Beginning of the year pleased all of the crypto traders with rising price of Bitcoin. In expectation of approval of a spot Bitcoin (BTC) ETF, the rate of the first cryptocurrency soared to $45,5 thousand per coin. Last time Bitcoin was worth $45 in April, 2022. But Bitcoin isn’t the only one who went up, the rate of some assets also jumped. Despite the fact Bitcoin is the pivot of the crypto industry, a vital role of shaping belongs to altcoins.
In this article we’ll take a look at some of them!
Solana (SOL): is the Real Top Altcoin?
January is a winning month for Solana once again. Analyzing data from CryptoRank, it reveals that SOL experienced significant gains of 140.2% and 182% in 2021 and 2023. This year isn’t an exclusion, the price went up to $114.9 (by 11.79%). Of course, recent airdrops top the Solana blockchain, especially that of the Bonk memecoin, are hugely responsible for the surge in its daily active addresses and price. But the main question is if the bullish trend in Solana coin price can end the year on a high note? According to the prediction by DigitalCoinPrice, we could see that Solana’s high price may reach $223.04. At the same time, AMB Crypto expresses their opinion:
“Solana’s price for 2024 according to our analysis should range between $69.53 to $104.30 and the average price of SOL should be around $86.92.”.
But not all the prognoses are that good. WalletInvestor truly believes Solana’s price down to $70.92 in a year.
TradingView Source: WhiteBIT SOL Chart
In 2023, Solana experienced significant developments and achievements, making it a year of growth for the Solana community. Here’s some of them:
- Community-led resurgence: Bonk (BONK) became the so-called symbol of rebirth of Solana’s ecosystem by the community. That is not to mention Solana Mobile’s Saga, despite excitement around the initial announcement and launch, it wasn’t sold until excitement from the community exploded.
- State compression and innovation: The Solana ecosystem utilized state compression, leading to “Cambrian Explosion for Digital Assets”. Additionally, Solana labs introduced a plugin that let AI interact with Solana blockchain. It’s allowing developers to create useful tools that bring the power of blockchain and AI together.
- Large enterprises exploring and collaborations: Solana Foundation in collaboration with Mastercard worked on tools to help secure transactions; Google Cloud integrated Solana on-chain data into BigQuery; Amazon Web Services announced their support for Solana network nodes.
Celestia (TIA): is it really better than Solana?
Celestia is a modular data availability (DA) network that securely scales with the number of users, making it easy for anyone to launch their own blockchain. However, although TIA was released in November, 2023, it has already become a big shot. Today’s price of Celestia is $16.39, but many analysts believe Celestia has the potential to reach great heights in the future. For example, CoinCodex commented:
“Celestia is forecasted to trade within a range of $ 14.86 and $ 19.88. If it reaches the upper price target, TIA could increase by 21.22% and reach $ 19.88.”.
DigitalCoinPrice has more optimistics thoughts and predicts TIA could reach $36.60. However, we can only wait for the end of the year to see who was right.
WBT: Is WhiteBIT Coin a New Pump?
WhiteBIT Coin is a native coin of one of the largest European cryptocurrency exchanges. It plays a crucial role in the ecosystem, serving as a medium of exchange, encouraging network participants and facilitating various transactions and actions.
WBT holders can access a wide range of benefits and privileges in the WhiteBIT Ecosystem, such as:
- Increased referral rate
- Free AML checks
- Free ERC20 withdrawal
- Discount on trading fees
- Staking rewards
- Lowered trading commission
The constant price of WBT was $5.6 for the longest time. Although recently WBT has incurred a growth of 8.63% over the prior 30-day duration. Based on CoinDataFlow forecast WBT is anticipated to fluctuate within the range of $4.66 and $12.34. Currently Altcoin’s price is $6.07, but crypto analysts reveal they’re expecting increasing WBT price by 12,5% over the next month.
On another note, WhiteBIT regularly conducts listings of new popular coins. You can apply on this page and then the account manager will advise you on your cryptocurrency listing. The company also offers the trading competition for traders of various levels of experience to participate in and demonstrate their trading skills. It’s a huge opportunity to win cryptocurrency by competing against other traders. The winner can be selected based on the total volume of traders for the target pair, rP&L, or two of these indicators, but rP&L will be more important. WhiteBIT shares updates and announcements about new competitions on their social media, such as X or Telegram Channel.
Fetch. Ai (FET): What Can We Expect from AI Coins?
Fetch.ai is blockchain-based AI platform that aims to automate certain tasks and systems, such as a supply chain logistics or recordkeeping, for individuals or organizations. Popular crypto analyst Altcoin Sherpa told on social media X that Fetch.ai will benefit from a bullish narrative. He believes that a dip in FET down to $0.50 would give bulls a buying opportunity. Today’s price of FET is $0.71. However, DigitalCoinPrice predicts pump to $1.56 in February and stability of the price till the end of the year.
Fetch.ai offers several benefits due to its unique combination of technologies like DAG DLT, smart contracts, AI, and machine learning. Some of the benefits of using Fetch.ai are:
- Decentralized digital economy: Users can create agents that act on behalf of individuals, organizations, devices, and services.
- AI-enabled use cases: Users can create, deploy, and train agents for various purposes, and develop a digital decentralized economy that grows and develops with the network.
- Democratized access to AI technology: Fetch.ai democratizes access to AI technology with a permissionless network upon which anyone can connect and access secure datasets by using autonomous AI to
- Collective learning: The Fetch.AI collective learning module is a tool that enables distributed parties to work together utilizing blockchain technology and AI learning capabilities
Avalanche (AVAX): What to Expect?
Avalanche is a decentralized smart contract platform with the aim of being incredibly fast, affordable, and eco-friendly. Recently the price of Altcoin went up to $43.11, increasing by 11,74% compared to the previous week. Even though the weekly chart of AVAX for previous year oscillates between bullish and bearish forces, crypto experts expect the maximum AVAX rate will be around $68.9 till December. But that’s not the highest price predicted by experts, CoinPrice Forecast revealed their thoughts and it’s telling us that Avalanche price will hit $250 by the end of 2024. That’s all very inspiring, until we’re moving to AMBCrypto and see “the average price of AVAX should be around $35.74.”. There’s a lot of different opinions and only time will show us who was the right one.
CryptoRank Source: Avalanche Monthly Returns (USD)
Overall, Avalanche has shown huge growth and potential in 2023.
Let’s highlight some of them:
- Avalanche Foundation launched Avassaince, an initiative that supports digital artists and drives the growth of the Avalanche NFT ecosystem.
- Avalanche ended the year by hitting records in their monthly active users, which hit 1.3 millions users.And also the network recorded all-time high validator numbers, which hit 1,708.
- Avalanche has become one of the alternatives to Ethereum that gained the interest of crypto investors, as it offers faster transactions and lower costs.
It’s up to you to decide who you believe, but in my opinion, holding these cryptocurrencies on your cold wallets is an excellent security method.
All of these altcoins are contained in my portfolio and I’m frequently trading them.
Disclaimer* But still always remember to do your own research, trust verified information and stay safe.
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