5 Altcoins You Should Keep an Eye on in April 2024
Amidst a bustling altcoin season, April unveils potential for five standout tokens. Bonk emerges as a leading Solana memecoin, while Jupiter eyes gain within Solana’s ecosystem surge. Pyth solidifies its status with robust live price infrastructure and strategic partnerships. Fetch.ai makes waves by merging with two other AI tokens, reshaping its trajectory.
Meanwhile, Ondo’s recent surge hints at growing momentum, fueled by a strengthening narrative. With bullish sentiment pervading the market, these altcoins signify diverse opportunities within the crypto space, promising exciting developments in altcoin prices and trends throughout the month.
The Bullish Case For BONK- Price: $0.0000274
- Market Cap: $1.78B
- Rank: #69
BONK is now one of the biggest memecoins in crypto. It’s currently just behind dogwifhat in the Solana ecosystem. BONK grew 84% in 2024. However, compared with other memecoins counterparts, it’s year-to-date (YTD) growth was surpassed by all the top 6 memecoins in the market today.
YTD Growth Of The Top Memecoins. Source: Messari.
From that point of view, BONK could be seen as undervalued. Today, as the second biggest memecoin on Solana, it has a market cap of $1.78B. However, the second biggest memecoin in Ethereum, which is PEPE, has a market cap of $3.38B. This indicates that if Solana continues to attract attention from memecoin traders, BONK could continue its escalation.
Read More: Which Are the Best Altcoins To Invest in March 2024?
Jupiter Can Continue Dominating The Market- Price: $1.27
- Market Cap: $1.69B
- Rank: #71
Jupiter (JUP) is the biggest aggregator on Solana, with a weekly volume of more than $10B. The platform is the dominant force in Solana trading, and its number of weekly swaps has been consistently increasing since October 2023. It recently reached a record of 15 million swaps in a single week.
Jupiter Weekly Swaps. Source: Dune.
The platform made an airdrop of its token JUP this year, distributing $700 million worth of JUP tokens to almost a million wallet holders. JUP token could continue its 151.06% growth since last month as Solana continues to be the favorite chain for new tokens, as shown in the chart below.
Share of New Tokens Appearing on DEXs. Source: The Block.
Pyth Network Is Solving a Huge Problem
- Price: $0.901
- Market Cap: $1.34B
- Rank: #87
Pyth Network (PYTH) functions as an oracle network catering to diverse blockchains, protocols, and projects in the Web3 and broader cryptocurrency sector. Oracles serve as a conduit, enabling blockchains and protocols to access off-chain data. Pyth solves the huge problem of reliable, real-time crypto data prices.
PYTH Stakers and Unstakers. Source: Dune.
Although the number of PYTH stakers is not growing as it was last month, it’s still growing at a good pace. The number of stakers is still way above the number of unstakers, showing confidence in the platform.
In a short period of time, Pyth Network was able to attract powerful players to its ecosystem, closing partnership deals with Amber Group, Binance, Galaxy Digital, and Jump.
ONDO Is Capitalizing on Real World Assets (RWA)- Price: $0.892
- Market Cap: $1.29B
- Rank: #88
Ondo Finance (ONDO) is a decentralized finance (DeFi) protocol aiming to democratize access to institutional-grade financial products and services. It achieves this by onboarding real-world financial instruments onto the blockchain.
RWA (Real-World Assets) has been one of the strongest narratives in crypto since last year, and ONDO is in the perfect position to capitalize on that. Its price grew 102.64% during the last month.
ONDO 4H Price Chart. Source: TradingView.
The company recently announced that it will move $95 million into BlackRock’s tokenized fund. Its relationship with huge players could help the confidence in ONDO grow even higher. Its EMA lines are currently extremely bullish, and we could see ONDO reaching $1 and above very soon, breaking its previous all-time high (ATH) of $0.971 on March 25.
Read More: 7 Hot Meme Coins and Altcoins that are Trending in 2024
New Altcoins to buy: Fetch.ai (FET) Will Merge Its Token- Price: $3.30
- Market Cap: $2.77B
- Rank: #51
Artificial intelligence holds significant sway in the cryptocurrency market. The concept of a “decentralized AI” to rival giants like OpenAI is gaining traction, driven by concerns over technology monopolization by a select few.
FETCH 4H Price Chart. Source: TradingView.
In response, three projects in this domain have opted to collaborate on a joint solution that will merge their tokens. Fetch.ai, Ocean, and SingularityNET have each proposed initiatives within their governance frameworks to establish the “Artificial Superintelligence Alliance.”
Pending community approval, tokens FET, OCEAN, and AGIX will transition into a new token, ASI. This entails FET converting directly to ASI, while OCEAN and AGIX holders will be able to exchange their tokens for the new currency.
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