Top Altcoins That Could Join The Bull Run This Year

Last week, on March 14, 2024, Bitcoin set a new record of $73,750, with a market capitalization reaching $1.44 trillion. Investors and traders are very excited to invest in Bitcoin in this upward trend. Apart from Bitcoin, there are also some promising altcoins that are giving good returns on investment this year.

What are Altcoins:

Altcoins are all those coins apart from Bitcoin. There are various types of altcoins like Utility Tokens, Security Tokens, Stablecoins, Meme coins and more. There are more and more altcoins appearing in the cryptocurrency markets quickly. They can go up and down in value very quickly.

Also Read: Top White Label Crypto Broker Platform to Watch in 2024

Types of Altcoins:

Utility Tokens:

Utility tokens are one type of altcoins whose main functionality is to access products, services of an organization and promote its own products through rewards and other facilities. Investors can raise funds for their projects using altcoins. Users of these tokens can benefit if the price rises. They can sell their utility coin or hold it as an investment. Utility tokens can be traded on crypto exchanges but always research before buy or invest on Utility tokens.

Stablecoins:

A stablecoin is a type of altcoin where the value of the cryptocurrency is controlled by fiat currency, exchange-traded commodities, or another digital asset.

Meme Coins:

Meme coins are created for Joke, entertainment, fun in social media platforms purpose. But it gains popular in recent time. Meme coin the term itself speak for itself. These types of coins named after fun characters, joke, animals, art work those can be made fun of. This type coins generally have huge supply. online traders, gamers, social media enthusiast but trade it for fun purpose. But this type of altcoins are highly volatile and huge risk involves buy/ trading meme coins.

Security Tokens:

A security token is like a special key that helps ensure only the right person can access certain places or use specific computers. It can be a small device you hold or a card you carry. This key contains secret information about you that the system checks to confirm your identity. It can be used instead of or alongside regular passwords. Users can utilize this token as a password to access electronic devices such as laptops, computers, and mobile phones. Additionally, it can serve as a secret code for electronic lockers and building entrances. Users can even use them to sign things electronically, similar to signing their name on paper.

Governance Token:

A governance token is like a special coin in the digital world that gives people the power to help make decisions about how things work. Built on the blockchain network, these tokens enable users to vote or participate in the decision-making process.

Here are the Top Altcoins to Watch out in 2024:

1. ETH (Etherium) –

Ethereum is a decentralized open-source blockchain network. This open-source blockchain network has its own cryptocurrency, called ETH. ETH is used as a base for many other digital currencies, and it’s also used for making smart contracts that don’t need a central authority to control them. Ethereum was created by Vitalik Buterin in 2013. After Bitcoin, Ethereum is the second most popular cryptocurrency, with a total market cap of $412.8 billion. The current price of ETH is $3,432.83.

2. BNB (Binance Coin) –

BNB is one of the most popular Altcoin coins launched by Binance in 2017. Its main use cases are payment of goods and services in the Binance network. Apart from it is is also used decentralized payment, travel and entertainment areas. Current BNB price is $568.54 with a marketcap of $84,833,289,044.

3. Chainlink ($LINK) –

Chainlink (LINK) is a altcoins and technological platform designed to facilitate secure connections between non-blockchain enterprises and blockchain platforms. Chainlink was founded by Sergey Nazarov in 2017. Current price of Chainlink is $17.98 with a marketcap of $10,553,390,937.

‍4. MATIC (Polygon) –

Polygon is a blockchain platform with the goal of establishing a multi-chain blockchain system that is reconcilable with Ethereum. Use cases: Payment of gas fees, voting on Polygon Improvement Proposals, gas fees payment, and contribution to security leveraging staking. Current price of MATIC is $0.9837 with a marketcap of $9,744,676,050.

5. Basic Attention Token (BAT) –

BAT ia a utility token that is used for blockchain based digital advertising platform. This token allows users to earn significant rewards using or even watching ads on the Brave web browser. BAT was launched in 2017, its ICO had a record of fastest sell of all time. They raised $35m just under 1 minute. This Utility token available on many leading crypto exchanges like Binance, Coinbase, Crypto.com and more. Current price of BAT is $0.2952 with a marketcap of $440,147,661.

6. Tether (USDt):

USDt is the most famous and most popular stablecoin backed by U.S. Dollar. This stablecoin act as USD in the crypto industry. Launched in 2014 the main purpose of USDt was to facilitate the digital use of fiat currency using blockchain technology. Current of USDt is $1.00 same as US Dollar with a market cap of $104.07B.

7. Dogecoin (DOGE):

Dogecoin is one of the most popular Meme coins created by Billy Markus from Portland, Oregon and Jackson Palmer from Sydney, Australia in 2013. Dogecoin creators wanted it to be a fun and playful type of digital money that would be liked by more than just Bitcoin fans. This is because it started from a funny dog picture. Elon Musk, the boss of Tesla, shared many tweets saying Dogecoin is his favorite cryptocurrency. The current price of DOGE is $0.1565 with a market cap of $22.46B.

8. SHIBA INU (SHIB):

SHIB is a type of money that isn’t controlled by any one person or group. It’s owned by lots of people worldwide. It started in late 2020 and has become really popular. You can use it to buy things in many places, either directly or through other companies. After SHIB launched it became very popular and has millions of users across the globe. Current price of SHIB is $0.00002709 with a marketcap of $15.97B.

9. Cardano (ADA):

Cardano is a proof-of-stake blockchain platform launched in 2017. It aims to enable ‘changemakers, innovators, and visionaries’ to create positive global change. Holders of this altcoin can participate in voting to propose any changes to its own software. Cardano was named after the 16th-century Italian polymath Gerolamo Cardano. The current price of ADA is $0.6223, with a market cap of $22,134,872,118.

10. Solana (SOL):

Solana is an open-source project based on blockchain technology launched in 2020. Solana was created to facilitate the creation of decentralized apps (DApps). This altcoin can be traded on all the major crypto exchanges like Binance, Coinbase, Bilaxy, Huobi Global, and more. Solana experienced a huge price hike this month. Its current price is $173.55 with a market cap of $77,069,448,586.