Crypto winter is not on the horizon, so investors are preparing for a new round of market growth with these altcoins to watch. The altcoin season traditionally begins with a sharp rise in the price of Bitcoin (BTC-USD), followed by Ethereum (ETH-USD) and then large-cap cryptocurrencies such as Solana (SOL-USD) and Avalanche (AVAX-USD). In March, the memecoin market saw a boom, with traders buying up memecoins like Dogecoin (DOGE-USD), Shiba Inu (SHIB-USD), Bonk Inu (BONK-USD), Wifi Coin (WIF-USD) and Pepe Coin (PEPE-USD). The average return of these coins was a staggering 1,3%, which was a real boon for those who invested in them late last year.
While the market is still growing, it can be a good time to choose altcoins to watch with small capitalization and potentially high returns. According to analyst Rekt Fencer, such investments may bring 2x-10x profits, especially in the early stages of the altcoin season.
Myro (MYRO-USD)
The crypto world has heard of meme coins inspired by funny animals, but Myro (MYRO-USD) has more than just creative potential. The dog of Solana (SOL-USD) co-founder Raj Gokal has become the prototype of a digital asset that serves the purpose of simplifying the creation and monetization of content. Myro’s decentralized platform is not on par with coins that stay alive only through popularity on social media. The project develops its value through transparency in token development and high community involvement.
Myro is based on the Solana blockchain, it offers fast transactions and extremely favorable fees. The project has a stable foundation and keeps expanding the next steps. The plan now includes a staking program and a social media platform for MYRO holders. After the listing on the first-tier exchanges, the coin’s recognition went up. Along with it, the profit of MYRO holders rose, which automatically moved the token to the top altcoins to watch.
In the first half of March, the token broke through the $0.4 level several times and set an all-time high price of $0.4465. The 6039% increase in the token price in less than 5 months made investors excited. Such results outperform the dynamics of the crypto market many times over and offer a valuable alternative to the standard investment in only the tokens with the largest market capitalization. Optimism is in the air as developers are gradually migrating from the Ethereum (ETH-USD) ecosystem to Solana. Thus, they can save on commissions, and Myro is ready to receive attention and investment from new ecosystem participants.
Toncoin (TON-USD)
Telegram’s creators are successful not only in the social media sphere but also in the blockchain space. They developed a decentralized platform called Telegram Open Network (TON) that can process a large volume of transactions. Hundreds of millions of Telegram users have close interaction with the project thanks to Toncoin (TON-USD). It simplifies commercial interaction with the platform and scales it up.
4 years ago, the U.S. Securities and Exchange Commission (SEC) and Toncoin had a tense discussion and even a lawsuit that led to a change in the company’s plans. However, Telegram did not give up and used the time since 2020 to rebrand and restructure. This opened the way for the project to its latest achievements and put TON on the list of altcoins to watch. Thanks to the team’s efforts, the coin entered the top 10 cryptocurrencies by market cap.
The popularity of the social network benefited the young cryptocurrency and led to a fivefold increase since the middle of last year. At that time, the token was valued below $1.2 and had a market capitalization of less than $5 billion. This is a significant amount, but it did not reflect the real prospects of the project. The implementation of the TON Space wallet accelerated growth, as it allowed storing and managing crypto finances in conjunction with the messenger.
TON’s customer base came from 2 sources: crypto enthusiasts and Telegram users. Among other things, this factor also led to an increase in the volume of daily transactions. Over the past month, this figure exceeded $400 million, despite the market volatility. Telegram’s advertising model has already integrated the token, which means its application area has expanded significantly. The high utility of the solutions sent TON soaring to new heights and an incredible price of $5.84.
Fantom (FTM-USD)
Decentralized finance (DeFi) benefits greatly from the current bull market, as it reached $131 billion in market cap and covered 5.1% of the total crypto space. However, Fantom’s (FTM-USD) growth rate exceeds this dynamics. In a matter of months, the token with a market cap of $2,5 billion has become one of the 50 largest digital assets in the DeFi category and is at the top of the list of altcoins to watch. The project specializes in building infrastructure for decentralized applications (dApps) and smart contracts. Its flexibility and modular structure can prove effective in areas ranging from supply chain management to gaming.
Thanks to the Lachesis consensus mechanism, Fantom processes up to 300,000 transactions per second and is not inferior to competitors in terms of protection against third-party attacks. The project leverages this advantage to attract new community members, and FTM acts as a way to reward validators, developers, and active users. Transaction fees and other revenues replenish the platform’s treasury, and the accumulated resources go to new initiatives.
Among the significant results of such initiatives is the integration with Sonic. By making this improvement, the project has strengthened its base in terms of uninterrupted operation and avoidance of network overload, which has become a benchmark for many platforms in the industry.
Progressive partnerships and compatibility with the Ethereum ecosystem are fueling investor bullishness for 2024. The fulfillment of the roadmap and the improvement of the technology stack helps to build confidence in Fantom. This is reflected in the token price, which reached a local high of $1.21 at the end of last month. However, this is not the limit of FTM’s growth, as in 2022, it tested the $3.48 level.
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.
