3 Overlooked Cryptos That Could Eclipse Bitcoin (BTC)

It’s been a groundbreaking year for the cryptocurrency landscape. After accepting 11th place Bitcoin (BTC USD) ETFs, cryptocurrency has taken a big step towards mainstream acceptance.

Cryptocurrency had a groundbreaking year in 2024.

The approval of several Bitcoin (BTC)-related exchange-traded funds (ETFs) brought digital assets a step closer to mainstream acceptance. This, coupled with the long-awaited Bitcoin halving in April, led to a lot of optimism about the growth prospects of the entire crypto ecosystem.

However, despite the positive news, cryptocurrency markets have been relatively subdued in recent months.

July saw more volatility with the German government selling around $75 million of its Bitcoin holdings. Plus, there was fresh market unrest when the defunct crypto exchange Mt. Gox began repaying its creditors.

Similar to the world of forex trading, market impact can be a significant factor in the cryptocurrency landscape. Heavy inflows and outflows will inevitably affect prices if investors do not take into account the effects of trades. This can bring short-term risks and opportunities for discovering new investment opportunities in cryptocurrencies.

These events have caused the value of Bitcoin and the many other overlooked cryptos to change significantly in 2024. After hitting an all-time high of $73,737.94 in March, Bitcoin has since fallen more than 20% from its peak.

Market analysts continue to expect a crypto bull run later this year, with historical trends pointing to market-wide rallies in the wake of the Bitcoin halving. But could Bitcoin’s recent volatility lead to new, overlooked cryptos becoming the world’s strongest crypto asset? These three overlooked coins could provide the functionality to eclipse Bitcoin a little later:

Solana (SOL-USD)

When it comes to measuring the blockchain frameworks that support cryptocurrencies, Solana (SOL USD) stands above the competition. Although its market cap is smaller than Bitcoin, its functionality is immeasurably greater.

Solana’s high June sentiment score of 77 illustrates Solana’s strong support and positive impression in the crypto market.

What makes Solana so great? It has the fastest proof-of-stake blockchain in the world. It has also successfully overtaken ether (ETH-USD) for functionality with its own proof-of-history framework. This helped Solana process transactions around 46 times faster than Ethereum and five times faster than its nearest competitor, Polygon (MATIC USD).

With a market capitalization of around $65 billion, Solana is one of the five largest cryptocurrencies in the world. However, its size is still only about 5% of that of Bitcoin. With far faster transaction speeds and the seamless ability to integrate Web 3.0 elements like NFTs into its framework, Solana has everything it needs to one day become bigger than Bitcoin. It could even make up ground against its counterpart in the next bull market.

Avalanche (AVAX-USD)

The global blockchain financial market is expected to reach a size of $80.02 billion by 2032 — a CAGR of almost 29%. This highlights the role blockchain will play in the future of open finance avalanche (AVAX-USD) is likely to be a key component of this development.

Despite the widespread volatility in the cryptocurrency market, whales have been busy buying AVAX in large quantities. Over a period of 24 hours up to AVAX valued at $139 million was acquired by addresses linked to whales, representing the opportunity value among the largest market participants.

Crucially, Avalanche is a major name in smart contracts – an important financial instrument in the age of Web 3.0.

Smart contracts use blockchain technology to automatically execute transactions based on the fulfillment of predetermined requirements. This means complex deals can be brokered between institutions without the need for intermediaries and costly administrative processes.

As the era of open finance continues to grow, we can expect Avalanche to lay the foundation for innovation in the industry and drive the growth of the blockchain finance market long into the future.

Cardano (ADA-USD)

Another option for overlooked cryptos is Cardano (ADA USD), which will grow amid the open finance boom. Known for enabling peer-to-peer transactions through its internal cryptocurrency, Cardano can help revolutionize the lending landscape in the age of Web 3.0.

To further facilitate this, the cryptocurrency is undergoing scrutiny Chang hard fork update in the coming days. This signifies the project’s transition into its Voltaire era, ending with the construction of a fully decentralized blockchain ecosystem.

This illustrates the ambition of Cardano and its viability as a fully functional cryptocurrency in an ecosystem ripe for innovation.

Although the coin’s $13 billion market cap is just over 1% of Bitcoin’s size, the realization of Cardano’s ambitious goal could lead to an exponential rally in ADA. As the Web 3.0 revolution looms, Cardano, like Solana and Avalanche, could reap the rewards of decentralized finance and pose a challenge to Bitcoin’s market dominance.

For investors, tracking these innovative assets

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