As the cryptocurrency market grows, investors and traders are actively looking for opportunities outside of Bitcoin and Ethereum. Alternative cryptocurrencies, also known as “altcoins,” have become a legitimate option for scaling and profiting. Experts predict potential returns of up to 30 times the initial investment for some altcoins by 2023.
Top 10 altcoins expected to see significant growth in 2024 will be reviewed in this article. Our goal is to provide analytical reasons why these altcoins can be profitable investments.
However, it is important to understand that investing in cryptocurrencies carries inherent risks and before making any investment decisions, investors should perform thorough research and consider Carefully consider their risk tolerance.
Table of Contents
What is Altcoin?
Any cryptocurrency other than Bitcoin is called an altcoin. Due to the wide variety of altcoins available, the phrase is often used to refer to several different cryptocurrencies. Ethereum is the most popular altcoin, while other famous altcoins include Solana, Litecoin, and XRP. The market capitalization of altcoins is typically far lower than that of bitcoin, and they provide specialized use cases like DeFi compatibility or quick transactions.
The top 10 Altcoins:
Ethereum (ETH)
Market capitalisation:
$201.45 billion
YTD gains:
+37D
44Price:
$1,655
All-time high:
$4,891.7 (Nov 16, 2021)
All-time low:
$0.4209 (Oct 22, 2015)
The most popular altcoin is Ethereum ($ETH). It had an advantage over rival blockchains since it was the first to support smart contracts, and it has since emerged as the most well-liked development environment. It boasts a sizable dApp ecosystem, a sizable market cap, and a roughly 40% YTD return.
Ethereum became a greener, more scalable network in 2022 when it switched from a proof-of-work consensus process to a proof-of-stake transaction verification system.
Solana (SOL)
Market Cap:
17 billion USD
YTD:
98D
44Price:
$19
All-time high:
$260.06 (November 6, 2021)
All -time low:
$0.5052 (May 11, 2020)
Launched in 2020, the Solana blockchain network enables non-fungible coins (NFTs), smart contracts, and non-fungible applications centralized (dApps). Solana ($SOL) is a layer 1 blockchain created to be faster and more developer-friendly than Ethereum. $SOL was trading above $200 during the 2021 bull market, but a bear market and a series of technical failures sent it down to around $10. One of the most successful large-cap cryptocurrencies so far this year is $SOL.
Xrp ($XRP)
Market Capitalisation: $26 billion
YTD: 50%
Price $0.5
All-time high: $3.40 (January 07,2018)
All-time low: $0.00268621 (May 22, 2014)
Layer 1 cryptocurrency XRP ($XRP) was developed by the founders of Ripple Labs for use in international payment systems. Due to the SEC lawsuit against Ripple Labs regarding the sale of XRP tokens, this is one of the most discussed projects this year. A judge determined that the majority of XRP sales were not securities offerings, sending the altcoin market soaring in July.
The Society for Worldwide Interbank Financial Telecommunications, or SWIFT, is a global payments system that has been challenged by Ripple. The mechanism used by international banks and other financial institutions to transfer money between them is called the SWIFT payment network. Compared to the SWIFT system, Ripple claims that its technology is faster, cheaper, and more transparent. The native coin created for the Ripple network is called XRP.
BNB ($BNB)
Market Cap:
33B
YTD:
-20D
44Price $214
All-Time High:
$690.93 (May 10, 2021)
Low most all time: 4 4 44 0.0398 $ (October 19, 2017)
The largest cryptocurrency exchange, Binance, has a native cryptocurrency called Binance Coin. Due to its numerous applications, Binance Coin (BNB), which has a $37 billion market valuation, has seen substantial growth in popularity. It can primarily be used to pay trading commissions on the Binance exchange, giving customers the benefit of cheaper deals. Interestingly, BNB extends its capability outside of the Binance cryptocurrency exchange and may be used to handle payments in a variety of situations, such as making vacation reservations.
Cardano ($ADA)
Market Capitalisation:
$9 billion
YTD:
-13D
44Price:
$0.25
All-time high:
$3.09 (Sep 02, 2021)
All-time low:
$0.01925275 (March 13, 2020)
Although continuing to rank among the top ten cryptocurrencies by market valuation, Cardano ($ADA) has struggled to gain traction this year. The overall value stored in the blockchain has been rising despite its price volatility, and major technical advancements have made it easier to use. Changelly and Coincodex predict $ADA to gain moderately this month, but to deliver strong returns going forward.
DOGECOIN ($DOGE)
Market Cap:
$8.9 Billion
4
YTD:
4 -13D
444 Price:
0 0.06 $
Historical History:
0.7376 $ (August 2021)
444 All-time low :
$0.00008547 (May 7, 2015)
The most popular meme coin is Dogecoin ($DOGE), which is also one of the most valuable cryptocurrencies most valuable in terms of market capitalization. This year there were some short-term price increases but no long-term increases. Recent news from
Polygon ($MATIC)
Market cap:
$4.8 billion
Year-to-date:
-32D
44Price:
$0.51
All-time high:
$2.92 (December 27, 2021)
44 44 All-time low :
$0.003 (May 9, 2019)
The Ethereum blockchain is known for supporting many applications and smart contracts . However, as these programs have grown in popularity, transaction costs on the Ethereum network have increased. To solve this problem, Polygon has developed as a layer 2 or sidechain scaling solution, providing cheaper and faster transactions.
Litecoin ($LTC)
Market Cap:
4.7 billion USD
YTD:
-6.11D
44Price:
$64.68
All-time high:
$412.96 (May 10, 2019) 2021) 444 4
All-time low:
$1.11 (January 15, 2015)
One of the first alternative currencies, Litecoin, was created to solve some of the perceived problems of Bitcoin, including its long transaction processing times and mining exclusivity. Bitcoin has changed to become more of a “store of value,” while LTC is designed for use in everyday transactions.
Litecoin and Bitcoin differ in several key ways. In addition to processing speed, supply is also a concern. Litecoin's supply is limited to 84 million coins, compared to Bitcoin's 21 million coin limit.
Polkado ($DOT)
Market Cap:
$8.4B
YTD:
-7.18D
44Price:
$4.07
All-Time High:
$55 (November 4, 2021 )
44 44 All-time low:
$2.69 (August 20, 2020)
A multi-chain technology called Polkadot provides interoperability between multiple blockchains. This is a desirable long-term investment, especially as the blockchain industry grows, due to its ability to provide seamless communication and data transfer between multiple networks. Polkadot is well positioned for potential long-term growth thanks to its focus on scalability, security, and interoperability.
Shiba Inu ($SHIB)
Market Cap:
4.6 billion USD
Year-to-date:
-8D
44Price:
0.00000727
All-time high:
0.00008845 (May 8 2021)
4, 444 All-time low:
0.000000008547 $
(May 7, 2015)
Shiba Inu ($SHIB) saw big gains at the start of the year, but lag The recent Shibarium blockchain release has caused a double-digit decline. According to the Shiba Inu team, the problems associated with the Shibarium launch have been overcome, paving the way for potential gains in September. By the end of the month, $SHIB is expected to add 10 chains to Changelly, in when Coincodex predicts 1-5%.
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