Will it burn in February 2024? The brief dip following ETF approval appears to have passed. We see green candles again. We are also approaching Bitcoin halving. According to crypto expert Camille Lemmens of the Altcoinbuzz team, all catalysts for the crypto market appear to be upward momentum. However, before we reach the second leg of this bull run, some more sideways movement is possible. Therefore, the expert shares 4 altcoins with more upside potential.
First ranked altcoin: Sui (SUI)
Since mid-December 2023, the SUI token has been rising. There was a big jump in early January, when it went from $0.80 to $1.38 in four days. Now it appears that SUI is moving towards new ATHs. The current price is $1.61. During January the price increased by 100%. However, for real improvement in SUI, TVL is where we need to look. During January, SUI’s TVL increased by 109%. It is currently at $441.5 million. This put them straight into the top 10 in TVL.
For example, SuiSwap token SSWP has also been burning since December 2023. After 7 months of sideways movement, it has seen a 5x increase since mid-December. This caused eyes to lock onto Sui. It increased the demand for the SUI token. Especially considering that SUI positions itself as a gaming blockchain. This is another vertical with tremendous growth potential. Sui has also seen two important strategic partnerships recently. cryptokoin.comAs you follow from , these include Alibaba Cloud and Solend.
Manta Network (MANTA) is second on the list.
In mid-January we saw the MANTA token launch and the highly anticipated MANTA airdrop. Since then, the MANTA token price has been increasing slightly. It is currently up from $2 to $3.58. The current ATH was $3.83 on January 28. It’s already in the top 100. It currently ranks 79th. It increased by 46% in the last 7 days. There is much more room for improvement. That’s why it’s on today’s list.
Manta Network has two networks. Booms: Manta Atlantic, which is Tier-1 on Polkadot. Manta Pacific Network is a Layer-2 operating on Celestia. This has reduced gas fees by $1.4 million since mid-December. This is because Celestia offers modular data availability. Manta’s ecosystem currently hosts more than 150 projects. Also, it continues to grow. Its TVL is also impressive. It ranks 9th with $466 million, just above Sui. January saw a 69% increase in TVL. The MANTA token has an annual inflation of 2% and there is no major token unlocking. All the more reason for the token price to continue rising. Definitely one of the hot altcoin projects for this month.
Leading altcoin rival Solana (SOL) is also on the list
What’s a crypto story without the kid coming back now? Yes, I’m talking about Solana. There’s a lot going on in Solana right now. There are many meme coins that are doing well. There are also plenty of jump shots to come your way in Solana. For example, mockJUP and WEN are test airdrops for the main JUP airdrop on January 31st. Both tokens are doing well. The WEN airdrop was of the same value for each qualified wallet.
Currently, its value ranges from $80 to $100 with further upside potential. Another big bullish narrative in crypto is revival. EigenLayer on Ethereum started all this. However, Picasso had already introduced restaking to Solana. You can recreate jitoSOL and mSOL. This is something to consider. Solana’s TVL is also impressive. It continues to grow. Currently, Solana ranks 5th with a TVL of $1.6 billion. This represents a 29% increase in TVL compared to January.
Celestia (TIA) comes in last place
TIA token is slowly rising towards its ATH on January 15. This was $20.15. Its current price is $18.48. Celestia is a modular Blockchain that offers DA or data availability. Many blockchains are migrating to Celestia because it lowers gas costs.
I mentioned an example earlier. Manta Network has saved $1.4 million since mid-December. Now Lyra has moved to Blockchain. This is also an option DEX. Their migration resulted in a 10-fold savings on gas costs. This is the result of 1 week from January 22nd. Aevo is the next L2 to migrate to Celestia. This is an option and implements DEX. They are also looking for lower gas fees. Starknet is also integrating with Celestia. Plume Network, which is active in the RWA space, is another blockchain that is making the switch. Looks like Celestia is warming up. More and more Blockchainers are seeing what benefits Celestia can bring to them. This will be reflected in the TIA token price.
The opinions and predictions in the article belong to the expert and are definitely not investment advice. We recommend that you do your own research before investing.
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