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Three altcoins, ONDO, SOL, and SUI, have surged in the 2024 bull cycle. ONDO, for instance, has gained nearly 1,000% in 2024, considering the initial rally phase in the year’s first quarter and the recent surge in the last quarter of 2024. SOL and SUI exhibited similar trends. However, SOL gained over 1,500%, while SUI’s rally reflected a 1,364% yearly gain.
Despite their massive gains, many analysts expect these cryptocurrencies to grow more in the coming months. Users predict ONDO, SOL, and SUI to remain bullish and be among the top cryptocurrencies of the upcoming altcoin season.
ONDO: DeFi Powerhouse
ONDO is a decentralized finance (DeFi) coin that powers the Ondo Finance ecosystem. It is a governance token for the Ondo DAO democratized governance network to enable democratized access to institutional-grade finance. The Ondo project received significant adoption following the growth of the DeFi sector.
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Data from CoinMarketCap show that ONDO holders cut across retailers and whales, suggesting prolonged stability of the cryptocurrency. The data shows that 51.84% of existing ONDO addresses hold between 0 and 1,000 tokens, while 46.95% hold between 1,000 and 100,000 tokens. Only 1.21% of ONDO addresses hold above 100,000 tokens.
Solana’s Comeback
Solana recovered from the post-2021 bear market to become one of the most bullish cryptocurrencies for 2024. The blockchain’s scalability feature endeared it to many DApps developers, leading to an influx of decentralized projects building on the platform. The heightened adoption affected SOL’s growth, leading to a total recovery and a new all-time high of $264.63.
Many analysts believe Solana’s adoption rate will continue, given the influx of users into the crypto industry and the planned implementation of a friendly regulatory structure by the U.S. SOL traded for $209.85 at the time of writing after bouncing off a $199.21 low.
SUI’s Impressive Growth
SUI’s trajectory impressed many of the blockchain’s supporters, considering how the cryptocurrency surged from its early days. The relatively new crypto rallied into the beginning of 2024 before declining in the middle of the year. However, SUI rediscovered its bullish momentum to embark on a Solana-like rally.
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Known for its scalability, the Sui blockchain attracted many DApps, positively affecting its native cryptocurrency, SUI. Many analysts believe the trend will continue, given the growing need for scalable solutions. SUI traded for $4.56 at the time of writing, according to data from TradingView.
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