As year 23 draws to a close, cryptocurrency participants will enter the new year on a positive note, driven by a number of developments. Among them, the approval status of spot Bitcoin and Ethereum ETFs, the BTC halving event are the main catalysts, while the high probability of a rate hike by the Fed in 2024 is seen as an off-market trigger. While these are considered positive developments for the altcoin market, there are bullish expectations for many altcoins in 2024. Among these altcoins, we focused on 3 altcoins that can make significant gains.
In the last bull season, it gained a significant 4900% from the price level at which it was launched, rising up to $ 146. AVAX, which gave back a significant portion of its gains during the bear market, increased its value by 400% in a short time after breaking the long-term downtrend with the general uptrend that started in October.
The Avalanche team, which continued to work hard during the bear market, developed and implemented the subnet system in this process. This proved to be an important catalyst, with several corporate companies opting for the Avalanche network amid their efforts to offer services for Blockchain technology.
Throughout 2024, the Avalanche network, which has also gained an important place in the gaming industry, is likely to continue its upward trend as its subnets begin to be used more effectively.
Arbitrum (ARB)Arbitrum
ARB, which was launched in March this year, is among the altcoins issued after the last bull season and has the potential to have a value increase above the market average in the upcoming bull season.
ARB has emerged as an important tier-2 project while taking its place among the top 50 cryptocurrencies in a short time. ARB, which managed to break its downtrend as of last month, is trying to overcome a critical resistance level of $ 1.41 at the end of the year, while a possible breakthrough could be a trigger for the altcoin to increase its momentum in 2024.
Thus, we can see that ARB could break its ATH at $1.81 in a short period of time, offering a solid earning opportunity.
Render (RNDR)Render
RNDR, which started to be listed on major crypto exchanges last year and entered a downtrend due to the bear market, has performed impressively throughout 2023, reaching a 1000% increase in value.
Operating in a niche sector of the cryptocurrency industry, Render operates as a GPU rendering network that connects developers in need of GPU processing power with rally partners.
We can see that RNDR, which is among the altcoins that have the potential to continue its trend in a possible altcoin rally in the period when expectations for the cryptocurrency market remain positive, can continue by renewing its record level throughout the year.
