While the crypto market bull run has been heating up for months, March seems to have brought it to boiling point. Bitcoin is trading around $73,000, setting consecutive new highs. Additionally, Ethereum is targeting $5,000 years from now. Additionally, meme coin enthusiasts are again finding ways to turn hundreds into millions. Crypto expert Andreja Stojanovic shares the 3 most promising altcoin projects in the ongoing rally environment.
First ranked altcoin: Cardano (ADA)
In recent months, Cardano (ADA) has risen significantly in multiple waves in the crypto market, from its bounce point near $0.25 to $0.76 in October 2023. The strong price performance was accompanied by an increase in development activities. Plutus v1 and v2 have witnessed significant increases in the number of smart contracts created on their platforms. All of this indicates that the altcoin price is in a good place to continue its rise.
Crypto analysts are also very bullish when it comes to ADA. For example, analyst Ali Martinez noted in early March that Cardano was closely mimicking its historical pre-surge performance and could rise as high as $10 in the coming months. Such a rise would come on the back of an already strong performance. Showcasing Cardano’s strong rally at the end of 2023, Cardano is up 127.99% on the 52-week chart, while YTD growth reflects both continued volatility and the early January crypto market carnage as ADA is 25.90% in the green. However, the latest performance has been decidedly positive. Cardano is up 37% in the last 30 days.
In second place is Polkadot (DOT)
Polkadot (DOT) is another altcoin that has both recorded a significant crypto market rise since October 2023 and appears poised for an even bigger rise thanks to its many recent developments. The project has hosted new para-chains that have gone live since the beginning of the year. It also set a new Non-Fungible Token (NFT) mint speed record in February. Polkadot is increasingly coming to life with a dedicated team working on DED, the first major meme coin.
Polkadot has had a particularly strong performance in recent weeks. The altcoin rose 50.50% to $11.07 in the last 30 days. Polkadot is up 90.84% in 52 weeks and 30.23% year-to-date (YTD). So, it had a significant rally. DOT is currently targeting the next major resistance near $15. So, as with ADA, DOT is winking at the impending rise.
Last ranked altcoin: Chainlink (LINK)
Decentralized Blockchain oracle network Chainlink is another strong altcoin pick for the crypto market rally. It holds an important position as a tool provider for blockchain ecosystems to communicate with external data. This ensures that it remains a key element for many Web3 projects. It also helps that as a token it has performed very well in recent months.
Indeed, Chainlink has successfully reached its previously projected target of over $20. Moreover, it is also poised to surge towards $34 and beyond as crypto whales increasingly buy the token, pulling in more than $16 million in just two days from cryptocurrency exchange Binance between March 6-8. LINK is up 34.96% since the beginning of 2024. Moreover, despite significant fluctuations, its recent performance indicates that the rise will continue.
The opinions and predictions in the article belong to the expert and are definitely not investment advice. cryptokoin.com We strongly recommend that you do your own research before investing.
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Read more Expert Opinion: Top 3 Altcoins That Will Provide 10X Returns in 2024!