Cryptocurrency investments carry a high level of risk and the market is known for its volatility and unpredictability. It is critical to conduct thorough research and analysis before making any investment decisions. The information in this article should not be taken as a guarantee or endorsement of any particular cryptocurrency or investment strategy.
Embracing the world of the alternative season, an exciting phase characterized by heightened market activity and enormous potential, is a priority for astute cryptocurrency investors.
Altcoins (alternative coins), is a term used to describe all cryptocurrencies other than Bitcoin (BTC). During the alt season, these cryptocurrencies have the ability to outperform traditional stalwarts like BTC and Ethereum (ETH).
That said, it is essential to keep up to date with the latest market trends and data when it comes to identifying the crypto assets that are poised for success.
In that light, Finbold has singled out 3 specific altcoins that could do particularly well during this period and generate significant returns for investors.
ADA serves as the native cryptocurrency of Cardano, an early adopter of the proof-of-stake consensus model.
With a core focus on security, scalability and sustainability, Cardano aims to foster a more inclusive and decentralized financial ecosystem by providing a robust platform for the development of smart contracts and decentralized applications (dApps).
As of July 3, ADA is trading at $0.29, reflecting a 1.6% increase over the past 24 hours.
While ADA’s all-time high of $3.10, reached on September 2, 2021, currently surpasses its current value by a factor of 10, the potential for further price growth remains significant.
In particular, the price trajectories of ADA and other altcoins are closely intertwined with the movements of Bitcoin and the broader market. Since some market forecasts suggest that BTC could reach $100,000 after the next halving, ADA could potentially rise much further than its previous peak.
Solana (SOL) is a powerful blockchain platform designed for dApps and decentralized finance (DeFi). It stands out for its impressive scalability and offers the ability to process thousands of transactions per second at a low cost.
At the time of publication, SOL changed hands at $19.38, up 1.87% on the day.
At its current price, Solana’s price is trading at a significant discount, more than 10x lower than the all-time high of $259.52 it reached in November 2021.
Should Bitcoin reach its expected price target of $100,000 or more, it could propel SOL to new milestones and potentially generate substantial returns for investors.
Pepe (PEPE) is a meme coin that recorded one of the most staggering price increases ever.
After emerging as a clear winner in the meme coin frenzy that took place earlier this year, PEPE is now the third largest meme coin by market cap, behind Dogecoin (DOGE) and Shiba Inu (SHIB).
At the time of writing, PEPE’s price stood at $0.000001784, up 16% in the past 24 hours.
The meme coin experienced a significant drop from its peak value of $0.000004408, highlighting its growth potential in a robust alt-season.
PEPE’s market cap is currently around $700 million. If PEPE surpassed DOGE’s all-time high of $89.08 billion, that would represent a whopping 12614% increase.
In conclusion, the alt season presents a great opportunity for cryptocurrency investors to explore the potential of altcoins that may outperform traditional cryptocurrencies.
While ADA and SOL show strong fundamentals and growth prospects for their respective blockchain networks and developments, meme coins like PEPE have also gained attention in the market among traders looking for pumps.
disclaimer: The content on this site should not be considered investment advice. Investing is speculative. Your capital is at risk when investing.