💰Ethereum's Potential Competitors: Top 5 Altcoins Poised for Dominance in 2024
1️⃣Ripple (XRP): Basel Committee on Banking Supervision, established Ripple as the third largest altcoin based on disclosed commitments amounting to 2% of total exposure of €9.4B. Estimating a climb to $1.14 within the second quarter of 2024. (Yahoo finance)
2️⃣Everlodge (ELDG): Currently, it is only worth $0.025 in Stage 7 of its presale- an increase by 150% in comparison to its initial price. However, due to its real-life use cases and future technology, analysts are predicting ELDG value to rise about 30x on the day it launches. (Yahoo finance)
3️⃣Solana (SOL-USD): Solana is evolving as the “Visa for digital assest“ with institutional adoption and scalability advantages. Ranked in the top 10 by market cap, Solana holds less than 1% market share. Despite its performance in 2023, its technicals present an appealing case. Overcoming the $27 resistance could trigger substantial upside potential, targeting $32.40 and potentially $40-plus gains in 2023. (Nasdaq)
4️⃣Avalanche (AVAX-USD): In week 2 November, AVAX witnessed a notable price surge of 23.68% of its price. This upward movement coincided with the announcement from JPMorgan (NYSE: JPM), the investment banking giant, unveiling a collaborative initiative between its blockchain division Onyx and Apollo Global to introduce a proof-of-concept leveraging the Avalanche blockchain. (Cryptonew.net)
5️⃣Polygon (MATIC): Positioning itself as a practical remedy to address the high transaction fees on other blockchains, Polygon (MATIC) stands out as a Layer 2 scaling platform known for its rapid transaction processing. Its significance is poised to expand further as an increasing number of developers opt to build their projects on the platform. On November 15 2023, Polygon’s Proof of Stake (PoS) system processed 6.17 million transactions. (Cryptonew.net)
‼️This is not investment advice, just a prediction based on the current market situation. Still, you should manage risks carefully.
