Altcoins are gearing up to potentially outshine Bitcoin in 2024, with a bullish trend ignited by Bitcoin’s ascent past the $51,000 resistance level. Among the standout cryptocurrencies are Solana (SOL), Chainlink (LINK), VeChain (VET), Internet Computer (ICP), and ORDI, each demonstrating unique strengths and technological advancements poised for significant growth.
1. Solana (SOL)
Solana, a blockchain known for its remarkable transaction speed and efficiency, has recently captured significant market attention, showcasing solid investor confidence in its innovative framework. This enthusiasm stems from its escalating ecosystem and attractiveness as a robust platform for decentralized app development. Throughout 2023, Solana’s value soared nearly more than ten times, a testament to its burgeoning appeal in the crypto sphere, making it the best altcoin to buy.
SOL’s value skyrocketed, breaching above the $100 mark, a clear indicator of its robust market performance. At the time of writing, Solana price is trading at $109, despite a minor 4-point dip in the past day. Yet, with a 5% increase over the past week, it firmly positions itself as a top alternative coin investment.
2. Chainlink (LINK)
Chainlink, a platform that facilitates the integration of externally connected smart contracts, has also seen a significant uptick. Early 2024 witnessed a bullish trend for Chainlink, with its LINK token climbing over 60% in value, partly buoyed by Bitcoin’s surge past the $51,000 barrier, energizing LINK and other cryptocurrencies.
In recent weeks, Chainlink has outperformed expectations, crossing the pivotal $19.00 threshold with a more than 5% gain. Despite a slight over 5% pullback in the last 24 hours, Chainlink price is currently at $19.35, suggesting it is well-positioned for further gains as 2024 progresses.
3. Vechain(VET)
VeChain, a distinguished platform for enterprise-grade L1 smart contracts, is currently in the spotlight due to its bullish market movement. Its dedication to expanding and enhancing platform features aims to attract a wider audience, marking it as a promising investment avenue. With Bitcoin’s positive momentum, VeChain price has seen a 1.40% uptick today, with its price at $0.04618, indicating a strong upward trend.
4. The Internet Computer (ICP)
The Internet Computer (ICP) stands out as a groundbreaking development in blockchain technology, challenging the conventional capabilities of speed and scalability on the web. It aligns itself with giants such as Bitcoin and Ethereum by offering smart contracts and data management advancements.
ICP’s vision extends to enhancing the Internet as a universal computing platform, supporting everything from online services to the decentralized finance ecosystem. A distinctive feature of ICP is its Consensus and Chain Key Technology, pushing the boundaries of blockchain’s utility beyond simple transactions and interactions. Over the last day, ICP price has seen a 2.79% uptick in its price, alongside a notable 137% growth in the past year, underscoring its rising prominence and potential in the digital landscape.
5. ORDI
ORDI has risen to prominence as a standout crypto investment in 2023, thanks to its impressive performance on leading exchanges like Binance and a staggering 800% return on investment for those who got in early. As the first BRC-20 token on Bitcoin, ORDI is at the forefront of harnessing the Ordinals protocol, marking a revolutionary step in token functionality within the Bitcoin blockchain.
Currently valued at $69.69, ORDI price has experienced a 9.10% decrease in value over the last month. With a total supply capped at 21 million coins, it echoes the limited availability of Bitcoin, contributing to its allure. ORDI’s valuation has soared to a fully diluted market cap of around $1.4 billion, setting a precedent for integrating Bitcoin-based tokens and collectibles and fulfilling a growing demand for more complex applications within the Bitcoin framework.
Bottom Lines
In conclusion, as the crypto market continues to evolve, Solana, Chainlink, VeChain, Internet Computer, and ORDI are well-positioned to lead the charge, potentially outperforming Bitcoin in 2024. Their innovative technologies and growing ecosystems make them compelling choices for investors looking to diversify their portfolios beyond Bitcoin.
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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Source: https://coingape.com/markets/5-altcoins-to-buy-likely-to-outperform-bitcoin-in-2024/
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