Key Insights
- Bitcoin has crashed underneath the $90,000 zone over the last two weeks in a major “buy the dip” scenario.
- If you’re looking to get in on the action, Cryptos like Solana, Cardano, XRP, XLM, Avalanche, and Chainlink are the most poised to make gains this year.
- Remember to do your own research before investing in any cryptocurrencies.
- A comeback on Bitcoin could trigger a bullish rally in the altcoin market
The crypto industry is currently gearing up for a major move to the upside, with the ongoing dip.
Bitcoin has crashed underneath the $90,000 zone over the last two weeks and is giving investors one of the best buying opportunities before another push to the upside.
If you’re looking to get in on the action and buy-in before the train leaves the station, it helps to keep an eye on the right cryptocurrencies and identify opportunities early.
For this reason, here are some of the cryptocurrencies showing signs of strong momentum this year.
1. Cryptos like- Solana (SOL)
Solana has made a remarkable comeback, despite all the setbacks it experienced between 2022 and now.
The FTX collapse caused one of the biggest Solana crashes in its history, bringing its already-dipped price from around $40 to less than $10.
The cryptocurrency has made a comeback over the years, above the $200 mark, before dipping again to the $125 zone where it now sits.
Solana is known for its innovative proof-of-history consensus mechanism and is one of the fastest blockchains in the crypto industry.
Solana was also recently announced as part of the much-anticipated crypto reserve in the US, which is set to attract a new wave of investors, developers, and projects.
Solana remains one of the biggest projects most poised for growth this year and is a solid contender in the crypto space.
2. Cardano (ADA)
Cardano has a market cap of $63 billion and is one of the largest in the space.
This cryptocurrency is known for its scientific approach to blockchain technology and its emphasis on sustainability.
The cryptocurrency is one of the most promising in the space, considering how it was recently added to the US strategic crypto reserve plans alongside Solana and many others.
Cardano is targeting the $1 mark, and many analysts believe that the $2- $5 range could be in the works for the cryptocurrency once bullish momentum returns.
3. XRP (XRP)
XRP is one of the biggest cryptocurrencies in terms of institutional interest. The cryptocurrency has been experiencing more and more calls for a spot ETF offering over the past year.
Moreso, XRP stands alongside Solana and Cardano in the US’ strategic reserve plan.
Ripple, its parent company, also continues to establish itself as a major player in the crypto space.
It is the most popular crypto solution for cross-border payments and has established partnerships with firms like BlackRock, Ondo Finance, and many more.
Despite its past legal challenges, XRP has surged in value and maintained its standing above the $2 mark as more and more financial institutions integrate Ripple’s technology.
XRP is undeniably one of the projects most poised for growth.
4. Stellar (XLM)
If XRP is poised for growth, then Stellar (XLM) is as well.
This cryptocurrency is the closest competitor to XRP due to its focus on seamless financial transactions—especially across borders.
Stellar sets itself apart from other projects by allowing peer-to-peer transactions without financial intermediaries.
This makes it especially attractive for users in developing countries, where infrastructure for traditional banking is limited.
Investors looking for an alternative to XRP will also find XLM highly attractive.
Since its launch in 2014, this project has created and maintained a reputation as a user-friendly blockchain with strong partnerships.
5. Chainlink (LINK)
Chainlink is one of the strongest projects in the defi space. This is because of how deeply integrated it is with many defi applications within the space.
This protocol is the most popular decentralized Oracle network and connects smart contracts to real-world data.
$LINK therefore plays a major role in everything from lending, borrowing, trading, and insurance protocols.
Despite the ongoing price dip, Chainlink is a foundational aspect of Web3, and the need for reliable data feeds will likely drive LINK’s value higher very soon.
6. Avalanche (AVAX)
Avalanche is known for being one of the fastest smart contract platforms in the blockchain space, aside from Solana.
Aside from being fast, Avalanche is also cheap and compatible with Ethereum. This makes it a direct competitor to the king of smart contracts, and an attractive alternative for developers looking for more scalable solutions.
$AVAX has been through some heavy price volatility lately. However, analysts predict a strong recovery soon.
Some forecasts show that Avalanche could trade from its current $18 price to around $40 by the end of 2025.
This would represent more than a 50% price increase from current price levels, with Avalanche set for major gains.
Is It the Right Time to Invest?
The crypto market comes with its fair share of risks. However, the industry is currently in the middle of a major decline, with Bitcoin attempting to reclaim the $90,000 price level once again.
While all of these cryptocurrencies have shown strong growth potential this year, their future remains to be seen.
Overall, factors like adoption, regulation, macroeconomics, and market sentiment will play a huge role in how far they go over the next few months.
If you’re considering investing, remember to:
- Diversify your portfolio to reduce risk.
- Do your own research before investing in any cryptos.
- Only invest what you can afford to lose.
While many of these assets have enough potential to become the “next big thing,” others may struggle to maintain momentum.
