Top 3 altcoins expected to see explosive growth in 2024 – TARA, ATOM, and ARB

adminFebruary 23, 2024

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With the price of Bitcoin surging past $51,000, some experts predict that altcoins like Taraxa, Cosmos Hub, and Arbitrum could see significant growth in 2024.

Fueling this optimism, the cryptocurrency market is currently experiencing an altcoin-driven rally, with Bitcoin holding steady. This wave of strength has investors dreaming of seeing Bitcoin hit new all-time highs, and the excitement is spilling over to other digital assets as traders look for the next hot altcoin.

Several projects, especially those that have recently attracted the attention of traders, are attracting attention due to their unique features and development potential.

Cosmos Hub (ATOM)

With its unique architecture, Cosmos Hub (ATOM) promotes a more interconnected blockchain ecosystem by creating independent, customizable blockchains that can securely interact with each other.

The Cosmos Hub ecosystem has seen a positive uptick this week, with notable progress and innovation across a variety of projects.

The current price of Cosmos Hub (ATOM) is $9.87. It hasn’t moved much in the past three months, hitting a high of $12 on December 26th. Last year’s high was $14.26, up 40%. Nonetheless, some experts see potential for growth in the coming months.

With a total supply of 383 million ATOM and a trading volume of $192 million, Cosmos Hub looks promising. It is widely listed on various exchanges, including Binance, KuCoin, Gate.io, and Bybit.

During the 24 hours observed on Cosmos Hub, the price initially showed a strong upward trend and reached $10.36 before facing resistance. This surge signaled a significant influx of buyers. However, as sellers entered the market, the price gradually fell, settling at $9.87.

Recent movements in Cosmos Hub prices indicate short-term volatility, demonstrating the dynamic interaction between buyers and sellers. Important levels to monitor include the existing support at $9.80 and the previous resistance at $10.36. The market’s reaction to these levels will provide insight into the future trajectory.

For traders looking for an entry opportunity, support near $9.80 could be a potential entry point. Conversely, a clear and sustained break above the previous resistance level of $10.36 could signal the start of a bullish trend, potentially resulting in a significant price increase, potentially reaching $100, equivalent to a 10x return.

If you’re looking for the best altcoin investments, visit our guide to the best altcoins to buy now in 2024 here.

TARA

Founded in March 2021, Taraxa solves scalability issues through a unique architecture that combines BlockDAG consensus and PBFT. This unique approach positions Taraxa as a potential leader in the ever-evolving blockchain space.

The technology is shared with another project called Kaspa, which works with proof-of-work, while Taraxa works with proof-of-stake. Taraxa’s journey has been punctuated by significant price fluctuations, most notably in August 2023, when it witnessed a 10-fold surge in less than a week.

Positioned as an EVM-compatible smart contract platform with an AI-enabled ecosystem, Taraxa boasts impressive performance specifications, including sub-second transaction inclusion, 5,000 transaction per second throughput, and sub-4 second finality.

Why should we do it? #build In ~ #fallen death?
1⃣ blockDAG is the future
2⃣ Basic EVM compatibility
3⃣ Fast, low cost & eco-friendly
4⃣ $10 Million Grant Program
Apply now: https://t.co/WQ4GX0Uilk pic.twitter.com/2GnZOWcRUG
— Taraxa Project (@taraxa_project) February 19, 2024

Currently, Taraxa is valued at $0.01172, boasting a market capitalization of $45 million. There has been a positive growth trend both last week and month, but 24-hour trading volume remains at a moderate level of $1 million.

Despite being listed on major exchanges such as MEXC, KuCoin, and Gate.io, there is demand for higher market caps or more favorable volume/market cap ratios. Currently maintaining #1 ranking on CoinMarketCap. 565, Taraxa shows potential as a promising altcoin investment.

Arbitrage (ARB)

Arbitrum, an emerging Ethereum layer 2 solution, promises faster transactions and lower fees through optimistic rollups, aiming to improve the blockchain experience for developers and users.

Discussions that have been receiving a lot of attention recently revolve around the unlock event expected in March and the potential for a significant increase in market capitalization. Widespread speculation suggests the market cap could double, with Arbitrum’s predictions it could go as high as $20 or even $40 in the near term.

Arbitrum currently stands out as a notable L2 token with a market capitalization of $2.3 billion, a fully diluted value of $18 billion, and a circulating supply exceeding $1.27 billion. Expectations are growing that circulating supply will double in March, similar to the trend observed at Solana.

A similar increase in Solana’s circulating supply has generated significant market interest and continued investment. The historical precedent set by Solana, which has experienced significant growth in both market capitalization and circulating supply, serves as grounds for optimism surrounding Arbitrum’s potential.

The token’s widespread listing on major exchanges such as Binance, Gate.io, MEXC and OKX further solidifies its position in the market. After examining the latest performance indicators, Arbitrum has shown positive growth over the past 7 days and is holding at its current price. $1.85, It is up 1.19% in the last 24 hours.

The last two months’ chart shows a low of $1.06 and a high of $2.35, indicating a continued upward trend. Reflecting historical performance, Arbitrum’s previous all-time high was $1.61.

According to the analysis, a break above $1.67 could act as a catalyst for a significant upward move, potentially pushing the token towards $20, $30 or even $40 levels and starting a parabolic surge. Experts maintain a positive outlook on Arbitrum, further strengthening their confidence in its future growth potential.

conclusion

In 2024, altcoins will take center stage, providing a glimpse into the transformative potential of blockchain technology. Unlike Bitcoin, these digital assets showcase features such as rapid transactions and advanced payment solutions, offering a pragmatic view of a future fueled by innovation.

For investors, this provides an opportunity to participate in the altcoin landscape and be at the forefront of technological advancements. As the cryptocurrency market develops, three specific altcoins have emerged as promising contenders for significant growth: Taraxa, Cosmos Hub, and Arbitrum.

If you’re looking for other investment opportunities, check out our list of the best cryptocurrency ICOs to consider.

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