With Bitcoin (BTC) reaching new heights, crypto investors are looking for the next altcoin that will return huge profits in the year. After studying the market trends, crypto analysts have picked some tokens as the best altcoins to buy now. Most of the things that analysts consider are the project's roadmap, community, price history, and the chances of the token returning massive profits over the years. Let's find out the expert's picks of top cryptos to invest in 2024 below.
5 Top Altcoins To Buy Now
Below is the list of 5 top altcoins to buy now in 2024.
2.Solana
3.THORChain
4.Avalanche
5.Cardano
1. KangaMoon
Kangamoon (KANG) tops our list of altcoins to buy now because of its high growth potential and attractive features. It is projected to be the hottest meme coin of 2024, outshining Dogecoin, Shiba Inu, and Bonk. The KangaMoon project hopes to merge a social-fi community with P2E NFT gaming. KangaMoon aims to create a closely knitted community where players can build characters and connect with millions of people on a global scale.
Presently, the KANG token is in the 3rd stage of presale and is sold for just $0.01125, with early investors already getting 125% ROI. More so, there is a 10% bonus for people who buy this memecoin now. Due to the surging momentum of the project, the team has raised over $950,000 in the ongoing stage 3 of the presale, with analysts projecting $1M in the coming days.
The goal of the platform is to build a community for meme enthusiasts. Holders of the KANG token can earn more tokens via various means, such as participating in community activities like sharing tweets and commenting on social media posts that are aimed at promoting the platform. There is a unique referral system where users are rewarded when they invite friends to buy the KANG token.
Analysts have projected 100x returns for KANG token holders this year, which makes it one of the top altcoins to buy in 2024. At the current trajectory, the KANG token price will likely reach $1 in Q2.
2. Solana
Solana is one of the most popular blockchains in the world, and it has features similar to those of Ethereum. Like BTC and ETH, The SOL token can be bought on most Tier-I exchanges. A unique feature of the Solana Blockchain is the use of the proof of history consensus algorithm. This software allows the use of timestamps to determine the next Solana block. While Bitcoin and Litecoin use a proof of work system, the Solana algorithm is faster and more energy efficient.
Meanwhile, Solana native token SOL is one of the top altcoins to buy now. The token has witnessed massive rallies in the past months, with analysts projecting more rallies. Some of the Solana meme coins, like Bonk, and DogWifHat, are also witnessing an astronomical rally which is boosting the Solana ecosystem's popularity.
3. THORChain
THORChain is a decentralized liquidity protocol that permits users to trade crypto assets across a range of networks, such as Bitcoin and Ethereum, without losing full custody of their assets in the process. The ecosystem native token, RUNE, is used for governance and security as part of the THORChains Sybil resistance mechanism. The THORChain uses a proof-of-stake consensus system, which allows the staking of RUNE tokens. With THORChain, users can swap cryptos for another without relying on order books to source liquidity.
The THORChain token has been one of the best-performing altcoins in the market for some months. According to data from CoinMarketCap, the token has gained over 37% in the past month and 30% in the past week. Some analysts believe that the THORChain price will reach $10 before the end of Q1 due to the crypto markets' ongoing rally.
4. Avalanche
Avalanche is a layer one blockchain that acts as a platform for DeFi applications and custom blockchain networks. Launched in September 2020, the Avalanche platform has proven to be a formidable blockchain network. It is an open-source project that is secure and transparent. It encourages faster transaction processing while also not compromising scalability. The native Token of the Avalanche blockchain is AVAX. The token is used to secure the Avalanche blockchain and pay transaction fees across the network.
A look at the Avalanche price chart shows the token price has spiked by 20% in the past month and over 178% in the past year based on market stats. The Avalanche price has rallied from $36 to over $43 in the past 30 days which represents over 30% growth. All the Avalanche key market indicators are bullish and as such, analysts pick the token as one of the top altcoins to buy in the year.
5. Cardano
The Cardano blockchain operates on a Proof-of-Stake system. It is one of the third-generation blockchains that hopes to solve scalability issues, which are most common in first-generation (Bitcoin) and second-generation (Ethereum) blockchains. With higher generations known for their high gas fees, Cardano is coming up with a truly decentralized low-fee platform. Its Proof of Stake mechanism makes it less energy-intensive than the PoW relied upon by Bitcoin. The platform's native token is ADA. The token is used to pay for transaction fees across the network. Also, developers use the token to create smart contracts and applications that run on the secure, decentralized Cardano blockchain.
Meanwhile, the Cardano token has witnessed impressive price performance since the beginning of the year, making it one of the best altcoins to invest in 2024. For context, the Cardano price has increased by 36% in the past month and 131% in the year-to-date price metrics. The token has broken the $0.7 resistance level and is now targeting the $1 mark. With the market heading for a bull run, analysts think that the Cardano price will reach $2 in the year. Thus making it one of the altcoins to buy and HODL now.
Final Thoughts on Top Altcoins To Buy in 2024
When you add these altcoins to your portfolio with other traditional coins, you will broaden your experience of high-yielding crypto projects that can help you maximize your profits. These coins offer different opportunities in the crypto market space. However, ensure you spread your investments among these top altcoins to have a hassle-free trading experience. This article is only an opinion and not financial advice. It is advisable that you do proper research before investing in projects.
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