Best Altcoins for the Next Bull Run 2024
Discover the top altcoins which are expected to grow in the next bull run. Our analysis covers promising cryptocurrencies with potential for high returns.
Table of Contents
- Best Altcoins for the Next Bull Run
- What Is a Bull Run in Crypto?
- Top Altcoins For the Next Bull Run 2024
- Final Words
Best Altcoins for the Next Bull Run
Investors are increasingly adopting a long-term perspective, acknowledging the market's tendency to fluctuate in cycles. While it's unclear if the bear market is truly coming to an end, top cryptocurrencies have shown promising signs, with Bitcoin, for instance, soaring 156% since the beginning of the year.
The introduction of spot ETFs and the upcoming Bitcoin halving add to the optimism. All of these factors may be indicative of the next bull run might be just around the corner.
This presents a valuable opportunity for investors to explore alternative coins that could surge in the forthcoming bull run. In this article, we delve into 5 cryptocurrencies that are likely be successful in the next crypto bull market.
What Is a Bull Run in Crypto?
A bull run, in the crypto world, is characterized by heightened enthusiasm in the market and a significant increase in asset prices. Notable examples of crypto bull runs include those in 2013, 2017, and most recently in 2021.
The surge in prices is influenced by various market factors like volatility, demand, and overall market valuation. Eventually, the demand for the digital assets surpasses their supply, indicating that investors are optimistic about their future. The valuation process of a crypto asset is intimately linked to the mindset and behaviors of the investors involved.
The duration of a bull run can vary significantly, lasting anywhere from several months to a few years. It needs to be a sustained period to qualify as a bull run.
A market in the midst of a bull run is termed a “bull market”, which contrasts with a “bear market”. In asset's price to rise are considered “bullish”, while those anticipating a price drop are deemed “bearish”.
Top Altcoins For the Next Bull Run 2024
The project introduces several mechanisms to reward its holders, especially upon the approval of Bitcoin ETFs. One notable feature is its deflationary mechanism, which creates scarcity and a sense of urgency (FOMO) among investors, potentially leading to a dramatic increase in its value.
The token's burn mechanism is twofold. Firstly, 25% of its total supply is earmarked for burning at five pivotal Bitcoin ETF Milestones. Secondly, it imposes a 5% burn tax on transactions, which will decrease by 1% following each milestone.
Additionally, the token offers an attractive staking mechanism, currently with a 97% Annual Percentage Yield (APY). Investors who buy during the presale can immediately begin staking and compounding their investment. However, they should act swiftly as the rewards diminish as more investors stake their tokens.
The presale of the Bitcoin ETF Token is rapidly approaching its $4.9 million hard cap, having already raised $2.7 million in just a month.
The collapse of FTX, to which Solana had close connections, and its controversial founder Sam Bankman-Fried, impacted Solana, resulting in significant losses towards the end of 2022.
Despite a challenging start of the year, where its token value dipped below $10, Solana's token, SOL, made a remarkable comeback in 2023, registering a 420% increase in value and emerging as one of the top-performing cryptocurrencies of the year. In the two past months alone, Solana has recorded the highest gains among the top 20 cryptocurrencies, soaring by approximately 100%.
Additionally, on-chain activity on Solana has seen a significant rise. Its average daily volume has reached around $600, more than double the average for 2023. Furthermore, Total Value Locked (TVL) on Solana has exceeded $900 million , showcasing the platform's growing popularity and utilization.
In 2020, Ripple faced legal challenges when the U.S. Securities and Exchange Commission (SEC) alleged that the company violated the Securities Act, categorizing XRP as an unregistered security. However, in July of this year, the court clarified that XRP is not a security, marking it as only the second cryptocurrency after Bitcoin to attain such regulatory clarity in the United States. Additionally, the judge dismissed the SEC's request for an interlocutory appeal against the ruling and the agency subsequently withdrew its lawsuits against Ripple CEO Brad Garlinghouse and co-founder Chris Larsen.
With this landmark victory and the current bullish trend in the crypto market, the token has begun to exhibit remarkable price movements. In November, XRP's price surged nearing the $0.7 mark, propelled by a 40% increase in its daily trading volume. In overall, the XRP price saw a 62% increase over the year.
This technology has attracted major traditional finance (TradFi) players like SWIFT, DTCC, and the ANZ Banking Group. These institutions have recently collaborated with Chainlink to conduct successful tests of CCIP’s blockchain interoperability, underscoring the technology's growing demand and relevance.
The last two months have seen a surge in the adoption of Chainlink’s services, with nine different companies across four distinct blockchain networks integrating its offerings. This list includes prominent names such as Vodafone Business and Avalanche. This widespread and rapid adoption has catalyzed a significant rise in the value of $LINK, which has soared by nearly 35% over the past month, currently trading around the $15 mark. The price of LINK has increased by nearly 120% over the year.
One notable application of Toncoin within Telegram is the Fragment marketplace, where users can buy and sell unique Telegram usernames. Additionally, the TON Space wallet, integrated within the Telegram app, allows users to easily transact with TON or swap various tokens on the TON Blockchain network.
The integration with Telegram is a key driver of excitement around Toncoin. Beyond this, Toncoin has been achieving notable progress on its own. For instance, in the face of a bearish market in late 2022, the number of Toncoin accounts surged by about 157% over the past year. The TON Blockchain has also seen a significant increase in active wallets, rising from approximately 390,000 in November 2022 to 907,000 by December 2023 – a 132% increase.
In terms of performance, the TON Blockchain has demonstrated remarkable capacity in testing environments, handling up to 104,715 transactions per second. This performance positions it as a strong candidate for the world's fastest blockchain, though real-world performance may vary from test results.
Another positive milestone for Toncoin is its recent approval by the Dubai Financial Services Authority (DFSA). This approval, also extended to XRP, allows financial institutions in the Dubai International Financial Centre to engage in transactions using TON. This development further underscores Toncoin's growing influence and potential in the global blockchain ecosystem.
Investors should practice thorough research and due diligence, diversify their investment portfolios, and ensure they only invest funds they are prepared to risk.
Being aware of regulatory changes, technological progress, and global economic trends is also vital, as these factors can have a profound influence on the crypto market.