The post Altcoins Season Preparation: The Top 5 Altcoins That Will Likely Power the Next Bull Market appeared first on Coinpedia Fintech News
A bull market signifies a time of boom where tokens are expected to pump considerably. With market confidence at its peak, the weeks leading to the bull market are used to accumulate tokens that are set to rise. At the time of the dip, there is an opportunity to acquire top altcoins at relatively lower prices.
With events such as the Bitcoin halving and Ethereum Decun project all adding flavour to the crypto market, the proper bull run may come in the latter part of the year. To position yourself for the coming boom, here are the best altcoins to invest in with the necessary momentum to power the next bull market. Let’s take a look.
KangaMoon
The first in the altcoin list that is set to power the next bull market is KangaMoon. Its utility function has made it an attractive option for buyers. The token made its first foray into the altcoin market some months ago, quickly showcasing amazing progress and rubbing feathers with altcoin bigwigs. KangaMoon has uniquely crafted a platform that combines social interaction with a play-to-earn concept.
As a result, it creates a community of users who earn through gaming, speculation, and social tasks. To improve user engagement on the platform, KangaMoon has an underlying agreement with RaidSharksBot. This functionality has also attracted more users to the platform. Currently, the platform has more than 30k users and about 10k holders of its KANG token.
With many new altcoin projects springing up every day, KangaMoon has performed excellently, raising almost $7 million in presale funding, making it one of the best altcoins investors are exploring. KangaMoon’s ROI is also impressive. The current holders of KANG have made a massive 400% profit, with the price moving from $0.005 to $0.025.
With a good APY percentage, many holders are now opting to stake their assets using the KangaMoon staking dApp. With crypto data aggregator platforms such as Coinmarketcap and Coingecko picking up the token, KangaMoon is assured of a good showing in the next bull market. As the first KangaMoon listing is coming soon on the BitMart exchange, KANG is one of the top altcoins that could defy the odds in 2024.
Ethereum
Ethereum is the second most popular cryptocurrency and the pioneer father of altcoins. As a decentralized network where dApps and smart contracts are built, Ethereum has the largest market share in the altcoin market with a market cap that is going to $400 billion.
Although the network’s lack of pace and high gas fees have been criticized, Ethereum Layer 2 blockchains have made things easy with the likes of Polygon, Arbitrum, and Optimism providing faster transaction execution and lower gas fees. After its rise to $4k in March, the Ethereum price has experienced a significant decline. This has led to the token dropping below $3k.
Meanwhile, the Ethereum bulls have rebounded in the past few weeks as the altcoin price surged above $3k. However, the impending SEC rulings might change things. If the Ethereum ETF application is approved, buyers may expect a huge rise in the coming days. Otherwise, the token may experience a further dip. Considering how bullish the Ethereum trading volume has been in the past few days, the token may retest its oversold territory of $4k in 2024.
XRP
Built by Ripple Labs, XRP was launched in 2021 with a mandate to be the face of the decentralized economy. With its open-source and permissionless technology, XRP ensures three core functionalities, lower cost, speed, and scalability. With the vast ecosystem of XRP also including a decentralized exchange and custom tokenization, XRP is one of the top altcoins that are leaving an indelible mark on many traders.
Even though the platform has had to battle the SEC for most of the year, its native token has earned a slight 9% in the past year. XRP is also bolstering its adoption among crypto investors with its stablecoin. The new stablecoin will be transparent, enterprise-grade, and compliant first stablecoin, contributing to the global financial systems.
Even though there are fears that the recent dumping of the XRP token by some whales could contribute to a price fall, the XRP price has grown slightly in the past week. With XRP trading volume going close to $1 billion, the token may rally above $1 in Q2, making it one of the altcoins to buy for a good profit.
Fantom
Another altcoin that could power the next bull market is Fantom. As a layer 1 blockchain, the Fantom network provides DeFi services to a network of developers. While developers usually face congestion and lack of pace with the Ethereum blockchain, Fantom is a reliable alternative, combining lower gas fees with faster execution.
Fantom has evolved into one of the leading blockchains with its total value locked exceeding $10 billion in 2022. With more users adopting the Fantom blockchain, the network has recently branded a new technology called Sonia with a capacity to process 2000 transactions per second.
Regarding price, Fantom is sitting pretty well at the top of the table with a year-to-date increase of almost 150%. In the past month, Fantom’s price has surged by 30% with the price value set to climb $1. With Fantom’s market cap exceeding $2.5 billion, the token is one of the altcoins to watch out for in the next bull run. With more commitment to intuitive user experience, Fantom epitomizes the future of decentralization and could be one of the top 10 altcoins in a few years.
Litecoin
Litecoin could be described as a low-cost Bitcoin, leveraging the power of decentralized applications to create a fast and secure payment system. Launched in 2011, Litecoin has consistently performed and was once in the top 10 altcoin list. The Litecoin token has been on a strong footing since the start of the year. In the last few months, Litecoin’s price has moved by 17%, with the Litecoin market cap surging past $6 billion.
A good case for Litecoin to power the next bull market is that there have been many strong whale movements in the past weeks. From the available data from the IntoTheBlock website, Litecoin has a positive whale purchase of 2.7 million LTC tokens with a net inflow of $900k LTC coming into the whale addresses, representing the highest LTC purchase since February.
With this accumulation pointing towards a potential upswing, LTC is one of the best altcoins to invest in with a good chance of reaching $100 soon.
Conclusion
As the market moves towards the bull run, investors must understand the terrain of cryptocurrency trading. In this altcoin list, we have the tokens that are projected to surge in the next bull market. While there could be some bearish pullback along the line, these tokens have some of the strongest firepower to withstand the bearish sentiments and surge in the bull market.