Historically, altcoins have tended to be at a disadvantage and surge in value after market corrections. This article examines the altcoins that could rise during this market decline: Polkadot (DOT), Hedera (HBAR), Aptos (APT), and Cardano (ADA).
Polkadot (DOT)
Polkadot (DOT), a highly successful blockchain interoperability protocol designed to make it easier for chains to share data. As more and more people want to communicate across different chains, the ecosystem around Polkadot will continue to grow. As a result, DOT should be one of the first choices for anyone researching altcoins.
On the YTD chart, the price of DOT increased from $5.71 to $6.57. During this period, the Polkadot market cap also jumped from $6.75B to $9.45B. Moreover, over five technical indicators show bullish signals for the Polkadot coin. Therefore, this altcoin is predicted to surge to $8.68 by the second quarter of 2024.
Ivy (HBAR)
Next, we have to mention Hedera (HBAR), an altcoin that has shown resilience during multiple market declines. It is a decentralized public network that allows individuals and businesses to create high-performance dApps. Due to this utility, many traders are gravitating towards Ivy Coin.
Over the past 30 days, Hedera price has fluctuated between 0.07 and 0.17, and its market cap has fluctuated between 3.64B and 3.48B. Moreover, the technical analysis of Hedera coin shows bullish signs with 17 indicators flashing green. Therefore, this altcoin is expected to reach a price of $0.18 before the end of the second quarter of 2024.
Aptos (APT)
Aptos (APT) is another top altcoin right now. The project is an L1 blockchain that focuses on scalability and reliability. If DeFi continues to grow and become more mature, the ecosystem around Aptos could explode, which would cause the value of APT to rise.
The price of APT has fluctuated between $17 and $8.60 in the past 30 days. During this period, Aptos trading volume has surged by 25% and currently stands at $225 million. As the price of Aptos token is above the 50-day MA, it remains bullish. It is predicted that Aptos may rise to $11.61 by the second quarter of 2024.
Cardano (ADA)
Finally, Cardano (ADA) is one of the altcoins to watch during this market drop. Cardano is a third-generation blockchain platform that aims to solve the scalability, interoperability, and sustainability issues of first-generation blockchains. As people build more projects on top of Cardano, the demand for this altcoin is likely to increase.
Over the past 12 months, the price of Cardano has jumped from $0.39 to $0.43. Moreover, the Cardano market cap has increased from $13B to $15.69B in that time. Moreover, five technical indicators show intervention signals for this altcoin. Therefore, market analysts predict that $0.58 is expected before the end of the second quarter of 2024.
(Personal opinion, not a recommendation)
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