The year 2023 was marked by a bearish trend in the cryptocurrency market, with prices remaining low for most of the year. However, the last quarter saw a significant turnaround, with crypto prices soaring high, setting the stage for what many believe will be a bullish 2024. Which altcoins to buy now that the year 2023 is coming to an end?
Why Altcoins Will Soar in 2024
The upcoming year is anticipated to be a pivotal one for cryptocurrencies, particularly altcoins. A key factor contributing to this expectation is the Bitcoin halving event scheduled for 2024. Historically, Bitcoin halving, which reduces the reward for mining new blocks, has led to increased prices in the cryptocurrency market. The years 2022 and 2023 served as adjustment periods, laying the groundwork for a potential bull run in 2024. This adjustment has set the stage for altcoins to potentially experience significant growth.
Top 5 Altcoins to Buy before 2024
Here are the top 5 altcoins that are showing promise for the upcoming bull run in 2024:
1. XRP (Ripple)
- What It Does: XRP is the digital asset of the Ripple network, known for its rapid and cost-effective cross-border payment solutions. It aims to facilitate instant global transactions.
- Price Analysis: XRP’s current price is around $0.63, with a market cap of approximately $34.24 billion. Over the last 7 days, it has seen a change of about 1.82%, and over the past 30 days, it has experienced a growth of around 3.46%.
2. ADA (Cardano)
- What It Does: Cardano is a blockchain platform designed for sustainable and scalable applications and solutions. It’s recognized for its scientific approach and emphasis on security and sustainability.
- Price Analysis: ADA is currently priced at about $0.62, with a market cap of roughly $21.98 billion. In the last 7 days, ADA has changed by approximately 0.49%, and over the last 30 days, it has surged by about 60.94%.
3. MATIC (Polygon)
- What It Does: Polygon is a protocol and framework for building and connecting Ethereum-compatible blockchain networks. It aims to address scalability issues on the Ethereum network.
- Price Analysis: MATIC’s current price stands at around $0.999, with a market cap of about $9.55 billion. It has seen a 7-day performance change of 24.83% and a 30-day performance increase of 32.80%.
4. XLM (Stellar)
- What It Does: Stellar is an open-source network for currencies and payments. It’s designed to connect financial systems and provide low-cost financial services to fight poverty and maximize individual potential.
- Price Analysis: XLM is currently trading at approximately $0.132, with a market cap of $3.72 billion. Over the past 7 days, it has seen a change of 6.72%, and over 30 days, it has increased by 11.20%.
5. Shiba Inu (SHIB)
- What It Does: Initially started as a meme coin, Shiba Inu has evolved into a comprehensive ecosystem with its own decentralized exchange, ShibaSwap. It’s known for its vibrant community and innovative projects.
- Price Analysis: SHIB’s current price is around $0.00001061, with a market cap of approximately $6.25 billion. In the last 7 days, it has changed by 1.37%, and over the last 30 days, it has grown by 27.89%.
Where to Buy Altcoins?
When it comes to purchasing altcoins, selecting the right exchange is crucial. Bitget stands out as a highly recommended platform for this purpose. One of the key advantages of using Bitget is its competitive fee structure, which is among the lowest in the industry. This feature is particularly beneficial for traders who are looking to maximize their investments without incurring high transaction costs. Additionally, Bitget’s robust security measures and a wide range of available altcoins make it an ideal choice for those looking to diversify their cryptocurrency portfolio.
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