Solanas most popular memecurrency, Bonk (BONK), faces a price trend reversal after a phased market correction, which has sent it down 46% in the last two weeks. However, BONK is on the up again, as the daily upswing of 24% puts the dog-themed coin at the top of the gainer list.

BONK soared past the key resistance at $0.000015, previously analyzed by veteran crypto traders as the make-or-break area. At press time, BONK trades at $0.00001644, according to CoinGecko. Following BONKs rollercoaster ride after being listed on top crypto exchanges Coinbase and Binance, the token inked 263.5% monthly gains.

The resurgence of BONK, which was released on Christmas Day 2022, has been one of a kind.

After a monumental 3,000% run in early January 2023, BONK quickly faded from mainstream crypto talk and nearly fell out of the TOP 1,000 by global market capitalization. Then, from trading at eight million total market capitalization in October, the token quickly scooped $2 billion market capitalization upon Solanas revival. While its true that the $2 billion all-time high was cut in half in just three days, BONKs revival points to a couple of on-chain factors hinting that the memecoin is here to stay.

Firstly, BONK has garnered a strong presence in major exchanges. For instance, BONKs Coinbase trading has topped Dogecoin (DOGE) and Shiba Inu (SHIB) in trading volume on the top American crypto platform. BONK also overtook popular altcoins like XRP and ADA with $69,609,592 trading volume today, encompassing 2.57% of Coinbases total daily trading volume.

Secondly, the inclusiveness of BONK in Solanas community has been mutually beneficial. Solanas SAGA Web3 phones flew off the shelves in the United States amid BONKs run to TOP 50 by global market cap. The phone was resold at ten times its original price, and SOL embarked on a yearly high of $123 on Boxing Day.

Memecoins can spread awareness about crypto adoption and blockchain technology, as memecurrencies appeal to the public and are often used to strengthen crypto communities.

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Why Solanas BONK Arises as Top Gainer Amid Altcoin Cooldown - DailyCoin

The cryptocurrency market has seen a generally bullish year, but certain crypto assets such as Shiba Inu (SHIB), XRP, Mina Protocol (MINA), Toncoin (TON) and Cronos (CRO) have caught the eye due to their impressive metrics and potential for growth.

The Crypto Basic carried out an evaluation of these cryptocurrencies, considering their price movements this year, tokenomics, technology, and social bearing. These factors appear to bode well for the crypto assets in question, eliciting their inclusion in our list of top 5 altcoins to watch.

Shiba Inu might not be the largest asset in the memecoin category, but it appears to command the largest community. Launched in August 2020 by the pseudonymous Ryoshi, the crypto token is gradually transitioning from a memecoin to a decentralized ecosystem.

This ecosystem, championed by lead developer Shytoshi Kusama and a team of others, involves multiple projects, including the Shiba Inu Metaverse, ShibaSwap, Shibarium and Shib Name Service.

The ongoing development of the Shiba Inu ecosystem is poised to introduce greater demand and adoption for the SHIB token. The ecosystem also contributes to token burns. These contributions have triggered renewed interest in Shiba Inu, making it one of the hot choices for the future.

SHIB currently trades for $0.00001053, having retained a foothold above $0.00001. SHIBs technicals are mainly bullish, with a robust support stationed at $0.00001023.

SHIB has maintained a 14-day RSI of 55.85 despite the latest uptrend, with a 71% bullish sentiment. The token faces possible resistance at $0.00001088.

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Being the native token of the XRP Ledger (XRPL) comes with its perks, and XRP has continued to welcome these advantages. XRP was originally designed to power the XRPL, but it has grown to become one of the most attractive investment options for crypto enthusiasts.

The token became the subject of a lengthy litigation between the U.S. SEC and Ripple from December 2020 until recently. A pivotal ruling determined that it is not a security, as alleged by the SEC.

This decision positions XRP as the only altcoin with legal clarity in the U.S., making it a unique investment choice. XRP has underperformed since the start of the latest market-wide uptrend, but this pattern preceded a substantial upsurge for the asset in 2017.

Historical precedence has kept optimism in XRP alive, with market participants banking on its legal and regulatory clarity. XRPs fear and greed index currently stands at 65, indicating greed, as investors remain confident in the assets future trajectory.

XRP boasts 18 green days over the past month. Sentiment surrounding the asset is 54% bullish, as it changes hands at $0.6249. XRP trades slightly above its 50-day EMA ($0.6224) and way above its 200-day EMA ($0.5546).

Mina Protocol stands out as a minimal succinct blockchain with a focus on privacy and accessibility. Utilizing zero-knowledge proofs, it allows users to interact with decentralized applications (dApps) without compromising personal data.

The team behind the project has continued to push for more innovation, making MINA its native token an attractive asset for the future. One of these innovations is the Mina-Ethereum Bridge, which enhances cross-chain communication.

MINA, the native token, plays a crucial role in securing the network and enabling access to dApps. Its notable price performance has caught the eye, as it recently clinched a 19-month high of $1.48. Investor confidence is high, with technicals presenting a bullish setup.

Currently, MINA trades for $1.439 with a market cap of $1,478,288,672, MINA has rallied 8% over the past 24 hours, breaking into the top 60 among the largest crypto assets, as it retains the 56th position. 24-hour trade volume currently sits at $177,451,497.

Toncoin, native to The Open Network (TON), boasts features like speed, compatibility, and flexibility. Originally manned by Telegram, the social media platform abandoned the project following regulatory issues with U.S. authorities.

A group of independent developers took over the Open Network, and has continued to push for its development. The projects roadmap includes the launch of initiatives like TON Bridge and TON Swap. The Toncoin Incentive Program, a collaboration with Blockchain.com, further encourages user engagement.

TON, the token driving the network, has demonstrated impressive price performance, currently trading for $2.40 amid a 5.79% rise in the last 24 hours. The ongoing development of the network has positioned TON as a potential contender in the next bull market.

Cronos Chain, developed by Crypto.com, distinguishes itself through scalability and speed. Key developments such as the Cronos-Ethereum Bridge and Cronos Rollups, signify its commitment to advancing blockchain technology.

CRO, the native token, facilitates network security and access to a variety of applications. The token has demonstrated impressive price performances in the past, rallying to the all-time high of $0.9698 in November 2021.

Cronos was one of the biggest beneficiaries of the 2021 bull market. As a result, some market watchers project it to perform well in the upcoming bull run, as Crypto.com continues to command more user participation.

The crypto token has consolidated for most of the month, but this consolidation comes after a massive 94% surge in October. CRO currently commands bullish sentiments, with its FGI currently at 65.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basics opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Top 5 Altcoins to Watch: Shiba Inu, XRP, Mina Protocol, Toncoin and Cronos - The Crypto Basic

Solana (SOL) took the crypto world by storm throughout November and early December, with incredible gains of over 490% that helped push the token to a high of $125.65.

However, since that peak, SOL has struggled to regain momentum, prompting some investors to ponder whether the tokens rally is finally over.

With SOL closing in the red for three consecutive days, its now trading at around $105.80, marking a 16% decrease from Mondays price.

This retracement comes as trading volumes and hype have cooled off following the buying frenzy over the past 12 weeks.

From a technical perspective, Solana had become massively overbought by mid-December.

The RSI reached peak levels above 85 on the daily time frame, indicating that a correction was looming.

Now that the RSI has normalized back to 65, SOL may find support around the $100 level, which is seen as a crucial psychological barrier.

If the bearish trend persists, SOLs 50-day exponential moving average (EMA) near $75 may act as a support level.

A by-product of Solanas dip is that Binance Coin (BNB) has flipped SOL in market cap to become the worlds 4th largest cryptocurrency.

Daily spot trading volumes have also taken a slight hit suggesting that investors are reassessing their positions.

While Solana struggles, its main rival, Ethereum (ETH), has started gaining bullish momentum.

ETH has climbed over 7% in the past few days to around $2,340, significantly outperforming SOL during the same period.

As a result, the SOL/ETH pair has dropped sharply, suggesting that traders are rotating capital out of SOL and into ETH.

This rotation again raises questions about Solanas ability to maintain strength as Ethereum recovers.

Adding further pressure is the decline in Solanas total value locked (TVL), which has dropped by around $100 million since December 26, according to DeFiLlama.

With less SOL locked into ecosystem apps, more supply is freely circulating and potentially hitting the market.

This potential increase in selling liquidity is also hampering Solanas price growth.

Regardless, many traders believe that the current pullback is only temporary and that SOL will regain its footing once the market sentiment shifts.

As Solana loses steam, the timing may be right for a new player to emerge and captivate the crypto community.

One project aiming to do just that is the ambitious Bitcoin Minetrix (BTCMTX) project, which seeks to shake up the crypto mining scene.

Bitcoin Minetrixs main feature, Stake-to-Earn, allows everyday investors to participate in BTC mining without advanced hardware or technical expertise.

This is achieved by investors staking BTCMTX tokens to earn cloud mining credits, which can be used to mine BTC virtually or exchanged for a share of the associated mining yields.

On top of that, Bitcoin Minetrix also has a staking protocol offering yields of 95% per year, paid out in BTCMTX tokens.

These two lucrative earning mechanisms make Bitcoin Minetrix an exciting new entry to the crypto space.

As disillusionment with Solana sets in, Bitcoin Minetrix could attract investors searching for alternative tokens with clearer prospects.

Although still in its presale phase, Bitcoin Minetrix has already secured over $6.6 million in funding.

Stage 16 of the presale is ongoing, allowing early investors to buy BTCMTX tokens for $0.0125 before their exchange debut.

More than 7,900 people have joined Bitcoin Minetrixs Telegram channel, showcasing the significant community interest in the project.

In summary, as SOL experiences a downturn, Bitcoin Minetrix appears well-positioned to capitalize, thanks to its innovative blend of crypto mining and DeFi tokenomics.

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Is The Solana Price Rally Over? SOL Growth Stalls as New Altcoin Sees Promising Growth - CryptoPotato

The cryptocurrency market is concluding 2023 on a high note, marked by Bitcoin (BTC) taking the lead. The pioneer cryptocurrency has surged, breaking the $40,000 resistance zone, and there is anticipation that the gains will likely extend into the new year, especially with catalysts such as potential spot exchange-traded fund (ETF) approval and halving.

With Bitcoin predominantly in the green zone, attention has shifted to altcoins and their potential to rally. Its worth noting that Bitcoin gains often influence the overall market, and several altcoins are presenting investment opportunities moving into 2024. In this regard, Finbold has identified the following altcoins worth watching in 2024.

Solana (SOL) is currently on a bullish run following its surge past the $100 mark. These gains underscore Solanas resilience in navigating the 2022 bear market, during which the crypto faced the threat of significant devaluation due to its association with the collapsed FTX crypto exchange.

While Solanas upward trajectory aligns with overall market sentiment, the rally is also linked to selling Saga phones loaded with BONK airdrops. The resulting frenzied selling has positively impacted onchain metrics.

For instance, as of December 24, the number of active Solana network addresses surged by almost 50% compared to November, reaching over 15.6 million. At the same time, the total locked value on the Solana network has soared, reaching the $1.5 billion mark on December 26.

These factors have contributed to a year-to-date surge in SOL gains, surpassing 750%, with most of this growth occurring in the last two months alone. Notably, buying pressure has remained robust despite substantial selling pressure from the bankruptcy estate of the FTX crypto exchange, which held billions of dollars worth of SOL.

Looking ahead to 2024, Solana retains key fundamental elements poised to fuel a sustained price rally. Its appeal lies in high-speed transactions and low fees, positioning the platform as a competitor to Ethereum. However, its important to note that SOLs progress will depend on other factors, such as the general market trajectory.

By press time, SOL was valued at $116, with weekly gains of almost 50%.

In recent months, Polkadot (DOT), an open-source protocol, has emerged as a standout altcoin aiming to break the crucial $10 resistance zone. Notably, the tokens gains are accompanied by impressive on-chain metrics, including a surge in network activity that has boosted blockchain revenues.

As of December 21, Polkadots relay chain achieved a significant milestone with one million transactions in a single day. This surge in activity is attributed to inscriptions, which, similar to Bitcoins Ordinals, serve as data embeds. Since their launch this year, inscriptions have proven to be a driving force behind on-chain transactions and revenue.

In addition to its on-chain success, Polkadot is positioned for potential further growth with recent partnerships. The network inked a deal with a division of Deloitte. Under this collaboration, the firm will leverage the Polkadot-based Kilt blockchain to provide logistics and supply-chain services focused on the shipping industry.

While the surge in transactions aligns with the current growth in DOT prices for 2023, concerns have arisen about inscriptions potentially causing network congestion. Critics argue that inscriptions may act as network spam, dissuading users due to associated increases in transaction fees.

The sustainability of inscriptions and their potential to attract more users remains uncertain. Nevertheless, Polkadot has thus far demonstrated its ability to manage the increased transaction volume.

Enthusiasm is building within the community for the imminent technological advancements set to enhance the Polkadot ecosystem. Notably, the highly anticipated milestone is the debut of Polkadot 2.0, ushering in parachains, cross-chain compatibility, and on-chain governance to the ecosystem. Of utmost significance, Polkadot 2.0 will elevate the networks consensus mechanism to Nominated Proof of Stake (NPoS), promising heightened security and governance capabilities.

By press time, DOT had recorded weekly gains of almost 35%, trading at $9.12.

The value of XRP has largely remained consolidated despite the legal clarity declaring the token not a security in the Securities and Exchange Commission (SEC) case against Ripple. Indeed, insiders in the XRP community have questioned the price trajectory, terming it as very strange.

Despite the apparent stall in price, XRP has several bullish elements likely to spur a price rally in 2024. As reported by Finbold, XRP has the potential to rally past the crucial $1 mark in 2024, driven by factors such as an overall bullish pattern on the XRP chart and the potential for an initial public offering (IPO) for Ripple.

In the meantime, the progress in the SEC case will likely play a crucial role in determining how XRP moves, with possible appeals currently in consideration.

Nevertheless, from a technical standpoint, despite facing two significant rejections at $0.7, the XRP chart displays a pattern of sideways consolidations linked to increased holder behavior.

Notably, if XRP manages to breach the current minor resistance at $0.65, there is potential for a surge beyond $0.8, with a subsequent target surpassing $1.

As of press time, XRP was valued at $0.63 with daily losses of about 1.5%, while on the weekly chart, the token has slight gains of about 1.6%.

While the highlighted cryptocurrencies exhibit potential underlying bullish scenarios, it is crucial to note that they remain susceptible to overall market sentiment, as well as external factors such as regulatory changes.

Disclaimer:The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.

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Top altcoins to watch in the crypto market in 2024 - Finbold - Finance in Bold