What is an altcoin?
An Altcoin is any cryptocurrency other than Bitcoin. These alternative coins were developed to offer features or capabilities that differ from the original design of Bitcoin.
Common examples include:
Ethereum, Ripple, Cardano, Solana Etc. During the altcoin season, these tokens experience significant price increases, often outperforming Bitcoin. This usually happens when investors seek potentially higher returns by diversifying their crypto holdings away from Bitcoin.
Discover other cryptocurrencies with high potential
Top 9 Altcoins to Buy – June 2024
Ethereum (ETH) – Overall the best altcoin to buy
Market cap: $463.33 billion
Price: $3,700.99 (-2.13%)
Ethereum is the best altcoin to buy in June 2024 due to its innovation, widespread use cases and strong community. As the leading smart contract platform, Ethereum powers many decentralized applications (dApps) and decentralized finance (DeFi) projects, making it indispensable in the crypto ecosystem. Recently approved Ethereum ETFs encourage increased investment and adoption. These ETFs provide new avenues for institutional investors and increase the flow of capital into Ethereum. Experts predict a supply shock in the coming months. Additionally, its move to Proof-of-Stake (PoS) consensus through Ethereum 2.0 improves scalability and energy efficiency, cementing its position as a top investment choice.
Binance Coin (BNB) – Best for integrated exchange features
Market cap: $103.82 billion
Price: $684.59 (-2.97%)
Binance Coin is one of the best altcoins to invest in due to its strong integration with the Binance Exchange, the largest global cryptocurrency trading platform. BNB offers significant benefits such as reduced trading fees, access to an exclusive token sale through the Binance Launchpad, and cashback on Binance Visa purchases. Its extensive ecosystem and consistent adoption make it a durable investment choice. The market resilience and liquidity of BNB are supported by its use on the Binance Smart Chain (BSC), which supports a wide range of dApps and DeFi projects. BNB has surpassed Ethereum regarding unique addresses, showcasing its growing user base and robust community support. The coin’s integration into the Binance ecosystem ensures continued relevance and utility, making it a prime candidate for investors looking for stability and growth.
Chainlink (LINK) – Oracle’s best network
Market cap: $10.21 billion
Price: $16.42 (-5.01%)
Chainlink is a top altcoin to invest in right now, thanks to its innovative Oracle technology and widespread adoption. As the leading decentralized network, Oracle Chainlink securely connects smart contracts with real-world data, improving the functionality of blockchain applications in various sectors. Chainlink’s Cross-Chain Interoperability Protocol (CCIP) and recent partnerships with major firms such as BlackRock highlight its growth and utility. Its strong community, market resilience and expanding use cases make it a robust investment. With tokens trading at $16.42, Chainlink shows strong bullish momentum and significant future potential.
Solana (SOL) – Best for high-speed transactions
Market cap: $79.52 billion
Price: $162.58 (-4.60%)
Solana is known for its fast transaction speed and low fees. The network can handle over 2,000 transactions per second, which typically cost less than $0.001 per transaction, significantly surpassing Ethereum’s 30 transactions per second. The Solana ecosystem is rapidly expanding to support various applications such as DeFi, non-fungible tokens (NFTs) and games. Solana’s robust infrastructure and strong community acceptance make it a compelling investment. Over the past year, Solana’s price has increased by +753.26%, underscoring its market resilience and high yield potential.
Avalanche (AVAX) – Best for customizable blockchain networks
Market cap: $14.41 billion
Price: $33.52 (-7.31%)
Avalanche is one of the best altcoins to buy right now due to its advanced technology and expanding ecosystem. Known for its Avalanche Consensus, it offers high transaction speed and energy efficiency. This layer 1 blockchain supports customizable blockchain networks, making it ideal for decentralized applications and smart contracts. AVAX’s strong community and robust infrastructure increase market resilience and liquidity. Recent price trends show significant gains that reflect positive market sentiment. Its innovative platform and growing adoption across the DeFi and NFT sectors make it a compelling investment.
RIPPLE (XRP) – Best for cross-border payments
Market cap: $29.15 billion
Price: $0.501 (-3.82%)
XRP is one of the best altcoins for 2024 due to its efficiency in cross-border payments. Ripple’s On-Demand Liquidity (ODL) uses XRP to facilitate instant and cheap international money transfers. This makes XRP the leader in the remittance market, attracting banks and financial institutions worldwide. In addition, Ripple’s launch of USD-backed stablecoins on the XRP Ledger will increase liquidity and introduce new use cases, enhancing the utility of XRP. These developments, combined with strong market performance and significant adoption of XRP, make it a compelling investment this year.
Dogecoin (DOGE) – The best meme coin
Market cap: $23.61 billion
Price: $0.149 (-7.09%)
Dogecoin has a strong community and wide acceptance. As the original meme coin, Dogecoin boasts significant market liquidity and resilience. It continues to attract attention for its active community and use in tipping and charitable giving. Despite the recent death of Kabosu, the Shiba Inu that inspired the Doge meme, Dogecoin remains the best choice for meme coin enthusiasts. Its consistent market performance and humorous origins set it apart from other cryptocurrencies.
Cardano (ADA) – Best for robust security
Market cap: $16.37 billion
Price: $0.450 (-1.37%)
Cardano is known for its robust security and innovative technology. It uses a PoS consensus mechanism called Ouroboros that ensures secure and energy efficient operation. Cardano’s ongoing development, including the recent Voltaire upgrade, aims to make the network fully decentralized and self-sustaining, reducing regulatory risks and enhancing long-term stability. Cardano’s strong community and adoption in dApps and NFTs contribute to its resilience and market liquidity. Its integration with various blockchains and focus on real-world use cases position it as a versatile and promising investment.
Tron (TRX) – Best for decentralized entertainment
Market cap: $10.04 billion
Price: $0.112 (-1.66%)
Tron aims to decentralize the web, providing a platform for content creators to publish without intermediaries, thereby ensuring greater profits and control. Its high throughput and scalability make it ideal for streaming, gaming and social media applications. Tron’s strong community and constant innovation, such as partnerships with BitTorrent, increase its resilience and market liquidity. Efficient and cheap transactions make the network highly attractive to developers and users.
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Disclaimer: Crypto products are unregulated as of this date in India. They could be highly volatile. At Unocoin, we understand that there is a need to protect consumer interests as this form of trading and investment has risks that consumers may not be aware of. To ensure that consumers who deal in crypto products are not misled, they are advised to DYOR (Do Your Own Research).
