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Solana (SOL) was one of the best-performing coins toward the end of 2023. In fact, out of all major altcoins, it was the most reliable for consistent gains from October onwards. This culminated in a year and a half high right around Christmas time.
Since then, SOL has tailed off a little and looks like its price is now correcting, so investors are wondering where to turn next for big gains. We found the 5 best alternative projects to invest in right now. All of them are presale tokens that are set for a big 2024:
So, what are we waiting for? Let's see why these projects are worth investing in!
One of the more exciting projects that 2024 is going to give us is Bitcoin Minetrix (BTCMTX). The presale of this coin has already raised over $8.6 million so clearly, we are not alone in thinking this. The main selling point of the project is it offers a better way to mine Bitcoin.
At the moment, Bitcoin is mined at an enormous scale. It takes place in data centers that require a small town's worth of energy to run. Of course, this was never how it was intended to be mined when it was first founded and it has cut out the majority of its followers from ever being able to partake in the mining process.
Bitcoin Minetrix has found a way to bring them back in the loop and it's by combining cloud mining and staking. Once investors stake their BTCMTX, they can exchange them for mining credits. These credits are then burnt in exchange for mining time or a share of the yields. It's not only a cheaper and greener way to mine Bitcoin but it's also safer for investors as they are in control throughout.
This next alternative to Solana is a bit of a cheat code, as it has already had a coin that was a huge success in 2023. Sponge V2 ($SPONGEV2) is the second coming of Sponge Token ($SPONGE), which was one of the most successful meme coins of last year. Sponge V2 now has the opportunity to build on its success.
This is particularly important because Sponge Token succeeded in spite of its circumstances rather than because. It launched with little or no publicity in a bearish market on a solitary exchange. One of these would be enough to ruin most coins. However, Sponge Token managed to pump 340%, get added to 9 exchanges, and even grow a substantial social media following.
The project has also created an innovative bridge to link both tokens, a stake-to-bridge in fact. Investors will first need to purchase and stake $SPONGE first, however, once they do an equivalent amount of $SPONGEV2 will also be purchased and locked for them. Investors will then receive staking rewards from their locked V1 tokens over 4 years.
Some might think that the title of this section is a little ambitious but this P2E/meme coin crossover does look like it will be huge. Meme Kombat ($MK) has already raised just short of $7 million, which is a great achievement for a P2E game.
As many readers may have already gleaned, the game takes inspiration from the cult classic combat game; Mortal Kombat. Except in this game, players will be fighting using the biggest memes of the last 10 years. AI is a big factor in our belief in this project so much as it really does look like it will provide an awesome gaming experience.
It also helps make sure fight outcomes are decided fairly. This is important because players will actually be able to win big by wagering on the outcome of fights. Bet against the computer and other players, or even side bet on fight events if you want to mix it up. There's just some much entertainment crammed into one game that's why we think it's a great Solana alternative.
We are now about to enter the last week of the Launchpad XYZ (LPX) presale and potential investors should be scrambling to get involved now before it pumps once its listings begin. The Web 3.0 platform aims to give its users a place to go for everything to do with the new technology.
They realize that Web 3.0 is new and constantly updating and not everyone is an expert on it. From beginners to experts they want to be the platform of choice when it comes to everything from what Web 3.0 project to invest in to what is the best Web 3.0 game to play.
If you are not convinced yet, just look at some of the results the Telegram group has already had. They advised traders to buy Elon 2.0 right before it pumped and also forecasted Bitcoin would drop in price right before it did last year.
We mentioned in our Meme Kombat review how we think that P2E games are due for a comeback in 2024. Another one likely to pump is Pikamoon (PIKA). It has followed the tried and tested route of taking inspiration from a very successful traditional game in the hopes of drawing in new players to blockchain gaming.
Pikamoon, of course, is based on Pokemon, and just like in that game, you can travel around to different worlds battling and collecting unique creatures. You will start the whole process by minting your own NFT partner and can then earn in-game currency completing tasks.
So there you have our list of the 5 best alternatives to Solana to invest in for 2024. As you can see they are all presale projects with unique properties that make them likely to see big gains once their listings begin later this year.
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.
