Altcoins
3 Altcoins to Buy Before They Become Moonshots: June 2024
Source: Chinnapong / Shutterstock
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 do not have the same level of recognition as Bitcoin. As a result, their early prospects are limited and they tend to represent project value rather than a true alternative to fiat currency. So, what are the clues investors should look for to find the right altcoins to buy?
First of all, it always depends on the risk tolerance of the investor. 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. So, 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 diligently focus on these aspects, they mitigate risks more effectively.
Sei (SEI-USD)
Source: Venomous Vector/Shutterstock
Aiming to create the fastest parallel blockchain in the world, Sei (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 goes against the broader crypto industry, as most other coins instead champion web3 features.
As a result, Sei’s design is hyper-focused on creating the fastest possible trading experience on Web2. This general-purpose approach means Sei relies on more standard solutions. layer 1 blockchain structure. For the associated investment token, these characteristics have made Sei stand out both among experts like Michael van de Poppe and more casual traders.
The result? Sei is finished 6000% last year and seems to have found a stable price around 52 cents. Now, with its growing popularity, the play may soon break out in its next broadcast.
Celestia (TIA-USD)
Source: Shutterstock
Another blockchain game, Celestia (TIA-USD) focuses more on adaptability and availability to provide users with a competitive advantage. The platform allows developers to take a common Ethereum stacking framework or virtual machine and create their custom blockchain. With a focus on personalization, Celestia could see its prospects grow rapidly if interest in blockchains continues to grow.
Additionally, the platform’s design allows for maximum compatibility with other projects by enabling verification through the use of what it calls “light nodes.” These code commands allow anyone using Celestia to check the availability of data on the blockchain. As a result, TIA is rising 360% over the past year and has comfortably found a new price floor around the $9-$10 range.
Additionally, the company’s efforts toward scalability and improving community coherence mean it has potential for organic growth. This user-driven growth would then increase both its popularity and use cases, thereby increasing its value. These factors make TIA one of the best altcoins to buy.
Ondo (ONDO-USD)
Source: Sittipong Phokawatana/Shutterstock
A newly created crypto in January 2024, Ondo (ONDO-USD) is the governing token of the nonprofit organization Ondo Foundation. The company’s mission statement is to promote financial inclusion and efficiency by offering high quality financial products and services. This includes funding projects that advance the adoption of crypto technology and raising awareness of the benefits of asset tokenization.
To make this process more democratic, the company launched the Ondo token as a way to distribute voting power. Those who invest in the foundation by purchasing the token have more voting power in its decision making process. This closely reflects how major shareholders have a say in a publicly traded company’s decision-making.
In this case, the Ondo token commercial value arises directly from the number of people investing in the project. Since it aims to fund and raise awareness for asset tokenization, Ondo could generate significant value for its token holders.
As of the date of publication, Viktor Zarev did not hold (neither directly nor indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com Publishing Guidelines.
Viktor Zarev is a scientist, researcher and writer specializing in explaining the complex world of technology stocks with a focus on accuracy and understanding.