As Solana’s price remains stagnant, attention is turning to rival altcoin projects that are attracting investor interest with significant developments and rising adoption. Analysts have identified five altcoins that have the potential to outperform in the coming weeks. At Turkish NY Radio, we explore these projects that are gaining traction in the cryptocurrency space.
Popular Altcoin Projects: Toncoin (TON) and Avalanche (AVAX)
Toncoin (TON) is gaining renewed attention, thanks to the popularity of Telegram and Binance’s Launchpool announcement for two Telegram-based games, Hamster Kombat and Catizen. This has driven demand for TON, with its total locked value surging from $317 million to $405 million—a 27% increase. The growing DeFi ecosystem of TON suggests increasing investor confidence and a broader user base adopting the token.
Meanwhile, Avalanche (AVAX) has shown a strong price recovery, climbing from $20.48 to $25.35, marking a 23.7% gain in just two weeks. The daily chart reflects a shift in market sentiment, with a move from selling pressure to buying. AVAX wallets have also surged in recent months, with the number of addresses holding AVAX reaching 8.85 million since August 2021. This growth in users highlights continued interest in the project and points to further investor engagement.
Kaspa (KAS) and Hedera (HBAR)
Kaspa (KAS) is emerging as one of Solana’s strongest competitors, benefiting from support at its 200-day moving average, pushing its price from $0.14 to $0.17—a 22.7% increase. Rising open interest (OI) in KAS futures reflects investor expectations for continued price movement. The positive trend in OI since October 2023 signals that KAS may experience further gains in the coming months.
Hedera (HBAR), after a prolonged downtrend, is showing signs of recovery. Stabilizing at a support level of $0.45, the chart reveals a double-bottom formation, which could result in a 20% price increase. Additionally, the rising funding rates for HBAR futures indicate that investors are opening long positions. If this trend continues, HBAR could see a significant price surge in the near future.
SUI: The Final Altcoin on the List
SUI has gained momentum with the launch of Grayscale SUI Trust, which provides investors direct exposure to SUI without needing to buy or hold the asset. This development led to a 15% rise in SUI’s price, pushing it to $1.02. SUI’s total locked value (TVL) has reached $700 million, enhancing its ecosystem’s credibility and signaling growing investor interest. As more investors take notice of SUI, its ecosystem is expected to continue expanding.
These five altcoins—TON, AVAX, KAS, HBAR, and SUI—are poised to benefit from Solana’s current stagnation, offering potential profit opportunities for investors. However, due to the volatile nature of the crypto market, conducting thorough research and risk assessment before investing is crucial.
Turkish NY Radio will keep monitoring these projects closely, providing updates on their progress and market movements.
