Top 7 Altcoins Worth HODLing for 2024 Other Than Ethereum
As we enter August 2024, the cryptocurrency market is experiencing a downtrend, with Bitcoin (BTC)dropping from $70,000 to $50,000 (-25%) and Ethereum (ETH) falling from $3,350 to $2,300 (-31%) over the past week. Key factors contributing to the bearish market include the US stock market crash, a weak US jobs report, significant sell-offs, and outflows from spot Bitcoin ETFs. Despite challenges, the industry has seen substantial growth over the past year. It’s important to reject fear, uncertainty, and doubt (FUD) and continue holding. Here are the top 7 potential cryptocurrencies you should hodl for short-term gains and long-term growth in 2024.
1. Solana (SOL)
Price: $113.45
Market Cap: $52.57 billion
Solana was created to support decentralized finance (DeFi) applications, decentralized apps (DApps), and smart contracts. It operates using a unique combination of proof-of-stake and proof-of-history mechanisms, enabling fast and secure transaction processing. SOL, the native token of Solana, powers the platform. Solana’s strength lies in its ability to handle numerous transactions per second with minimal fees. Its extensive ecosystem and collaborations with various projects contribute to its growth and adoption.
When SOL launched in 2020, its price was $0.77. By late July 2024, its price had risen to approximately $156.62, marking a gain of 20,241%. Over the past year, Solana’s price has surged by 405%, making it one of the top cryptocurrencies to hold in 2024.
2. BNB (BNB)
Price: $423.88
Market Cap: $59.72 billion
BNB is a token launched by the Binance cryptocurrency exchange in 2017. It serves two main purposes: providing special benefits to its holders when using Binance, such as lower trading fees, access to the Launchpad and Launchpool programs, cashback on Binance Visa card purchases, and more. Additionally, BNB acts as the native currency of the Binance smart chain, a variant of Ethereum that offers significantly lower transaction fees and allows developers to deploy EVM-compatible decentralized applications easily. Originally known as Binance Coin, BNB has undergone extensive rebranding.
In 2017, BNB’s price was just $0.10. By late July 2024, its price had soared to around $569, marking a gain of 568,609%. Over the past year, BNB’s price has increased by 76%. Recently, the Binance crypto exchange announced a new initiative called “HODLer Airdrops,” which will provide airdrops to users who have their BNB tokens in Binance’s Simple Earn lending products.
The HODLer Airdrops initiative offers additional incentives for users to hold BNB tokens. BNB tokens committed to Simple Earn products will also be eligible for other benefits such as the Launchpool and Megadrop initiatives, as well as Binance’s VIP program.
3. Avalanche (AVAX)
Price: $18.23
Market Cap: $7.18 billion
Avalanche (AVAX) is a quickly rising blockchain platform aiming to transform decentralized finance (DeFi) and support the creation of highly scalable and interoperable decentralized applications (dApps). Avalanche features a unique consensus protocol known as Avalanche consensus, which ensures fast and secure transactions with low fees.
With a market cap of $7.19 billion, AVAX is the leading DeFi coin, having surged 50% over the past year. Avalanche’s emphasis on scalability, high throughput, and low latency positions it as a potential game-changer in the DeFi space. By equipping developers with the tools to create powerful and efficient decentralized applications, Avalanche seeks to overcome the scalability and usability challenges that many existing blockchain networks face.
4. Pepe (PEPE)
Price: $0.000006383
Market Cap: $2.64 billion
Pepe is the second-largest meme coin by market cap and the 26th-largest cryptocurrency worldwide. Although it wasn’t initially promoted as a utility token, Pepe quickly gained popularity and has developed into a legitimate cryptocurrency with a dedicated following.
Over the past year, Pepe’s price has surged by 423% and increased by 21,428% since April 2023. According to PEPE’s roadmap, the team plans to expand its ecosystem in Phase 3 with new tools and features, potentially providing PEPE with real-world utilities.
5. Floki (FLOKI)
Price: $0.000103
Market Cap: $968 million
Floki (FLOKI) has rapidly evolved from a meme coin into a thriving Web3 ecosystem, emphasizing community engagement and strategic marketing. It has expanded its offerings to include TokenFi for NFT and asset tokenization, an immersive play-to-earn (P2E) metaverse, a rewarding staking dApp, and a dynamic DeFi marketplace. Unlike other meme coins lacking intrinsic value, FLOKI operates as a multichain token on both the Ethereum and Binance Smart Chain (BSC) blockchains.
With a total market capitalization of $968 million, FLOKI ranks as the 6th largest meme coin by market cap. Over the past year, Floki’s price has increased by 365%. Given its growing adoption and community-driven innovation, Floki is a cryptocurrency worth considering.
6. Ponke (PONKE)
Price: $0.2406
Market Cap: $133.56 million
PONKE launched earlier this year and quickly gained popularity on social media. Its attractive design and humorous memes caught users’ attention, prompting them to trade and speculate with the cryptocurrency. Over the last 6 months, Ponke price has increased by 198%. Since its launch, it has surpassed 54,800 holders with liquidity of $3.8 million. Ponke has been listed on major centralized crypto exchanges including Bybit, MEXC, Gate, Bitmart, Bitget, and more.
This meme coin leverages Solana’s high throughput and low transaction fees, which enhances the trading experience and makes it a viable choice for everyday transactions.
7. Apu Apustaja (APU)
Price: $0.0002353
Market Cap: $73.70 million
Apu Apustaja is a popular frog-themed memecoin that was launched on the Ethereum blockchain in March 2024. Within five months of its launch, APU gained 15,000 holders and achieved a liquidity of $1.37 million. The coin has been listed on several major exchanges, including MEXC, Bitget, Gate.io, BingX, CoinEx, and Tapbit, which are essential for increasing its liquidity and accessibility. The project has partnered with the market maker Wintermute and passed an audit by Metatrust, enhancing its credibility.
Apu Apustaja places a strong emphasis on brand-building through campaigning and community funding. The community has released 11 music albums on platforms such as Apple Music and Spotify, all created by its members. They have also published “The Book of Apu,” a comprehensive story of the meme’s lore developed by the community, consisting of over 30 chapters. Additionally, the community has developed an Apu Game and initiated a creative marketing campaign using stickers and posters, boosting the overall Apu Apustaja experience and visibility.
Conclusion
Despite the current downtrend in the cryptocurrency market, there are several promising altcoins worth holding for potential short-term gains and long-term growth in 2024. Solana, BNB, Avalanche, Pepe, Floki, Ponke, and Apu Apustaja each offer unique features and growth potential, driven by strong community engagement, innovative projects, and strategic partnerships. By focusing on these altcoins, investors can navigate the market’s challenges and capitalize on the opportunities within the evolving crypto landscape.
