🏆 Top 10 Altcoins of 2024
PLUS: The best-performing sectors in May
Welcome to another free edition of Altcoin Investing Picks.
I hope you enjoyed last week issue “How To Put Yourself In The Top 10% Of Investors”.
In today’s newsletter:
🏆 Top 20 Altcoins of 2024
🚀 Best performing sectors in May 2024
📈 Signal: Bitcoin Mayer Multiple
🏆 Top 10 Altcoins of 2024
Here are the top ten altcoins that have outperformed Bitcoin this year:
1/ dogwifhat ($WIF) - Memes
2/ PEPE ($PEPE) - Memes
3/ FLOKI ($FLOKI) - Memes
4/ Jasmy Coin ($JASMY) - Web3 Infrastructure
5/ Pendle ($PENDLE) - DeFi
6/ Arweave ($AR) - Web3 Infrastructure
7/ Core DAO ($CORE) - Smart Contract
8/ Fetch AI ($FET) - Web3 Infrastructure
9/ Toncoin ($TON) - Smart Contract
10/ SingularityNET ($AGIX) - Web3 Infrastructure
Let’s dive in! 👇🏻
1/ dogwifhat ($WIF)
dogwifcoin (also known as dogwifhat) is a Solana-based meme token made famous by the image of a Shiba Inu wearing a knitted wool beanie. The image quickly became an internet sensation and gave rise to a myriad of pictures of other people and objects wearing the same beanie (hat). The project’s token, WIF, experienced significant growth in early December 2023, increasing from a market capitalization of less than $1.00 million to over $350.00 million in two weeks.
Category: Memes
Vertical: Solana
Market Cap: $3.35B
Current Price: $3.32
Down from ATH: -30.72%
Up from Cycle Low: +57.74%
90d ROI: +114.29%
90d ROI vs BTC: +98.47%
2/ PEPE ($PEPE)
PEPE is a meme cryptocurrency designed for entertainment purposes, emphasizing its status as a non-serious, purely memetic digital asset. It operates with zero taxes, and the liquidity provision tokens are burnt, ensuring that contract ownership is renounced. The token is positioned as a playful alternative in the crowded space of novelty cryptocurrencies, appealing to users through its association with internet meme culture.
Category: Memes
Vertical: EVM
Market Cap: $5.86B
Current Price: $0.0000145
Down from ATH: -8.67%
Up from Cycle Low: +0%
90d ROI: +130.78%
90d ROI vs BTC: +113.65%
3/ FLOKI ($FLOKI)
Floki is a community-focused platform revolving around the FLOKI meme token. Floki aims to provide decentralized finance (DeFi) products, marketplaces for gift cards and merchandise, and blockchain-based play-to-earn (P2E) gaming.
Category: Memes
Vertical: DeFi
Market Cap: $2.62B
Current Price: $0.000270
Down from ATH: -11.65%
Up from Cycle Low: +14.59%
90d ROI: +134.44%
90d ROI vs BTC: +117.02%
4/ Jasmy Coin ($JASMY)
Jasmy is building a private, smart contract-based blockchain, Jasmy.NET to power an Internet of Things (IoT) platform, Jasmy Platform, where users will be able to control access to their data. Jasmy IoT device owners will store data in a “Personal Data Locker,” a part of the platform’s distributed file storage system, and determine if and when third-party merchants may access their information. Merchants must describe the way in which they intend to use IoT data, and users can selectively share their data with specific merchants in exchange for JASMY rewards.
Category: Web3 Infrastructure
Vertical: DePIN, Sensor Network
Market Cap: $1.66B
Current Price: $0.0356
Down from ATH: -99.22%
Up from Cycle Low: +1,141.65%
90d ROI: +60.98%
90d ROI vs BTC: +49.02%
5/ Pendle ($PENDLE)
Pendle is a protocol initially deployed on Ethereum that provides a market for the yields of supported yield-bearing tokens. Pendle facilitates this market by splitting yield-bearing tokens into principal and yield tokens and offering liquidity pools by which these tokens can be traded. In doing so, Pendle offers a market for fixed and floating rates of supported yield-bearing tokens by which users can earn fixed yield, long yield (e.g., speculate on the yield of the underlying token increasing), and provide liquidity to the Pendle pool for the underlying token.
Category: DeFi
Vertical: Liquid Staking
Market Cap: $940M
Current Price: $6.10
Down from ATH: -18.26%
Up from Cycle Low: +57.05%
90d ROI: +115.55%
90d ROI vs BTC: +99.52%
6/ Arweave ($AR)
Arweave is a decentralized network that offers permanent data storage and hosting services. Similar to Bitcoin, it operates on an open ledger system. The protocol is stable, mature, and widely adopted, making the ecosystem fully decentralized. Arweave is used for preserving important data, hosting web apps, and offers various opportunities for learning, using, and building on the platform.
Category: Web3 Infrastructure
Vertical: DePIN, Sensor Network
Market Cap: $2.82B
Current Price: $43.30
Down from ATH: -51.47%
Up from Cycle Low: +1,048.21%
90d ROI: +39.96%
90d ROI vs BTC: +29.56%
7/ Core DAO ($CORE)
Core DAO operates the Core blockchain, a decentralized and scalable layer-one network built on the Satoshi Plus consensus mechanism, combining Proof-of-Work (PoW) and Delegated Proof-of-Stake (DPoS).
Category: Smart Contract
Vertical: Layer1
Market Cap: $1.67B
Current Price: $1.85
Down from ATH: -54.89%
Up from Cycle Low: +45.51%
90d ROI: +182.56%
90d ROI vs BTC: +161.55%
8/ Fetch AI ($FET)
Fetch.ai is a technology company and platform designed for the AI economy. It offers tools to build, deploy, and monetize AI services. The platform enables the transformation of legacy systems for AI readiness without altering existing APIs and facilitates the discovery of services on an AI Agent network. Fetch.ai also connects multiple integrations to create new services and allows users to access these services through a single prompt.
Category: Web3 Infrastructure
Vertical: AI, Machine Learning
Market Cap: $1.95B
Current Price: $2.15
Down from ATH: -33.80%
Up from Cycle Low: +32.95%
90d ROI: +23.68%
90d ROI vs BTC: +14.34%
9/ Toncoin ($TON)
Toncoin ($TON) is the native cryptocurrency on The Open Network, a decentralized layer 1 blockchain. The TON blockchain is open source and supported by a large number of network contributors, including the TON Foundation, a non-profit organization based in Switzerland.
Category: Smart Contract
Vertical: Layer1
Market Cap: $22.12B
Current Price: $6.77
Down from ATH: -16.65%
Up from Cycle Low: +37.53%
90d ROI: +160.27%
90d ROI vs BTC: +140.33%
10/ SingularityNET ($AGIX)
SingularityNET is a network of Artificial Intelligence (AI) services accessible through a decentralized marketplace (AI marketplace). The network allows users to create, edit, and manage AI-related services like model training and inference or to deploy AI agents via its AI Publisher product before sharing and monetizing the services on the AI marketplace. Developers can charge users for the use of AI services using the AGIX token.
Category: Web3 Infrastructure
Vertical: AI, Information Service
Market Cap: $1.15B
Current Price: $0.894
Down from ATH: -37.99%
Up from Cycle Low: +35.40%
90d ROI: +9.95%
90d ROI vs BTC: +1.53%
🚀 Best performing sectors in May 24
According to Artemis, in May 2024, RWA and memes were the best-performing sectors returning +57% and +26% respectively, outperforming both Bitcoin (+12%) and Ethereum (+24%).
📈 Signal: Bitcoin Mayer Multiple
Whether you’re holding or trading, mastering the art of taking profits is one of the most important skills you must have.
The Mayer Multiple measures the difference between the current price of bitcoin and the 200-day moving average.
According to Trace Mayer, a value of 2.4 or more is considered a speculative bubble.
Current multiple: 1.26
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