This bull run has just started, so some altcoins still have the potential for significant upside. While established projects like Cardano and Render are recovering from the bear market of 2022-2023, younger projects like Sui eye new heights.
Among emerging projects, Layer-2 solutions PlutoChain and ShibaGalaxy offer the most utility. These networks could address the scalability limitations of blockchains like Bitcoin and Ethereum to unlock new opportunities for developers and users.
Cardano (ADA)
Last week, ADA broke above $1 for the first time since 2022. The 131% yearly increase can be attributed to the potential ETF launch and ecosystem developments, including a rumored partnership with Ripple.
Recently, a crypto rating firm Weiss Crypto gave Cardano an A- rating. This places ADA alongside BTC and ETH as one of the top three networks in terms of technology, adoption, and market performance.
As of September, the Cardano network counted 1.3 million delegated wallets and over 1,370 active projects. Whales and institutional investors are actively stacking up on ADA – namely, wallets holding $1 million to $10 million worth of ADA have increased their holdings by 82.97%, which suggests the upward trend might continue.
Render (RENDER)
Render Network is on a mission to make GPU resources accessible to those who need them for demanding tasks like 3D rendering and AI model training. RENDER lies at the core of this peer-to-peer model, acting as a means of payment for services.
This year, RENDER migrated from the Ethereum token standard to Solana, which allows it to handle a higher number of transactions with lower fees.
Like most altcoins, RENDER plunged in 2022-2023 but hit a new ATH of $13.50 in March 2024. The token’s price has since fallen to $7.26 but still stands 118% above last year’s price. Experts predict RENDER to rebound to $12 if it sustains the current bullish momentum.
Sui
Sui is a relatively new Layer-1 blockchain using a novel object-centric data model for security and scalability. The SUI token reached a $9.08 billion market cap in its first year and now ranks 18th among all cryptocurrencies.
Written by seasoned experts, who have over 16 years of experience in Free Zones development. Learn more.
SUI saw a 416.68% yearly increase and is now trading at $3.19, 19.28% below its ATH of $3.93. Technical indicators suggest SUI might reach $4.50 soon, driven by the rapid adoption of the Sui ecosystem for DeFi applications.
Last year, the TVL (Total Value Locked) of DeFi apps on Sui was $100 million. By February this year, it rose to over $500 million.
PlutoChain
PlutoChain is a Layer-2 solution that could introduce smart contracts to Bitcoin, so developers can build DeFi, NFT, and gaming apps and launch new tokens on the world’s leading network.
Additionally, PlutoChain’s EVM compatibility allows the export of Ethereum-based applications to Bitcoin. This way, PlutoChain could expand Bitcoin’s utility beyond a mere store of value.
The project passed a Solid Proof audit that found no critical bugs or vulnerabilities, which makes it particularly appealing for security sensitive applications.
Another important aspect of PlutoChain is the transparent governance structure – holders get a say in development proposals, so the project’s direction always aligns with the community’s vision.
The Bitcoin DeFi market is severely underdeveloped, so PlutoChain could pioneer this untapped sector.
ShibaGalaxy
There’s no shortage of dog-themed projects on the market, but ShibaGalaxy merges overall appeal with strong utility. Its proprietary Layer-2 solution could offer instant, low-free transactions between Ethereum and Shiba Galaxy Chain. Early adopters can even receive rewards for building on the new network and staking SHIBG tokens.
Shiba Galaxy could become a comprehensive ecosystem, so it prioritizes scalability and security. SolidProof assessed the project’s codebase and didn’t identify any issues.
The project’s vision focuses on providing value for the community through continuous product upgrades and various incentives.
Please remember that this article is purely informational and not financial advice. Any and all cryptocurrencies are volatile, with prices prone to rapid changes. Always do your own research and consult an expert before joining any crypto venture. We are not liable for any outcomes based on the information in this article. Statements about the future entail risks and may not reflect updates.
Visit the links below to learn more about PlutoChain and its unique features:
Official Website: https://plutochain.io
X/Twitter Page: https://x.com/plutochain/
Telegram Channel: https://t.me/PlutoChainAnnouncements/
This article does not offer financial advice. Cryptocurrencies can be unpredictable and carry risks. It is important to conduct thorough research before acquiring any crypto asset. Forward-looking statements carry risks and are not guaranteed to be updated.
