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Best Altcoins for the Next Bull Run 2024
12/11/2023

Best Altcoins for the Next Bull Run 2024

12/11/2023
4,5

Discover the top altcoins which are expected to grow in the next bull run. Our analysis covers promising cryptocurrencies with potential for high returns.

Best Altcoins for the Next Bull Run

As we approach 2024, there is growing anticipation in the cryptocurrency market for the potential of an upcoming bull run. Following the downturn known as the “crypto winter” in 2022, the market experienced a significant shift, with its total value dropping to approximately $1.6 trillion in November 2023 from $2.2 trillion at the end of 2021. Despite this decline, many investors see this as an ideal time to invest in digital assets, anticipating a rebound.

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?

First, let's clarify the concept of a “bull run” in the context of cryptocurrency. Investors in the crypto market are keenly interested in predicting the timing of the next bull run for several reasons, primarily to capitalize on the potential benefits such a period brings. 

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

Bitcoin ETF

Our top recommendation for a cryptocurrency to invest in before the next bull run is the Bitcoin ETF Token.  A key milestone on its roadmap is the approval of Bitcoin ETFs by the SEC, an event anticipated by many in the near future. Should this approval be granted, the ERC20 token's value could increase significantly, potentially by tenfold or more. This is because the token has been specifically designed with this scenario in mind, positioning itself strategically to capitalize on such an approval.

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.

Solana (SOL)

Solana is a high-performance blockchain platform known for its speed and efficiency in processing transactions. It was designed to support dApps and crypto-currencies, and it is often highlighted for its scalability and low transaction costs.

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.

Ripple (XRP)

XRP ranking as the world's fifth-largest cryptocurrency, boasts a market capitalization exceeding $35 billion. It serves as the native digital currency for Ripple, a blockchain-based payment protocol known for its rapid and cost-effective transaction capabilities. Ripple is specifically engineered to streamline international money transfers and has forged partnerships with numerous financial institutions leveraging its technology.

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. 

Chainlink (LINK)

Chainlink is a leading oracle service in the Web3 sector. Its native cryptocurrency, LINK, has achieved a noteworthy market capitalization of over $8 billion, ranking it as the 13th largest cryptocurrency in the market. One of its key offerings, the Cross-Chain Interoperability Protocol (CCIP), enables seamless asset transfers across different blockchains, a feature highly sought after in the finance sector.

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. 

Toncoin (TON)

Toncoin is currently one of the most intriguing blockchain projects to watch, primarily due to its potential to captivate an exceptionally large user base. This potential stems from the ongoing integration of Toncoin and the TON Blockchain into Telegram, a privacy-centric messaging app with 800 million monthly active users.

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.

Final Words 

Entering the market before a bull run is often considered a wise investment strategy. Purchasing assets during a market slump allows investors to capitalize on the subsequent rise in prices typically seen during a bull run. Although the future of the market is never certain, current forecasts hint at a potential crypto bull market in 2024, with a particular focus on altcoins as major players. These tokens offer potential, but their future outcomes are not guaranteed. It's important for investors to stay alert, continually update their knowledge of market trends, and be ready to adapt to new information and developments.
 

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. 

FAQ

Will there be a crypto bull run in 2024?

It's difficult to predict market movements with certainty. While some analysts may forecast a bull run based on historical patterns or emerging trends, the cryptocurrency market is influenced by a variety of unpredictable factors including technological developments, regulatory changes, and global economic conditions.

What are the signs of a crypto bull run?

Signs of a crypto bull run typically include a sustained increase in cryptocurrency prices, high trading volumes, positive investor sentiment, increased media attention, and often, a surge in mainstream adoption.

How long is a bull run cycle in crypto?

Historically, these cycles have ranged from a few months to over a year. The duration depends on various factors, such as market sentiment, technological innovations, regulatory developments, and broader economic conditions.

Why invest in altcoins during a bull run?

Investing in altcoins during a bull run can potentially yield high returns as these markets often experience significant price increases.
 

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The materials found on the Cryptonica website shall not be taken as individual investment recommendations. The financial instruments or operations mentioned therein may not align with your investment profile or objectives. We assume no responsibility for any missing facts or inaccurate information in the texts. Cryptocurrencies are financial assets with high risk and volatility. Therefore, it is crucial that you conduct your own research on financial instruments and make independent decisions. Before engaging in any actions related to cryptocurrency, you shall study, understand, and comply with the laws applicable in your region and country.

Brad Garlinghouse Chris Larsen Sam Bankman-Fried


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