Here are the top 8 Altcoins that are potential Solana killers

Prominent market watcher Altcoin Daily highlights a list of altcoins that are potential Solana killers in 2024, including Cardano, Polkadot, Toncoin, and Near Protocol.

Solana has had a remarkable performance this year, with SOL price skyrocketing 69.6% year-to-date (YTD). The asset achieved this feat despite the numerous declines recorded throughout the market since the start of the year.

At its current price of $172.94, SOL has seen a 4% rise in the last 24 hours and a 2% growth over seven days. Additionally, the price of Solana has soared 175.9% over the past six months.

The surge in SOL price can be attributed to influx new tokens, notably memecoins, on the Solana network. These new tokens have increased the usage of Solana’s network, thereby boosting demand for SOL. Despite its remarkable performance, Solana has faced significant issues, such as major network outages.

Expert identifies 8 Solana killers

This has given rise to speculation that other large decentralized crypto projects could rise to the occasion and pose a major threat to Solana’s dominance. The crypto community calls these projects “Solana Killers,” a bold statement indicating a rivalry.

Interestingly, prominent crypto analyst Altcoin Daily is among the market experts who share this sentiment. According to an X article from yesterday, the analyst highlighted eight altcoins that are potential Solana killers in 2024.

Altcoin Daily’s list of potential Solana killers includes Near Protocol (NEAR), Toncoin (TON), Aptos (APT), Polkadot (DOT), Mina (MINA), Cardano (ADA), Sui (SUI), and Cosmos ( ATOM).

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Additionally, the leading market watcher included Injective (INJ) in the bonus list while urging other crypto enthusiasts to suggest other projects that are potential Solana killers.

Possible reasons behind selection

Although Altcoin Daily did not state the reason for this selection, a common trait among these projects is their decentralized nature. Additionally, the Altcoin Daily crypto assets, labeled Solana Killers, have also made a major impact on the crypto industry.

Some even outperformed Solana in some aspects, like peak performance. Notably, Cardano has not experienced any major network outages since its launch in 2017. The team behind Cardano is focused on technological advancement, which has seen Cardano rank ahead of other crypto projects in terms of development activity.

Meanwhile, most altcoins on the list, including Toncoin and Near Protocol, have seen more gains than Solana this year. Data from CryptoRank shows that the prices of NEAR and TON have surged 218.2% and 106.9%, respectively, since the start of the year, compared to 69.6% for SOL.

Nonetheless, SOL ranks among the top 5 crypto assets, with a market capitalization of $79.84 billion. Among the eight Solana Killers Altcoin Daily mentioned, Toncoin is closest to Solana in terms of valuation. TON has a market capitalization of $17.89 billion, making it the ninth largest cryptocurrency.

Cardano closely follows TON as the 10th largest asset with a market capitalization of $16.5 billion. It remains to be seen whether these cryptos could ultimately threaten Solana’s dominance and outperform the asset in the long term.

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 opinions of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.

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