An alt season is a period of strong growth in the Altcoin markets that usually takes place after the Bitcoin halving. In the current Bitcoin cycle of 2024, we expect the alt season to hit the markets sometime in late 2024 and early 2025.
In this article, we have chosen the top 5 cryptocurrencies that can shoot to new highs from five crypto sectors: large caps, Memecoins, Staking and deFi, Layer-1 Chains, and Layer-2 markets. According to our view, the top cryptos in these markets are Ethereum, Shiba Inu, LidoDAO, Solana, and Polygon.
1. Ethereum (ETH)
Ethereum remains a critical player in the crypto ecosystem and is currently in an oversold region, suggesting it may experience a strong rebound if market conditions turn slightly bullish. As the leading platform for decentralized finance (DeFi), decentralized applications (dApps), and numerous layer-2 and layer-3 solutions, Ethereum’s central role positions it for significant gains during the next bull run. Its smart contract capabilities, developer community, and future upgrades, such as Ethereum 2.0, continue to make it a solid long-term investment.
2. Shiba Inu (SHIB)
Despite being a memecoin, Shiba Inu has shown resilience in a bearish market, indicating the potential for a sharp recovery. If market conditions improve, Shiba Inu could surpass its 2024 highs and further cement itself as a leader among memecoins.
Its robust community support and ambitious roadmap, including potential use cases within decentralized ecosystems, make it an interesting speculative play in the medium to long term.
3. LidoDAO (LDO)
LidoDAO is a significant player in the Ethereum staking landscape, controlling 28.5% of the Ethereum staking market. As a decentralized autonomous organization (DAO), LidoDAO provides governance over a $9.5 billion staking platform, offering a unique investment opportunity for those seeking exposure to Ethereum staking rewards.
Lido’s growing dominance in the staking sector, along with its decentralized governance model, makes it a strong contender for future growth as Ethereum’s proof-of-stake model continues to evolve.
4. Solana (SOL)
Solana is a highly scalable blockchain with a strong presence in the DeFi space. It supports the second-largest memecoin market outside of Ethereum, with a total market value of $6 billion. Solana’s infrastructure allows for faster transactions and lower fees compared to Ethereum, making it a popular choice for decentralized applications. With its expanding ecosystem and DeFi offerings, Solana is well-positioned for significant gains during the next alt season.
5. Polygon (POL)
Polygon has emerged as a leader in layer-2 scaling solutions, especially in the zero-knowledge Ethereum Virtual Machine (zkEVM) sector, which enhances Ethereum’s scalability and privacy. Its strong institutional partnerships, coupled with its technological advancements, give it a competitive edge.
As Ethereum’s network continues to grow, Polygon’s ability to provide efficient scaling solutions makes it a potentially lucrative investment during the next market rally.
