Analyst Identifies 4 Altcoins Set to Explode In 2024
Altcoins are poised to kickstart a new crypto bull run, with analysts urging investors to accumulate them before they surge. Citing previous cycles in 2017-2018 and 2019-2020, experts believe the market has transitioned from an accumulation phase to an uptrend phase. Typically, large investors strategically buy crypto during dips, spearheading the accumulation phase.
The analyst highlights four altcoins with potential for significant growth. The first on the list is the RWA token ONDO of Ondo Finance. This project builds financial software for managing tokenized real-world assets and traditional crypto products. ONDO trades at $0.64, and its market cap stood at $890 million.
Second is the open-source, decentralized computing platform Golem that facilitates AI computing power. Its native token, GLM, is worth $0.28, with a market cap of $280 million. ATH token of Aethir Cloud is another notable project that has been making waves lately, especially in the emerging DePIN sector. It builds a decentralized real-time rendering network for the metaverse, aiming to improve content accessibility. The ATH currently hovers at $0.059, Market Cap: $239 million.
Lastly, DeFi project Ravencoin: A peer-to-peer blockchain designed for efficient asset creation and transfer. Its in-house token RVNs price trades at $0.017; the market cap is $245 million.
Is the Altcoins Bear Market Over?
Since their March peaks, many altcoins have plummeted by a substantial 60-70% struggling to regain momentum. This bearish trend has ignited widespread panic among holders of altcoins as the market appears stagnant hindering a quick rebound.
However, leading market analyst Captain Faibik earlier predicted a rebound starting in mid-September. Overall, there is some optimism on the potential for altcoins to bounce back to Marchs high in the fourth quarter. This outlook gives a slight relief to investors who have been facing an era of low volatility and falling prices. This feeling can be attributed to most of the traders in the crypto market considering waiting for the market to shift to a more volatile situation.
That said, this article reports on an analysts opinion and should not be considered financial advice. Readers are urged to conduct their research before making any investment decisions.
Read more: https://www.tronweekly.com/analyst-identifies-altcoins-explode-2024/
Text source: TronWeekly
