Friends, the market has been surprising all of us non-stop over the past few days. Just take a look at these insane numbers. MicroStrategy has purchased a whopping 15,350 Bitcoins.
And the United States has a real chance of starting to use the first cryptocurrency as part of its national reserve. All of this is happening alongside constant updates to Bitcoin's all-time highs. At the same time, we aren't seeing a corresponding rise across all altcoins, which means the real alt season is still ahead.
That's why I've decided to highlight some truly interesting Altcoins that you simply cannot overlook in this bull market. Friends, before we dive into the coin review, I want to point out that the coins featured today represent completely different narratives.
Each coin has its own strengths and weaknesses, its unique growth potential, and corresponding risks. So, this post is by no means financial advice. It's just my personal opinion and market analysis. Always make sure to do your own research and invest wisely.
Table of Contents
Ethereum: The Established Leader
Let's begin with the largest altcoin, Ethereum. This massive and one of the oldest ecosystems has finally come out of a rather long and unpleasant FUD phase that started back in summer.
But let's discuss that in more detail. I first mentioned this asset in my summer picks, when its price was much lower. So, I want to congratulate everyone who listened to me back then.
Even at the time, I said it was a great opportunity to buy into an exceptional ecosystem with an incredible variety of projects and startups. Since then, my opinion hasn't changed. It's still a fantastic opportunity to acquire a robust and expansive ecosystem, though it's no longer as cheap as it once was.
For years now, this blockchain has held the number one position in terms of TVL, a strong indicator of trust from the community. And while Ethereum's market share has slightly declined recently, the gap between it and its closest competitor remains enormous. It's also worth noting that a lot of interesting and positive news has emerged recently.
Perhaps the most significant is the positive performance of spot Ethereum ETFs. Over the last five weeks, ETF inflows have accelerated meaningfully. Ethereum ETFs turned cumulative inflows positive for the first time since their launch after November 5. On top of this, for the first time in three years, ETH has closed a candle body above its upper bearish trendline, a highly bullish indicator in the short term.
And of course, the Ethereum ecosystem and blockchain continue to grow, improving the entire market. Overall, I see a very bright future for this project. I believe that reaching $10,000 per coin is more than a realistic goal for this bull market.
However, remember I mentioned risks? Even Ethereum isn't without them. Currently, 104 whales with wallet balances of over 100,000 ETH, around $400 million, control 57.35% of the asset's supply. This is a new all-time high, according to Santiment experts.
While these analysts argue that this is a bullish signal, I'm not entirely convinced. What do you think about this? Let me know in the comments.
Solana: The Rising Star
Next, I'd like to talk about the second altcoin, which has already become the undeniable leader of this bull market.
It's outperforming every project, product, and blockchain in terms of active wallets, trading volumes, and the number of developers. But let's take it step by step. Despite all the advantages of the well-known Ethereum, I currently like Solana much more.
They are direct competitors, and right now the biggest altcoin is losing this fierce race. Over 900% growth in a single year. This is literally the easiest money I've made in my life. Now, let's get back to the reasons why Solana is leading the pack.
At the moment, this blockchain has become a technical hub for anyone and everyone. Over the past year, it hasn't just shown wild price growth. It has also more than doubled the number of new startups on the blockchain.
No other layer 1 blockchain can even come close to matching this. Of course, such massive growth has been accompanied by an influx of developers and new products to the blockchain. For example, let's talk about a well-known NFT project, Pudgy Penguins, which boasts a massive ecosystem with numerous NFT collections on Ethereum.
Recently, they decided to launch their own meme coin, Pengu. Can you guess which blockchain such a big project chose for this? Spoiler alert, they didn't use Ethereum. Instead, they switched to Solana.
And why is that? The answer is simple. Solana offers the perfect conditions for the meme coin narrative. While Ethereum is still relatively expensive and not the fastest blockchain, Solana is the better choice.
I've mentioned this before, but it's worth bringing up again here. A great example is the Pump.fun platform, which allows users to create meme coins almost for free. By the way, out of the top 15 most profitable products and projects in the entire crypto space, 6 are from the Solana blockchain, and they're part of the meme coin narrative.
Before I dive into my price prediction for Solana, it's important to note that its TVL has also been growing steadily in recent times. As for the future price, I see no reason why Solana couldn't reach $800 to $1,000.
Sui: The New Contender
Now let's move on to the last token from the layer 1 narrative, Sui. It's a relatively new blockchain that deserves our attention. Despite being quite young, Sui already boasts a massive ecosystem with numerous projects and startups. In this sense, it reminds me of Solana. It's also an excellent platform for development.
Naturally, as the number of projects on the blockchain grows, so does its TVL, which has been steadily increasing since the beginning of 2024. While Solana has carved out a niche as the go-to blockchain for meme coins, Sui has decided to take a slightly different path. They're currently in the process of launching a gaming device that will feature unique Web3 games.
This has the potential to bring a large influx of new users and liquidity to the blockchain, as GameFi is one of the most user-friendly and exciting sectors in crypto. Overall, Sui definitely has enormous potential, as they're working hard to become one of the top blockchains in terms of technical performance. Moreover, there's been a lot of bullish news recently.
VanEck has launched a Sui ETN in Europe, further highlighting the growing acceptance of cryptocurrency, even in the European market. Recently, Sui also expanded into a new market through a partnership with a major corporation to tokenize ESG assets. Additionally, Sui has teamed up with Franklin Templeton Digital Assets, which is a massively bullish signal.
Can you see how many big players are taking an interest in crypto and Sui in particular? I believe Sui could easily reach a market capitalization of 50 to 60 billion dollars, which would mean a five-times increase from current levels. However, despite all the bullish indicators, I must point out the importance of keeping an eye on the total supply and circulating supply of tokens.
The AI Narrative: Internet Computer Protocol (ICP)
The AI narrative remains one of the most exciting and technologically advanced in the crypto space. I frequently discuss these types of coins on my website, and this post will be no exception, so let's quickly dive into some fascinating projects in this sector. The first project I'd like to highlight is Internet Computer Protocol, which could also be categorized as a Layer 1 project.
However, I personally see it as more closely tied to AI. The story behind ICP is unique because most current AI technologies are created by large corporations developing centralized products. For example, ChatGPT, the globally renowned assistant that I'd even call the new Google, not only answers questions but also solves problems.
Yet the primary issue with such products is their centralization and lack of transparency. This is precisely where Internet Computer Protocol steps in with its AI built entirely on the blockchain. The main goal of this blockchain is to ensure control over AI, preventing potential abuses.
ICP's technologies are already far ahead of the curve, offering capabilities ranging from processing text and graphic queries to advanced facial recognition features. These innovations open up new possibilities in industries like security, financial services, and even healthcare. The ICP team is highly active, participating in numerous hackathons, meetups, and other events, striving to create the most favorable conditions for technological advancement on the blockchain.
Speaking of decentralized AI, do you remember my thoughts on its importance? DFINITY, the organization behind ICP, is one of the founders of the Manifesto for Decentralized AI advocating for a fair, secure, and accessible AI ecosystem where control over technology isn't concentrated in the hands of a few corporations. Here's another interesting fact. In 2024, ICP's developer growth reached 75%, the second highest among all blockchains, even surpassing Ethereum.
And most excitingly, over the past two months, ICP has become the cheapest blockchain with a 13x price gap compared to its closest competitor, a clear indicator of its competitiveness. If the optimistic scenario plays out, ICP's token price could reach $175 to $200. This is entirely realistic, given that they were the first to create a platform for integrating AI on the blockchain.
What do you think? Do you see ICP as having the potential to revolutionize the AI and blockchain space? Share your thoughts in the comments.
Render Network: Revolutionizing Rendering
Next, I want to talk about Render Network, a coin that has appeared countless times in my videos. Render is truly revolutionizing the industry by significantly reducing not only the costs but also the resources required for rendering materials.
This technology is indispensable in many fields where rendering quality plays a key role. Not so long ago, the project migrated to the Solana blockchain. Render allows for the processing of materials in any format, style, and level of quality, making it a leader in its segment.
Major companies are actively integrating Render into their products. For instance, Apple uses Render Network for its innovative glasses and iPads powered by the new M4 processor.
NVIDIA has also joined in, forming a strategic partnership with Render. Additionally, one of the largest AI image generators is planning to use Render Network for its operations. The best part? These aren't just paper partnerships.
These companies actively use Render in their daily operations, underscoring the trust in this technology. On top of that, there are rumors that even the well-known 3D editor Blender might integrate Render into its workflows in the future. Another vote of confidence for the project comes from its inclusion in Grayscale's AI fund, signaling its potential as a long-term investment.
Recently, Render released an update to its Octane Render program, significantly enhancing the functionality of Render Network. The update simplifies work for creators while adding numerous new features. Moreover, Render Network was also included in a dedicated ETP fund with 21 shares, further demonstrating how big players are interested in the AI sector and Render in particular.
So, to keep it short, I'm extremely bullish on Render and see the potential for its price to reach $150-$200 in the near future. And if you think Render is already expensive, you'll definitely love the next AI narrative project.
Akash Network: Competing with Giants
Let's talk about Akash Network, a project that is currently flying under the radar for many but has the potential to become a serious crypto competitor to giants like Google Cloud and Amazon Web Services.
Its primary advantage is significantly lower costs, making it a more attractive option for users. Looking at the charts, Akash's pricing is notably more competitive, driving its growth and increasing its popularity. Moreover, Akash Network operates as a marketplace, where anyone can rent out their GPU and earn passive income.
This allows everyday users to become part of the ecosystem and monetize their computing power, making the project appealing not only to investors but also to regular users. Additionally, the project is actively developing its ecosystem, offering simplified ways to integrate with the Akash Network, which attracts new participants. Real-world use cases already implemented by Akash further build trust and enhance its growth prospects.
The GPU sector is currently one of the most promising areas, with many experts predicting parabolic growth in this market. Personally, I believe Akash has the potential to reach the peak levels of Render Network in the near future. What do you think about this project? Does Akash have the potential to become an essential part of the market, especially with Render already in the space? While you share your thoughts in the comments, I'd like to point out a couple of key considerations.
The project's relatively small market capitalization, which carries higher risks, and the fact that only 64% of its maximum supply is currently in circulation.
Also Read: Basenji: The Next SHIB on Coinbase's BASE!?
Important Ecosystem Products
Now, let's move on to the final section, where I'll talk about important ecosystem products.
Ethereum Name Service (ENS)
The first asset here is ENS, or Ethereum Name Service. Essentially, it's a naming service for Ethereum blockchain users. There's not much need to delve deeply into the technology, so I'll highlight the bullish indicators right away. First, Vitalik Buterin is a strong supporter of the project, considering it the best non-profit product on the Ethereum blockchain.
Since I first mentioned ENS, it has grown by an impressive 130%. I've long talked about its unrealized potential for further growth, as the project's utility can be applied in many areas. This has proven to be true, as we recently witnessed an exciting partnership that expands its reach.
The gaming giant Ubisoft now has an official partnership with ENS, which is a very significant development. Ubisoft, being a massive corporation, will bring its players closer to cryptocurrency. They've essentially become pioneers in this regard.
It's entirely possible that more computer games will adopt similar integrations. GTA 6, for example, could even become a GameFi project. This makes the future of ENS particularly exciting.
The project offers utility both for the cryptocurrency space and for the traditional Web2 world. In terms of potential, I believe ENS will, at the very least, return to its all-time high levels. Let me know your thoughts in the comments.
Jupiter (Jup)
Speaking of innovative platforms, it's impossible not to mention Jupiter, the flagship decentralized exchange in the Solana ecosystem. Solana is confidently leading in daily trading volumes, and a significant portion of these volumes goes through Jupyter. The platform continually expands its functionality.
In addition to the exchange, it offers a launchpad for new projects, a DAO system that provides passive income for Jup token stakers, and a convenient mobile app, which I personally use and find extremely practical. Jupiter isn't resting on its laurels. One of its latest innovations is a trading terminal for Memcoins, tailored to experienced traders dealing with tokens of various capitalizations.
Given the growing popularity of Memcoins, this appears to be a strategic move that could strengthen the platform's position in the ecosystem. As for the Jup token, the community actively participates in the project's development through voting, with a significant portion of assets locked in the DAO, highlighting the high level of trust among users. As an active user of the Solana blockchain, I can confidently say that Jupiter offers all the essential tools for trading.
It has everything from futures on popular Solana-based tokens to spot trading and a specialized terminal. The team behind the project demonstrates a high level of professionalism and extensive experience in the crypto industry, evident in every aspect of their product. One particularly noteworthy proposal from the founder is to reduce the token's total supply by 30%, which could serve as an important positive signal for the market.
However, it's important to note that not all tokens are currently in circulation, which presents a certain level of risk for investors. That said, considering Solana's popularity and the team's dedication, the prospects for Jup remain very promising. In my opinion, the Jup token has the potential to replicate the success of major decentralized exchanges like Unai in the Ethereum ecosystem. But be cautious, as not all of the token's supply is currently in circulation.
Conclusion: Altcoins to Buy for the Future
As we approach the next bull run, the altcoins discussed here present exciting opportunities for investors. From established players like Ethereum to rising stars like Solana and Sui, there's no shortage of promising projects. Always remember to conduct thorough research and consider your investment strategy carefully.
Frequently Asked Questions (FAQs)
1. Why should I invest in altcoins?
Investing in altcoins can provide diversification in your portfolio and the potential for higher returns compared to more established cryptocurrencies like Bitcoin and Ethereum.
2. How do I choose the right altcoins to buy?
Look for altcoins with strong fundamentals, active development, unique use cases, and a growing user base. It's essential to research and understand the project's vision and market potential.
3. Are altcoins riskier than Bitcoin?
Yes, altcoins often carry higher risks due to their volatility and lower market liquidity. However, they also offer opportunities for substantial returns if chosen wisely.
Table of Promising Altcoins
| Altcoin | Potential Price Range | Market Cap Potential |
|---|---|---|
| Ethereum (ETH) | $10,000 | Established |
| Solana (SOL) | $800 - $1,000 | Rising |
| Sui (SUI) | $50 - $60 billion | New Entrant |
| Internet Computer Protocol (ICP) | $175 - $200 | Growing |
| Render Network (RNDR) | $150 - $200 | Established |
| Aash Network | Potentially high | Emerging |