Best Altcoins Of 2024: Ethereum vs. Solana vs. Newcomers?

There are over 295 million cryptocurrency users globally searching to lock in a better, beneficial deal. Bitcoin may still be dominating crypto, but there are loads of other coin options that can make you a boatload of money.

That’s why Investors are eagerly scouting the best altcoins to buy before the next crypto bull run. This year, the competition is heating up like never before.

Established players like Ethereum and Solana are constantly evolving. And new contenders are also joining the scene, each aiming to disrupt the cryptocurrency status quo.

But with so many altcoins vying for attention, where should you begin your search?

This article cuts through the noise and provides a roadmap to what are the best altcoins you must watch in 2024. Let's get started.

What Are Altcoins?

Altcoins (short for alternative coins) are all cryptocurrencies other than Bitcoin.

Call them as alternatives to Bitcoin that aim to address some of its perceived limitations.

While Bitcoin was the first and is still the most well-known, altcoins offer a variety of features and functionalities BTC lacks. There are thousands of altcoins out there, each with its unique characteristics.

Some focus on faster transaction speeds, lower fees, or specific use cases like smart contracts.

They're a work in progress with many altcoins still relatively new and evolving.

They have the potential for growth but also carry more risks compared to established players like Bitcoin. Now the main question is what are the best altcoins for the next bull run? Here are some coins that have the potential to grow.

10 Best Altcoins for This Bull Run!

Ethereum (ETH)

The list of best altcoins is incomplete without Ethereum, a coin with a market cap of over $362.2 billion USD. It is different from Bitcoin in many ways.

Ethereum’s main focus is on a modern feature called smart contracts. These self-executing agreements power a larger ecosystem of decentralized applications (dApps) across various sectors, from finance to gaming.

While Ethereum faces challenges with scalability and transaction fees, its established presence and vibrant developer community position it among the top contenders.

Avalanche (AVAX)

With a market cap of almost $13.2 billion, there are no second guesses about Avalanche.

Yes, Ethereum may be the leading smart contracts platform, but for how long?

Avalanche (AVAX) is a new blockchain platform designed for speed and efficiency.

It aims to become a leading player in decentralized applications and digital assets.

This blockchain has the potential to make a more scalable platform for decentralized applications (dApps).

Solana (SOL)

Developers are seeking an alternative to Ethereum's current limitations and guess what? They might’ve found a worthy option.

Launched in 2020 with a market cap of over $66.1 billion, Solana (SOL) is a young blockchain platform aiming to address this very concern.

It boasts lightning-fast processing speeds and scalability, which not only makes it a prime candidate for decentralized finance (DeFi) applications but also a top choice of smart contracts.

Solana's innovative architecture offers a glimpse into the future of high-throughput blockchains.

However, its long-term stability remains to be seen.

Cardano (ADA)

Cardano (ADA) isn't your typical "get rich quick" altcoin. Founded in 2015, this project takes a measured approach and prioritizes academic research and peer-reviewed development.

With a market cap of $15.8 billion, Cardano utilizes a proof-of-stake consensus mechanism, known for its energy efficiency and scalability.

Plus, with a focus on building a secure and sustainable blockchain platform, Cardano is attracting developers looking to create the next generation of decentralized applications.

Polkadot (DOT)

This 2016-developed altcoin is building this very future. Polkadot’s unique ecosystem allows developers to create custom blockchains that connect to the main Polkadot network.

This encourages innovation and interoperability with a potential to lead to a more robust and interconnected blockchain landscape.

Watch out, because Polkadot's ability to break down silos between blockchains makes it a fascinating project in the coming years.

BNB

Nobody was sure about BNB when it was just an idea before 2017. This tradable asset of Binance has made some crazy noise around the industry.

BNB fuels the Binance ecosystem, and offers users discounted trading fees and a host of other perks. But BNB's influence extends beyond the exchange walls.

As Binance continues to expand its reach, BNB's role in the crypto is likely to grow as well.

It’s an altcoin nobody should sleep on.

Dogecoin (DOGE)

The list of best altcoins is incomplete if Doge coin is not in it. It all started with a popular dog-themed meme in 2013 and was successful in amassing a passionate community.

Plus, a surprisingly high market cap of around $21 billion. All thanks to none other than the tech giant, Elon Musk.

Mr.Musk made DOGE one of the top altcoins in the market with just a tweet where he called it his favorite cryptocurrency.

While DOGE lacks the strong functionalities of other altcoins, its sheer popularity and unpredictable price swings make it a fascinating altcoin.

However, DOGE's success is largely driven by hype and social media trends, so extensive research is always recommended before considering any investment.

Shiba Inu (SHIB)

If you thought Dogecoin was the only dog-themed crypto with potential in town, think again.

Shiba Inu (SHIB) emerged as a rival meme coin to Dogecoin, inspired by the same Shiba Inu dog meme.

SHIB has a market cap of over $13.4 billion and shares many similarities with DOGE.

The main ones being a high volatility and a strong community presence.

However, its future remains a mystery, and similar to DOGE, significant research is always appreciated before considering any involvement.

Toncoin (TON)

Remember Telegram, the popular encrypted messaging app?

Toncoin (TON) or ‘Telegram Open Network’ is the brainchild of Telegram and a Layer-1 Blockchain.

Since the launch in 2018, TON has shown impressive processing times and a focus on user-friendly applications.

With Telegram's existing user base, Toncoin has the potential for significant adoption. However, it's still a relatively new project, so keeping an eye on its development is key.

XRP (XRP)

Yes, Bitcoin is the biggest in the game but is not optimized if we talk about money transfers.

In 2012 XRP or Ripple Labs was built for speed and affordability.

Before XRP, sending money internationally was equivalent to welcoming anxiety.

But since its launch, with a market cap of about $29.0 billion, sending money has become as easy as sending an email.

XRP can be easily converted to other currencies and acts as a middle ground for exchanging different currencies without needing direct conversions between them.

This open-source technology is also known for being greener (using less energy for mining) than other competing cryptocurrencies.

The Basics Of Investing

Investing in the best altcoins might sound cool and all but it might not go as planned.

Before you find yourself dumbfounded, here are some of the most important things to keep in mind.

• Don't chase trends. Remember those neon sneakers everyone had? Same idea. Even the best altcoins can be hot one minute, but remember, the next minute they can lose their value just as quickly.

• Do your research, and understand the technology and the project's purpose. Don't blindly follow the crowd or invest based solely on the hype.

• Be prepared for price swings. Only invest what you can afford to lose, because this market will test you. The crypto market isn't like a casino where you throw money at a slot machine.

Altcoins take time to develop and reach their potential. Invest for the long haul, believe in the project's story, and don't expect overnight glory.

The Final Verdict!

Altcoins are HUGE and BOOMING, with options for everyone from established players to newbies. The above-mentioned are cryptos that could explode (possibly).

But remember, don't jump in blind! Do your homework, understand the risks, and be prepared for the ride. Having external help is always a +1.

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