5 Essential Cryptocurrencies for the Next Bull Market – Best Altcoins to Buy Now

adminJanuary 4, 2024

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As we head into 2024, a variety of tokens are ready to significantly boost your returns, offering a variety of opportunities for growth and innovation.

The future of cryptocurrency could be shaped by two major upcoming events. First, the arrival of the highly anticipated spot Bitcoin ETF in the US marks an important turning point. This ETF introduces investors to a powerful and fully compliant way to unlock the potential of Bitcoin.

Additionally, the Bitcoin halving event scheduled for April 2024 is making waves. Typically, when Bitcoin’s mining rewards are halved, it triggers a rally as coins become scarce, often leading to price spikes.

Amid these transformative developments, certain altcoins are gaining traction and are likely to experience significant growth. In particular, Ethereum (ETH), SEI, AAVE, Optimism (OP), and MetisDAO (DAO) stand out.

Read on to understand why these digital assets could be valuable additions to your cryptocurrency portfolio in the coming year.

Ethereum (ETH)

Ethereum is one of the top cryptocurrencies in terms of market capitalization. Known for its diverse applications, especially in the smart contract and NFT space, Ethereum has established itself as one of the most widely utilized coins.

Ethereum also serves as the basic framework for numerous other blockchains and cryptocurrencies built on top of it. As of December 3, the price of Ethereum is $2,221, and the 24-hour trading volume is $55.37 billion.

Over the last 24 hours, $ETH has fallen 6.41%. A closer analysis of the Ethereum price indicates that the prevailing bearish pressure is expected to persist for some time. The token has found strong support at the $2,225 level and a breach below this threshold could result in further losses.

On a positive note, significant resistance appears around $2,449. If this level is successfully surpassed, the $2,500 level could be reached. The general scenario indicates continued dominance of the bears and selling pressure is expected to persist in the near future.

Looking ahead to 2024, Ethereum is expected to trade within a range of $2,175.91 to $6,370.69.

SIX

Sei is part of a fast-growing market and anticipates significant growth in the scale of the blockchain industry. With support from industry giants, the network’s scalability and security features have improved.

Sei has strategically positioned itself to capitalize on this expected growth, with the goal of increasing its position in the market. $SEI is on a sharp upward trajectory, reaching all-time highs and producing bullish price action.

This rise has been especially noticeable since December 2023, when the price surged above $0.50. Sei’s bullish trend is highlighted by technical analysis, suggesting a potential continuation. The current $SEI price is $0.78, boasting a 24-hour trading volume of $3.13 billion and a market capitalization of $1.96 billion.

SEI cryptocurrency daily price graph

In the last 24 hours, the $SEI price rose 9.10%. If this trend continues, Sei is expected to fluctuate between $0.53 and $1.2 in 2024, signaling a promising upward trajectory and reflecting optimism surrounding recent technological innovations.

The imminent Sei v2 upgrade is poised to introduce the first ‘parallelized’ Ethereum Virtual Machine (EVM), combining the best of Solana and Ethereum. Sei’s commitment to cutting-edge technology and growing popularity among developers have led to Sei’s significant success in the cryptocurrency industry.

AAVE (AAVE)

Aave, an open source non-custodial lending system running on the Ethereum network, allows users to earn interest on their cryptocurrency holdings through deposits and facilitates cryptocurrency-backed lending.

Aave’s key attributes include decentralization as it operates without traditional intermediaries through smart contracts that automate lending contracts.

The platform supports over 17 cryptocurrencies, creating a diverse user base and giving users the flexibility to borrow assets to earn interest or provide collateral to borrow assets.

With a current price of $102.26 and a market cap of $1.5 billion, $AAVE has demonstrated significant progress in the decentralized finance (DeFi) sector. Situated in the expanding and maturing DeFi market, Aave has the potential to emerge as a prominent player.

Watch the video above for comprehensive insight into the 5 cryptocurrencies you need for the next bull market, and subscribe to Jacob Crypto Bury’s YouTube channel for more cryptocurrency-related content. Jacob also runs a Discord channel with 20,000 members where he provides trading tips and updates on upcoming cryptocurrency presales.

METIS DAO (METIS)

Within the Layer 2 scaling protocol cluster, MetisDAO stands out by enabling users to develop ecosystem projects and tools while executing faster and more cost-effective transactions on the Ethereum blockchain.

Recent milestones involve the MetisDAO Foundation, the governing body of Metis, implementing a $4.6 million Ecosystem Development Fund (EDF) comprised of METIS tokens. This strategic move aims to foster growth, strengthen liquidity, incentivize activity and encourage adoption within the Metis ecosystem.

that much #metis The DeFi ecosystem is expanding rapidly and will only continue to get better!
Check out the ecosystem project and stay tuned for future deployments👁️😉https://t.co/BcJUperguY
— Metis (@MetisDAO) December 31, 2023

The current price of METIS is $86.52, with a 24-hour trading volume of $47.23 million. In the last 24 hours, $METIS price fell -3.11%, while in the last 30 days it has seen an incredible surge of over 270%.

Technically, $METIS shows a strong outlook with support levels at $85.58 and $76.49 and resistance levels at $94.67 and $103.76. A relative strength index (RSI) value of 70.08 suggests an overbought market position, indicating a potential increase in the $METIS price according to RSI analysis.

Optimism (OP)

Optimism is gaining significant traction, especially in the expanding Web3 gaming sector. The protocol has shown notable growth indicators, witnessing a significant increase in network activity and revenue. These positive metrics position Optimism as a promising contender in the evolving Layer 2 solutions landscape.

Despite growing interest and adoption, the price of the Optimism token, currently trading at $3.59, has fallen. The $OP price has fallen 11.97% over the past 7 days, which is probably influenced by factors such as market sentiment and the overall economic environment.

However, despite the recent price decline of its native token $OP, Optimism has seen an impressive 270% increase since January 2023. This significant price surge reflects the momentum building behind Optimism and indicates further growth potential in 2024.

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