10% were distributed to the Solana community in an 

Pixelverse has also announced the addition of MEW as a playable character to its Telegram mini-games 

, making it the first Solana-based meme coin to be featured on the TON blockchain. This positive news definitely makes MEW the best crypto to buy right now — because when the character gets released in Pixelverse’s games, the MEW token’s price is likely to jump to greater heights.

MEW currently ranks fourth among the top Solana meme coins, priced 

 (TURBO) sets a precedent as the first AI-generated meme coin created by ChatGPT-4. It’s an 

 token with a total supply of 69 billion. While it was released around the same time as PEPE in 2023, TURBO didn’t experience the same level of fanfare, and slowly grew by word of mouth. It eventually gained traction when NFT artists Pak and Beeple discovered it and shared it with their audiences, leading to its meteoric rise in May 2024. 

Its rally from late May 2024 culminated in an ATH of $0.0097 on May 28, an increase of over 3,000% from its initial price of $0.0003 just over a year ago. Its price then cascaded downward over the next two months, particularly with the market retracement in early July. 

However, its price shot up by 79% in the space of three days, from Jul 19–22, 2024, to reach $0.0077. This impressive price gain within such a short span indicates that a new ATH is soon to come for this top-trending crypto asset.

  Bybit Türkiye Web3 Swap is a decentralized token-swapping platform that allows users to exchange over 2,000 tokens across eight major chains, including 

 is a multichain Layer 3 rollup infrastructure that facilitates the interaction of Layer 1 and 

 (DApp) environment with low costs and high throughput. Together with its modular stack, DApps can be scaled seamlessly within the zkLink ecosystem.

zkLink offers two main products: zkLink Nova (an 

-compatible, aggregated Layer 3 rollup designed to unify ETH Layer 2s) and zkLink X (an aggregated rollup middleware engine for building high-performance customizable DApps).

ZKL, zkLink’s native token, is imbued with utility and governance purposes and has a total supply of 1 billion. It was just launched on Jul 22, 2024, making it one of the best cryptos to buy right now before it starts its bullish ascent. 

 (SLERF) is another Solana meme coin that’s rapidly shot up to become one of the leaders in the space, and now sits firmly in tenth place. It experienced a controversial release in March 2024, when its developer claimed to have accidentally burned $10 million in SLERF tokens meant for pre-sale buyers. And yet, this incident propelled it to the top, as its community saw this admission as a demonstration of accountability. 

Almost immediately after its launch, SLERF’s market cap mushroomed to an ATH of $750 million. Thanks to the announcement that it will be listed on the OKX exchange, SLERF experienced a spike from $0.22 to $0.308 on Jul 23, 2024. This positive news has fueled bullish sentiment for the SLERF meme token, with expectations of it being listed on more Tier 1 exchanges.  

You can’t have Solana meme coins leading the crypto wave without the Solana blockchain itself. Solana has never been brighter, thanks to the recent meme coin frenzy that’s charged its rally from the start of 2024. 

 (BONK) was the project that led to a turnaround for Solana, which was in turbulent waters during the crypto crash in 2022 due to 

 the main culprit contributing to the crash.

SOL has been enjoying a significant price surge of over 40% recently, increasing from $122.65 on Jul 5 to $177.74 on Jul 22, 2024. As it’s still some distance away from its ATH of $259.96 (achieved on Nov 6, 2021), SOL could possibly be among the best cryptos to buy right now.  

 (NOT) is the gaming token in the viral Telegram tap-to-earn game, 

. It was the first clicker game on Telegram, and pioneered the rise of all clicker games. 

 was released in January 2024 and achieved a total of 6.3 million users entirely via word-of-mouth advertising within just 10 days of its release, due to its simple and addictive gameplay. 

NOT was initially an in-game currency in the clicker game. When it was minted on the TON blockchain, millions of players could convert their in-game coins to NOT, which could then be traded. This led to an explosion in its popularity, with NOT soaring to its ATH of $0.028 just two weeks after its token launch on May 16, 2024 at a low of $0.0075. 

NOT has since achieved a market cap of over $1 billion, and currently 

’s AI network aims to develop an AI-enabled decentralized digital economy through its customizable AI agents, which help solve targeted problems for users who communicate with them via 

, a search-based AI chatbox similar to ChatGPT. FET, Fetch.ai's native utility token, is used to pay for Fetch.ai services and network transaction fees. It can also be staked on the Fetch.ai mainnet to help secure the platform’s PoS network.

, with the unification of Fetch.ai (FET), the Ocean protocol (OCEAN) and SingularityNET (AGIX) merged into one token. The Fetch.ai mainnet’s upgrade will automatically convert all FET tokens to ASI. While the announcement of the merging of the three tokens have caused some price fluctuations, many crypto enthusiasts remain bullish, with analysts predicting a price surge as Phase 2 of the rebranding commences.

While FET had suffered during the market retrace in mid July, upon market recovery, FET 

. Based on its long-term price's positive outlook, FET could be one of the best cryptos to buy right now. You can buy FET on Bybit Türkiye as the 

Till Aug 2, 2024, you can also grab a share of FET from the

, is offering a 60,000 FET prize pool, while the second, 

Thus far in 2024, the crypto market has witnessed notable milestones, such as the fourth Bitcoin halving and the approval of Bitcoin and Ethereum Spot ETFs, fueling an overall bullish trend that’s propelled numerous altcoins. Meme coins, blockchain protocols and tap-to-earn platforms have been particularly prominent, showcasing the diverse range of trending crypto projects rapidly emerging in the crypto space. 

: All trading carries risk. Only risk capital you can afford to lose.

Intermediate

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Top 13 Trending Crypto Tokens: Your Guide to the Hottest Picks in 2024

Search trends reveal investors' interest in crypto based on their interest and many other factors. FInd out what's the most searched coins now.

A lot has happened in the past several years for crypto, whether it’s the bull run in 2021, the downturn and crypto winter in 2023 or Bitcoin’s price recently topping $66K. Regardless of the source of your interest in crypto or your eagerness to know which crypto assets are drawing the spotlight in 2024, our streamlined rundown of the top 10 most searched cryptos in 2024 provides the insights you're looking for. 

Read on for straight-to-the-point information on the digital currencies catching investor interest, as well as the driving forces behind their popularity.

2024's Crypto Leaders: The Rising Demand for Crypto assets

In the limelight of the crypto market, certain cryptos have risen above the rest. Among the most searched crypto assets are the following meme coins and blue-chip coins:

These crypto assets have captured the lion’s share of the attention for various reasons, from their unique features to their celebrity allure.

Community-focused cryptos such as Bonk (BONK), Meme Kombat (MK) and Sponge V2 (SPONGEV2) have also captivated a significant influx of interest from retail investors with their aggressive marketing and social media savvy. 

Each of these digital assets holds a unique appeal. Whether through innovative technology or masterful engagement strategies, each one has carved out a spot as one of the most popular crypto assets of the year thus far.

Deciphering the Search Trends: What Drives Popularity in Crypto?

Crypto assets have grown in popularity due to several key factors:

Investors adept at navigating market sentiment often employ resources such as CoinGecko's 

 and other analytical tools that gauge social mood to keep up-to-date with ongoing trends in crypto asset circles. The task goes beyond simply pinpointing top-performing crypto assets: it centers on understanding and engaging with the stories that envelop these assets, and the way these narratives impact and align with the collective mindset of individuals involved in crypto asset.

Within the crypto market, many digital currencies start by claiming their stake, offering distinctive features that appeal to various global segments. These crypto assets include the following:

Together, these prominent currencies form an intricate mosaic of available crypto assets in the marketplace. It's worth exploring what makes these top coins so appealing, and why and how their unique selling points contribute to their prominence in the market.

Dominating the digital currency landscape, 

's immense market capitalization and its widespread use in transactions underscore its preeminence. As it merges with traditional financial systems and gains recognition as a haven of value amid economic instability, Bitcoin captures exactly what countless investors are searching for.

, Bitcoin consistently tops the chart as the most frequently researched crypto asset, and holds the distinction of having the highest 

 (fear of missing out), combined with the ability to provide services to people without bank accounts, has contributed significantly to Bitcoin’s global popularity. Continued influx of institutional money into Bitcoin, advancements like 

 and BRC-20 tokens on the network itself, and the progress toward clearer regulations all highlight the evolutionary maturity within Bitcoin's ecosystem, solidifying its status at the pinnacle of crypto asset investment opportunities.

As of March 4, 2024, Bitcoin ($BTC) has topped $66,000, with over $1.3 trillion in market cap. The next Bitcoin 

, expected to occur in April 2024, could further boost this price surge. 

Ethereum (ETH): The Smart Contract Pioneer

 (DeFi), Ethereum's blockchain platform is the breeding ground for innovative 

. This draws institutional investors to its secure and reputable environment, with developers busy engineering 

 (DApps) that tackle pressing, real-world issues. The critical role played by Ethereum's smart contracts in powering numerous applications has magnified interest in the platform, solidifying its position as an essential element within a varied crypto asset investment strategy.

The unique adaptability and functionality that Ethereum’s network provides stand unmatched, presenting its platform as an avenue for users to navigate risks associated with the often turbulent crypto market. 

As of March 4, 2024, Ether ETH) is worth over $3,550, with a market cap of over $420 billion. Meanwhile, the upcoming Q1 2024 

, with its focus on increasing the scalability and efficiency of Ethereum’s network through nine 

 (EIPs), is also expected to cause a price surge, due to potential wider crypto adoption.

Tether (USDT) & USD Coin (USDC): Stablecoin Dominance

Within the volatile realm of the crypto market, stablecoins such as 

 (USDC) act as beacons of stability, proffering a measure of stability to investors. These crypto asset equivalents to digital dollars are linked closely with the value of fiat currencies, delivering refuge from the often wild fluctuations typical among other crypto assets. Stablecoins allow traders to quickly move in and out of positions without worrying about the price swings of the underlying asset, facilitating faster and more strategic trading.

 are the backbone of many DeFi applications and also act as a reliable medium for lending and borrowing within DeFi protocols, facilitating various financial activities. For example, stablecoins can be used as a medium to 

 (DEXs), facilitating smoother and faster trading of various assets.

USDT and USDC are pegged to the U.S. dollar, and are thus always worth its equivalent value of $1. However, the market caps for USDT and USDC have grown to a combined amount of over $118 billion, clearly indicating an increased adoption of and demand for crypto. 

Solana (SOL): A New Contender for Speed and Efficiency

 has risen as a strong contender in the crypto asset space, offering an infrastructure that’s tailor-made for handling transactions at high speed and large volume. This scalable and effective substitute to conventional blockchain networks has captured significant attention, as evidenced by search trends.

Solana stands toe-to-toe with Ethereum, featuring reduced costs per transaction and a bustling ecosystem filled with DeFi and 

 (NFT) initiatives. It appeals to developers and users alike who are looking for a platform where rapidity meets cutting-edge innovation. 

What’s more, Solana-based NFTs have been experiencing a surge in popularity, as indicated by their rising sales volume. For example, according to data from 

, Solana-based NFTs have surpassed the $5 billion mark in all-time sales volume as of February 2024. Meanwhile, monthly sales volume has consistently exceeded $50 million since November 2023, with December 2023 recording a record-breaking $365 million. This increasing sales volume reflects a growing user base engaging with Solana-based NFTs. As of February 2024, the blockchain boasts over 2.2 million buyers and 1.6 million sellers, indicating a thriving community actively participating in its ecosystem.

As of now, Solana ($SOL) is priced at around $130 with a market cap of over $58 billion. The next major event for Solana is the Breakpoint conference, which will be held in Singapore from September 21–24, 2024. This gathering aims to bring industry leaders, developers and enthusiasts together to discuss the Solana ecosystem's future, and to explore potential blockchain technology applications.

Ripple (XRP): The Financial Institution's Choice

's digital asset, XRP, is recognized as the preferred bridge currency among financial institutions for conducting international transactions. The attention it garners stems both from its critical function within finance and the legal issues that have brought it under investor and regulatory watch.

The singular status of Ripple's XRP, combined with the intense examination it receives, has turned it into a subject that captivates investors and prompts extensive debate among crypto community members.

Ripple ($XRP) is currently priced at $0.65, with over $35 billion in market cap. Based on Ripple's recent focus toward expanding its global reach, potential future partnerships could involve emerging markets, with the growing demand for efficient cross-border payment solutions. 

Binance Coin (BNB): More Than Just a Token

Binance Coin, commonly referred to as BNB, has evolved far beyond its initial role as a utility token on the 

 exchange platform. It now boasts widespread applications across numerous blockchain networks, including significant integration within both 

Within the expansive ecosystem of Binance, BNB serves not just as a token but also as an increasingly versatile asset that provides a range of bonuses and advantages to its users. This progression marks its transformation into a complex crypto asset instrument. As of March 4, 2024, Binance Coin ($BNB) is worth over $415, with a market cap of over $64 billion. The recent launch of Portal, a cross-chain gaming platform, on Binance Launchpool could be one catalyst for the price surge, along with the current near-record price increase of Bitcoin.

Cardano (ADA): A Research-Driven Blockchain Network

 (ADA) stands out in the crypto market as a blockchain platform with a strong emphasis on research and development, focusing particularly on addressing concrete problems encountered in the real world. Its commitment to academic thoroughness distinguishes it within an industry aiming to solve such real-world issues. 

Cardano provides an effective environment for smart contracts and DApps, while tackling prevalent concerns such as scalability and sustainability that plague many blockchains.

The rigorous, scientifically-oriented strategy employed by Cardano has resulted in both support and criticism, but ultimately has cultivated a fervent segment of supporters among those engaged with crypto asset. ADA’s current price is $0.76, with a market cap of over $27 billion. 

Filecoin (FIL): A Pioneer of Decentralized Storage Network

Filecoin offers a novel approach to data storage, aiming for increased security, decentralization and user control. Meanwhile, its native coin, FIL, is used to incentivize network participants. For example, storage providers earn FIL for storing data reliably and securely, while users pay FIL to store their data. 

Unlike traditional cloud storage providers controlled by single entities, Filecoin utilizes a peer-to-peer network. Individuals can contribute their storage space and earn rewards, while others can pay to store their data. This eliminates central control and censorship risks.

FIL is currently priced at almost $10, with a market cap of over $5 billion. Filecoin’s 

, whose prominent blockchain platform is used as the primary

 to archive Filecoin’s blockchain data, has garnered significant attention, potentially attracting new users and investors who see the partnership as a positive validation of Filecoin's technology and its potential applications.

Dogecoin (DOGE): The Meme Coin Phenomenon

 to the status of a definitive meme coin has been bolstered by support from pop culture figures, including Elon Musk. Born out of lighthearted beginnings and gaining cultural importance, DOGE continues to be a key topic in discussions about crypto, illustrating how camaraderie and wit can influence the typically earnest world of crypto asset investment.

DOGE is currently trading at over $0.17, with a market cap of over $25 billion. According to CoinMarketCap, DOGE is the only meme coin listed in the top 10 cryptos by market cap. 

Toncoin (TON): Emerging Dark Horse in the Crypto Race

 is gaining popularity as a standout in the world of crypto assets, thanks to its implementation of user-friendly ID integration and swift transaction capabilities. Its impressive scalability and high throughput have caught the attention of developers, and an increasing market cap signifies its burgeoning role within the crypto asset marketplace.

Discover the Top 10 Most Searched Crypto in 2024: Investor Insights

In crypto, it is important to be wary of scams that you could fell prey to. In this article, we shed light on some of the most well-known ones and how to avoid them.

Crypto assets has revolutionized the way we perceive and interact with money, but with great innovation comes great responsibility. The digital landscape is riddled with scams and fraudsters eager to prey on unsuspecting investors. Protecting your hard-earned digital assets requires vigilance, research, and secure practices. In this post, we will explore the various types of crypto scams, offer essential tips on how to avoid crypto scams and provide guidance on reporting and recovering from scams.

Crypto scams come in various forms, each meticulously designed to part you from your digital assets. The tactics employed by crypto scammers are as diverse as they are dangerous. It’s important to stay vigilant and educate yourself about these scams to protect your assets.

Understanding how these scams operate and learning to recognize red flags are key steps toward safeguarding your assets.

One easily identifiable scam is fake crypto projects. These projects usually identify themselves as alternative options to more significant crypto assets. For example, a crypto asset may claim to be an upcoming fork of an established crypto asset, such as 

 (ETH), or simply a new crypto asset from the parent company of Ethereum. They lure you into getting interested in it since crypto, such as Ethereum is booming, but at the same time, it might be a little late to invest in ETH for large profits. 

Many people are not aware of how crypto assets even work. But they’re willing to invest due to “fear of missing out” (FOMO). Once the people behind this bogus crypto asset feel they have taken enough money, they can transfer all the crypto investments into their bank accounts and quickly shut down the fraudulent project, leaving the “investors” without their assets.

, a fake crypto asset that saw $6 million stolen from investors who believed it was real.

Another common crypto scam is bogus crypto asset service providers. These fake

 build a reputation among crypto communities by claiming they’re legit, as well as offering seemingly lucrative staking yields and airdrops than legitimate 

. Shortly after investors buy in, they can never get a hold of these coins. Instead, these fake crypto asset service providers often went missing and remained uncontactable.

For example, BitKRX convinced many people that they were one of the biggest crypto asset service providers of the decade, resulting in the large-scale theft of people’s money. The scammer of the 

was then reprimanded by the local government authorities in South Korea in 2017.

Pump-and-Dump schemes originate in the stock market. The main idea behind a pump-and-dump is that an asset is predicted to have a future increase in its price so that people will invest at a lower price. This automatically drives the product's price to increase as demand starts exceeding supply. Once the individual/group behind the pump-and-dump scheme makes enough money, they “dump” the project. 

Inspired by significant crypto assets such as 

 (BTC), investors attempt to hype up and promote fake plans about a crypto assets to more buy-in from the public. As a result, people begin investing in that crypto asset, believing that its prices will surge based on seemingly strong fundamentals. However, once they realize the “innovative” plans were a hoax, the crypto asset is dumped, resulting in substantial financial losses for everyone involved — except the con artist behind the scheme.

Visual representation of pump-and-dump. Source: 

Crypto

Stablecoins: Unpacking Their Role & Impact in the Crypto Market

Altcoins

Top 13 Trending Crypto Tokens: Your Guide to the Hottest Picks in 2024

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