Following the brutal crypto winter that was witnessed between 2022 and 2023, the crypto market rebounded in 2024. The new year brought considerable bullish momentum and an overall positive sentiment to the market. With renewed investor confidence, market liquidity and extreme greed among traders, people are returning to the market with additional capital.
As we head into the second quarter of 2024, three altcoins emerge as the top contenders: Binance Coin (BNB), Solana (SOL) and NFT Finance (NFTFN). Let’s take a closer look at these altcoins and analyze their trajectory for the coming months.
NFT Finance (NFTFN)
As a pioneer in the web3 fintech space, NFTFN strives to create an inclusive trading ecosystem. To that end, NFTFN offers innovative solutions for the challenges faced by users in the NFT market. NFTFN previously raised $500k from investors like Polygon, Chingari and Alpha Wave Global, and has also partnered with top companies like Binance Smart Chain and Google Cloud.
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NFTFN is currently in the second stage of its presale, where the tokens are available for just $0.03. Early investors who participated in the initial presale round are currently sitting on a 20% profit. With the NFT market projected to reach a whopping $230 billion in the coming years, crypto analysts speculate that NFTFN can reach a $5 valuation in 2024.
Binance Coin (BNB)
As the native token of crypto behemoth Binance’s expansive ecosystem, BNB is regularly used in the world’s largest crypto exchange as well as in the Binance Smart Chain (BSC) platform. Binance Exchange’s dominant market share positions BNB for consistent growth as the exchange expands to newer territories.
Data from CoinMarketCap shows that BNB is currently trading at $578, boasting a market capitalization of $86 billion. This altcoin has surged 42% over the past four weeks, but crypto pundits say there is more to come. Based on BNB’s increasing utility across BSC and the regular token burns conducted by Binance, BNB is projected to hit a valuation of $1,000 in the coming months.
Solana (SOL)
Since its inception in 2017, Solana’s high-speed transactions and impressive scalability have earned it the title of “Ethereum Killer”. However, Solana’s innovative proof-of-history (PoH) consensus model sets it apart from its rivals. Interestingly, the Solana protocol caters to both retail users as well as enterprises.
SOL is currently trading at $173, after gaining more than 33% over the past month. Despite facing considerable volatility over the past week, SOL has registered a consistent uptick in its trading volume which indicated continued interest from investors. Solana’s rapidly growing ecosystem, which is responsible for popular memecoins like Dogwifhat (WIF), is expected to play a major role in pushing SOL’s price to $500 this year.
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