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Top 5 Initial Coin Offerings (ICOs) To Watch For in 2024

15 mins
Fact Checked
by Ish Bautista
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Initial coin offerings, most commonly referred to as ICOs, present an opportunity for savvy investors to gain exposure to potentially profitable projects before the hype sets in. We’ve identified a number of ICOs taking launching before 2024 ends. Here are five projects to have on your radar.

Why invest in ICOs?

The cryptocurrency landscape is licking its wounds and gradually recuperating from the high-profile failures — including Terra Luna, FTX, and Genesis — that characterized the end of 2022 and much of 2023. But this recovery phase is shaping a new path for the industry as the grip of the bear market finally eases. For many, optimism is slowly growing, with experts foreseeing the next surge in crypto — a potential bull run — in 2024 or early 2025.

A pivotal event in this anticipated shift is the bitcoin halving scheduled for April 2024, an event historically known to influence market dynamics significantly. As bitcoin often paves the way for altcoin trends, this period is considered by many to be a critical juncture with the potential to determine the market’s future.

Current low prices in altcoins present what may be one of the final windows to leverage these lower valuations. But what about new tokens on the scene? We’ve compiled a list of some of the most intriguing-looking upcoming ICOs:

An ICO is the process by which you fund the development of open-source software built to use your token.

Eric Wall, software engineer: X (Twitter)
Network
Ethereum
Max supply
1,000,000,000
ICO dates
Presale ends Dec. 29, 2023
Ticker
SHIMU
Network
N/A
Max supply
5,000,000
ICO dates
Presale ends Q4 2023
Ticker
ASI
Network
Initial supply
200,000,000
ICO dates
ICO ends Nov. 21, 2023
Ticker
XBIT

Launchpad xyz

Network
Ethereum
Max supply
1,000,000,000
ICO dates
N/A
Ticker
LPX
Network
Arbitrum
Max supply
500,000,000
ICO dates
November 16-18
Ticker
PLX

Factors influencing ICO selection

Selecting the top ICOs isn’t the same as selecting tokens that have already launched. You don’t have the charts, the DApps, or even the smart contracts to test and see if the investment will be viable. You must exercise some level of fundamental analysis.

This can be difficult when analyzing various projects. For example, memecoins without any ascertained roadmap or utility might shoot in value initially and generate early holders some serious profits — just consider the success of PEPE in May/June 2023. However, many of these “memecoins” can actually be scams, specifically, pump-and-dump schemes — and it can be difficult to tell.

However, there are a few strategies you can use to separate projects.

Firstly, you should always check and see who is behind the project. Do they have a track record of notable work or relevant experience? Are they visible? If so, in the event of a rug pull, you would likely have legal recourse. You should also look out for ICO whitepapers or proof of concepts. These can often help inform as to whether the project is a serious endeavor or not.

Audits (code and financial audits if necessary) will give you some assurance about a project, following the proof of concept, of course. You always want to ensure that both the project works and the token contracts for the ICO are safe.

Last but certainly not least, look at the token allocation. You should always check to see if an ICO project has institutional investors, how much of the token supply they hold, if and how much the team holds, and whether there is a lockup period. In the event someone attempts to exit their position, they could possibly dump the token price.

An ICO is the process by which you fund the development of open-source software built to use your token.

Eric Wall, software engineer

Top ICOs offer opportunities to beat the hype

With crypto, if you’re early, then you’re on time. Looking for top ICOs gives you an opportunity to ape into potentially profitable projects before future hype ensues. Participating in an ICO towards the end of 2024 could potentially allow you to get in early before the supply is limited, before the bull market, and before the price rises.

Many people are waiting on the sidelines for the return of a bull market. Yet, often, people will not buy into projects or tokens until they are already appreciating in value. Getting in early is the key. However, caution is crucial, particularly when investing in early-stage projects. Always DYOR, and never invest more than you can comfortably afford to lose.

Frequently asked questions

How to pick which is the best ICO to participate in?

What are the best upcoming ICOs?

What is the best site for ICO crypto?

How can I participate in an ICO?

What is the minimum investment for ICOs?

Are ICO investments regulated?

How can I verify the legitimacy of an ICO project?

What happens if an ICO project fails to meet its goals?

What are the common risks associated with ICO investments?

Can I participate in multiple ICOs simultaneously?

How long does an ICO fundraising period typically last?

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Ryan Glenn
Ryan Glenn is a journalist, writer, and author. Ryan is motivated to educate as many people as possible on the benefits of web3 and cryptocurrency. He has authored “The Best Book for Learning Cryptocurrency,” and runs an educational platform, web3school.us, dedicated to demystifying the crypto space. Ryan built the platform to transition tech-savvy and non-tech individuals into crypto and give everyone a baseline understanding of the different fields in the cryptosphere. Ryan is also an...
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