Altcoins
Experts Recommend Top 3 Altcoins Poised for Major Price Surge
- Cody Buffinton, host of the popular cryptocurrency YouTube channel Altcoin Buzz, has identified three altcoins with significant growth potential: Ondo (ONDO), Near Protocol (NEAR), and Sui Network (SUI).
- Despite recent price declines, ONDO, NEAR and SUI have seen promising developments, including strategic partnerships and increased network activities.
Amid the sharp sell-off in Bitcoin, the broader cryptocurrency market has faced severe selling pressure, with altcoins falling even more aggressively. All top ten altcoins are currently down 5-10%.
However, some market analysts are bullish and optimistic about some altcoins. Cody Buffinton, the host of the widely followed cryptocurrency YouTube channel Altcoin Buzz, has identified three altcoins that are poised for substantial rallies: Ondo (ONDO), Near Protocol (NEAR), and Sui Network (SUI).
In a YouTube video published on June 27, 2024, Buffinton highlighted these altcoins, emphasizing their significant potential for major price increases. Let’s take a look at each of these altcoins:
1. Ondo Finance (ONDO)
At the top of the list is ONDO, the governance token of Flux Finance and Ondo DAO. Ondo, a securities tokenization platform backed by Coinbase, integrates blockchain technology with real-world assets (RWA).
Cody Buffinton noted that many investors were expecting a bullish rally for ONDO after it hit an all-time high (ATH) of $1.48 on June 3. However, since then, ONDO price has dropped 23.12% from its ATH, currently trading at $1.14.
Buffinton highlighted recent developments that suggest ONDO could surpass its previous ATH, according to the CNF updateIn the video, he highlighted that ONDO’s cap metric, which identifies distribution and accumulation areas, was $1.15 billion.
He explained that if the realized capitalization exceeds the market cap, it indicates a potential price drop and vice versa. With ONDO’s market cap at $1.7 billion, Buffinton believes that ONDO could be ready for a price surge. Currently, ONDO is ranked as the 53rd largest cryptocurrency by market cap.
2. Nearby Protocol (NEAR)
According to the cryptocurrency expert, NEAR is the second altcoin poised for a significant rally. NEAR is the native token of Near Protocol, a Layer-1 blockchain launched in 2018 that allows developers to build and deploy decentralized applications (dApps).
The expert noted that Near Protocol has gained significant attention in the first half of 2024 due to increased network activity. This is evident in the platform’s total value locked (TVL), which has risen from $90 million in January to $324.5 million this month.
Additionally, Cody highlighted the rapid growth in Near Protocol transaction volume since the beginning of the year. He suggested that the growing network activity indicates more inflows than outflows, signaling sustained user optimism and confidence in the cryptocurrency. Furthermore, according to Cryptocurrency Flash NewsNear Protocol remains the preferred choice for users who want to lead the AI revolution.
At press time, NEAR is trading at $5, down 2.7% on the day. The coin has a market cap of $5.47 billion, making it the 20th largest cryptocurrency.
3. On (ON)
The third and final asset on Cody’s list of altcoins poised for a rally is SUI, the flagship token of the popular Layer-1 blockchain Sui. The YouTuber highlighted a recent strategic partnership with digital asset custody provider Copper as a key driver of SUI’s potential rally.
“With Copper’s custody solution now operational for Sui’s native tokens, the platform is poised to attract institutional clients seeking secure and compliant services,” commented Cody.
At the time of writing, SUI is trading at $0.7978, reflecting a 3.62% decline on the day. The coin is ranked as the 47th largest cryptocurrency, with a market cap of $1.93 billion. Despite Cody’s recommendation, conducting thorough research on these tokens before making any investment decisions is crucial.
No spam, no lies, just insights. You can unsubscribe at any time.