Top 5 Altcoins to Watch This Year
With 2024 far spent, several crypto enthusiasts are wondering whether they can still get into the market and reap dividends from altcoins. If you fall under this group, we’ve got good news for you; you can! The volatility in the crypto market means that you can hit it big or lose it all in a single night. That may sound a little drastic, but let’s aim at positive outcomes!
We’ve researched the market for you and are ready to present five top altcoins you can put on your radar. Similar to placing bets via a GGbet application, it’ll only take you a couple of minutes to make your investment when you are ready. Let’s quickly get into it; no time to waste.
Top Five Cryptocurrencies for Your Profitable Investment in 2024
Solana (SOL)
We’ll liken Solana to the life of the party. This blockchain and, by extension, its native token, SOL, seem to be in everyone’s altcoins business. It is one of the biggest competitors now, with most of the popular meme coins being hosted on its chain. As a SOL supporter, you’ll find yourself getting in bed with top meme coins like Book of Memes (BOME), Bonk (BONK), Dogwifhat (WIF), and Myro (MYRO).
Solana is also popular for its high transaction speeds, low costs, and growing ecosystem of dApps (decentralized applications). With a market capitalization of $75 billion, it is currently the 5th token on the crypto list. It is also the 7th by trading volume, boasting over $2.5 billion. Since the assassination attempt on Donald Trump, it has soared 14%, selling at $163 apiece.
Toncoin (TON)
The altcoins created by Telegram has proven to be a prominent player in the crypto field. It is currently the 8th token by market cap, boasting over $18 billion. TON hit its all-time high of $8.24 last month but has fallen to $7.27 generally due to market correction. Toncoin has jumped over 430% in the past year, showing signs of a promising investment. Several events have pushed its recent adoption and growth. They include its introduction to Binance, its recent airdrop, and the launch of Telegram-based GameFi projects like Notcoin (NOT) and TapSwap.
Tron (TRX)
At the 11th position on the decentralized finance (DeFi) list, we have Tron, with a market cap of $11.72 billion. This token is prominent in the entertainment sector, with a significant use case for content creators. It boasts a similar transactional model to Bitcoin (BTC), low fees, and serves as an Ethereum (ETH) alternative because it supports the creation of dApps on its blockchain. TRX is trading at $0.1348, a lower entry point for beginners, and with a 68% growth in the past year, it is a noteworthy investment option.
Polkadot (DOT)
Interoperability is where Polkadot shines, putting it at the forefront of the blockchain future. With a market cap of $9.3 billion, it is the 14th token, boasting a trading volume of $203 million. DOT’s growth in the past month sits at 5%, largely due to recent announcements of major partnerships. The multichain is trading at $6.48, and with NFTs and DeFi booming, it has the potential to pick up this year.
Stellar (XLM)
We are rounding up our picks with Stellar, the 29th token with a market cap of $3.2 billion. Valued at $0.1097, XLM also offers a low entry rate and a high growth potential. It aims to revolutionize cross-border payments, focusing on speed, security, affordability, and efficiency. The P2P network has soared 27% in the past week, and with the introduction of Soroban, a developer-focused smart contract platform, onto its ecosystem, Stellar is set to take off with market optimism.
Picking the Right Token
There is no better time to own cryptocurrencies than now. Before you jump into the frenzy, there are some important things to watch out for. The points below should be your guiding stars when picking the right token:
- Market liquidity and demand;
- Coin history and performance;
- Adoption and community;
- Security and regulatory compliance;
- Collaborations and partnerships.
Get Into the Cryptocurrency Game!
It is important to take your time when scoping out a new altcoins to invest in. The tokens mentioned above give you insight into what is hot right now. However, don’t take our word for it; do your own research! Don’t follow the crowd when making such decisions, and bear in mind that you will not always make the best decision in the beginning.
A good place to start is with these top five altcoins for 2024. So, when will you give them a try?
