5 Best Altcoins to Invest in Right Now December 24 – Solana, Celestia, Polkadot

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Crypto investors constantly look for promising altcoins that offer returns beyond industry giants like Bitcoin and Ethereum. However, picking the best altcoins for your portfolio requires time and effort. Therefore, Insidebitcoins presents a curated list of the best altcoins to consider for investment. This list includes the top contenders, exploring their standout features and potential.

5 Best Altcoins to Invest in Right Now

Solana’s SOL recently approached the $100 mark, spurred by ongoing enthusiasm for the blockchain’s advantages. This surge has continued for three weeks, drawing considerable attention from on-chain traders. Analytical data suggests that Solana has notably captivated on-chain traders, evidenced by trading volumes and network fees surpassing those of Ethereum over a seven-day period.

Concurrently, the value locked in Solana’s applications has experienced substantial growth. Starting from the $400 million mark in November, it has surged to $1.3 billion, a level reminiscent of figures in July 2022.

1. Solana (SOL)

Solana recently surpassed BNB to become the fourth-largest cryptocurrency by market value. A remarkable 51.8% weekly surge drove SOL’s market shift. Hence, this elevated SOL’s market value to $48.79 billion, surpassing BNB’s $41.40 billion. Such growth is symbolic of the wider uptrend seen across various digital currencies.

An interesting development is SOL’s outperformance of Bitcoin and Ethereum in trading volumes on Coinbase. This marked the first instance where three distinct coins surpassed Bitcoin in 24-hour trading. Additionally, SOL has witnessed notably heightened activity on decentralized exchanges (DEX).

Therefore, it showcased a staggering 3,078% increase in trading volumes compared to Ethereum. This heightened investor engagement signals a notable level of interest in Solana. Furthermore, the meme coin Bonk (BONK) value surge instigated SOL’s recent value rise. Hence, this move subsequently spurred interest in similar meme-based cryptocurrencies.

2/ @Paxos’ expansion of their USDP stablecoin issuance program, which was previously exclusive to Ethereum, now comes to the payments-friendly Solana blockchain, which features:

⚡Rapid transaction speed
🤝Near-instant settlement
🪙Negligible transaction fees…

— Solana (@solana) December 22, 2023

Enthusiasts and stakeholders closely monitor these developments, contemplating Solana’s future potential in cryptocurrency. Given the right circumstances and sustained bullish market sentiment, Solana seems positioned for a positive trajectory in the crypto industry.

2. Echelon Prime (PRIME)

The coin has experienced fluctuations, reaching its highest value of $11.74 on Dec 15, 2023, and a lowest of $7.80 after its all-time high. The project is trading close to its cycle high and above the 200-day simple moving average. The coin appears to be in circulation with a circulating supply of 26.27M PRIME out of a maximum of 111.11M PRIME.

Echelon Prime (PRIME) trades at $10.22, showing a 14.99% increase in the last 24 hours. Moreover, it boasts a trading volume of $3.58M and a market cap of $268.49M. Its market dominance stands at 0.02%.

Predictions for Echelon Prime’s future value vary. Some foresee a maximum price of $7.36 as the market recovers. Meanwhile, others anticipate an average price of $6.49 by 2023. However, in the event of a significant bearish trend, projections indicate a potential minimum value of $5.62 by 2023.

𝗣𝗹𝗮𝗻𝗲𝘁𝗳𝗮𝗹𝗹 𝗣𝗿𝗶𝗺𝗲 𝗘𝘃𝗲𝗻𝘁
We have allocated 60,000 $PRIME for committed collectors of the first @ParallelTCG expansion.

Sets are faction-based—more details to come in the new year.

Trade your way up to a full Planetfall set using https://t.co/zoo0PY2boT today! pic.twitter.com/JamXw8JFVA

— Echelon (@EchelonFND) December 13, 2023

The sentiment around Echelon Prime is currently bullish, complemented by a Fear & Greed Index registering 71 (Greed). Proponents of the project highlight its strong fundamentals and community support, envisioning potential collaborations with other networks to drive the coin’s value beyond $11.47 by 2024.

3. Celestia (TIA)

Celestia caught the crypto market’s eye due to a notable surge that propelled it into the top 100 cryptocurrencies. This surge, observed in the final quarter of 2023, escalated its position into the top 40, sparking discussions about its potential for further growth.

During a token sale held between October 31 and November 14, the project experienced over 500% growth since its launch. With recent trades surpassing $12, Celestia is gaining interest as a viable investment opportunity. Speculation is rife regarding the likelihood of Celestia climbing higher and securing a position among the top 20 altcoins.

So as a DA layer, rollups & L2s use Celestia to publish and retrieve transaction data.

And with data availability sampling (DAS), Celestia provides abundant blobspace that scales with the number of users.

— Celestia (@CelestiaOrg) December 22, 2023

Furthermore, the project’s momentum and potential upward trajectory have captured the interest of both investors and analysts. The chance of breaking into the top 20 within the cryptocurrency realm seems plausible for Celestia.

Therefore, this makes it an attractive prospect for investors eyeing a bullish trend. Celestia’s recent performance and the optimism surrounding its future make it a plausible choice for those evaluating their next crypto investment.

4. Polkadot (DOT)

Polkadot (DOT) has seen a notable surge in interest and value over the past month, particularly showcasing a significant gain of 47% in December. This surge culminated in a recent 20% increase within just two days. Thereby propelling DOT to break past the $7.9 barrier, marking a new high for 2023. This surge in value has drawn attention to the cryptocurrency market, indicating growing investor confidence in Polkadot.

Technical analysis of Polkadot’s price structure suggests a positive trajectory, albeit potentially encountering minor reversals soon. Overall, the trend indicates a likelihood of further price gains, attracting traders and investors keen on technical indicators.

Beyond price success, Polkadot’s blockchain has experienced a substantial increase in revenue, pointing toward heightened platform utilization. This increase underscores active engagement from developers and consumers within Polkadot’s ecosystem, showcasing growing acceptance.

Elevated activity indicates enhanced platform use and interaction. Thereby attracting developers and users while demonstrating the platform’s capabilities. This heightened interest could potentially drive further adoption, promoting ecosystem expansion. Moreover, it could impact the value of the Polkadot network and its native token.

Snapshot from the 2023 Polkadot Data Report, published by the @paritytech Data Team 👩‍💻

"September 2023 was notable for the launch of Native USDC on Polkadot Asset Hub, which enhanced stablecoin functionality in the ecosystem" pic.twitter.com/b0KnxEjm4Q

— Polkadot (@Polkadot) December 22, 2023

The ongoing surge in interest could stimulate additional adoption. This could potentially influence the future development of Polkadot within the cryptocurrency space. As more developers and consumers engage with the platform, it creates momentum that might significantly shape Polkadot’s trajectory.

5. Sponge V2 ($SPONGE)

Sponge V2 has emerged as a notable development following its predecessor, the $SPONGE meme coin. The coin’s initial market capitalization rose from $1 million to over $100 million in 2023. Moreover, Sponge V2 currently holds a valuation of $16 million, backed by a community of 11,500 holders.

https://twitter.com/spongeoneth/status/1736710430888739065

Furthermore, Sponge V2 offers the Stake-to-Bridge model, strategically designed to seamlessly transition $SPONGE holders to V2 through staking. This mechanism promises a minimum annual percentage yield (APY) of 40% over four years. Additionally, integrating a Play-to-Earn (P2E) game in its ecosystem aims to enhance token utility and community engagement. This provides users with an interactive layer for participation.

Sponge V2’s transparent allocation of a 150 billion token supply for staking rewards is notable. The introduction of P2E gaming further emphasizes the project’s commitment to incentivizing its user base.

This transparency is crucial in fostering credibility and trust within the community. Looking forward, Sponge V2 is eyeing primary exchange listings and aims to leverage its community of 30,000 members, positioning itself for potential growth.

Visit SPONGEV2 Presale

Smog (SMOG) - Meme Coin With Rewards

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