Altcoins
10 Best Altcoins of May 2024 – Forbes Advisor
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The definition of an altcoin has evolved since the beginnings of cryptocurrency when only a handful of crypto assets existed. At the time, everything except bitcoin (BTC) was considered an altcoin.
Today, the world of crypto assets is much larger. There are a wide variety of coins and tokens whose use cases extend far beyond a medium of exchange, meaning they are not necessarily competitors to Bitcoin.
Yet, for lack of a better designation, the basic definition of an altcoin is any crypto asset other than bitcoin.
Here’s a look at the top 10 altcoins by market cap, excluding stable coins. We excluded stablecoins because they are designed to maintain a stable price and are generally not considered a speculative investment.
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1. Ethereum (ETH)
- Market capitalization: $389.2 billion
Of the $2.5 trillion that represents the total market capitalization of the 26,000+ crypto assets available today, over $389 billion is held in Ethereumthe largest altcoin on the market.
Unlike bitcoin, characterized as a “decentralized currency,” think of Ethereum as a distributed computing network where users can use the blockchain to run decentralized applications, or dApps, and host smart contracts.
“BTC is a store of value while ETH is a decentralized playing field for builders to determine the future of blockchain technology innovations,” says Walker Holmes, vice president of metaverse platform MetaTope.
Critics of Ethereum point to high fees for making transactions. But with the thousands of apps and other altcoins powered by its blockchain, Ethereum is here to stay.
2. BNB (BNB)
- Market capitalization: $82.5 billion
BNB is a utility token that can be used to pay trading fees and obtain discounted market transactions. Binance exchange. You can even use BNB outside of Binance crypto exchange for payment processing, such as booking travel arrangements.
Critics say BNB is not as decentralized as other altcoins. However, the value of the coin itself has also helped fuel investor interest in the exchange since BNB began to gain popularity in 2021.
3. Solana (SOL)
- Market capitalization: $79.3 billion
Developed to help power decentralized finance and applications as well as smart contracts, Solana operates on a unique hybrid proof-of-stake and proof-of-history mechanism to process transactions quickly and securely.
Solana is one of the fastest blockchains on the market. However, it has also been criticized for being too centralized with very few validating nodes compared to Ethereum, says Whitney Setiawan, research analyst at digital asset exchange Bitrue.
Holmes says Solana is a highly scalable blockchain solution with very low fees, but has experienced outages and downtime.
4. XRP (XRP)
- Market capitalization: $32.0 billion
XRP can be used to facilitate exchanges of different types of currencies with digital technology and payment processing company Ripple Labs. Founded in 2012, Ripple Labs is practically a dinosaur in the fast-paced world of cryptocurrencies. However, while many other coins have come and gone over the past decade, Ripple Labs and its currency, XRP, have maintained their famous status throughout the cryptosphere.
In fact, XRP’s XRP Ledger offered the first-ever decentralized exchange, or DEX, with a protocol enabling custom tokenization. This open source technology is also known to be more environmentally friendly than other competing cryptocurrencies, which may contribute to its overall popularity.
Best Crypto Exchanges 2024
We combed through the top exchange offerings and tons of data to determine the best crypto exchanges.
4. Dogecoin (DOGE)
- Market capitalization: $26.3 billion
Dogecoin is the original piece of moneystarted as a joke in 2013. Nevertheless, thanks to a dedicated community and creative memes, it quickly became a leading cryptocurrency.
Richard Gardner, CEO of financial software provider Modulus Global, points out that DOGE has had big backers but remains riskier than bitcoin.
“Altcoins like DOGE can fluctuate between extremely low and high levels depending on market volatility, as they have yet to prove any real-world use cases,” says Garry Krugljakow, founder of the 0VIX protocol, a decentralized application which allows lending and borrowing of cryptocurrencies.
5. Cardano (ADA)
- Market capitalization: $20.7 billion
Cardano was one of the first to adopt the proof of participation consensus mechanism, which speeds up transaction time by removing the competitive and energy-intensive problem-solving dimension of platforms like Bitcoin.
“Cardano is a thought leader in the industry who has paved the way for proof-of-stake consensus mechanisms,” says Holmes. “ADA is a blockchain solution that promises low fees with higher levels of security than many of its counterparts.”
But Daniel Logvin, CEO of blockchain network provider and consultancy LedgerByte, says the altcoin has promised too much and has yet to deliver.
6. Avalanches (AVAX)
- Market capitalization: $17.7 billion
Developed as a layer one blockchain for dApps and other networks, avalanche has become one of the main global rivals of the altcoin, Ethereum. In particular, the AVAX network seeks to unseat Ethereum as the blockchain of choice for smart contracts. The new blockchain hopes to achieve this by increasing transaction volume without affecting scalability.
Like Ethereum, Avalanche attempts to solve Vitalek Buterin’s famous blockchain trilemma of security, scalability, and decentralization. The blockchain trilemma states that developers must sacrifice at least one of these three components to enable maximum productivity with the other two. Avalanche attempts to solve the trilemma by using three interoperable blockchains as part of its own development.
7. Toncoin (TON)
- Market capitalization: $17.2 billion
Developed in 2018 by Telegram, the encrypted messaging system, Toncoin is a layer 1 blockchain whose name originally stood for “Telegram Open Network,” but has since been changed to simply “The Open Network.”
TON was initially released so that in-app customers could easily settle transactions within the Telegram app. However, it has become a community blockchain whose proof-of-stake network maintains extremely fast processing and validation times.
8. Shiba Inu (SHIB)
- Market capitalization: $15.5 billion
Shiba Inu, an Ethereum-based meme coin, was developed in 2020. SHIB was created by “Ryoshi,” an anonymous developer who claimed that the goal of the coin was to discover if an organization could operate without any central direction. With crypto heavyweights such as Elon Musk and Vitalek Buterin quickly throwing their weight behind it, Shiba Inu appears to be proving that Ryoshi’s hope is possible.
In October 2021, Shiba Inu briefly supplanted Dogecoin as the world’s most valuable meme coin by market capitalization. Additionally, some niche retailers have started accepting the coin as payment following its success with crypto investors. But don’t start looking into paying for your dinner with SHIB just yet. An organized social media effort by the Shiba Inu community to get McDonald’s to accept the coin as payment ultimately failed.
9. Bitcoin Cash (BCH)
- Market capitalization: $12.4 billion
This peer-to-peer electronic payment system aims to become a decentralized and permissionless global payment system. Bitcoin Cash is an alternative to the original payment system Bitcoin, the world’s oldest cryptocurrency.
Created by a hard fork in the Bitcoin blockchain, Bitcoin Cash was launched in 2017, eight years after the original Bitcoin blockchain went live.
10. Polka dot (POINT)
- Market capitalization: $12.2 billion
This altcoin powers the Polkadot ecosystem, where developers can create blockchains for specific purposes as spokes connecting to the main Polkadot blockchain hub, says Max Thake, co-founder of peaq, a blockchain network built on Peas. DOT is the native token of Polkadot.
“(There is) sustained demand for DOT from projects aiming to build on Polkadot,” he says.
This altcoin offers better shared security and is a leader in developer activity and many projects, says James Wo, CEO of blockchain and cryptocurrency investment firm Digital Finance Group. But the project’s progress has been slow and it lacks flagship applications to boost its ecosystem, he says.
*Market capitalizations and prices from coinmarketcap.com, current as of April 2, 2024.
Altcoins
Altcoins with huge potential Bonk and Mpeppe (MPEPE)
![Altcoins with huge potential Bonk and Mpeppe (MPEPE)](https://tokentalk.top/wp-content/uploads/2024/08/Altcoins-with-huge-potential-Bonk-and-Mpeppe-MPEPE.jpg)
The cryptocurrency market is full of potential, and two altcoins that have recently caught the attention of investors are Bonk (BONK) and Mpeppe (MPEPE)Both of these tokens offer unique features and promising growth prospects that set them apart in the crowded altcoin space. In this article, we will explore what makes Bonk (BONK) and Mpeppe (MPEPE) attractive investment opportunities and how they could shape the future of the cryptocurrency market.
Bonk (BONK): The viral sensation
Bonk (BONK) burst onto the scene with a playful and viral take on cryptocurrency. Here’s a closer look at what’s made Bonk (BONK) a sure bet in the altcoin space.
The Viral Marketing Strategy
Bonk (BONK) Bonk has harnessed the power of internet memes and viral marketing to quickly gain popularity. Its branding, which features a humorous and engaging mascot, has resonated with the crypto community and beyond. By harnessing the viral nature of meme culture, Bonk (BONK) has quickly established a strong presence and captured the imagination of a wide audience.
Merging meme culture and blockchain innovation
Mpeppe (MPEPE) is emerging as a new and exciting player in the altcoin market. With its unique blend of features and innovative approach, Mpeppe (MPEPE) is attracting the attention of investors and cryptocurrency enthusiasts.
Mpeppe (MPEPE) combines the fun and relatable aspects of meme culture with advanced blockchain technology. Inspired by football and blockchain innovation, Mpeppe (MPEPE) offers a distinctive brand identity that appeals to a wide audience. This fusion of entertainment and technology sets Mpeppe (MPEPE) apart from other altcoins and offers an attractive investment opportunity.
Community impact
The strength of each cryptocurrency’s community will play a vital role in its future trajectory. Bonk (BONK) and Mpeppe (MPEPE) Cryptocurrencies build strong, engaged communities, but how they foster and grow those communities will determine their long-term success. Active, supportive communities can generate lasting interest and value, making them essential to the future of every cryptocurrency.
Conclusion: Invest in Bonk and Mpeppe
Bonk (BONK) and Mpeppe (MPEPE) represent exciting opportunities in the altcoin market. While Bonk (BONK) has established itself through its viral marketing and strong community support, Mpeppe (MPEPE) offers a unique blend of meme culture and advanced blockchain features. Both coins have the potential to make a significant impact in the cryptocurrency space.
For investors looking to explore high-potential altcoins, keeping an eye on Bonk (BONK) and Mpeppe (MPEPE) offers interesting opportunities. As the market evolves, these tokens could play a significant role in the future of cryptocurrencies, making them attractive options for those looking for growth and innovation in the altcoin space.
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Altcoins
Top 6 Altcoins Expected to EXPLODE Before 2025: Buy Now!
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As we approach 2025, the cryptocurrency market is poised for a major shift. According to Austin, an analyst at Altcoin Daily, potential policy changes could trigger a major surge in altcoins. A potential change in the Federal Reserve’s policy rate in September could lead to substantial growth in the cryptocurrency market, benefiting Ethereum, Solana, and several promising new altcoins.
Here’s a look at some altcoins priced between $1 and $2 that could offer good returns during the current market downturn. Dive right in.
Top 6 Altcoins to Watch
Aethir: The Decentralized GPU Marketplace
Aethir is becoming a key player in decentralized cloud infrastructure for gaming and AI. With over $36 million in annual revenue, Aethir is meeting the growing demand for GPU computing from large tech companies like Google and Microsoft. By utilizing underutilized GPUs, Aethir is making a significant impact in the tech world. Current Price: $0.07176.
Ondo: The Best Bet in the RWA Sector
Ondo is transforming the way financial assets are tokenized with its real asset protocols. The ONDO token, used for Ondo DAO and Flux Finance, offers a 5.3% annual dividend in USDY. Despite a recent 35% price drop, ONDO’s price action suggests a potential breakout. With less selling pressure and an increase in off-exchange holdings, the outlook appears positive. Current price: $0.9251.
Lukso: Blockchain for Creators and Social Networks
Lukso is creating a unique blockchain focused on connecting creators, brands, and users. As an alternative to Ethereum, Lukso offers universal profiles and gasless transactions, making blockchain technology more accessible. With a strong vision and strong leadership, Lukso is poised for wider adoption. Current Price: $1.71.
AIT Protocol: Decentralized AI Data Annotation
The AIT protocol addresses the need for decentralization of work in AI data annotation. It connects human trainers with AI model owners through a decentralized marketplace, thereby improving AI models. Its growing adoption in Asia and strategic investments suggest that it could be a major disruptor in the AI space. Current price: $0.1169.
Foxy (Linea): A meme piece with level 2 potential
Foxy, a cryptocurrency associated with Linea’s Ethereum layer 2 scaling, has received support from ConsenSys. It stands out in Ethereum layer 2 due to its MetaMask integration and fast transactions. With Linea’s growing adoption and low transaction costs, Foxy is well-positioned for growth. Current price: $0.01116.
Off-grid: Emerging Altcoin in Video Gaming
Finally, Off The Grid, developed by Godzilla, is generating excitement in the crypto gaming sector. Although it has not yet launched, it has received positive feedback from industry experts, suggesting strong potential. Other infrastructure projects like Immutable and games such as Xers and Star Heroes are also worth considering for those interested in crypto gaming.
Who’s excited about the potential altcoin rally?
Altcoins
Bitcoin Dominance Hits 3-Year High: Is Altcoin Season Coming?
![Iggy Azalea’s Meme Coin – MOTHER Soars 30% After New Utility Announcement](https://tokentalk.top/wp-content/uploads/2024/06/1718040608_This-Is-Why-Iggy-Azalea-Meme-Coin-–-MOTHER-Is.png)
As Bitcoin dominance hits a three-year high of 56%, analysts are predicting the potential start of an altcoin season. Although Bitcoin’s current valuation has fallen below $63,600, the high dominance level suggests a significant shift in the market.
Experts point out that Bitcoin dominance is a key factor in predicting altcoin trends. If Bitcoin holds its price while its dominance declines, it could signal a flow of investment into altcoins. This triggers what many call an “altcoin season.”
Conversely, if Bitcoin price and dominance fall simultaneously, it usually indicates a broader market correction rather than an altcoin boom.
What Factors Suggest an Imminent Altcoin Season?
Markus Thielen of 10X Research noted that Bitcoin Price Tends to Stabilize in August. Therefore, a stable Bitcoin price, coupled with declining dominance, may create the ideal conditions for altcoins to thrive.
Learn more: Bitcoin Dominance Chart: What Is It and Why Does It Matter?
Bitcoin Domination. Source: TradingView
In addition, Ki Young Ju, founder of the chain analysis CryptoQuant platform has highlighted increasing activities by crypto whales that appear to be preparing for an altcoin rally.
“Limit buy order volume for altcoins, excluding Bitcoin and Ethereum, is increasing, indicating that strong buy walls are being put in place” said.
Ju explained that limit orders, which are preferred by institutions for large trades to minimize price impact, create “quote volume.” His analysis, which includes a graph of the 1-year normalized cumulative buy/sell volume difference, indicates that altcoins like Solana (SOL)Cosmos (ATOM) and Polygon (MATIC) experience significant accumulation activities.
“The indicator is calculated by taking the cumulative sum of the difference between the buy and sell quote volumes, using a one-year rolling window. If there is an upward trend, it means the buy volume of the quotes is increasing, indicating stronger buy walls,” Ju explained.
Normalized cumulative difference over 1 year between purchase and sale volumes. Source: CryptoQuant
This bullish sentiment is reflected in the trends following recent developments in crypto financial products. Crypto Vikings, a renowned analyst, suggests that current market conditions are conducive to altcoin season.
“Many alts are down 60-80% in the last couple of months, and many of them have already bottomed and are in a good buy zone. Bitcoin Domination is also facing major resistance relative to where the massive altcoin season began each cycle,” Crypto Vikings declared.
Sentiment is increasingly optimistic, as many believe that the disillusionment that follows periods of prolonged economic downturn opens the way to profitable investments.
Another trader, Mags, noted that altcoins are only up 58% after breaking a 525-day accumulation. Therefore, he predicts a possible continuation of the altcoin rally after a reaccumulation consolidation.
“Permanent bears will tell you that altcoins are done and in a distribution phase. But if you look at the chart, altcoins are only up 58% since they broke out after 525 days of accumulation. Do you really think a breakout after 525 days of consolidation will end after only a 58% move?” wrote on X (Twitter).
Learn more: 11 Cryptos to Add to Your Portfolio Before Altcoin Season
On the other hand, Brian Quinlivan, senior analyst at Santiment, told BeInCrypto that there is a lack of enthusiasm for the altcoin season due to the recent price drops.
“As far as mentions of altcoin season go, we’re not really seeing any significant enthusiasm from traders about it. Traders have at least been a little bit more vocal since we started seeing prices drop over the last three days,” Quinlivan told BeInCrypto.
Disclaimer
In accordance with the Trust Project This price analysis article is provided for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our Terms and conditions, Privacy PolicyAnd Disclaimer have been updated.
Altcoins
On-chain data confirms whales are preparing for altcoin surge with increased buy orders
![ChatGPT Suggests Top 5 Altcoins Under $0.01 for $1000 Investment](https://tokentalk.top/wp-content/uploads/2024/05/ChatGPT-Suggests-Top-5-Altcoins-Under-001-for-1000-Investment.png)
Ki Young Ju, CEO of analytics platform CryptoQuant, believes whales are preparing for an upcoming surge in altcoins.
In a recent revelation about X, Ju underlines that the volume of limit buy orders for altcoins, excluding Bitcoin and Ethereum, is increasing. This pattern suggests the formation of substantial buy walls, highlighting significant buying pressure from large-scale investors.
Ju’s chart identifies two main phases in limit order volume for altcoins: the limit sell phase and the limit buy phase. The limit sell phase saw a notable increase in cumulative sell orders in 2022, demonstrating strong selling pressure from whales and other market participants. This phase coincided with a period of falling altcoin prices due to unfavorable market conditions.
Then, the limit buying phase began, marked by a significant increase in cumulative buy orders. This indicates a period of strategic accumulation where whales establish substantial buy walls.
According to Ju, the increase in buying volume suggests confidence in the future conditions of the altcoin market. This buying pressure creates strong support levels, indicating that whales are preparing for a positive change in the market.
Buying pressure on specific altcoins
Ju also provided a heatmap of the 1-year normalized cumulative buy/sell volume difference for various altcoins, showing the buying and selling pressure over time. Solana (SOL) has seen alternating strong buying and selling phases, with recent activity showing increased buying interest. Cosmos (ATOM) and Polygon (MATIC) have also shown increased buying pressure despite mixed activity trends.
Cardano (ADA) and PancakeSwap (CAKE) have shown balanced buying and selling phases, with recent trends proving increased buying pressure. Coins like AMP and ANKR have also demonstrated increased buying activity. The heatmap reveals that most altcoins are seeing increased buying pressure as whales and large investors accumulate altcoins in anticipation of a rally.
Meanwhile, coins experiencing selling pressure, as indicated by the predominantly red areas on the heatmap, include DOGE, DASH, AXS, XRP, COMP, and AAVE, BNT.
Bitcoin whales are also buying
It is important to note that while whales are accumulating altcoins, Bitcoin whales are also active. Crypto Basic note an increase in buyer activity on Binance, which aligns with an increase in the buy/sell ratio of takers and whale movements. Analyst Ali Martinez highlighted the ratio fluctuations from below 0.8 to above 1.7 between July 27 and 31. Ratios above 1.0 indicate aggressive buying, often preceding price rallies.
From July 27 to July 28, the ratio remained mostly above 1.0, corresponding to the rise in Bitcoin price from around $66,500 to over $67,000. A spike to around 1.5 led to a sharp increase in price to around $68,500. However, on July 30 and 31, the ratio fell below 1.0 several times, corresponding to a drop in price to around $66,000, before a final spike to 1.7 indicated another slight increase in price.
Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinion of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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