The cryptocurrency market goes through multiple cycles over the span of a year. Every market cycle shuffles the altcoin hierarchy, bringing new altcoins into the limelight. The recent boom in the crypto market has induced considerable bullish momentum and an overall positive sentiment.
As we head into the second quarter of 2024, NFT Finance (NFTFN), Hedera (HBAR), and VeChain (VET) have emerged as promising altcoins poised for a rally. Some believe that the growth prospects of NFTFN, HBAR and VET can potentially help them become the next Cardano (ADA).
Hedera (HBAR)
Hedera Hashgraph has emerged as an alternative to traditional blockchain platforms, offering security, and speed. The Hashgraph consensus algorithm allows Hedera to offer faster transactions, positioning itself as an enterprise facing public network and allowing businesses to create decentralized applications (dApps).
HBAR, Hedera Hashgraph’s native crypto, is currently trading at $0.10, with a market capitalization of over $3.6 billion. HBAR has rallied more than 37% in 2024, reaching as high as $0.13. With its emphasis on smart contracts, network security and file storage, HBAR is a notable contender to become the next ADA in 2024.
NFT Finance (NFTFN)
NFTFN is a leader in the web3 fintech space that aims to tackle the various challenges surrounding the NFT market. With revolutionary products like SuperNova (SNV), the project makes premium NFTs accessible to a wider range of investors to create an inclusive trading ecosystem. NFTFN previously raised $500k from investors including Polygon, Chingari and Alpha Wave Global.
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NFTFN is currently available for just $0.03 via its ongoing presale, which has generated considerable buzz in the crypto community. As an NFT-centric token, NFTFN is poised to capitalize on the explosive growth of the NFT market, which is projected to reach $230 billion by 2030. NFTFN’s compelling growth potential have put it on track to become the next ADA in the coming months.
VeChain (VET)
Since its launch in 2015, VeChain has carved a niche for itself in the crypto market by catering to the supply chain management sector. VeChain’s blockchain platform aims to revolutionize supply chains by offering secure tracking of goods and data. The project boasts partnerships with global brands like BMW and Walmart.
VeChain’s native token VET has surged more than 33% since the beginning of the year. VeChain has benefitted from the growing demand for transparency in data integrity in supply chains. With the supply chain industry estimated to reach a whopping $45 billion in the coming years, VET is poised to experience significant growth and potentially become the next ADA.
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The post 3 Altcoins to Watch in 2024: Could These Cryptos Be the Next ADA? appeared first on Crypto News Land.
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