The altcoin space has recently taken a hit in its value, as the broader crypto market has seen a decline to $2.43 trillion based on CoinGecko data. As a result, many are now looking for ways through which they can recoup some of the losses experienced by this negative market trend, andare doing so through diversifying their crypto portfolio.
While many altcoins did indeed experience price decline, there are five exceptions which have done the opposite, and are rising upwards in value. Today, we will go over the top five cryptocurrencies that traders are diversifying with, including KangaMoon (KANG), Hedera (HBAR), TRON (TRX), Arweave (AR) and Monero (XMR). By the end, we will see why these are the best altcoins to invest in.
The hype surrounding the future of altcoins might have declined during the past trading sessions, as their price performance was less than optimal, however, there is no declining the fact that some altcoins have also begun moving upwards in value.
Several cryptocurrencies, including new ones have begun moving upwards and could deliver gains between 10x and 100x potentially. traders have one last opportunity to diversify their holdings in anticipation for the upcoming bull run. Here, we will go in-depth into the five altcoins that should be a part of anyone’s crypto portfolio in 2024 and beyond, and to see why they are the best altcoins to invest in.
Despite the recent decline in the value of altcoins, the KangaMoon (KANG) presale has seen a tremendous level of attention from traders as it has been selling at a rapid pace. The KANG token has risen by 290%, as it experienced an increase from $0.005 to $0.0196, providing massive ROI, and at this rate has the potential to see even more substantial gains.
In fact, the blockchain ICO as a whole has raised over $5.9 million, and can raise over $6.5 million by the end of the week fueled by the massive level of enthusiasm surrounding the future of the project and the mass accumulation by traders. Over 20,000 users are now a part of the platform even prior to its launch, and a key catalyst for this growth is its unique fuse of Social-Fi elements, a community-driven approach, and Play-to-Earn (P2E) elements. The team has also partnered with RaidSharks to supercharge the community, and boost engagement.
KANG has stood out with its vast utility in its ecosystem, as its the in-game currency for its P2E game alongside for access and purchases within the dedicated marketplace. With it, players can buy NFTs, upgrade in-game characters and do other activities that could potentially provide them with better opportunities to win. According to analyst projections, fueled by the unique ecosystem and community-driven approach it is poised to become a dominant player and spike 100x at launch, making it one of the best altcoins to buy.
Hedera (HBAR) is an altcoin connected to the open-source ledger that utilizes the quick, fair and secure Hashgraph consensus. Specifically, this is a network that offers services such as Solidity-based smart contract support, and native tokenization, alongside consensus services that are utilized to build decentralized applications.
Moreover, within the span of the past year, the Hedera price has gone up by 67.3%, indicating massive bullishness on the charts. Subsequently, the Hedera crypto also increased 12% within the past week and 18% in the past two weeks. During the seven-day span it moved from $0.08769 to $0.1761. As a result, sentiment is now massively bullish on the future of this crypto and based on the Hedera price prediction it can end 2024 at $0.2682, positioning it as one of thebest altcoins to buy.
TRON (TRX) is also gaining significant traction especially as its an entire Layer-1 blockchain that runs smart contracts and has historically been utilized for the creation of decentralized applications (dApps), which has resulted in the creation of a massive ecosystem. Due to this massive use-case and utility, the TRON crypto has managed to maintain its value and usage even despite the market dip.
As a result, according to the TRON price on-chart metrics, it’s up 76% year-to-date (YTD), and during the past week it moved from $0.11 to $0.1214. At this rate, it is bound to soon break past new price barriers, and based on the TRON price prediction as a whole it has the potential to reach $0.2725 by Q4, 2024.
Arweave (AR) is a Web3 protocol that enables data storage on a decentralized network of devices. Its objective is to create a channel through which people who need storage can connect to those who have extra storage available, and the AR crypto is utilized as an incentive for them to provide this service.
As for the Arweave crypto price performance during the past year it’s up 355.3%, making it one of the most significant altcoins for 2024 so far. In addition, during the past two weeks the crypto is up 27.5%, and within the span of a single week the Arweave price has gone up from $29 to $37.19, just barely missing the $40 price mark. As a result, based on the Arweave price prediction this crypto can end 2024 at a value of $46.77, making it one of the most solid altcoins to buy.
Monero (XMR) is a privacy-oriented cryptocurrency, which is connected to a network focused on anonymity. It integrates cryptographic technologies which are intended to make it difficult to trade any Monero crypto transactions. It obfuscates transactions to achieve its level of anonymity and fungibility.
As for the performance of the Monero price, during the past week it’s in the green zone as it passed the $120 price range. Specifically, during this time the XMR crypto has gone up from a low point of $117.53 to a maximum price of $128.07. As a result, sentiment is bullish on the future of this altcoin and based on the Monero price prediction it can end 2024 at $187.83 as a result, it’s also seen as one of the best altcoins to buy.
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