“Altcoins are waking up” — this is the opinion of cryptocurrency experts, considering the market situation that is developing this autumn. Apparently, the altcoin market in 2024 has finally completed the slowdown phase.

Contrary to the seasonal cyclicality, the bitcoin exchange rate rose by more than 10% by the end of September. This movement is completely uncharacteristic, as historically, the first cryptocurrency has always shown an average drop of 6% in September.

In turn, following this trend and the global decline in key interest rates, the altcoin index gained 20%. 

At the time of writing, the price of BTC has crossed the $67,500 mark, which further increases the chances of an altcoin rally before the end of this year and in the first quarter of next year. Experts note a positive attitude of the US Federal Reserve towards further interest rate cuts, which will give an additional boost to altcoins with high yield potential. According to numerous forecasts on altcoins for the end of 2024, the multi-month downtrend is changing its vector and rushing higher. So the coming months promise to be dynamic and eventful. 

In this review, we will look at the best altcoins of 2024, as well as the rising stars among cryptocurrencies, which are recommended to pay attention to by leading crypto analysts. 

Experts’ predictions on promising cryptocurrencies in 2024

Despite mixed opinions, Ethereum (ETH), the largest altcoin by capitalization after bitcoin, remains the favorite among the underlying assets in crypto portfolios. Solana (SOL) and Avalanche (AVAX), as well as second-layer solutions for Ethereum such as Polygon (MATIC) and Arbitrum (ARB), are also actively used as altcoins for long-term investments. Emerging altcoins with growth potential, such as SUI, SEI, Ronin and others, are attracting a lot of market attention. 

A recent report by the research department of Grayscale, one of the largest and oldest crypto asset management firms in the world, identified altcoins with high growth potential. Let’s take a closer look at them.

In this study, Grayscale analysts have compiled a list of altcoins with growth prospects in 2024. It is based on the criterion that individual coins outperform the overall market dynamics. Hundreds of digital assets were researched, with a focus on coins from fast-growing segments. Special attention was paid to meme tokens, artificial intelligence tokens and RWA tokens (tokenized real-world assets). The updated list also includes altcoins, which, according to the investment company’s experts, can strengthen their positions in the medium and long term.

In addition to using specially developed indices and composite indicators, the analysts also considered the following factors when evaluating new altcoins with high potential:

• Technological indicators: innovations, protocol updates that could lead to an increase in the value of the asset;
• Ecosystem: community activity and growth momentum;
• Market indicators: exchange presence, liquidity and value dynamics;
• Macroeconomic aspects: regulatory, political and economic environment that may affect the asset’s development prospects.

Experts added to the updated list of promising altcoins that can show growth in 2024-2025, such coins as Sui (SUI), Bittensor (TAO),

Optimism (OP), Helium (HNT), Celo (CELO) and Universal Market Access (UMA, a protocol for creating synthetic assets in Ethereum).

The proposed list places the coins in descending order by market capitalization, starting with BTC. Let’s take a closer look at some of them. Let’s start with the most popular coins that still have a high growth potential.

Ethereum (ETH) 

Despite a difficult year and pressure from other smart contract platforms (Solana, Toncoin and Sui), the Ethereum network maintains its leading position. Ethereum developers are preparing to release another Pectra updаte to make the network’s infrastructure more efficient and improve its position. 

Solana (SOL)

Developments in the meme coin and DeFi sectors have further accelerated the altcoin’s growth this year. Solana, a blockchain platform for creating decentralized applications with high performance and low transaction costs, is the fifth most capitalized of all cryptocurrencies. It is a major competitor to the Ethereum network, and analysts predict that the platform’s token price growth could reach 30-40% in the near future.

Chainlink (LINK)

Ranked 15th by capitalization on CoinMarketCap, the price of this altcoin has doubled over the course of the year. LINK is seen as a potentially hot asset in the RWA segment. The altcoin maintains and develops a strong position in DeFi as a key data provider for smart contracts. 

Uniswap (UNI)

Uniswap is the largest DeFi protocol and a key decentralized exchange created on the Ethereum network. It was the basis for the first introduction of the Automated Market Making (AMM) model. The UNI token is ranked 23rd in the world in terms of capitalization.

Now let’s take a look at some examples of promising altcoins that have either just appeared on the market or have made a qualitative leap and now experts are predicting their continued growth for at least the next six months.

Toncoin (TON)

Toncoin clearly belongs to the category of cryptocurrencies that can surprise the market. It is built on The Open Network platform, a unique community-driven technical blockchain. TON demonstrates outstanding performance and scalability through dynamic sharding technology and low fees.

Thanks to its close integration with Telegram and the launch of clickers that caused a massive excitement among users, Toncoin has become one of the most discussed projects of the current year and at the same time a weighty player in the market. It demonstrated a value growth of more than 300% over the year and took the 10th place by capitalization in the world. The coin can rightfully be considered one of the most innovative altcoins of 2024.

Sui (SUI)

Sui is a next-generation blockchain that uses Move’s proprietary programming language and unique consensus algorithm protocols. Created by a team of former top managers and developers from the Meta division, the project aims to provide instant settlement and reduce the cost of running DeFi services and Web3 projects. Launched last year, Sui successfully launched updates this year that accelerated transactions by 80% and increased token value by 170%. In September, the network’s TVL doubled, making SUI one of the top 10 cryptocurrencies by this metric. Mysten Labs is receiving funding from major investment funds such as a16z, Coinbase Ventures, Redpoint, Electric Capital and others to develop the SUI project.  The studio team is currently testing the technology, which conducts transactions offline, without the Internet, over radio waves, and plans to integrate it into DePIN networks.

Bittensor (TAO).

This coin joins the ranks of successful new cryptocurrencies in the market in 2024 by innovating the integration of artificial intelligence technology. 

Bittensor is an autonomous layer 1 blockchain developed by Opentensor Foundation and powered by a consensus algorithm combining PoS and PoW. It provides atypical bitcoin-inspired tokenomics (with limited supply and periodic halving) for blockchain startups. The platform is an open knowledge market for training artificial intelligence models with highly specialized algorithms and monetizing the interaction between participants (hardware providers and users). The commercial success of TAO — the new altcoin ranked 25th in the world in terms of capitalization — confirms the power of the influence of new technologies on altcoins and demonstrates the high long-term growth potential of AI coins.

Stacks (STX)

Stacks is a sidechain designed to enhance bitcoin by utilizing smart contracts and implementing the Proof-of-Transfer consensus algorithm. The STX token is used to create wrapped bitcoins (sBTS) for use in DeFi applications. The Stacks project continues its steady development as the most successful second-layer network for the first cryptocurrency. At the time of writing, STX ranks third in CoinMarketCap’s global ranking.

Helium (HNT)

Helium is developing a productive and trusted Internet of Things. The project is a decentralized wireless network for IoT devices, providing a cheaper and more resilient alternative to mobile internet and traditional wireless networks. Using 5G access points and LoRaWAN devices, Helium provides a decentralized wireless infrastructure. Last spring, the network migrated to the Solana blockchain, which supported its strong development and the growth of its service token.

How to choose a promising altcoin?

If you plan to invest in altcoins in 2024, the first thing you need to do is to decide on an investment strategy. 

Investment strategies in altcoins are divided into short-term, medium-term or long-term depending on the investment horizon. Professional traders build their portfolios mainly from the most profitable assets and choose short-term and medium-term strategies with a relatively high level of risk (this includes investing in new altcoins). If you are not ready to perform regular trading operations and rebalance your crypto portfolio, it is better to rely on the opinion of professional market participants when choosing promising altcoins. For example, the analysts of the investment company Grayscale, whose report we have reviewed in this article. Compare the opinions of different cryptocurrency market experts, study their research and forecasts, and then it will be easier for you to make a decision.

Once the potential circle of altcoins for investment is outlined, you need to do the following:

• Study the history of the project. The best choice will be altcoins that have been in circulation for more than a year, have survived the last cryptozyme and are still developing.
• Consider market capitalization. No matter how brilliant the idea and concept of the project may seem to you, choose altcoins that are at least in the top 100 in terms of market capitalization.
• Evaluate the technology’s applicability. Ideally, it should be innovative, and most importantly, it should have the prospect of mass application to solve real (not abstract) problems.
• Study the creators of the project and their past cases. The publicity of the team members and the availability of information about them and their successful project experience works to support the altcoin’s image. 
• Read the roadmap. A sustainable project roadmap includes clear long-term goals and detailed immediate plans.
• Find out about funding. Having strong partnerships and increasing funding from strong players ensures a strong future for the project.
• Monitor the competition. Once you’ve determined the strengths of the altcoin you’re considering, check out the competition. You may find that some projects are already leveraging these advantages more successfully.

Thank you for your attention. Invest safely and profitably!

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