Everyone’s attention in the crypto market seems to be turning towards the anticipated altcoin season, which might start by the end of summer and is expected to continue until the end of the year. During this period, focus has shifted towards altcoins believed to have potential for further increases. Considering there are thousands of altcoins in the market, predicting which ones might show clear upward trends may not be easy. Nevertheless, let’s examine some altcoins that carry potential for growth.
Keep an Eye on Solana (SOL)
Since mid-2023, Solana has dominated the market. Its consistent presence at the forefront of every price surge has positioned it distinctively. By March 2024, Solana was also behind the meme coin frenzy, essentially taking over the meme coin market.
While all this was happening, Solana’s native token, SOL, is currently trading at $146 after a slight price increase in the last 24 hours. The demand for the token has led to a 151% increase in the trading volume over the last 24 hours, bringing in a volume of $2.3 billion.
On the other hand, SOL’s market cap has once again surpassed $65 billion following the recent increase. SOL is currently ranked 5th among the top 10 cryptocurrencies by volume on CoinmarketCap, continuing to trail BNB.
With the potential start of an altcoin season, Solana appears poised to quickly rise to the top of the list again.
Current Status of Polygon (MATIC)
Polygon emerges as a top alternative for the Ethereum network, gaining significant popularity since its inception. It is important to note that MATIC, the network’s native token, is among the top 20 cryptocurrencies by volume, with a market value exceeding $6.6 billion.
MATIC has seen a 124.57% increase in trading volume in the last 24 hours, creating a volume of $232 million. The price of MATIC has fallen to $0.66 following a 2% decrease at the time of writing.
Although MATIC’s value has decreased today, considering its history, it always has the potential to yield significant profits.
Toncoin (TON) Continues to Rise
Toncoin has been one of the standout cryptocurrencies in the last two months. Its popularity soared especially after its collaboration with the social media platform Telegram, which brought it into the top 10. The relationship between Telegram and Toncoin has had a significant impact. Moreover, with the token just 5% away from its all-time high of $7.65, it’s safe to say many investors are currently profiting.
As of this writing, TON is trading at $7.25, up over 3%. Following the price increase, the market cap has risen to $25.2 billion. The trading volume has also surged by 200%, reaching $812 million.
Considering the impact created by Telegram specifically regarding TON and the interest in many new features, it’s worth mentioning that TON could potentially be one of the biggest stars of the bull market.
