Altcoins
5 Expertly Picked Altcoins to Buy to Achieve a Million Dollar Crypto Portfolio
Cryptocurrency prices are falling, which to a large extent is pushing investors to the limit. Although Bitcoin Price has remained relatively suppressed since the halving in April, most altcoins to buy are paying the price.
For investors planning to grow their cryptocurrency portfolios to over $1 million in 2024, narrowing down the best altcoins to buy is the toughest battle. However, CoinGap An expert-curated list can be a starting point. It is essential to conduct further research before deciding to purchase a crypto token.
1. Top Altcoins to Buy – Ethereum
Diversifying the altcoin purchasing portfolio requires careful planning. As the largest altcoin with a market value of $358 billion and trading at $2,987, Ethereum earns a place in this portfolio.
The transition from a Proof of Work (PoW) to Proof of Stake (PoS) consensus mechanism continues to open the Ethereum network to new opportunities. Investors can now stake ETH to participate in transaction validation and ensure network security. By doing so, they earn rewards in the same coin, thereby increasing their holdings.
The emergence of liquid staking protocols like Lido DAO allows stakeholders to access liquidity.
Ethereum currently sits 38% below its all-time high of $4,878, CoinGecko the data shows. As the second largest cryptocurrency, Ether is one of the most traded digital assets and therefore extremely liquid.
Ethereum Weekly Price Chart
Compared to other altcoins, Ethereum exhibits stability similar to Bitcoin. This reduces the volatility of the crypto portfolio, thereby helping to manage risks.
2. dog hat (WIF)
The meme coin craze is far from over, with tokens in this sector and immense potential. Meme Coins particularly in the Solana ecosystem, have become gems, as investors seek a piece of the pie.
Dogwifhat (WIF) has become very competitive in a short time, reaching a new all-time high in the first quarter. It enjoys a huge social following which often drives price movements.
After hitting $4.85 on March 1, from an all-time low of $0.067 in January, WIF has attracted a lot of attention from investors eyeing quick gains.
As a meme coin, dogwifhat is among the most volatile cryptos on the market. Therefore, investors should make calculated decisions when using it to diversify their portfolios.
WIF Weekly Price Chart
WIF was hovering at $2.89 on May 8 after a 12.30% depreciation in 24 hours. The crypto market has been in a slump in recent weeks, with most tokens struggling to find direction.
3. Solana
Smart contract tokens like Solana were developed to provide alternative platforms for decentralized applications. Investors saw their potential as Ethereum “killers,” solving significant challenges such as network congestion and high transaction costs.
Solana bore the brunt of the shock FTX implosion falling to $8 from a record $260. Whereas the narrative was that the ecosystem was dead and SOL might not recover.
Solana Price Chart
Surprisingly, Solana has made a splendid recovery over the past two quarters, reaching $209 in March this year. Due to current market headwinds, Solana is trading at a massive discount to this level, at $146, and is worth having the altcoins to buy a portfolio.
4. Polygon (MATIC)
The Ethereum ecosystem offers various technologies that help advance the network. Polygon and others layer 2 the protocols run on top of the Ethereum blockchain, enabling faster and cheaper transactions, later confined to the mainnet.
Polygon Price Chart
Polygon has a market value of $6.3 billion, ranking 20th among other cryptos. After a historic high reached in 2021 at $2.92, MATIC, offers a 76% discount. Over the past 24 hours, the token has lost 4% of its value to $0.678.
5. Hedera (HBAR)
Hedera is a token known for contributing to the decentralized crypto economy as an enterprise-grade public network. Developers creating powerful decentralized applications (dApps) find the system very stable.
Based on CoinMarketCap data, HBAR was hovering at $0.1088 on Wednesday, down 3% in 24 hours. From the all-time high of $0.56, Hedera is offering an 81% discount.
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