With its lower gas fees, high scalability, and faster transaction speeds, Solana (SOL) has shown how it is possible to stand out as a worthy rival to Ethereum, the largest blockchain by trading volume. Solana’s value has risen by a staggering 175% over the course of just 30 days.
The altcoin is currently the most valuable cryptocurrency after Bitcoin (BTC) in the United States.
With that being said, the crypto industry continues to grow and more projects are set to come up with solutions to make the technology more capable than ever before. However, there are several existing cryptocurrencies that have proven their mantel by surviving through market downtrends and possess the strength to challenge and even overthrow Solana.
Cardano (ADA)
Cardano has gained a massive following in the market due to ongoing developments occurring on its blockchain. The protocol’s focus on delivering sustainable, scalable, and transparent transactions has made it a very attractive alternative to Ethereum.
At the time of writing, Cardano (ADA) is trading at $0.39 – up 9.6% in the last 24 hours. ADA gained 6.8% in value over the past seven days while rallying 58.4% in the last 30 days.
With a market capitalization of $13.93 billion, the blockchain facilitates around $616 million worth of transactions on a daily basis. Out of a maximum supply of 45 billion ADA, 34.95 billion tokens are currently in circulation.
Cardano hit an all-time high of $3.09 on September 2, 2021, while its all-time low price of $0.019 was recorded on March 13, 2020.
Polygon (MATIC)
Polygon was founded as a solution to Ethereum’s issues related to scalability and high transaction fees. The Layer-2 scaling blockchain has become widely popular in the crypto space and could continue to grow much further in 2024 as more developers flock in.
At the time of writing, Polygon (MATIC) is trading at $0.91 – down 2.4% in the last 24 hours. However, MATIC gained 12.7% in value in the past seven days while surging by a whopping 73.4% over the course of a month.
The cryptocurrency has a market capitalization of $8.4 billion and attained a trading volume of $1.13 billion within 24 hours. From a maximum supply of 10 billion MATIC, 9.26 billion are currently in circulation.
MATIC recorded an all-time high of $2.92 on December 27, 2021, and an all-time low of $0.0031 on May 19, 2019.
Polygon is currently in the process of upgrading from MATIC to POL. The transition procedure has been initiated on the Ethereum mainnet.
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Fetch.AI (FET)
Fetch.AI is looking to merge blockchain technology with machine learning, artificial intelligence, and multi-agent systems. The goal of the decentralized blockchain is to foster the development of autonomous digital economies. With AI garnering a lot of hype in the tech world, the growth potential for FET is only higher for 2024.
At the time of writing, FET is trading at $0.43 – up 1.9% from its previous day’s valuation. The token has risen by 9.2% in the past week and by over 100% in the course of 30 days.
The relatively new blockchain ecosystem has a market capitalization of $452 million with a 24-hour trading volume of $132 million. Out of a total supply of 1.15 billion FET, 1.04 billion FET are currently in supply.
FET recorded an all-time high of $1.21 on September 8, 2021. While its lowest-ever price was recorded on March 13, 2020, when it was trading at $0.0081.
SingularityNET (AGIX)
SingularityNET is yet another blockchain ecosystem that is leveraging AI to create a global marketplace where participants can develop, purchase, and sell AI systems. From the look of things, the artificial intelligence sector is only going to grow as years go by, and this will help propel AGIX to new heights.
At the time of writing, AGIX is trading at $0.26 – up 2.6% in the last 24 hours. The token gained 1.6% in value in seven days while surging by 53.2% over the course of 30 days.
With a market capitalization of $324 million, the blockchain achieved a trading volume of $61.6 million over the course of 24 hours. Out of a maximum supply of 2 billion AGIX, 1.35 billion AGIX are currently in circulation.
AGIX recorded an all-time high of $0.95 on January 28, 2018. Meanwhile, its lowest price was recorded on March 13, 2020, when it was trading at $0.0074.
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Avalanche (AVAX)
Avalanche prides itself on being the go-to ecosystem for developers to deploy decentralized applications (dApps) and blockchains. The network is quickly gaining traction as a major player in the DeFi sector, and with decentralized finance protocols ever-expanding, Avalanche is only expected to grow in value in 2024.
At the time of writing, AVAX is trading at $23.67 – up 21% from its previous day’s price. The token rose by around 74% in the past week while gaining 154% in value over a period of 30 days.
With a market capitalization of $8.43 billion, Avalanche hit a 24-hour trading volume of $1.86 billion. From a maximum supply of 720 million AVAX, 432.8 million tokens are currently in circulation.
AVAX’s all-time high of $144.96 was recorded on November 21, 2021, and its lowest price point was recorded on December 31, 2020, when it hit $2.80.
Conclusion
The above-mentioned cryptocurrencies are poised to experience massive growth in 2024. However, it should be noted that the crypto sector is highly volatile and involves significant risks to investors. Therefore, it is important to do your
