5 Altcoins to Buy Before 2024 Bull Run Begins
Buckle up, crypto enthusiasts, because Bitcoin is on a tear! As of today, February 14, 2024, the world's leading cryptocurrency has surpassed the $51,000 mark, marking yet another all-time high. This surge has sent shockwaves through the crypto market, leaving many investors wondering: is this the start of a long-awaited bull run for altcoins?
Read more: 5 Hidden Gem Cryptos Under 1 dollar with 5,000% Growth Potential in 2024
While Bitcoin continues to dominate the headlines, altcoins – the diverse and innovative alternatives to Bitcoin – have been quietly simmering in the background. Many experts believe that 2024 could be the year altcoins finally take center stage, fueled by increased institutional adoption, the development of groundbreaking decentralized finance (DeFi) applications, and the ever-expanding use cases for blockchain technology.
This article will explore five altcoins that have the potential to explode in value during the upcoming bull run. We'll delve into each coin's unique value proposition, recent price movements, and expert predictions for the future. So, whether you're a seasoned crypto investor or just dipping your toes into the market, this guide will equip you with the knowledge to make informed investment decisions and potentially capitalize on the altcoin boom of 2024.
Uniswap (UNI)
How much is one UNI worth: $6.87
As per data on Binance, the real-time value of Uniswap stands at $6.873887 for each UNI/USD pair, boasting a market capitalization of $4.11 billion USD. Over the past 24 hours, its trading volume has reached $89.38 million USD. The UNI to USD exchange rate is continuously updated, reflecting real-time market conditions. Uniswap has experienced a growth of +1.05% in the past day, supported by a circulating supply of 598.19 million UNI tokens.
Uniswap (UNI) as one of the world's largest decentralized exchange (DEX), has an impressive total-value-locked (TVL) that's expected to keep climbing, hinting at a bright future. Its edge lies in eliminating intermediaries, enabling direct crypto trading, which aligns perfectly with the booming DeFi market.
Recently, Uniswap embraced Version 4, showcasing its dedication to user experience. The game-changer? "Hooks," a revolutionary feature for automated market makers (AMMs), empowering developers to interact with asset pools with newfound flexibility and creativity. This innovation injects even more value and functionality into the platform.
Uniswap Labs stays true to its decentralized roots by actively involving the community. This ensures the platform evolves in tandem with user needs and preferences, solidifying its position as a responsive and user-centric leader in the DeFi space.
Polygon (MATIC)
How much is one MATC worth: $0.88
As per latest data on Binance, the current price of Polygon is marked at $0.889057 per MATIC/USD, with the overall market valuation standing at $8.55 billion USD. The 24-hour trading volume has been recorded at $378.99 million USD. The MATIC to USD rate is meticulously updated to mirror the live market scenario. Over the last 24 hours, Polygon has seen an upward movement of +1.34%, underpinned by a circulating supply of 9.62 billion MATIC tokens.
Polygon (MATIC) stands tall as a prominent Layer 2 scaling solution for Ethereum, tackling the network's scalability hurdles and paving the way for mainstream adoption. Its impressive partnerships with renowned brands like Fox Corporation, DraftKings, NFL, Starbucks, and Nike illustrate its growing influence and potential.
Analysts in the field, including Michaël van de Poppe, have observed that MATIC has demonstrated steadfastness at crucial support levels over extended periods, with signs of liquidity absorption suggesting a readiness for an upward trajectory. Although MATIC has faced some challenges in performance lately, predictions are circulating about a potential major upswing, with forecasts pointing towards a target range of $1.25 to $1.50. This would represent an impressive increase of roughly 90%, signaling a strong optimism surrounding MATIC's future market movements.
Immutable X (IMX)
How much is one UNI worth: $2.98
The current price of Immutable is set at $2.988264 for each IMX/USD pair, showcasing a market capitalization of $4.05 billion USD. The volume of trades over the last 24 hours is noted at $152.90 million USD. The IMX to USD exchange rate is dynamically updated, ensuring accuracy with live market trends. Immutable has witnessed a positive adjustment of +2.97% within the last 24 hours, supported by a circulating supply of 1.36 billion IMX tokens.
Immutable X (IMX) enters the arena with Sphere, a dedicated NFT marketplace for gamers. This strategic move solidifies their position in the booming gaming market, further amplified by partnerships with influential players like Polygon, VanEck, and Ubisoft.
Support from industry leaders like VanEck and Ubisoft not only bolsters IMX's credibility but also opens doors to capturing a significant market share. This strategic positioning has fueled investor confidence, resulting in a price surge within the past week, climbing from $1.89 to $2.31 (11.09% increase). Additionally, market capitalization jumped over 20%, exceeding $3 billion.
Altlayer (ALT)
How much is one ALT worth: $0.39
The current market price of Altlayer is quoted at $0.396386 for each ALT/USD, presenting a total market valuation of $436.03 million USD. The trading activity over the past 24 hours has amounted to $202.95 million USD. The exchange rate for ALT to USD is continuously refreshed to reflect the latest market dynamics accurately. Altlayer has experienced a notable increase of +13.12% in the previous 24 hours, backed by a circulating supply of 1.10 billion ALT tokens.
Altlayer (ALT) aims to revolutionize blockchain scalability and interoperability with its "Restaked Rollups" concept. This ambitious project seeks to integrate diverse rollup technologies, boosting security, decentralization, and transaction speed.
Through its restaking mechanism, Altlayer unlocks enhanced efficiency and interoperability, tackling two long-standing challenges within the blockchain industry. This promising solution paves the way for smoother operation and broader adoption.
Read more: Top 5 Cryptocurrencies To Watch in February 2024
Tackling scalability and interoperability head-on addresses crucial barriers to mainstream adoption. Backing from prominent crypto investors and launching products dedicated to optimizing rollup functionality solidify its foundation for future growth. As the blockchain ecosystem rapidly evolves, Altlayer's commitment to solving complex technical hurdles positions it as a project with significant potential for impact.
Pyth Network (PYTH)
How much is one ALT worth: $0.68
The current trading value of Pyth Network, as per Binance, is marked at $0.681162 for each PYTH/USD, showcasing a market capitalization of $1.02 billion USD. The 24-hour trading volume has reached $234.18 million USD. The exchange rate for PYTH to USD is constantly refreshed to accurately reflect live market conditions. Pyth Network has witnessed a remarkable gain of +15.21% in the last 24 hours, supported by a circulating supply of 1.50 billion PYTH tokens.
The Pyth Network (PYTH) aims to stand out in the DeFi space by supplying real-time market data directly to blockchain applications. Its oracle network boasts unrivaled speed and accuracy across diverse financial instruments, differentiating it from the competition.
Pyth aggregates data from top-tier financial institutions, ensuring high-quality market information readily available for DeFi applications. This empowers users with real-time insights, leading to more informed and efficient market decisions. PYTH's potential to "explode" is fueled by its ability to solve a crucial pain point: reliable and timely data within DeFi. Partnerships with leading data providers and support for over 40 blockchains position Pyth as the go-to oracle service, enhancing DeFi application functionality. This widespread interoperability and commitment to real-time data make Pyth a key player in driving DeFi adoption forward.
What Alt Coins to Buy in the Next Bull Run?
The cryptocurrency market presents exciting opportunities, but it's crucial to tread cautiously. While this article explored five promising altcoins – Uniswap (UNI), Polygon (MATIC), Immutable X (IMX), Pyth Network (PYTH), and VeChain (VET) – remember, this information is intended solely for educational purposes and should not be construed as financial advice.
Conduct thorough research, understand your risk tolerance, and diversify your portfolio to navigate the dynamic world of altcoins. Consider fundamental factors, market trends, community sentiment, and your own investment goals before making any decisions.
The potential for a bull run exists, but remember, the crypto market is inherently volatile. Stay informed, invest responsibly, and enjoy the journey of exploring this innovative and ever-evolving space.
