7 Hot Altcoins Primed for Success in 2024

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The year 2024 seems to be agreeing with the crypto market so far. Clocking a global market cap of over $2 trillion, blockchain-powered assets are breaking records right, left, and center with their superlative performances. 

Market experts have attributed this success to a long list of factors which includes the launch of crypto ETFs in the US. Even as discussions over legal aspects of BTC ETFs continued, these financial products accumulated around $125 million of BTC tokens on an average every day in the four weeks that followed after their launch.

Analysts see the market optimization extending to the upcoming months and suggest that an altcoin-led rally is very much on the cards. The top crypto coins that they feel will be trending include InQubeta (QUBE), Tron (TRX), Polkadot (DOT), Arbitrum (ARB), Chainlink (LINK), Solana (SOL) and Avalanche (AVAX). 

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To know more about why these tokens are worth your attention, read on to see a brief description of their key features and some updates.

1. InQubeta: The top ICO of 2024

Business development is not every startup team’s cup of tea. InQubeta fills in the gap by offering innovators the right guidance and tools to develop business models for their AI projects. 

The Ethereum-based platform helps startups raise funds, receive advice from experienced professionals, find mentors, and grow their network. InQubeta has received a lot of praise from analysts for its unique utility that targets the upcoming AI sector. 

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These services are provided through a transparent interface which crypto users can explore by acquiring InQubeta’s native cryptocurrency, the QUBE token. 

The token’s supply is capped at 1.5 billion and 65% of it is meant for presale. However, as the QUBE token is a deflationary asset, its availability depends on market conditions. If markets are volatile or inflation is rising, a deflationary asset becomes scarcer and buyers find it difficult to acquire it. The logic behind restricting the supply is to reduce price fluctuations and boost the asset’s value.

The deflationary mechanism allows an asset like the QUBE token to stay stable even when markets are tanking. During such times, even if the supply increases, the token burn mechanism destroys unwanted coins from circulation.

The cryptocurrency has also been trending because of its presale gains that have continued since last year. The earnings of InQubeta’s cryptocurrency ICO currently stand at around $10.5 million.

Impressed by the potential of the QUBE token, more crypto users are gearing up to explore its features. In their reviews, analysts have been quite appreciative of the way decision-making is delegated to token holders. As InQubeta is a decentralized platform, there’s no authority to govern it. 

Token holders are given voting rights which are used to figure out what kind of changes or protocol upgrades should be implemented to ensure optimal growth for the platform. Any proposal for a new feature or protocol change is put to a vote where all token holders participate and give their opinions.

The QUBE token has received a warm welcome in cryptoverse because of its potential for staking. Blockchain encourages crypto users to lock their tokens in liquidity pools and earn crypto rewards in exchange. 

As the staked tokens improve the liquidity situation, blockchain systems get to ramp up operations. To reward stakers for their patience, InQubeta has created a reserve to sustain staking activities on the platform. It’s kept well endowed by routing tax collections.

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2. Tron unveils plans for upcoming Bitcoin Layer 2 solution

Tron is a prominent blockchain network comprising multiple solutions like a crypto exchange, blockchain explorer, and a Web 3.0 wallet. Its native token TRX is among the most sought-after crypto assets in the world. 

Tron was in the news recently after it unveiled a roadmap for its upcoming Bitcoin Layer 2 solution. According to reports, the solution has the capability to change the way stablecoins are used in the Bitcoin ecosystem. 

As part of the three-stage roadmap, Tron would first be working on ramping up the interoperability of Bitcoin. In the next stage, the platform would explore partnerships between Tron and Bitcoin networks. The third phase would see the launch of the unified Layer 2 solution.

3. Polkadot unveils AI-based educational tool for its ecosystem

Deemed as one of the top crypto coins of the year, Polkadot is a network of interoperable chains that allow the transfer of data and assets. These blockchains which comprise the Polkadot network are called parachains. Its native token DOT is used for dealing with all transactional purposes on the platform.

Though 2024 saw the launch of many new altcoins, Polkadot’s performance remained undeterred. Experts feel that the consistency has a lot to do with how Polygon is always exploring new applications. 

Recently, it hit the headlines after it announced its AI tool, PolkaBot.AI. The platform stated that PolkaBot.AI was an educational tool for exploring the Polkadot ecosystem. The tool has been created with AI solutions OriginTrail and NeuroWebAI. 

4. Proof-of-play to design blockchains for Web 3.0 games using Arbitrum 

Arbitrum is a Layer 2 network used for scaling Ethereum-based solutions. Using its suite of tools, developers can deploy dApps, smart contracts, and other Web 3.0 solutions on Ethereum with much more speed and at lower costs. Its native token is ARB. 

Offering unmatched scalability, it’s one token that can end people’s worries about which crypto to buy today for the long term. 

A lot of developers prefer Arbitrum One for creating optimistic rollups. The tool provides high-end efficiency at nominal fees and Ethereum-grade security. 

Another tool that’s quite popular among developers is the Arbitrum Orbit which facilitates the deployment of customisable blockchains. 

The platform hit the spotlight as GameFi studio Proof of Play stated that it would be rolling out a network of blockchains on Arbitrum. The network would cater to on-chain games and dApps. The network will be called ‘Multichain’ and has been built with the Arbitrum Orbit solution. Proof of Play is behind popular role-playing Web 3.0 games like Pirate Nation. 

5. Chainlink Price Feeds to now support PYUSD

Powered by an oracles protocol, Chainlink helps in relaying data from off-chain sources. Blockchains can leverage this data to run smart contracts and automate their workflows. 

The transfer of tamper-proof data inputs ensures accuracy and efficiency in the deployment of smart contracts for dApps. Its native token LINK is a good crypto to buy as it can support multiple transactions on the network. All transactions made with LINK are confirmed with the proof-of-reserve protocol which ushers in transparency through automated authentication. 

In a recent development, Chainlink announced that the platform will now be supporting PayPal’s stablecoin PYUSD. The integration would allow LINK users to track changes in the stablecoin’s price through the PYUSD Chainlink Price Feeds. 

6. Solana Foundation announces ninth annual hackathon

Solana is a leading decentralized platform providing powerful tools for creating Web 3.0 solutions. Its infrastructure is scalable and can ensure fast-paced deployment. Developers seem to like that it has a block time of 400 milliseconds and can process thousands of actions every second. 

Its scalability and speed also economize operations. The fee for using Solana for both crypto users and developers is just $0.0025. Its native token SOL is the only mode of payment on the network.

The platform is known for its continued search for new ideas that leverage Solana’s infrastructure. Solana Foundation has announced its ninth annual hackathon ‘Renaissance’. It will be a global competition where developers can create world-class dApps for catalyzing industries and solutions with real-world impact with Solana. 

The contest will be organized on the online portal Colosseum from March 4 to April 8, 2024. The winners of the hackathon can look forward to prizes worth $1 million.

7. Network addresses on Avalanche rose by 100% in 2023: Ava Labs’ John Wu

Avalanche is a smart contracts platform where developers can find a vast array of tools for deploying dApps. Its premier scaling solution Subnets provides world-class blockchain infrastructure for scaling dApps and boosting their performance. 

Given the ease of customization, developers can create their own gas tokens, explore an extensive network of validators, and speed up operations with high throughput. 

The platform has a lot to offer for developers who like to keep up with the times. Professionals can upskill by choosing from multiple courses at the Avalanche Academy. They can look forward to picking up skills like deploying virtual machines and decoding the Subnet architecture. For those who like to learn at their own pace, Avalanche has in-depth video tutorials, tooling, and documentation to guide developers.

It also has a native token that powers all transactions, payments, and rewards within the Avalanche ecosystem.

Considered one of the best altcoins of the year, Avalanche was recently in the news after Ava Labs’ president John Wu claimed that its network addresses have grown by almost 100% in 2023. He also shared that the platform was booming following a slew of partnerships that have bolstered its credibility in the international market,

Earlier in February, Citibank leveraged Avalanche for a pilot project to explore the tokenization of private equity funds.

Conclusion

These seven cryptocurrencies have all that a crypto user could ask for in an asset. These coins are among the fastest-growing assets in the market and have cutting-edge security models, decentralized governance structures, and an intuitive interface to make cryptocurrencies easier to explore. 

Widely regarded as the top cryptos to invest in this year, these tokens achieved the creme de la creme status in the crypto sector with their continued gains that are expected to see significant rises in 2024. 

The above-mentioned list has recommended presales like InQubeta, developer-friendly names like Avalanche, Solana, and Chainlink. and even future-ready projects like Polkadot, Tron, and Arbitrum.

While the cryptocurrency sector is an exciting place to be, users should always exercise caution before making purchases. People should research a crypto token well before reaching a conclusion so that they can identify potential risks in advance.

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