Altseason 2024: Forget 10-50x! Unveiling the next altcoin gems

Altseason 2024: Forget 10-50x! Unveiling the next altcoin gems

Altseason 2024 is potentially the next big event of the year after Bitcoin Halving. Speculations are on the rise, with many stating that gains in this season could be bigger than those in 2021. While an estimate is hard to predict at the moment, inspiration keeps up with the drawn speculation from 2021.

In 2021, SOL and MATIC experienced a 300x increase. The community has identified listing on platforms like Coinbase and Binance as an interesting element. Also, a lot depends on the token’s market capitalization, which often follows the listed value.

CEX listings: Friend or Foe?

Coinbase and Binance are, without any hesitation, the leading players in the market when it comes to operating as an exchange platform. They have earned a reputation by boosting billions in liquidity and onboarding users in large numbers. A token that gets listed on either platform instantly gains access to millions of users across the globe, depending on its actual operations in those regions.

A lot depends on MC (market capital), but getting listed on exchange platforms fuels an upward trajectory by almost 3–10 times.

Benefits also span over the long run for the project, as having sufficient liquidity serves them well in development. The community is currently expecting new contenders for SOL and MATIC. Solana’s SOL is listed at $184.96, and Polygon’s MATIC is exchanging hands at $0.9906 at the time of articulating this piece.

Potential pump candidates in 2024

A total of eight candidates have been identified to get fueled up during the Altseason 2024. These are NGL, ALPH, NORMIE, CPOOL, BALLZ, IXS, DEGEN, and NMT.

Entablge’s NGL was last seen listed at $1.96 with a market cap of $232 million. It extracts valuation from facilitating data provision for smart contracts on different chains.

Alephium’s ALPH is dancing around $2.75 with a market cap of $203 million. The ecosystem is thriving on addressing the scalability, accessibility, and security challenges that many decentralized applications (dApps) encounter.

NORMIE falls into the meme sector of the industry. It is exchanging hands at $0.1237 with the MC of approximately $120 million. Base has positioned NORMIE as a meme token for normies, or new users.

The RWA token CPOOL comes with a market cap of $140 million on the list. Traded at $0.30, it appears poised for future growth. Native to Clearpool, it drives the function of offering customized single-borrower liquidity pools for institutional borrowers.

BALLZ is another entry in the market as a meme token; however, it features a lower value of $0.045. The market cap is listed at $45 million for the token that is inspired by bold wolf.

IXS, DEGEN, and NMT fall into three distinct categories: RWA, meme, and AI, respectively. NMT is an ideal choice, with the highest value of $6.96 per token. Its MC is at $240 million, while the same for IXS and DEGEN is $140 million and $211 million, respectively, in the same order. IXS is listed at $0.8425, and the meme token is listed at $0.01696.

Conclusion

Despite their attractiveness, one should only purchase tokens after conducting thorough research. While SOL and MATIC may not have been fortunate, the community undoubtedly strengthened them in subsequent phases. Every token does not break out. Hence, it is important to look for factors like the project roadmap, the authenticity of the team members, and community engagement. These are on top of the CEX listings.

Published at Fri, 29 Mar 2024 18:20:08 +0100

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