Crypto Gems: Top crypto assets to watch & buy in December 2024

The crypto bull market is in full swing with November registering a considerable 37% gain for Bitcoin following a 10% gain in October.

Bitcoin has hit six figures for the first time and is now consolidating around $100,000. The path to $150,000 and above is set in this cycle with analysts predicting a strong first quarter of 2025 for the asset class overall. Bitcoin is now trading in uncharted territory while the overall crypto market cap has broken through to $3.6 trillion.

Given the bullishness, we explore some emerging narratives in crypto and identify potential gems that could yield good returns in the coming months. With many assets rallying well this year, our estimates on returns will be moderated and time-bound to the next six months.


Remember, the crypto market is inherently volatile, and it's crucial to conduct your own research and understand the risks associated with each investment.

Layer 1s – AVAX and SUI (Medium Risk, Good Returns)

Layer 1 forms the backbone of Web3. This month, we identify two altcoins that can have strong returns in the new year.

Avalanche (AVAX) is a Layer-1 blockchain focused on the development of subnets that facilitate gaming. It is backed by Pantera Capital, a16z (Andreessen Horowitz), Coinbase Ventures etc. Avalanche has been successful in onboarding BIG games like Shrapnel, Spellborne, Bloodloop, Off the grid, etc. Avalanche also supports a growing memecoin ecosystem. With a market cap of $21 billion, AVAX has the potential to a 3-5x over the next six months.

Sui (SUI) is often touted as a challenger to Solana. It is a Layer-1 blockchain founded by a group of developers who earlier worked together in Meta. It is based on Rust programming language similar to Solana and it aims to cater to the next billion users in Web3. It is backed by a16z, Binance Labs, Franklin Templeton, and Coinbase Ventures among others. SUI, currently at a $12 billion market cap, can do a 4-5x over six months if things go well.

DEX & Gaming – AERO and SUPER (Considerable Risk, High Returns)

Aerodrome Finance (AERO) is the biggest decentralised exchange (DEX) on the Base chain clocking $0.4 million daily revenue with a TVL of over $1 billion. The BASE chain is run by Coinbase – one of the world's leading exchanges. It is very likely that the Coinbase app which ranks in the top 3 in the US Appstore, will be used to push AERO and coins based in the DEX. AERO has a market cap of $1.5 billion currently which is relatively low considering other top coins. It naturally has the potential for higher returns of 5-7x in six months though with higher risk.

SuperVerse (SUPER) is a strong gaming ecosystem backed by Animoca Brands. SuperVerse’s native blockchain is custom-tailored for gaming with lightning-fast, low-cost transactions. SuperVerse comprises two core verticals: NFT marketplace and video games. The wide array of Web3 tools on this ecosystem is supported and governed by a single protocol and token i.e. SUPER. SUPER, with a market cap of $1 billion, can potentially do a 4-5x over six months.

Memecoins of the month – CHILLGUY, GOAT, POPCAT (High Risk, High Returns)

Memecoins continue to be in trend and are the first ecosystem to bounce back after a dip in this cycle. Though the risks are high, there is considerable merit to allocate a minor portion of one’s portfolio in them. We picked three such coins this month.

Just a chill guy (CHILLGUY) is a highly popularised meme with billions of views on TikTok which eventually got a token launched on Solana chain. This is the first meme that onboarded retail in millions. It is likely that CHILLGUY will continue to onboard more. With a current market cap of $400 million, CHILLGUY can do 6-8x from current levels if the trend continues.

Popcat (POPCAT) is among the strongest memes right now with greater distribution among its holders reducing the risk of heavy selling. POPCAT is very popular in Asia, especially in Hong Kong, and has a strong cultural reference. Hong Kong is bullish on crypto and will likely approve mainstream adoption for retail. One of the top Solana memes likely to perform well in 2025. It has a current market cap of $1.5 billion.

GOAT is the first memecoin adopted by an AI agent. It is an semi-autonomous agent which grabbed attention after Marc Andressen gave $50,000 as a donation to the agent. GOAT has soared to a $700 million market cap within days. This token marked the start of the AI agent meta, grabbing major attention across Solana and now on BASE too.

The OG – BTC, ETH and SOL (Lowest Risk, Decent Returns)

It is prudent to pivot a majority of your crypto portfolio to the safest assets – Bitcoin (BTC) primarily, followed by Ethereum (ETH), and Solana (SOL). They are proven to build adoption by new investors in the space. Bitcoin’s returns will be less significant (2-4x) hereon but it drives the narrative and volume in crypto.

(The author is attributed to Vikram Subburaj, CEO, Giottus Crypto Platform)

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)