The biggest financial/political event of the year still impacts the market. Donald Trump’s triumph in the White House race incredibly pushed multiple cryptocurrencies. Some of the best altcoins in 2024 broke their ATH level, while others “only” recorded substantial gains.
What were the best altcoins in 2024?
Every trader has their own strategy and timing, so it’s tough to decide what the best altcoins in 2024 are. However, people interested in crypto can point out those assets that reached their all-time high levels after the U.S. elections.
Solana price hasn’t recorded the usual volatile effects in the crypto market. Most cryptocurrencies had no massive falls after the sensational first quarter. Solana is one of a few assets that recorded ATH after the U.S. elections. In November, just a week after Bitcoin, SOLUSD exceeded $264, leaving the previous record from autumn 2022 behind. Due to the increasing market cap, value, and technical development of the whole environment, Solana can be treated as one of the best altcoins in 2024.
Another notable mention of reaching ATH is Binance Coin. Designed and developed by one of the biggest crypto exchanges in the world, this coin also benefited the outcome of the U.S. elections. Traders on the SimpleFX platform kept tabs on the TIA coin, which led to some sensational strategies during the SFX Trading Contest. You can check out Celestia’s success story and more November trades from the competition.
Bitcoin vs altcoins in 2024
Comparing Bitcoin to altcoins may showcase both similarities and differences. Undeniably, Bitcoin USD is the biggest cryptocurrency in the world. It’s the oldest, has the most oversized market cap, and the highest value.
Bitcoin became the barometer of the whole crypto industry. There is no coincidence that BTC ATH and Bitcoin 100k pushed altcoins to rapidly increase in value. Even though there are several factors that determine crypto’s price fluctuations – technological advancements, regulations, and even marketing – the demand for Bitcoin heavily impacts other altcoins, including Bitcoin Cash, Litecoin, and many other cryptocurrencies.
Best altcoins in 2024: Better than Bitcoin?
All in all, novice and experienced traders wonder if the best altcoins in 2024 outclassed Bitcoin.
As usual in economic topics, the answer will be: it depends. While analyzing the period from the U.S. elections to the half of December, some cryptos presented a higher percentage growth of value than Bitcoin (approximately 50%). ADA coin (Cardano) has tripled(!) its value in the market since Trump’s victory, similar to Polygon. Matic chart shows that the crypto skyrocketed “just” over 200 percentage points.
However, Bitcoin has been presenting much lower volatility than altcoins for a more extended period. Already mentioned Polygon is still way below the level from last December, while the sudden Cardano growth cannot match the ADA’s golden times at the turn of 2021 and 2022.
Long-term investors focusing on stability choose Bitcoin, while day traders or those looking for higher volatility and risk point out less popular altcoins, even though their value can suddenly collapse, looking at their history.
Solana altcoins: a growing ecosystem
Solana keeps growing, outpacing other cryptocurrencies in many aspects. Its growing value and stability are just the tip of the iceberg when analyzing its influence on the whole crypto community.
Solana’s ecosystem consists of multiple tools and features, from multiple coins supported by its technology to cooperation with other blockchain solutions. Two major stablecoins – Tether and USD Coin – can be treated as Solana altcoins. Moreover, other essential, well-recognized cryptocurrencies tightly cooperate with this ecosystem thanks to the scalability, including Chainlink coin.
With its focus on low fees, high-speed data transmission, and developing DeFi, the Solana ecosystem may be one of the best altcoins in 2024.
