3 Altcoins That Will Go Parabolic During the 2024 Altseason (2024)

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The 2024 bull market has been treating crypto investors very well so far. Bitcoin (BTC-USD) recently corrected to $67,000 from its all-time high of $73,000, but I believe its true peak is likely much higher. The world’s largest cryptocurrency could potentially soar up to $100,000 or more after the next halving, with other catalysts such as impending rate cuts, new spot Bitcoin ETF approvals, and increased institutional demand on the horizon. History shows that Bitcoin tends to lead each crypto market cycle, outperforming altcoins in the early stages of a rally. However, once Bitcoin tops out, we often see a shift – altcoins enter the prime time as money rotates out of Bitcoin and into higher-risk, higher-reward plays.

This stage of the market cycle is known as “altseason” – when altcoins dramatically outpace Bitcoin. Previous altseasons were legendary, with many altcoins achieving gains of 10x, 20x, or even 100x within weeks. While anything close to this is unlikely, I do believe we could see multiple altcoins go parabolic in 2024. After Bitcoin’s dominance peaks, capital will start flowing into the most promising altcoins with strong fundamentals and real-world use cases.

Of course, investing in altcoins is risky business, especially if you’re looking for home run returns. You’ll want to do your due diligence and only allocate a sensible portion of your portfolio. But with the right research and calculated risks, substantial rewards may follow. Here are three to consider right now.

Solidus AI Tech (AITECH-USD)

Solidus AI Tech (AITECH-USD) has already gone parabolic, with the token up more than 500% in just the past month alone. However, I believe there is ample room for additional upside in the coming altcoin season. Solidus has constructed an environmentally friendly, cutting-edge data center spanning 8,000 square feet in a secure European location. In tandem with this achievement, Solidus uses AITECH, “the world’s first deflationary artificial intelligence token.” AITECH can be used to facilitate payments for AI as a Service, blockchain as a service, and infrastructure as a service via Solidus’ platform.

Furthermore, Solidus plans to build an exclusive marketplace where developers can launch AI applications for end-users to license and share profits. This innovative model could be a game-changer. With a market capitalization of just $191 million, I think AITECH could reach a far loftier valuation as altseason approaches, especially as other AI cryptos trade at steeper valuations. The project has robust utility and a first-mover advantage in a futuristic field. But again, the crypto market feeds on hype, and caution is warranted with such small projects.

ONEG8 (G8C-USD)

ONEG8 (G8C-USD) is a Web 3.0 utility project that offers a fully data-private communications superstructure to rival big tech and social media. The ‘superstructure’ delivers all the benefits of modern communication technology, without sacrificing user privacy. ONEG8 claims it is the first “super app” that provides total digital sovereignty, freedom of speech, and absolute data privacy.

Its tools include social media, messaging, video conferencing, data storage, e-commerce, and digital wallet transactions. To date, ONEG8 has developed over 800 functions, investing 175,000+ coding hours into the project.

The project’s native token G8C (Gate Coin) features an aggressive burn mechanism and staking opportunities. All platform sales and fees are settled in G8C, triggering more token burns and greater incentive to hold.

This project has a market cap of just $600,000, which is very attractive given all the utility on display. I believe this obscurity leaves room for significant upside potential. G8C will be listed on BitMart on April 8, so the valuation gap could soon narrow rapidly.

iExec RLC (RLC-USD)

iExec RLC (RLC-USD) is building a distributed cloud infrastructure for high-performance computing using blockchain technology. In a nutshell, iExec lets users tap into underutilized computing resources across the internet to handle complex parallel processing jobs, similar to Folding@Home.

By compensating providers in RLC tokens, this project has constructed a decentralized market around cloud computing power. Over time, iExec aims to disrupt incumbent cloud computing giants. In my view, it’s not a question of whether decentralized computing displaces legacy players, but which blockchain projects will be best positioned when this shift accelerates.

With cloud spending expected to top $679 billion in 2024, if this project is able to capture even a sliver of this market, investors could see tremendous growth ahead. Despite doubling since I first covered this token, I believe RLC has ample room to run as data and AI demand grows. Blockchain projects in the cloud computing space seem poised for significant gains as AI tailwinds spill over into the crypto sector.

Small, low-volume cryptos

On Low-Capitalization and Low-Volume Cryptocurrencies:InvestorPlace does not regularly publish commentary about cryptocurrencies that have a market capitalization less than $100 million or trade with volume less than $100,000 each day. That’s because these “penny cryptos” are frequently the playground for scam artists and market manipulators. When we do publish commentary on a low-volume crypto that may be affected by our commentary, we ask thatInvestorPlace.com’s writers disclose this fact and warn readers of the risks.
Read More:How to Avoid Popular Cryptocurrency Scams

On the date of publication, Omor Ibne Ehsan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.

Omor Ibne Ehsan is a writer at InvestorPlace. He is a self-taught investor with a focus on growth and cyclical stocks that have strong fundamentals, value, and long-term potential. He also has an interest in high-risk, high-reward investments such as cryptocurrencies and penny stocks. You can follow him on LinkedIn.

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