For crypto investors, 2024 couldn’t have started any better. The recent approval of spot Bitcoin exchange-traded funds (ETF) by the Securities and Exchange Commission (SEC) and the much anticipated Bitcoin halving have sparked another crypto bull run. Within the first two months of the year, Bitcoin (BTC-USD) has surged to new highs of $65,000 for the first time since 2021.
But that’s not all. The positive market sentiment and bullish trend among crypto investors extend to other high market cap tokens. Some crypto projects in the Solana (SOL-USD) ecosystem have been showing great signs of an exciting future, attracting investors with their long-term prospects. As such, investors who missed out on the Bitcoin project during its early days can now consider these top SOL ecosystem cryptos.
These relatively new projects offer investors the opportunity to invest early and acquire their high-potential utility tokens at a low price. At the same time, the Solana blockchain is fast becoming the pioneer network for swift digital payments and the top destination for developers to house decentralized apps (dApps).
The Graph (GRT-USD)
Graph (GRT-USD) is one of the top cryptos in SOL ecosystem trading under $1, for several compelling reasons. And this is happening amid widespread market surge and excitement among crypto investors due to the ongoing bull run.
Established on the Ethereum blockchain, GRT operates as an ERC-20 token, serving as the driving force behind The Graph protocol. The decentralized and open-source indexing protocol helps users analyze blockchain data. Also, it facilitates the development of dApps and solve issues related to query security.
Inspired by the Ethereum network, The Graph aims to solve problems related to collecting blockchain data quickly and securely with no third party. Additionally, it supports developers looking to build innovative solutions and applications without having to run on external data servers.
Since 2021 when Solana added The Graph to its network, the crypto project has been dominating the blockchain. First, it supports the Solana developer community. Next, it has redesigned blockchain data collection for real-time price feeds, smart contracts, and other blockchain transactions.
As of February 2024, GRT has a market capitalization of over $2.9 billion, ranking as #5 among the top Solana ecosystem cryptocurrencies by market cap. GRT trades for about $0.3 at press time, and market analysts predict it will reach around $0.7 by 2030. With a potential 133% growth in a few years, GRT positions itself as a top choice for long-term investors.
Bonk (BONK-USD)
If you want to invest in promising Solana-backed coins, Bonk (BONK-USD) is another option. As the first dog-themed coin in the ecosystem, BONK is a viral meme coin in the crypto market.
Like SOL, BONK can be traded or used for digital payments. But the project’s burn mechanism sets it apart from the ecosystem competitor. With over 65% of BONK tokens burnt from its total circulating supply, the token has a deflationary nature. So, this will potentially lead to future value appreciation.
Further, Bonk made waves in 2023 because of its massive gains of over 10,000%. Now, BONK has been termed “the hottest meme coin of 2024” by market analysts who believe it’s poised to outperform other top meme tokens like Pepe (PEPE-USD) and Wen (WEN-USD).
As of March 2024, BONK is valued at around $0.000032, with a nearly 33,233% increase since it started trading. Despite its low price, the meme token also ranks as #6 among the top cryptos in SOL ecosystem, with a market cap of over $2.1 billion.
With more Solana ecosystem developments, Bonk leads the way for the network’s meme coins and digital payments. And, experts predict that the token will hit about $0.00007 in 2024 and continue to peak.
Dogwifhat (WIF-USD)
Launched in December 2023 on the Solana blockchain, Dogwifthat (WIF-USD) is a relatively new meme coin in the broader crypto market. The meme-inspired cryptocurrency is positioned to become one of Ethereum’s best competitors.
True, other meme coins like Dogecoin (DOGE-USD) and Bonk may have laid the groundwork for Dogwifhat to thrive. Yet, the new token stands apart with its fun approach to building a solid crypto community.
As of this writing, the live WIF price is about $0.8 and is predicted to rise over $1 by 2025. Additionally, Bitget’s technical analysis data shows that the token has gone viral with a strong buy investor sentiment. Though it is still a low-volume token with a market cap of over $1.6 billion, WIF has emerged as #8 among the top cryptos in SOL ecosystem.
Another reason WIF is capturing the hot meme coin market is its massive gains recorded over time. In about 2 months after launch, the token’s value has grown by over 360%. It positioned itself as one of the top cryptos in SOL ecosystem.
WIF was initially launched on the Bitget Innovation Zone during its initial listing. Now, it’s soared by 20% on the Exchange in the past 24 hours. Therefore, investors seeking coins with low costs and high returns certainly have a viable option in Dogwifhat. It continues to wag its tail among other dog-themed meme coins.
On the date of publication, Julia Magas 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 the InvestorPlace.com Publishing Guidelines.
