Altcoin season is coming, and investors are looking to invest in the best altcoins to gain good returns in the upcoming bull rally. Let’s analyze 3 top altcoins that could perform well in 2024.
In the world of cryptocurrency, traders are always looking for the next big opportunity. With Bitcoin (BTC) facing challenges, attention is shifting towards alternative cryptocurrencies or ‘altcoins’.
Today, we will explore the top 3 alternative cryptocurrencies that have the potential to yield significant returns for investors in 2024: Injective (INJ), Polkadot (DOT), and Ondo (ONDO). Let’s delve into the specifics of each one.
Injective (INJ)
The Injective blockchain is tailored for financial applications and has integrations with Solana and Cosmos. Injective is aiming to develop a layer-three Arbitrum chain to improve its infrastructure and interoperability.
The price of the Injective crypto (INJ) is currently in a bearish phase, showing consistent bearish movements in recent trading sessions. Additionally, the cryptocurrency is facing challenges in maintaining its position above important moving average levels and is trending downward.
Over the last three months, crypto has experienced a decline of over 28%, highlighting the prevailing bearish sentiment in recent sessions.
The bearish trend for the Injective price persists as long as it remains below significant EMA levels. However, this also indicates that the price seems to be oversold, and a corrective rally from the lower levels could be imminent as buyers show activity at these levels.
As of the latest update, the Injective crypto (INJ) price was recorded at $24.44, reflecting a 4.31% gain for the day while still presenting a bearish outlook on the charts. The cryptocurrency holds a market capitalization of $2,282,797,024 Million.
Polkadot (DOT)
Polkadot stands out from other blockchains due to its innovative approach and compliance with SEC regulations. The Web3 Foundation’s classification of DOT as not secure paves the way for institutional adoption.
Despite experiencing an 87.4% decrease from its peak, Polkadot’s forward-thinking technology and regulatory compliance suggest the possibility of a resurgence and expansion.
Polkadot, known as a “blockchain of blockchains,” has experienced a 19.4% decrease in value over the past 24 hours as of the time of writing, indicating reduced trading activity in the cryptocurrency.
Market cap has remained steady over the last 24 hours. It has marginally increased by 1.95%, bringing its market cap value to $10.231 Billion, positioning it as the 14th largest cryptocurrency.
Additionally, Polkadot has an infinite maximum supply, with a circulating supply of 1.437 billion DOT, resulting in a fully diluted market cap of $10.244 Billion.
ONDO (ONDO)
Ondo Finance provides a high-quality financial platform supported by prominent investors such as Founders Fund, Pantera Capital, and Coinbase. Blockchain technology enables users to generate yields on US Treasuries and the US dollar.
Ondo recently unveiled Global Markets, a new platform designed to facilitate the migration of all publicly traded securities onto the blockchain with seamless access to traditional securities exchange liquidity.
At press, the Ondo crypto is trading at $0.9404 with an intraday surge of 9.47% with a market cap of $1,306,576,183. Moreover, the market cap has increased by 9.35%, and the volume has increased by 12.30%, demonstrating that buyers are back in the crypto.
Ondo crypto price is close to surpassing the $1 mark. If buyers support the ONDO price, it could reach the upper levels shortly.
Disclaimer
The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in crypto involves risk. Please assess your situation and risk tolerance before making any investment decisions.
