Altcoins
3 Altcoins to Buy Before Becoming Moonshots: June 2024
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In the cryptocurrency market, the term altcoin refers to any alternative to Bitcoin (BTC-USD) and sometimes Ethereum (ETH-USD). These coins and currencies may have more legitimate potential than the average meme coin, but they do not have the same level of recognition as Bitcoin. As a result, their initial prospects are limited and tend to represent project value rather than an actual alternative to fiat currency. So what are the clues investors should look for to find the right altcoins to buy?
To begin with, everything always depends on the investor’s individual risk tolerance. Altcoins, while promising in terms of technological features, do not have the same stability as Bitocin due to their lack of widespread applications and adoption. Therefore, the best altcoins to buy come down to two main factors: how big is the project in terms of funding and support, and how useful is its application? When investors focus diligently on these aspects, they mitigate risk more effectively.
Six (SEI-USD)
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With the aim of creating the Faster parallel blockchain in the world, Six (SEI-USD) has made its technology open source. The company, unlike other budding altcoin projects, is more focused on improving the current architecture of blockchain systems for the web2 iteration of the Internet. This is contrary to the broader cryptocurrency industry, as most other coins support web3 features instead.
As a result, Sei’s design is extremely focused on creating the fastest possible trading experience on web2. This generic approach means that Sei relies on the more standard ones layer 1 blockchain structure. As for the associated investment token, these features have made Sei stand out among both experts as Michael van de Poppe and more occasional traders.
The result? Six is up 6000% over the last year and seems to have found a stable price around 52 cents. Now, with its growing popularity, the coin may soon reach its next run.
Celestia (TIA-USD)
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Another blockchain game, Celestia (TIA-USD) focuses more on adaptability and availability to offer users a competitive advantage. The platform allows developers to take a common Ethereum rollup framework or virtual machine and create their own custom blockchain. With this focus on customization, Celestia could see its prospects grow rapidly if interest in blockchains continues to increase.
Additionally, the platform’s design allows for maximum compatibility with other projects by allowing verification through the use of what it calls “bright knots.” These code commands allow anyone using Celestia to check the availability of data on the blockchain. As a result, the TIA is trending higher 360% over the past year and has comfortably found a new price floor around the $9-10 range.
Additionally, the company’s push towards scalability and improving community consistency means it has the potential for organic growth. This user-driven growth would then increase both its popularity and use cases, thus increasing its value. These factors make TIA one of the best altcoins to buy.
Ondo (ONDO-USD)
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A newly minted cryptocurrency as of January 2024, Ondo (WORLD-USD) is the token that governs the non-profit organization Ondo Foundation. The company mission is to promote financial inclusion and efficiency by offering high-quality financial products and services. This includes providing funding for projects that promote the adoption of crypto technology and promoting awareness of the benefits of asset tokenization.
To make this process more democratic, the company released the Ondo token as a way to distribute voting power. Those who invest in the foundation by purchasing the token have more voting power within it decision process. This closely mirrors how major shareholders have a say in the decision-making process of a publicly traded company.
In this case, the Ondo token exchange value derives directly from the number of people investing in the project. As it aims to fund and raise awareness about asset tokenization, Ondo could generate significant value for its token holders.
As of the date of publication, Viktor Zarev did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to InvestorPlace.com Guidelines for publication.
Viktor Zarev is a scientist, researcher and writer who specializes in explaining the complex world of technology stocks through a dedication to accuracy and understanding.