Alteseason is a popular phase in the market where altcoins experience a major price boom. Many analysts believe that 2024 will bring one of the biggest altseasons ever recorded, exciting investors.
Arbitrum (ARB), Injective (INJ), and Pullix (PLX) are among the top altcoins battling for the top position in this year’s altseason. Which of these altcoins will end the year as the most dominant crypto? Let’s see what experts think.
Arbitrum (ARB) TVL and Price Surge: New Target?
Arbitrum (ARB) has been among the top DeFi projects over the last few months. Thanks to its highly scalable network, there has been a surge of interest in Arbitrum. The total value locked (TVL) on the network has increased by 49.8% over the last month, as per L2Beat data.
The trading volume of ARB recently surpassed $3.3 billion, according to data from CoinMarketCap. In addition, the price of Arbitrum has also been on the rise, gaining more than 77% on the monthly chart. The rally has helped ARB reclaim the $2.0 resistance.
The recent surge above the $2.0 resistance means the price of Arbitrum could further increase by 25%, according to Guncel Krypto. This persistent growth of Arbitrum is the reason it has been ranked among the top altcoins to watch in 2024.
Injective (INJ) Fails To Hold $40 Support, Will It Resume the Uptrend?
Injective (INJ) was one of the biggest gainers. The Injective coin had a price surge of over 2,000% in 2023. Still, INJ is starting to feel the pinch of the negative market sentiment. Following its inability to reach a new peak above $50, Injective’s price fell to $40.
But Injective also fell to $37 after failing to find support at this level. The price of Injective has now dropped by 14% on the daily chart. There’s a good chance of a decline to the $35 support level if the bearish pressure keeps up. In the long term, nonetheless, Injective coin remains one of the most optimistic alternative coins. The injective ecosystem’s rate of growth is one of the main causes of this.
Pullix (PLX) Hits $0.08, Set for Meteoric Rise in 2024
Another DeFi cryptocurrency that has impressed investors over the last few weeks is Pullix (PLX). The PLX coin has increased in value from $0.04 in December to a new high of $0.08. Furthermore, a lot of cryptocurrency experts predict that the Pullix coin will soar parabolic in 2024.
The hybrid platform of Pullix (PLX) has surprised the cryptocurrency community. This platform combines the greatest aspects of DEX and CEX into one. Reducing trading fees and enhancing security, privacy, speed, security, and accessibility to many marketplaces are some of its goals.
The vast array of assets available to traders on Pullix, such as ETFs, gold, FX pairs, commodities, and other precious metals, is one of its key features. Pullix now has access to markets larger than the cryptocurrency space, giving the DeFi cryptocurrency massive potential.
The forex market is valued above $630 trillion, giving PLX more potential than its rivals. This access gives PLX a lot of room for growth. This is why analysts believe that the price of Pullix can increase by up to 100x in 2024.
As altcoins take center stage in 2024, the spotlight turns towards top DeFi projects like Arbitrum, Injective, and Pullix. These projects, each with its unique features and value proposition, are poised to record remarkable gains in 2024.
However, Pullix is likely to lead the altcoin rally because of its connection to a bigger market. You can join this prospective blue-chip project while it’s still in its early stages.