2024 Altcoin Buy List
Focus Altcoin buy list for Q2 2024 — Some solid deals out there.
It has been quite the rollercoaster over the past few weeks in crypto land. From the Bitcoin retrace all the way back down to the $56K range, to the max FUD and lawsuits by Evil Gary Gensler, to the widespread panic mode across the majority of the Twitter-sphere.
If you were disciplined enough to have cash on the sidelines, this may have been the last great opportunity before full bull run lift off. Having been 95% deployed since early 2023, I searched every couch pillow for extra cash to invest and deployed every spare penny.
Amidst all the carnage, the gems began to distinguish themselves from the trash. Below is a highlight reel list of Altcoin I have started adding for the next leg of the bull run.
Altcoin #1: $SUI
SUI is a new Layer 1 protocol that runs on the Move program language. It was developed by ex-Facebook (DIEM) developers and is one of the fastest chains out there. In can be viewed as a Solana competitor with some unique advantages. Some of the top features of SUI include parallel transactions, 297K max TPS and 400ms average finality.
In practice, transactions are smooth and fast, with a familiar EVM-like experience.
Pros:
- High speed and scalable
- Fast transaction finality
- Very suitable for AI and Gaming
- Fast TVL growth and adoption
- Smooth user experience
Cons:
- High emissions schedule (token unlocks)
- Not EVM compatible
- Smaller (but growing) number of dapps.
As a proxy bet on the SUI ecosystem, another solid and lower market cap project is the main DEX on SUI called Cetus Protocol, currently trading at a $38M MC. This is a higher risk higher reward play on the SUI ecosystem that has an amplified performance profile for those with more risk appetite. I have added moderate bags of both.
Altcoin #2: Axelar ($AXL)
Axelar is a more specialized version of Chainlink, with a greater focus on cross chain interoperability. In my experience, it is by far the smoothest and most efficient bridging tech, and has come off its high significantly.
Axelar uses a cross chain messaging infrastructure layer that allows for cross chain tokens, dapps and messages. In practice, it provide the best bridging solution bar none. SquidRouter bridge uses the Axelar tech, and enables 20 sec bridges from any EVM chain, with non-evm chains in the pipeline.
Prices are at support, and significantly (over 50%) off the highs of earlier this year. I have not yet added a bag of Axelar, as I am awaiting a large unstake in the coming days to convert to entirely to $AXL.
Altcoin # 3: Fantom ($FTM)
Fantom is one of my highest conviction bets for the remainder of this cycle. With the implementation of Sonic, they now have one of the best tech stacks in the cryptosphere. Having pulled back from the $1.20 range in March, it is significantly undervalued. I have added materially to my $FTM bags and it is currently one of my largest holdings.
Fantom has now successfully overcome the Multichain bridge “exploit”, and has been building back TVL at a steady pace. Andre Cronje, their lead developer, is now once again spearheading Fantom and has promised some seriously innovative project releases. All it will take to light a new fire will be if one of those hinted projects is as innovative as every other project he previously built (eg. Yearn Finance)
There are a handful of great smaller altcoin deals in the Fantom space as well, including Mummy Finance $MMY (perps dex), Equalizer Exchange $EQUAL (DEX and Yield with excellent tokenomics) and PaintSwap $BRUSH (Main NFT marketplace). Deep dive here.
Altcoin #4: Shrapnel ($SHRAP)
This is one of the hottest Web3 games on the market, and garnered huge attention on its release a few months ago. Prices have sold off from the $0.38 range to under $0.14. It has huge influencers including 0xHustlepedia, Neo Tokyo & Alex Becker, Ellio Trades and many more. The game is live and playable, and as we march back towards a healthy bull market, this coin will be poised for a serious rebound and then some.
To be clear, as a specific game coin, this project is far more speculative than the other picks above, and so I have added a relatively small bag to my portfolio. That said, it boasts an excellent risk/reward if you are bullish on the GameFi narrative.
Conclusion:
I remain, as ever, a hyper-contrarian investor. The recent pullback and shift in the market sentiment was a serious buy signal, and bodes very well for an explosive remainder of 2024 and an extended bull market I believe pushes towards the fall of 2025.
It is my expectation that we range for a bit in the $60-$70K range as we rebuild a base for the next significant bull wave. As we near Q3 and Q4 of this year, we will finally get a taste of the parabolic portion of the bull run, and price moves that will shake even the most dedicated of bears. That final death throw of the perma-bears will mark the beginning of the parabolic phase, and the FOMO of those waiting for better deals and more crashes will be marked by record green candles and explosive moves to the upside.
Good luck out there, and see you on the next one!
Sovereign Crypto (aka RickyBobby)
I release regular altcoin and crypto updates, subscribe for more info and to keep up to date!
Referral Bonuses/Codes:
✅Cross Chain Swaps & Bridge: RocketX Exchange
Best rates by far, bridge/swap ANY chain, swap/bridge in a single transaction, CEX & DEX, no KYC.
✅Private Cross Chain Swaps: HoudiniSwap (no code yet)
Keep all your wallets and transactions private, break the link from sender and receiver. Cheap fees, 20 mins txs, cross-chain, no wallet connections.
✅Browser Wallet: (Metamask alternative): Rabby Wallet
Excellent security measures, very compatible, all EVM chains, built-in swaps and approvals checker.
✅Best Exchange (non-us): Swissborg
Good rates, medium number of tokens, great ETF-like products, very secure & safe, fast withdrawals, solid on/off ramps, built-in launchpad
✅Best Exchange (US & Others): Kraken
Good rates, excellent global on/off ramps, medium number of tokens, safe & secure.
Disclosures:
- I own or am accumulating the above mentioned tokens/investments.
- Not financial advice.
- I rebalance my portfolio occasionally and the above may change from time to time.
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