3 Top Solana Rivals to Buy to Turn $1 to $100

Cardano (ADA), Toncoin (TON), and Avalanche (AVAX) are emerging Solana rivals to buy, as the SOL price signals a continuation of a sideways trend. Over the past five months, the Solana coin has wavered around the $160 level, projecting a lack of luster performance. Thus, the sellers could strengthen their grip in September if this altcoin fails to gain sufficient momentum in the coming week.

Solana Rivals to Buy as SOL Faces Uncertainty in September

Data from cryptoranks shows Solana coin historical performance based on every month since 2020. The chart below indicates uncertain trends for SOL price in September, with an average growth of +0.85% and a median return of +6.5%. This suggests that Solana buyers may face challenges in achieving a sustainable recovery in the upcoming months, potentially giving its competitors in the layer 1 space an opportunity to gain momentum.

Toncoin (TON)

Toncoin, the native cryptocurrency of the TON blockchain, has experienced rapid growth in 2024, driven by its integration with Telegram and strong ecosystem developments. By press time, TON price traded at $6.7 and boasted a market cap of $17 billion. 

Amid its growing utility in decentralized finance, play-to-earn games, and fast, low-cost transactions, Toncoin stands strong among Solana Rivals to buy. Data from IntoTheBlock analytics highlights a significant milestone for the TON network, with the number of addresses holding a balance surpassing the 40 million mark. The parabolic in this address state indicates increasing adoption and a robust network, attracting both retail and institutional investors.

With sustained buying, the asset could drive a 28% surge to challenge the $8.3 All-time High.

Cardano (ADA)

The layer 1 cryptocurrency Cardano has traded sideways for the past two months. With its current trading price at $0.35, ADA is down 88.65% from its all-time high of $3.10 while maintaining a market capitalization of $12.6 billion.

According to Santiment data, the supply distribution among Cardano addresses holding between 1,000,000 and 10,000,000 coins has displayed a notable rally. The on-chain metric recently spiked to 2460 ADA coins, hints the large holders (whales) are accumulating this asset and projecting confidence for a further price rally.

If the bullish momentum persists, the ADA price could rally 20% to retest $0.425 resistance, followed by $0.81.

Avalanche (AVAX)

Avalanche is a decentralized, open-source blockchain platform known for its high scalability, low transaction fees, and fast processing times. Among Solana Rivals to buy, AVAX price has experienced six consecutive days of gain, uplifting the asset from $19.78 to $23— a 16.5% increase.

The bullish momentum is backed by a sudden uptick in the Avalanche large transaction volume, according to Intotheblock data. The on-chain metric recently spiked to 391 Txs, signals the increasing institutional interest or whale activity that could bolster price recovery.

Thus, the Avalanche price prediction hints at a potential breakout rally to $33, followed by $65.

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Sahil Mahadik

Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading

Disclaimer: 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.