Initial Coin Offerings (ICO) are fundraising campaigns to achieve initial investments a company needs to build its blockchain app or services. ICOs work by allowing investors to buy cryptocurrency tokens issued by companies.
If the fundraising is successful, the platform can launch its products, or services to the general public, potentially increasing the popularity and value of its cryptocurrency tokens.
In the past, some of the most successful ICOs have helped buyers make more than 1000% return on their initial investments. However, there also have been instances of ICOs going unsuccessful and even coming off as scams.
Normally, the ICOs end when the company hits its preset financial goals. So, if you are looking to grab potentially lucrative cryptocurrencies at low prices and make a profit in the future, you have to act fast.
Especially, if the token has already created a huge buzz before releasing its ICO. This is why it is important to learn about the upcoming ICOs. We are here with the top 10 ICOs in 2024.
Top 10 Upcoming ICOs in 2024
After carefully reviewing over a hundred ICOs coming up, our team has narrowed down the top 10. We have considered several metrics for selecting this list including the credibility of creators, the amount they have managed to raise so far, the investors in the project, and more.
So, while keeping in mind that the cryptocurrency market is volatile, let’s see some of the upcoming ICOs that can potentially give you the best return on investment.
1. EigenLayer
Expected Start Date: Sep 10,2024
Pre-Valuation: $9.5 B
Total Raised: $164.4 M
EiginLayer is a software protocol that introduced the novel concept of restaking. The protocol built on the Ethereum blockchain allows Ethereum stakers to reuse their staked ETH or Liquid Staking Tokens (LST) across different decentralized platforms in the EiginLayer ecosystem. Following the launch of the platform, it has gained a lot of attention for its novelty and potential growth.
They are yet to announce the native token of the platform and it has already faced some controversies. Despite controversies, EiginLayer has managed to raise more than $164 million in funding from investors such as Blockchain Capital, Polychain, Coinbase Ventures, and others.
2. Sharpe AI
Expected Start Date: Aug, 27, 2024
Pre-Valuation: $2 M
Total Raised: $1.7 M
Sharpe AI is a sophisticated DeFi platform that offers advanced AI-powered features. The demand for a self-governing network that uses AI in the volatile cryptocurrency market is comparatively high.
The project has garnered much attention from cryptocurrency enthusiasts and even some of the big crypto whales in the market.
The Sharpe project has initiated its airdrop campaign to attract more engagement to the platform. As more people get used to the platform, the demand for the native token, which has not launched yet can also increase potentially driving up its value.
It is also remarkable to note that the platform has already managed to raise a total of $1.7 million through various funding rounds so far, getting it to a pre-valuation of $2 million. This is why we have included Sharpe AI in this list of upcoming ICOs to look out for in 2024.
3. Pika Protocol
Expected Start Date: Aug, 30, 2024
Pre-Valuation: $6.84 M
Total Raised: $42.34 M
Pika Protocol is a revolutionary perpetual exchange platform built on Ethereum Layer 2. This novel protocol allows decentralized perpetual swaps – the contracts that let you bet on the price of an asset without it ever expiring.
Usually, traditional contracts would have a set end date when they become obsolete, which is not the case in Pika Protocol.
Since Pika Protocol allows users to trade directly from the user’s digital wallet without needing to deposit it into the platform first, it is much more efficient, and user-friendly than many of the exchanges that exist today.
While we were not able to retrieve information about any major investors of the platform, we got to know that they have raised more than $6.5 million.
So, when the ICO of the Pika Protocol becomes available, there is no doubt that the majority of people invested in the world of cryptocurrency will try to get their fair share.
4. Chainalysis
Expected Start Date: Not announced
Pre-Valuation: $8.6 B
Total Raised: $545 M
Chainalysis is a platform that offers blockchain data analysis for businesses and governments.
Chainalysis has advanced tools that can collect and analyze blockchain transactions. This service can help companies, organizations, and law enforcement agencies understand where and why cryptocurrency transactions happen.
According to the information available from the creators, the platform serves over 1000 clients including government agencies and financial institutions. Chainalysis also helps crypto exchanges to mitigate risks associated with cryptocurrency transactions.
Chainalysis has raised significant investment through multiple rounds totaling over $536 million. The company is currently valued at $8.6 billion. However, they have not announced their token yet.
The Chainalysis ICO is a speculation at this point. But you should look out for an official announcement to be able to grab a deal to secure the possibility of making a high profit.
5. Linea
Expected Start Date: Q4, 2024
Pre-Valuation: $7 B
Total Raised: NA
Linea is a Layer 2 scaling solution for Ethereum that utilizes zero-knowledge technology that can help improve transaction efficiency and security. It operates on top of the Ethereum blockchain as a secondary network to help improve the transaction speed of the network.
Zero-knowledge proof is an advanced cryptocurrency technology that is creating a big buzz in the crypto community.
The project is currently one of the major topics of discussion in many crypto communities regarding its potential ICO. The company has not announced an official Initial Coin Offering (ICO) as of now.
Still, there are ongoing discussions and speculations about potential token distribution including an airdrop to reward early contributors.
The company has been involved in a lot of fundraising activities, with a pre-valuation of $7 billion. While the platform may potentially launch its token shortly, its utilities, tokenomics, and distribution mechanism have not been announced yet.
The project’s strong backing of notable players from the Ethereum ecosystem makes it worth the anticipation.
6. CratD2C
Expected Start Date: Not Announced
Pre-Valuation: $7 B
Total Raised: $340 K
CratD2C is a decentralized blockchain platform. The project aims to provide efficient, secure, and transparent digital infrastructure for many industries.
It operates on the blockchain architecture to ensure top-tier security, better scalability, and minimal transaction fees.
The platform supports industries such as real estate, manufacturing and logistics, intellectual properties, content creation, energy, and more by addressing the challenges faced by them.
Since these industries are highly lucrative, CratD2C became highly successful in the fundraising rounds.
Pre-sale of the platform’s token, CRATD2C is already completed and it is speculated that the company will be launching their ICO on September 30, 2024, to attract early investors.
7. Karak
Expected Start Date: Q3, 2024
Pre-Valuation: $1 B
Total Raised: $48 M
Karak is a multi-chain platform that allows users to restake their digital assets that are used in other networks or applications.
In addition to offering enhancements to the blockchain ecosystem, Karak also helps users generate additional rewards.
Karak has a user-friendly design, and it simplifies the process for developers by providing tools and frameworks that make it easier to build and deploy applications that can utilize staking. The project has already raised about $48 million through multiple fundraising rounds.
The specific details about the Karak token have not been officially announced by the platform yet. However, people speculate that the token can play a crucial role in governance and incentivizing validators within the ecosystem.
If you are an early investor of Karak, there is a high possibility for you to make a significant profit out of it.
8. Pepe Unchained
Expected Start Date: Q3, 2024
Pre-Valuation: $69.88 M
Total Raised: $6.17 M
Pepe Unchained is another meme coin in the same playing field as popular tokens such as DOGE and Shiba Inu. PEPE is the token of Pepe Unchained. It operates on Layer 2 blockchain which is a network that is similar to the Ethernet network.
Even though there is huge competition in the meme coin market, PEPE aims to stand out by being an efficient meme coin. The coin is faster and has fewer transaction fees than other tokens on the traditional Ethereum network.
PEPE has raised about $6 million in fundraising events so far. This is a strong indicator that the coin has managed to create a big impact on the cryptocurrency community. Experts have high hopes for PEPE, making the PEPE ICO an opportunity that you might not want to miss out on.
9. SuperDapp
Expected Start Date: Q3, 2024
Pre-Valuation: Not available
Total Raised: $30 M
SuperDapp is an innovative platform that enhances digital interactions by combining artificial intelligence with Web3 technologies. The platform is aimed to facilitate features such as chatting, social networking, and trading all in one place.
The platform is working behind its token called SURP. The token will be utilized in streamlining many of the features of the platform.
The platform has not announced its initial coin offerings yet. However, the followers speculate that it could be anytime soon.
While we do not have solid evidence regarding the potential of the platform, the community-centric approach and revolutionary concept may create a wave in the cryptocurrency community.
If you are interested in being an early contributor to the SuperDapp platform, stay connected to the community and learn about new updates.
10. Pichi Finance
Pichi Finance is a decentralized finance platform that introduced a unique system for trading points. The platform allows users to trade their favorite protocols before the Token Generation Event (TGE).
The platform provides a liquidity market for users to trade their earned points, enhancing the overall user experience in the DeFi space.
The platform raised 2.5 million US dollars through DAO Maker Launchpad. The TGE and Distribution of the coin is expected to be held in the third financial quarter of 2024. There is a lot of attention on Pichi Finance now, making it into the top 10 ICOs to look forward to in 2024.
How to Distinguish Legitimate Cryptocurrency ICOs and Scams
The idea of making astronomical amounts of ROI is tempting. However, any investor should know that while ICOs can be highly rewarding, they also come with high risks.
If you are interested in participating in an ICO, you should examine the following things first, to not fall into any potential scams:
1. Learn about the creators
Do your homework and research about the creators of the cryptocurrency. Check if they are credible and accountable personalities.
Also, verify if they have any previous experience in the cryptocurrency market. Additionally, you should also keep tabs on other team members as well.
2. Carefully dissect the documentation and whitepaper
One of the most important things you should do before believing in any internet hype about a cryptocurrency, you carefully read through the entire whitepaper of the token.
It will usually give you everything you need to know including the operation, objective tokenomics, future plans, etc. It will give you a good enough understanding of the future potential of the token.
3. Examine the token sale
If the platform is genuine, it will provide transparent and reliable ways for potential investors to check the progress of the sale. Analyze the progress and make sure that there is enough demand for the token.
4. Be cautious
It could leave you with major FOMO if you miss out on an ICO. But jumping on to investing in an ICO without doing a proper background check, may make you end up in regret. So, always exercise caution and never invest in ICO out of impulse or a gut feeling alone.
Conclusion
ICOs (Initial Coin Offerings) are fundraising events held by blockchain projects to raise the capital they need to develop the services they offer.
The projects reward their early investors by offering their native cryptocurrency at a cheap value.
Potentially as the platform becomes popular, the token’s value increases. This may help the investors make a considerable return on their investment.
Here we have seen some of the best upcoming ICOs to look forward to in 2024. However, you should also do your research about the platform before investing in ICOs.
