The recent approval of the Bitcoin ETF did not boost prices and caused a bearish sentiment in the crypto market. The market slowed down after Bitcoin’s recent deadline, with a huge decrease in interest and activity in altcoins. Despite these challenges, a few cryptos like Avalanche, Cardano, and BlockDAG made their place in the realm and showed significant growth. These are the top cryptos that might be worth keeping an eye on in 2024.
Avalanche shines post ETF decision
After the ETF decision, AVAX stands out even with decreased interest in altcoins. The Avalanche network shows increased activity with rising daily active addresses and transactions due to its subnetwork addressing scaling challenges. Partnerships with major banks highlight the prominence of Avalanche.
However, AVAX’s price is at $35.5, down 0.67% in the last 24 hours, and its RSI value suggests seller dominance. Trading volume and social sentiment have also declined, indicating reduced interest. Apart from these challenges, with the upcoming Bitcoin halving and increased social adoption, AVAX may overcome the hurdles, given its past performance and potential to be a significant rise in 2024.
Cardano’s bearish trend continues
Cardano (ADA) has seen a notable surge in development, surpassing major cryptocurrencies like Ethereum, Polkadot, and Binance Coin (BNB) in terms of code commitments. These commitments, which reflect changes in the source code, highlight Cardano’s significant efforts to enhance its network. This increase positions Cardano as a leader in crypto development. Cardano has significantly increased its code commitments, driven by the development teams’s determination to achieve ambitious goals for 2024.
Despite this positive development, recent data reveals a decline in network activity. Examining rice dynamics shows a downward trend marked by lower highs and lows over the past month, signaling a bearish trend. Additionally, the trading value of ADA has decreased, indicating a reduction in trading frequency. These trends ask Cardano investors to approach the market carefully as it continues to evolve.
BlockDAG sets off on $600M goal for 2024
BlockDAG is currently in its presale phase, offering an opportunity for investors to acquire tokens at a price below $1. The presale has gained significant traction, successfully raising $1 million within the first 24 hours. This initial success suggests strong investor interest and confidence in the project.
BlockDAG has launched a progressive strategy for an ecosystem that goes beyond the conventional functionalities of blockchain. The focus is on advancing sophisticated smart contract processes, introducing innovative wallet designs, pioneering applications, and leveraging the scalability and robust characteristics of Directed Acyclic Graph (DAG) technology.
Backed by this advanced ecosystem, BlockDAG crypto has the potential for a 10x increase in value after its launch, meaning if an investor participates in the presale and acquires coins at the current price, they could potentially see a tenfold return on their investment once BDAG is launched. BlockDAG has set an ambitious raising goal, aiming to secure $600 million in 2024. The project’s exciting roadmap promises an exciting journey for early adopters who stay invested.
While Cardano’s increased development activities showcase commitment to innovation, the cautionary signals in network activity and price trends suggest a careful stance for investors. The appeal of BlockDAG lies in the opportunity for investors to commit a relatively small amount of capital during the presale and potentially give higher returns when the crypto is officially launched. It encourages individuals who are interested in maximizing their returns with a limited investment to consider participating in the BlockDAG presale.
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