Altcoins
Forget Bitcoin: 3 Altcoins That Will Double
This movie is getting old.
Every day we comb through the news, scour the web, and flip through the feeds on our social media pages. We look for the movement on our favorite coin(s) and we search for solid investment opportunities. Of course, the dominant advice we are fed inevitably leads us back to Bitcoin (BTC).
Is it a good time to invest in Bitcoin (BTC)? Is Bitcoin (BTC) ready to move? The Twitter feeds are sure of it. Any day now, Bitcoin (BTC) is going to go through the roof. And if you don’t get in now, your FOMO will leave you waiting for a dip, hoping to join your giddy friends who knew better all along. But when you open your wallet to check the action on your investment, it’s always the same thing. The undisputed king of the cryptoverse has traded sideways again.
To be clear, Bitcoin (BTC) is going to come back. And when it does, it will likely double or triple overnight. But you know what? So will a number of altcoins in that time. The question that leaves most of us scratching our heads is, which ones? And while no one knows for sure which coin(s) will pop, what follows is a short list of three great crypto-choices we should be watching while we wait for the king to come back.
Basic Attention Token (BAT)
The first (And most obvious) on my short list of coins that will double before Bitcoin (BTC) is the Basic Attention Token (BAT). Dominating headlines with its recent inclusion on Coinbase Pro, this utility token has the potential to see massive gains overnight.
Founded by Brendan Eich, the originator of the Firefox browser, the Basic Attention Token (BAT) is the currency behind Brave. The Brave browser employs powerful ad blocking technology, improving the user experience greatly. The best part is, if you chose to see ads, your verifiable engagement can net you a nice payment in BAT.
The recent news of BAT’s inclusion on Coinbase Pro may have created short-term gains for investors in this usable crypto-product, but BAT is an excellent long-term hold as the company gains steam. As the popularity of the Brave browser grows over time, the value of the token is sure to follow.
Skycoin (SKY)
The next great choice for steady gains as we move into the future is Skycoin. Heavily touted by none other than John McAfee, this coin is associated with a new decentralized internet experience. I am including this coin not just based on its performance over the past days (or the obvious pumping John McAfee might offer) but because of its potential for truly freeing the internet from the central control that holds us all back from an honest web experience.
Billed as the most advanced blockchain platform in the world, Skycoin is up over 8% on the day on news of McAfee’s latest tattoo immortalizing his recent involvement with the team (lulz).
Monetha (MTH)
Finally, diving a little deeper down the list of popular coins is Monetha (MTH). Up yet again today, Monetha (MTH) is making big moves before reaching full maturity in 2019.
The Monetha (MTH) platform is designed to help users verify the reputation of a person or institution before transacting with the party. Securely storing verifiable information related to a users behavior, Monetha (MTH) is another company with usable products helping thousands of people make more informed decisions online.
Working it’s way up the list on coinmarketcap.com, Monetha (MTH) is now ranked #391. With a current market cap of just under US $9 Million, it won’t be long before this coin catches fire (again). You can find Monetha (MTH) making consistent gains on Binance.
So while investing (long term) in the Bitcoin (BTC) dream is still an excellent play, we should all be dipping our toes in the warm waters of the altcoin sea while we wait. The three coins presented here might just net you a fortune before Bitcoin (BTC) does.
Follow me on Twitter as I chart the current price of these picks related to Bitcoin (BTC).
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.
SOL Outlook
Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.
The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.
This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…
Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.
Catalysts Behind SOL’s Rally
Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.
The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.
Cited figures provided by DeFi aggregator DeFiLlama…
Solana price has jumped more than 8% over the past week, breaching the important level of $60. At the time of writing, Solana was trading 3% higher at $61.07. The asset’s total market cap has climbed to $25.9 billion over the past week, ranking it the 6th largest cryptocurrency after XRP. The total volume of SOL traded over the last day has declined by 8%.
SOL’s Bullish Cues
Solana’s price has been among the best-performing cryptocurrencies this year amid continuous growth. The “Ethereum killer” has consistently impressed investors throughout the year on the back of a resurgence in bullishness, which saw SOL’s price climb more than 513% in the year to date. Institutional investors have also shared the bullish sentiment, making Solana their most preferred altcoin.
In the week ending November 24, Solana recorded inflows worth nearly $3.5 million, significantly more than the other altcoins’ inflows combined. The asset’s monthly inflows were higher at $40.2 million, lower than Ethereum’s $99.6 million inflows in the same period. Other altcoins, including Litecoin and Ethereum, noted significant outflows, making Solana nearly half of the home for DeFi. This implies that when it comes to institutions, Solana is currently the best-performing altcoin with the potential of a long-term rally much higher than other digital assets.
Notably, the Solana DeFi ecosystem accomplished a significant milestone earlier this week. Its Total Value Locked (TVL) hit a new yearly peak of over $655 million,…
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