Hidden potential: 2024 Dark Horse cryptocurrencies to watch

TRON (TRX)

Tron entered the crypto market in 2017. Justin Sun, its founder, also created the famous file-sharing program BitTorrent. Tron initially focused its marketing efforts in Asia. Its main office remains in Singapore, although the company also has a branch in San Francisco.

TRX originated as an ERC-20 token. It moved to its native blockchain in 2018. Tron network was under fire for taking ideas from other crypto projects, such as Ethereum or Cardano. However, few can neglect that it takes the best features and makes them work well together. According to Tron creators, the platform’s focus is on gaming and entertainment apps and industries.

Tron network guarantees decentralization and P2P transactions without mediators. It utilizes smart contracts and uses TVM ‚ a Tron Virtual Machine. It supports creating dApps, and users can also create tokens on this network. TRC-20 technical standard is compatible with Ethereum’s ERC-20 standard. Tron uses a consensus protocol named a delegated proof-of-stake. It allows users who own TRX to vote for delegates who validate transactions and have governance voting rights.

In 2021, the TRON network became the #1 issuer of USDT stablecoin. It took over the top spot from Ethereum, and the estimation is that more than 50% of USDT is now on the Tron network. 

TRX has a current value set at $0.1. Its price increased by over 80% during 2023, which is impressive. The project’s market cap is $9.4 billion, putting it in the top ten crypto assets. You can currently find about 88.7 billion TRX tokens in circulation, with no maximum supply.

Aave (AAVE)

Aave’s history also goes back to 2017. It took a while for this project to receive the attention it deserves. Today, it’s in the 41st spot in the crypto rankings. Aave’s market cap is around $1.41 billion. There are currently 14.6 million AVE tokens in circulation, with the maximum set at 16 million coins.

The simplest description of AAVE would be that it’s a DeFi ecosystem. It’s actually among the biggest decentralized finance ecosystems, considering that it keeps over $6 billion in locked funds. DeFi systems are the future of financing, especially since traditional banking is having problems — increasing inflation, falling banking rates, and political turmoil. 

Aave is an open-source protocol with liquidity pools serving users to borrow or lend various crypto coins. Those actions create a decentralized money market that doesn’t require middlemen. Liquidity pools secure automatic loans. If you add funds to a pool, you qualify to earn interest. Borrowers pay that interest.

AAVE token powers the network as the native token. Users have the option of staking AAVE coins to generate rewards or acquire voting rights. 

One AAVE token is now worth $98. The statistics indicate its value increased by over 75% during 2023. If you look at price predictions, AAVE will likely grow during the coming years. Many analysts believe that it could reach $150 or more in 2025. As DeFi systems are likely to attract more users in the future, it’s clear that Aave can be a pretty sure bet. Considering the potential growth, adding this token to your Paybis portfolio could be a wise move.

Chainlink (LINK)

Interoperability is a huge problem for many blockchains. Because chains are usually independent, it is hard for those using different platforms to interact. If a blockchain is to transmit or receive data from the outer world, it’s necessary that the source is trustworthy.

And that’s where the Chainlink project comes into play. It features a blockchain oracle network that supports the communication of smart contracts on a blockchain network with out-of-chain or real-world services and data. Chainlink uses hybrid smart contracts, which enable interaction with data outside the chain while ensuring the blockchain’s reliability and security are intact.

Chainlink uses oracles —separate entities capable of collecting data from different sources. Inputs and outputs are tamper-proof. If you use Chainlink, you can access the majority of relevant blockchain platforms, such as Ethereum. Using LINK as a payment option supports real-time settlements between providers and customers while eliminating the counterparty risk.

The project has a market cap placed at $8.17 billion, which is enough to be in the 12th spot in the crypto rankings. The maximum supply of LINK coins is one billion, and approximately 55.7% is now in circulation. 

One LINK is currently worth $14.67. If you check the recent price history, the coin gained over 100% of its value during 2023. A look at future predictions is another reason to be optimistic. Depending on the platform, LINK’s estimated value for 2025 is anywhere from $20 to $50 or more.

Conclusion

The crypto industry is full of exciting projects that could revolutionize the market in the coming years. Tron uses an approach of collecting top features from other chains to enable the best possible blockchain for its users. Aave is the largest and most promising DeFi ecosystem for borrowers and lenders. Chainlink aims to connect blockchains with real-world data while keeping maximum security and reliability.

The common thing for these dark horses is that they present revolutionary ideas for the market. That’s why they are worth giving a shot, but don’t forget to monitor other projects and look for other hidden gems in the crypto industry!