In cryptocurrency, where trends change in the blink of an eye, some coins get lost in the shadows. While everyone’s eyes are glued to the giants like Bitcoin, Ethereum, and the latest meme coin craze, a number of lesser-known cryptocurrencies—often referred to as “crypto sleepers”—are quietly building momentum. These are the coins that once dominated headlines but have since fallen out of favor, only to potentially rise again with a vengeance.
Could 2024 be the year when forgotten coins make a surprise comeback? Let’s take a look at some of the most promising sleepers and explore why they might be ready to rise from the ashes.
What Are Crypto Sleepers?
Crypto sleepers are coins that were once popular or highly promising but have since slipped under the radar. They may have lost their initial hype due to a variety of factors like market volatility, shifts in interest, or even development issues. However, these coins often maintain solid fundamentals, innovative technology, or niche use cases, making them prime candidates for a resurgence when market conditions shift.
Why Do Crypto Sleepers Matter?
In a market driven by hype cycles, it’s easy to overlook projects that aren’t constantly making headlines. But some of the best opportunities in crypto come from digging deeper. Crypto sleepers matter because they offer unique opportunities for long-term growth. These are not your overnight moonshots but rather coins that have weathered the storm and are building in the background, waiting for the right moment to strike.
Sleepers to Watch in 2024
1. Zilliqa (ZIL)
Zilliqa was once touted as the blockchain solution to Ethereum’s scalability issues, thanks to its innovative sharding technology. Though it garnered attention in 2018, Zilliqa has since been overshadowed by newer projects. But with Ethereum still grappling with scalability issues, ZIL’s unique infrastructure could become relevant again in 2024. The project’s focus on high-throughput decentralized applications (dApps) makes it a potential contender in the next wave of crypto adoption.
2. Basic Attention Token (BAT)
Basic Attention Token, or BAT, is the native token of the Brave Browser ecosystem. While the concept of earning crypto for your attention gained traction a few years ago, the hype surrounding BAT has since cooled. However, with privacy concerns and ad-blocking gaining momentum, Brave and its native token are positioned for a potential revival. As Web3 continues to grow and users demand more control over their online experience, BAT could find itself back in the spotlight.
3. Nano (XNO)
Nano was once seen as the future of instant, feeless payments. The project gained significant attention in 2018 for its unique block-lattice structure, which enabled fast and zero-cost transactions. However, the lack of widespread adoption pushed Nano to the background. With growing interest in sustainability and energy-efficient blockchain solutions, Nano’s eco-friendly, scalable design might just find its audience again, especially as global trends shift toward more sustainable technologies.
4. 0x (ZRX)
0x is a decentralized exchange protocol that allows for peer-to-peer trading of Ethereum-based assets. While decentralized exchanges (DEXs) like Uniswap and SushiSwap took the limelight, 0x has been quietly building its technology and infrastructure. As DEXs gain even more traction in 2024, 0x could finally get its due as a reliable and efficient solution for decentralized trading. Its low-cost trading and versatile tech stack position it as a sleeper ready to surge as DeFi (decentralized finance) continues to evolve.
5. IOTA (MIOTA)
IOTA was once a frontrunner in the race to create a blockchain tailored for the Internet of Things (IoT). The project aimed to power machine-to-machine transactions with its Tangle network—a unique structure that differs from traditional blockchains. Though its progress has been slow and the coin has fallen from the public’s view, the increasing relevance of IoT in industries like manufacturing and logistics could provide a fresh narrative for IOTA in 2024. If it manages to deliver on its promises, IOTA could stage a surprising comeback.
Why These Sleepers Might Rebound in 2024
1. Market Cycles Favor Forgotten Projects
Crypto operates in cycles. A project that missed the boat during one bull run might be perfectly positioned for the next. As interest shifts from hype-driven projects to those with solid fundamentals, many of these forgotten coins could see renewed interest.
2. Technological Maturity
One of the reasons these projects faded into obscurity is because they were ahead of their time. However, many of them have continued development in the background. As their technology matures and the market becomes more sophisticated, they could find their place in the broader blockchain ecosystem.
3. New Use Cases
Many of these projects offer unique solutions to ongoing problems in the crypto space. As the needs of the market evolve, projects like Nano (with its feeless transactions) or IOTA (focused on IoT) could become increasingly relevant, making them ripe for a comeback.
Potential Risks of Investing in Sleepers
Of course, it’s not all sunshine and rainbows. Investing in crypto sleepers carries significant risks. Many of these projects could remain dormant, unable to regain the momentum they once had. Their development teams might abandon the project, or their technology could become obsolete in the face of newer solutions.
However, for those willing to take calculated risks, the potential upside can be substantial. Crypto sleepers offer a chance to get in on the ground floor before the broader market catches on.
Conclusion
When you think of the volatility of cryptocurrency, it’s easy to chase the latest trends and forget about the projects that laid the groundwork for today’s innovations. But sometimes, those forgotten coins are the ones that come back stronger, propelled by technological advancements and shifting market conditions.
Crypto sleepers might not make headlines every day, but they offer something even more valuable: the potential for long-term growth in a maturing market. Keep an eye on these under-the-radar gems in 2024—you might just find yourself holding the next big breakout star.
