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Most cryptocurrency traders anticipate a significant market rally in 2024. Typically, established cryptocurrencies like Bitcoin and Ethereum would lead the rally, while other lower market capitalization cryptos make the most significant moves to deliver exceptional profits.
From recent observations, JTO, PYTH, and ENA show potential to become the breakout stars of the upcoming bull run. Although they may be relatively unknown to many crypto users, their performances in the upcoming bull run may push them into the top echelon of the highly ranked altcoins. Let’s take a look at each of them.
Despite its relatively brief existence, Jito Network (JTO) has become one of the leading contributors in the Solana ecosystem. It is a staking protocol that allows users to exchange their SOL for JitoSOL, maintaining SOL’s liquidity and earning yield from staking.
JTO has had a bullish start in the crypto market, rallying over 270% in Q1 2024 before embarking on a slight retracement, according to TradingView’s data. Many crypto users expect the rally to continue, considering JTO’s connection with one of the most promising blockchains, Solana.
PYTH Network (PYTH) also caught the eyes of several crypto traders despite losing nearly all the gains it made earlier in the year. The first-party oracle network’s native token, PYTH, gained over 430% earlier in the year but has since retraced, losing 70% of the profit.
However, several users believe the newly launched crypto would rebound and reclaim the losses. That places PYTH as a crypto token that could offer significant gains in the upcoming bull run, especially if it climbs above its current all-time high to experience new price levels.
The Ethereum-based synthetic dollar, ENA, completes the list of three crypto tokens users are looking up to for significant rallies in the coming months. The newly launched token started with an impressive 413% rally in the first two weeks.
Early profit-taking saw ENA slump by 57% before finding support. The token’s low market capitalization positions it to rally significantly with increased adoption, considering its crypto-native solution for money that is not reliant on traditional banking system infrastructure.
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