The Top 10 Altcoins to Watch In 2024

The cryptocurrency market in 2024 has been a wild ride so far. Bitcoin hit its all-time high and then plummeted to record lows almost immediately, every other token seems to be riding on to crazy highs. It definitely cannot have been scripted. Most of all, investors are presented with opportunities for both short-term gains and long-term investments. 

This article highlights the top 10 altcoins (cryptos that are not Bitcoin and Ethereum, ICYMI) based on market performance. We’ll explore short-term opportunities to capitalize on current market trends and long-term prospects for sustained growth and stability.

TL; DR, this is our list:

• Polkadot (DOT)
• Avalanche (AVAX)
• Toncoin (TON)
• Uniswap (UNI)
• Polygon (MATIC)
• Chainlink (LINK)
• Cardano (ADA)
• Dogecoin (DOGE)
• Ripple (XRP)
• Solana (SOL)

Before we go any further; here’s a caveat: The prices and market data of tokens mentioned in this article are subject to rapid changes and may not be stable. Investors are advised to conduct their own research and consider market volatility before making any investment decisions. This information does not constitute financial advice.

10.  DOT (Polkadot)

• Current Price: $6.40

• Market Cap: $9.2 billion

• Circulating Supply: 1.44B DOT

• Max Supply: N/A

• Vol (24H): $227.48 million

Polkadot’s native token, DOT, had a stable beginning to 2024, with minor fluctuations in January. However, the price saw a solid upward trend in February 2024, initially showing steady growth before surging by 21.82% on February 20. 

This spike was driven by news that the Polkadot ecosystem was launching new parachain auctions. It significantly boosts investor confidence and pushes DOT price from $6.6557 on February 1 to $8.1081 on February 20, marking its highest level since December 2023.

However, after reaching this peak, DOT entered a bullish phase, rising from over $8.1081 to $10.8863 on March 16, 2024. After reaching this peak, the DOT value has been bearish, declining over 35.82% to $6.9871 on June 1, 2024. Since June 2024, DOT has experienced a strong recovery, reaching $7.2796 on June 6 and trading just below $6.5344.

9.  Avalanche (AVAX)

• Current Price: $32.32
• Market Cap: $12.5 billion
• Circulating Supply: 393,277,033 AVAX
• Max Supply: 715,748,719 AVAX
• Vol (24H): $337,822,874

Avalanche supports scalable, interoperable blockchain networks with low fees and quick confirmation times, appealing to developers and users. Its focus on innovation, security, and broad adoption makes its native token, AVAX,  a top altcoin to watch in 2024.

In 2023, Avalanche’s AVAX price experienced moderate volatility, with occasional rebounds failing to sustain long-term momentum. However, in early 2024, AVAX showed promising signs of recovery, testing the critical $40 threshold twice and briefly reaching $35, indicating a potential breakout.

The coin’s bullish momentum continued, surpassing the $60 mark in March, but declined 39.9% to $36.06 in June 2024. The Avalanche price is $32.59, slightly below the price at the start of June. The psychological level at $30 could serve as critical support for Avalanche’s price, establishing a pivotal support zone for the altcoin.

8.  Toncoin (TON)

• Current Price: $7.10
• Market Cap: $17.2 billion
• Circulating Supply: 2,431,770,634 TON
• Max Supply: N/A
• Vol (24H): $245,658,962
• Founder: Anatoliy Makosov, Kirill Emelianenko

TON price has shown a bullish trend in 2024, experiencing a significant surge. The coin price rose % from $2.3104 on January 1 to $7.2291 in April 2024. However, like many altcoins, it has also faced market corrections and dropped to $6.2697 in June.

TON’s price shows signs of recovery, trading at $7.1108, above key moving averages and indicating positive market sentiment. Toncoin’s price movements are closely watched by investors, with critical levels of support and resistance playing a crucial role in its future performance. As the market evolves, Toncoin’s innovative solutions and strong performance position it as a noteworthy altcoin to watch in 2024.

7.  Uniswap (UNI)

• Current Price: $9.73
• Market Cap: $5.8 billion
• Circulating Supply: 599,957,295 UNI
• Max Supply: N/A
• Vol (24H): $321,710,861

Uniswap’s UNI prices had a quiet start in 2024, dipping slightly in January but rebounding strongly in February, surging nearly 70% in a single day on February 23. This spike was fueled by reports of a proposed fee rewards program by the Uniswap DAO, pushing UNI’s price to $12, its highest in two years. However, it fell into a bearish phase, dropping to under $7 before recovering since mid-May, now trading just below $11.

After breaking a two-and-a-half-month downtrend, UNI’s price is above its 50-day and 200-day EMAs. If it surpasses the $11.5 R1 Fibonacci level, a rally toward $14.6 and $15 is possible.

6.  Polygon (MATIC)

• Current Price: $0.62
• Market Cap: $6.15 billion
• Circulating Supply: 9.89 billion MATIC
• Max Supply: N/A
• Vol (24H): $356,566,292

In 2023, Polygon’s MATIC price remained subdued compared to its peers. However, in early 2024, it showed signs of resurgence, reaching $1.2 before correcting by over 47% since mid-March. Currently, MATIC is at $0.7, aiming to surpass $1 for bullish momentum, which is above the R3 Fibonacci pivot.

A death cross formed on April 25 between the 50-day and 200-day EMAs, potentially increasing selling pressure. Moving forward, $0.5 is a critical support level for the Polygon price.

5.  Chainlink (LINK)

• Current Price: $15.36
• Market Cap: $8.9 billion
• Circulating Supply: 587,099,970 LINK
• Max Supply: N/A
• Vol (24H): $401,012,207
• Founder: Sergey Nazarov, Steve Ellis

Amid Bitcoin’s market influence, LINK price surged 44% in 2024, briefly surpassing $20. Facing a downturn since mid-March, it fell below $20 and then $15 thresholds. 

It’s currently around $18, showing positive signs, rebounding from below the 50-day- and 200-day EMAs with a bullish crossover. Hovering near the June 2024 Fibonacci pivot point’s R1 level at $19.2, a breakout could lead to $21 and $23.5 targets.

4.  Cardano (ADA)

• Current Price: $0.42
• Market Cap: $15.24 billion
• Circulating Supply: 35.7 billion ADA
• Max Supply: 45 billion
• Vol (24H): $466,250,707

During the Bitcoin price rally earlier in the year, Cardano’s ADA saw a modest recovery from the low points it had been since the previous year. From November to December 2023, ADA surged from below $0.30 to nearly $0.67. In March 2024, it briefly surpassed $0.70 before retracing.

ADA’s price movement could have more surprises in stock because of the recent activity its blockchain. The recent release of the Hydra Layer-2 solution enhances Cardano’s scalability and throughput, enabling more transactions per second. Hydra allows fast, secure off-chain transactions on Cardano’s leading blockchain, addressing scalability limitations. This milestone demonstrates Cardano’s commitment to innovation, positioning it to support more decentralized applications and use cases that benefit developers and users within the ecosystem.

3.  Dogecoin (DOGE)

• Current Price: $0.14
• Market Cap: $20.33 billion
• Circulating Supply: 144.6 billion DOGE
• Max Supply: N/A
• Vol (24H): $1.07 billion

Dogecoin, the largest memecoin by market cap, is third on top altcoins in 2024. Amid the crypto market’s sideways trend, Dogecoin’s price dropped over 42% in April but saw a slight recovery in May. Now trading at the 50-day EMA and supported by the 200-day EMA, it risks forming a bearish death cross.

The 200-day EMA and S1 Fibonacci pivot point offer crucial support; falling below this could push DOGE to $0.1. To reverse the trend, DOGE must surpass the R1 Fibonacci pivot at $0.172 and the psychological barrier at $0.2. Hitting $0.2 early in June could lead to targets of $0.3 by the month’s end.

2.  Ripple (XRP)

• Current Price: $0.48
• Market Cap: $26 billion
• Circulating Supply: 55.5 million XRP
• Max Supply: 99 billion
• Vol (24H): $1.3 billion

Despite Ripple’s utility and popularity, XRP’s price has lagged behind that of other leading cryptos, notably because of its current regulatory challenges which affect its market dynamics. Recent developments, including a potential Supreme Court case, have drawn attention, especially after a favourable ruling for the SEC in the Coinbase case.

Over the past six months, XRP has fluctuated between $0.47 and $0.72, currently near the lower limit. To regain bullish momentum, XRP must stay above $0.50 and break the $0.72 resistance, which could revive bullish sentiment.

1.  Solana (SOL)

• Current Price: $153.98
• Market Cap: $70 billion
• Circulating Supply: 460.9 million SOL
• Max Supply: N/A
• Vol (24H): $2.13 billion

Topping the list of top altcoins for 2024 is Solana’ SOL. The blockchain has recorded signficant milestones in recent months, including surpassing Ethereum in NFT sales volumes. Its strength of being able to handle many transactions per second with minimal fees helps it support a robust ecosystem and numerous partnerships.

Since October 2023, Solana’s price surged by nearly 750%, placing it among the top cryptos by market capitalization. After recovering from the early 2022 bear market challenges, Solana’s price closely followed Bitcoin’s movements. Solana is now on a recovery path, trading just below $170. Throughout April 2024, it dropped from around $200 to $135.

The bullish momentum may resume if Solana re-enters the upward channel and surpasses its previous peak of $259, suggesting a 57% increase. The next target level after breaching $173 could range between $190 and $200, representing a significant psychological resistance region. If the price declines, support is expected around $157, coinciding with the base Fibonacci pivot level and the 50-day EMA.

Finally, as the cryptocurrency market continues to evolve in 2024, these top 10 altcoins present exciting opportunities for investors. However, it’s crucial to remember that the crypto market is highly volatile and unpredictable. Always conduct thorough research and consider your risk tolerance before making any investment decisions.

Disclaimer: This article is intended solely for informational purposes and should not be considered trading or investment advice. Nothing herein should be construed as financial, legal, or tax advice. Trading or investing in cryptocurrencies carries a considerable risk of financial loss. Always conduct due diligence. 

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