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The crypto market is known for its volatility, presenting challenges and significant growth potential for potential investors. In 2024, the crypto market is experiencing a historic boom, recording another bullish year in the evolution of digital assets. Bitcoin has shattered previous records, recently updating its all-time high to $108,200. At the same time, the overall crypto market cap has soared to an impressive $3.79 trillion.
Amidst this growth, there's the lingering idea that the best crypto opportunities have already passed, especially as BTC and ETH dominate headlines. This sentiment may often discourage investors seeking the next innovation to support. However, the altcoin market still remains an untapped well of potential, with many projects yet to achieve widespread recognition or adoption.
The crypto market is crowded with projects, and not all are destined to succeed. While some stand out by offering genuine utility and addressing real-world problems, others rely on fleeting trends and hype, making it difficult for investors to separate winners from the rest.
In this guide, we'll explore some of the most promising altcoins to consider right now. These projects have demonstrated strong fundamentals and the potential to outperform in the current market cycle.
Bitcoin's market cap gained 148% this year compared to a 77% gain for Ethereum and a 54% gain for stablecoins, according to Coinmarketcap data. The liquidity inflow to Bitcoin is one of the main reasons for slower gain among the altcoins. Bitcoin's increased volatility has been the primary driver behind the high BTC dominance. As a result, altcoins haven't been able to fully benefit from the ongoing bull run.
Currently, Bitcoin is outperforming the altcoin market. CMC Alt index chart shows the rising altcoin market cap while the declining altcoin season index due to decreased interest in alternative crypto assets.
The Altcoins season index chart helps traders assess the current phase of the market and potentially decide how to allocate their portfolios.
Top altcoins by market cap, excluding stablecoins are Ethereum, XRP, Solana, BNB, and Dogecoin.
The table below shows the token’s current price, year-to-date growth, seven-day percentage change, and total market cap.
Name | Price (USD) | YTD % | 7D % | Market Cap (USD) |
---|---|---|---|---|
Ethereum (ETH) | $3,842.67 | 68.41% | 4.79% | $462,857,567,998 |
XRP (XRP) | $2.51 | 307.48% | 8.66% | $143,308,469,751 |
Solana (SOL) | $217.36 | 114.12% | -0.59% | $104,155,197,559 |
BNB (BNB) | $710.05 | 127.30% | 4.51% | $102,253,186,907 |
Dogecoin (DOGE) | $0.3883 | 333.94% | 0.35% | $57,170,621,071 |
It's worth noting that, excluding Dogecoin, all altcoins listed are Layer-1 crypto projects that offer real-world utility. Ethereum is known for its smart contracts and EVM, which power the DeFi ecosystem. XRP provides infrastructure for cross-border payments.
Similarly, the Solana ecosystem is recognized for its active developers' activity, and BNB is famous for its comprehensive ecosystem. Dogecoin, however, stands out as the only altcoin making waves with its $57 billion market cap.
All cryptocurrency tokens other than Bitcoin are called altcoins (short for alternative coins). There are thousands of altcoins already in the cryptocurrency market, while only a few of them offer true utility and higher returns for the investors.
Here are some of the generic benchmarks for choosing an altcoin for investing.
Based on project fundamentals and technical indicators, our team has shortlisted top altcoins investors can capitalize on during the ongoing bull run. Below are our top picks for the best altcoins for 2024 worth considering right now.
5ThScape is an innovative gaming token aimed at upgrading and merging the virtual reality (VR) and augmented reality (AR) gaming experience. The project targets VR gaming, education, entertainment, enterprise applications, and training within the virtual reality world. It offers a range of products, including VR games, a VR ultra headset, gaming chairs, and developer centers to foster innovation.
List of games available on 5thScape:
Based on the Ethereum blockchain, 5thScape has a total supply of 5.21 billion tokens. The project will go through a total of 15 funding rounds and aim for $15 million in presale. According to the project roadmap, the token will be listed on the major exchanges in Q1, 2025. The project has also many strategic partnerships in line to enhance its exposure.
What makes 5thScape an attractive option is the fact that the project is still in its presale. Investors seeking opportunities to bag the projects at discounted prices can benefit from this ongoing pre-sale. The growing interest in VR and AR gaming can help early investors to maximize their investments. The current presale price is $0.00433 per token and the token will be listed on the exchanges at the price of $0.01.
Toncoin is a scalable infrastructure for decentralized applications (dApps) with a strong focus on cost-effective transactions. It serves as the native cryptocurrency of The Open Network, a decentralized Layer-1 blockchain. The platform provides a scalable, secure, and user-friendly ecosystem designed for mass adoption. To achieve higher TPS with low-cost transactions, TON utilizes a proof-of-stake consensus mechanism, ensuring quick confirmations and network stability.
Currently, TON is trading at $5.7 with a market cap of $14.5 billion. The token has gained over 160% in the last year and has increased by more than 3% in the past month.
TON broke out above the bearish trendline and attempted to escape the range zone. However, the price is still undergoing a correction. The current crypto bull run presents opportunities for coins like TON, with rising demand positioning it to reclaim its ATH and reward token holders and investors.
Near Protocol is often considered an Ethereum competitor. It is a community-run dApp (Decentralized Application) that focuses on offering a developer- and user-friendly environment. Near Protocol is becoming the go-to choice for many ambitious Decentralized Finance (DeFi) projects due to the advantages it offers over the Ethereum blockchain. Near is the native token of Near Protocol.
Near currently ranks #24 among cryptocurrencies with respect to its market cap. Trading at $6.24, it has a market capitalization of $7.6 billion and a circulating supply of 1.22 billion tokens. Notably, 90% of the Near community is bullish on the project and anticipates significant growth during this crypto bull run.
Near is trading just above the combined support of $6.2 and EMA 100 on a daily timeframe. Near has a short-term target of $8.25. Once it collects enough liquidity from the ongoing price correction, it can aim for higher targets.
Ethereum remains the top-ranking crypto among altcoins. Renowned for its smart contract capabilities, Ethereum powers a range of DeFi protocols and dApps. Ethereum is a strong contender with its significant market cap, developer community, and brand recognition. The developers behind the project are continuously improving the project. Through key updates, such as hard forks, they shifted the Ethereum consensus mechanism from proof-of-work to proof-of-stake to cut gas fees and reduce carbon footprints.
Ethereum faces competitions from blockchains like Solana (SOL), Cardano (ADA), and XRP, which offer higher scalability and lower transaction fees. However, with the recent Ethereum ETF approval, investors have high hopes for this leading crypto project.
Ethereum's price is ranging below the $4,100 resistance level. The price recently retested the upper resistance level and bounced off, entering a correction phase. Ethereum has a solid local support at $3,538. A breakout above the resistance level can set the coin to target its ATH of $4,900.
Dogecoin is the most popular and pioneering meme coin, inspiring hundreds of similar projects, like Dogeverse and Shiba Inu, in the crypto space. It boasts a strong community and a growing use case in the broader crypto ecosystem. Backed by the community, celebrity endorsements, and investor interest, Dogecoin mainly moves based on hype and whale activity. Elon Musk has been the main character in making this project so popular and successful. Many believe he influences its price to benefit his position as he reportedly owns a significant amount of Dogecoin.
With a $56.4 billion market cap, Dogecoin ranks #7 on Coinmarketcap. Trading near the $0.4 zone, this meme coin potentially promises massive gains fueled by extremely positive market sentiments.
Dogecoin is forming a bullish flag pattern. Its massive price gain is under a minor correction as "paper hands" take profits from their positions. The meme coin is expected to consolidate here for a while, collecting more liquidity before resuming its bullish trajectory. Additionally, the crypto meme coin may benefit from Elon Musk's position in Trump's government, potentially driving exponential gains in the future.
Low-cap crypto gems are characterized by their low liquidity, therefore making them highly volatile. Even a relatively small investment of a few thousand dollars can significantly impact their price. However, this also means that large holders, or "whales," can easily dump their tokens and crash the price.
Low-cap altcoins offer the potential for huge and quick gains. However, the risk exposure is incredibly high. If you lack a strong understanding of project fundamentals or techniques like wallet tracking, you risk losing your entire investment in these projects.
Here are some of the hot, trending low-cap crypto altcoins worth considering:
Name | Symbol | 24h % Change | Market Cap (USD) | Volume 24h (USD) |
---|---|---|---|---|
Baby Ripple (babyxrp.xyz) | BABYXRP | +30.83% | $1,536,107 | $5,423,807 |
Pepe Unchained | PEPU | +63.08% | $72,015,210 | $41,701,388 |
Super Trump Coin | STRUMP | +18.35% | $4,527,775 | $859,537 |
MileVerse | MVC | +36.15% | $21,559,051 | $48,509,918 |
The current cryptocurrency bull run is evidently moving in the favor of Bitcoin. The other coins are still waiting for the investors' interest in 2024. However, 2025 is going to be the year of altcoins, according to many experts.
Whether you should invest in Bitcoin or altcoins depends on various factors. Altcoins offer higher growth potential and diversification benefits compared to Bitcoin. However, Bitcoin's credibility, adoption, and limited supply make it an attractive choice for institutional investors.
If you are someone who prefers risk exposure and wants to benefit from the high volatility, altcoins are your thing. However, if you want to benefit from the high liquidity and balanced gains, you can invest in Bitcoin. It's always better to have a balanced investment portfolio that should include a mix of Bitcoin and altcoins to maximize growth potential and minimize risks.
Altcoins are hard to pick and come with increased inherent risk compared to more established cryptocurrencies like Bitcoin. However, if you pay close attention to careful evaluation of project fundamentals and technical indicators, you can benefit from their huge gains.
With the altcoin season not fully underway yet, this is probably the best time to invest and benefit from the promising altcoins that are well-positioned in the current market cycle.
Disclaimer: Investors should conduct their own due diligence, and consider their risk tolerance. Always remember that cryptocurrency investments carry the possibility of losing all your capital. Seeking advice from financial professionals or experienced investors can provide valuable insights to make more informed decisions.
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