Ten years have passed since Bitcoin became popular. In this phase of growth and innovation, the excitement for AltSeason is sky-high among investors. With increased traction by altcoins and a fall in Bitcoin dominance, this is just about the right time to consider exploring options beyond the leading cryptocurrency. Discussed below are the top 4 altcoins that one may look forward to buying in this dip while anticipating AltSeason 2024.
- Ethereum (ETH): Ethereum is right behind the largest digital currency in terms of market capitalization, standing as one of the cornerstones of DeFi. The transition to Ethereum 2.0 and the implementation of EIP-1559, expected soon, may stir vast growth for Ethereum over the upcoming months. Indeed, developed flow of decentralized applications and smart contracts makes Ethereum a leader sought after by investors willing to benefit from high usability of the DeFi space.
- Solana (SOL): Solana is one of the contenders in the race for blockchain scalability with superfast transaction times and very low fees. The high-performance blockchain has gone ahead to attract a wide array of projects, including those dealing with decentralized finance, non-fungible tokens, and Web3 applications. With the launch of the Solana Season Hackathon and the upcoming Solana Conference, interest in Solana has reached a fever pitch, making this a compelling investment opportunity during this dip.
- Polygon (MATIC): Positioned as a top scaling solution on Ethereum, formerly named the Matic Network. Its layer 2 scaling solution scales Ethereum and reduces its transaction costs. Its overall developing ecosystem in terms of dApps, protocols, and strategic partnerships/integrations puts Polygon at the front end of the debate around Ethereum scaling. Recent events like the launch of Polygon Studios, and also preparations underway for the release of Polygon SDK V2, create perfect conditions for the upside breakthrough in MATIC’s position in AltSeason 2024.
- Cardano (ADA): Cardano is another big competitor in the race for blockchain scalability and interoperability. The new Proof of Stake consensus mechanism, combined with a solid smart contract platform, puts it as a serious competitor to Ethereum. When the highly anticipated Alonzo hard fork is released and smart contracts are fully activated on the Cardano blockchain, ADA is bound to attract developers and users alike, improving adoption and, consequently, its price appreciation.
While these altcoins are interesting, and with the prospects of a very good investment opportunity, it is nonetheless necessary to exercise caution in cryptocurrencies. Remember, an AltSeason is associated with high market volatility and uncertainty; hence, one has to ensure diversification of one’s portfolio to mitigate the associated risks.
In other words, AltSeason 2024 is a once-in-a-lifetime opportunity for investors who want to gear up on their altcoin exposure outside Bitcoin. Ethereum, Solana, Polygon, and Cardano are some of the top contenders in this dip. Each of them offers innovative solutions and vibrant ecosystems that create a good positioning for significant growth in the upcoming months. This might be viewed as an opportunity for investors to position themselves successfully for AltSeason 2024 and beyond by placing strategic funds in these promising altcoins.
