Here are the top 8 Altcoins that are potential Solana killers

Leading market watcher Altcoin Daily highlights a list of altcoins that are potential Solana Killers in 2024, including Cardano, Polkadot, Toncoin, and Near Protocol.

Solana has seen a remarkable performance this year, with the price of SOL skyrocketing a whopping 69.6% year to date (YTD). The asset managed to achieve this despite numerous declines seen in the broader market since the start of the year.

At its current price of $172.94, SOL has seen a 4% spike in the past 24 hours and a seven-day growth of 2%. Furthermore, the price of Solana has increased by 175.9% in the last six months.

The surge in the price of SOL can be attributed to influx of new tokens, especially memecoins, on the Solana network. These new tokens have strengthened the usage of Solana’s network, thus stimulating demand for SOL. Despite its notable performance, Solana faced significant problems, such as severe network outages.

The expert identifies 8 of Solana’s killers

This has given rise to speculation that other major decentralized crypto projects could rise to the occasion and pose a major threat to Solana’s dominance. The crypto community refers to these projects as “Solana Killers,” a bold statement indicating rivalry.

Interestingly, well-known cryptocurrency analyst Altcoin Daily is among the market experts who share this sentiment. According to a post from X yesterday, the analyst highlighted eight altcoins that are potential Solana Killers in 2024.

Altcoin Daily’s list of potential Solana Killers includes Near Protocol (NEAR), Toncoin (TON), Aptos (APT), Polkadot (DOT), Mina (MINA), Cardano (ADA), Sui (SUI), and Cosmos (ATOM ).

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Additionally, the leading market watcher included Injective (INJ) on the list as a bonus, urging other crypto enthusiasts to come up with other projects that could be potential Solana Killers

Possible reasons behind the selection

Although Altcoin Daily did not indicate the reason for the selection, a common feature among these projects is their decentralized nature. Furthermore, Altcoin Daily crypto assets, labeled as Solana Killers, have also made a major impact in the cryptocurrency industry.

Some have even outperformed Solana in some aspects, such as optimal performance. Notably, Cardano has not seen any major network outages since its launch in 2017. The team behind Cardano is focused on technological advancement, which has seen Cardano rank ahead of other crypto projects in terms of development activity.

Meanwhile, most altcoins on the list, including Toncoin and Near Protocol, have seen more gains than Solana this year. Data from CryptoRank shows that the prices of NEAR and TON have increased 218.2% and 106.9% year-to-date, respectively, compared to 69.6% for SOL.

Nonetheless, SOL ranks among the top 5 crypto assets, with a market capitalization of $79.84 billion. Of the eight Solana Killers Altcoin Daily mentioned, Toncoin is closest to Solana in terms of valuation. TON boasts a market capitalization of $17.89 billion and is the ninth largest cryptocurrency.

Cardano closely follows TON as the tenth largest asset with a market capitalization of $16.5 billion. It remains to be seen whether these cryptocurrencies could eventually threaten Solana’s dominance and outperform the asset in the long term.

Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinion of The Crypto Basic. Readers are encouraged to do thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.

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