Over the past years, Altcoins have emerged as a force to reckon with, holding a larger purpose and playing a greater role in the crypto industry than just being an alternative to the gold of crypto- Bitcoin.
Equipped with advanced technology that ensures faster transactions, diversified use cases, and lower fees, altcoins have several utilities and are increasingly preferred by traders in the crypto industry. Seasoned investors who are looking to cushion risk possibilities prefer diversified investment in Altcoins, which guarantees them safer returns.
While 2024 has been a roller coaster ride for Bitcoin, taking its value to extreme ends in Q1, Q2, and Q3, the performance of Altcoins has been quite sober- a testimony to the trust investors put in them. The steady growth trajectory of altcoins have made several investors take notice of its potential and how it can minimize risks with proper, diversified investments.
But what exactly are Altcoins? For a lack of better term- any cryptocurrency other than Bitcoin falls under the domain of altcoins. Investing in altcoins requires a thorough understanding of the technology, whitepaper, future roadmap, and community presence of the coin project, as not every altcoin will get you maximized returns.
In this article, we have presented the top five altcoins that have shown potential in 2024 with their steady growth and increasing popularity among traders.
5 altcoins that have shown potential in 2024
1. Artemis Coin
Artemis Coin (ARTMS) occupies the first spot in this list due to a few groundbreaking innovative features introduced by the project developers.
Set for its phase 4 launch, Artemis coin is faster, and cheaper and ensures lightning-quick transactions thanks to its advanced technology. It is fast emerging as one of the top altcoins traders prefer in investments thanks to these exclusive features.
Backed by the Ethereum chain, the Artemis Coin can also be used on different blockchains, thereby becoming a first priority for any seasoned investors.
As a testimony to its potential, the ARTMS coin has seen a notable rise in its value from presale, rising from $0.00055 to $0.00142. This value is only set to surge sky-high once the coin is officially launched. Already listed in seven exchanges, the ARTMS coin is certainly the one to look out for in Q4 of 2024.
2. Solana
One of the most popular altcoins, Solana (SOL) has quickly emerged as a top choice for investors due to its lightning fast transaction time and extremely low fees involved, making it an extremely lucrative choice for investors.
Termed as one of the most scalable platforms, Solana is another name for innovation as the project has attracted innumerable dApps, DeFi initiatives, and developers to their platform.
Its recent value has surged by 1.34% in the past 24 hours and 11.29% over the week, which is reminiscent of its great potential as a coin as well as an innovative platform in the crypto industry.
3. Dogecoin (DOGE)
Initially created as an inside joke, Dogecoin has now created its own niche in the crypto market as memetoken with great potential. Endorsed by the likes of Elon Musk, the Dogecoin token reminds investors of the early days of Bitcoin- as the dog themed altcoin has time and again proven to be extremely volatile yet highly profitable.
As of August 26, 2024, DOGE is trading at $0.1093, up 0.17% over the previous day. Currently, it trades at 0.1018 according to coinmarketcap.
Dogecoin has not been without its criticism as trade analysts have pointed out its no-cap infinite token supply mechanism as problematic in the long run of token economics. The coin also has very few use cases and has a centralized holder base, much to the disappointment of the crypto community.
Yet these limitations have not stopped the growth of dogecoins as their usage grew by a staggering 73.67% in the last year.
4. Polygon (MATIC)
When it comes to providing faster and cheaper transactions, Polygon (MATIC) is second to none. Termed as one of the most innovative projects in the past decade, the Polygon is hailed as one of the finest layer 2 scaling options for the Ethereum blockchain.
Polygon has its own layer blockchain and runs alongside the Ethereum blockchain, combining the best features of both blockchains. It is the first choice for investors who are looking for lightning fast transactions at dirt cheap rates.
It is now trading at $0.3765 as of the time of writing of this report. It is in the top 25 cryptocurrencies according to the cryptocurrency rating.
5. Cosmos (ATOM-USD)
Termed as the “Internet of blockchains”, Cosmos (ATOM-USD) is a visionary blockchain ecosystem that allows interoperability among various blockchain networks.
Cosmos uses the advanced software “Tendermint” that helps in connecting several different blockchain networks, offering the best of the crypto world under a single umbrella.
What sets Cosmos apart from other altcoins and projects is that it allows developers to build their own blockchain networks by giving them unlimited access to resources.
ATOM is the native coin of Cosmos and has seen impressive performance in 2024. As of the time of writing, the cosmos token trades at $4.16.
Conclusion
Deciding an altcoin to invest in is a tricky affair as it requires a thorough understanding of the market domain, emerging technologies, risk involvement, and future roadmap. All the listed tokens seem to have these factors in common and can be a good choice if you are trying to explore some potential market driven tokens before the end of 2024. However, Artemis makes a difference as the best crypto to buy now.
Therefore, it is pertinent that traders do their own due diligence and research while making investment related decisions. So whether you are experienced or a newbie, do your research on these coins and make your choice.
