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After a disastrous 2022 for cryptocurrencies, 2023 has become a year of remarkable comeback, drawing attention back to the market. Following the decision on a spot Bitcoin ETF in 2024, the market has rebounded above $40,000, renewing investor optimism. Which projects could stand out among many in 2024? Here are three of them.
Avalanche (AVAX)
Since its inception, Avalanche (AVAX) has proven to be a strong project in the decentralized finance (DeFi) space to the entire crypto world.
The increase in transaction volume and the low fees associated with it have influenced user preferences and played a significant role in developers’ network choices for their projects.
Last year’s crypto surge opened the door for Avalanche to achieve many new successes. Although still far from its past levels, it surpassed the critical $50 mark by the end of the year but then followed the market trend and declined.
In addition to the price increase, partnerships, including those with gaming company BLRD and Amazon’s (NASDAQ: AMZN) AWS, did not go unnoticed. These collaborations drew investor attention and positively impacted the project’s price.
With the expansion of the crypto ecosystem and the creation of more projects on Avalanche, widespread adoption of the platform could be facilitated, and even a $10 investment could pave the way for significant returns.
As of writing, AVAX is trading at $32.05, showing a 0.4% decrease in the last 24 hours.
Solana (SOL)
Since its emergence, Solana (SOL), dubbed the “Ethereum (ETH) killer,” continues its impressive development despite past issues, standing out with its impressive transaction speed and low fees.
Especially in 2023, significant developments occurred on the SOL front. FOMO related to Solana’s SPL token airdrops pushed the price back above $100.
Moreover, Solana made a splash with the release of Solana Saga phones. The announcement of a second smartphone created excitement. With a positive outlook in 2024, Solana could potentially move above its all-time high of $200.
Investments in Solana could be significant in this context. As more developers come to the forefront and participation in the ecosystem increases, the Solana network and SOL could emerge prominently.
At the time of writing, SOL has seen a 0.63% decrease in the last 24 hours, trading at $91.68.
Polygon (MATIC)
Polygon (MATIC), a layer-2 scaling solution for Ethereum, has maintained a strong presence for years, continuing to play a significant role in enhancing Ethereum network scalability and user experience.
With the rising demand for decentralized applications on Ethereum, Polygon’s infrastructure is gaining importance as a viable solution.
Considering the recent projects on the platform, a small investment in Polygon (MATIC) could capitalize on the network’s importance and the expansion in the blockchain world, positively affecting its price.
MATIC is currently showing a 0.3% decrease in the 24-hour price chart and is finding buyers in the $0.7567 region.
