Prominent market watcher Altcoin Daily has recently pointed out a list of potential Solana Killers in 2024, which includes Cardano, Polkadot, Toncoin, and Near Protocol.
Solana has demonstrated exceptional performance this year, with SOL’s price rising by an impressive 69.6% year-to-date (YTD). Despite market fluctuations, SOL has managed to soar, currently priced at $172.94, marking a 4% increase in the last 24 hours and a 7-day growth of 2%. Over the past six months, Solana has experienced a significant price surge of 175.9%.
The surge in SOL’s value can be attributed to the introduction of new tokens, particularly memecoins, on the Solana network. These tokens have increased network usage, thus driving demand for SOL. However, Solana has encountered challenges like major network outages.
The rise of Solana has led to speculations within the crypto community about potential competitors, referred to as “Solana Killers.” Altcoin Daily, a well-known crypto expert, has identified eight altcoins that could pose a threat to Solana’s dominance in 2024. The list includes Near Protocol, Toncoin, Aptos, Polkadot, Mina, Cardano, Sui, and Cosmos, with Injective added as a bonus.
While Altcoin Daily did not specify the selection criteria, these projects are known for their decentralization and significant impact in the industry. Some have outperformed Solana in certain aspects, like performance and technological advancements. For instance, Cardano’s track record indicates no major network outages since its inception, showcasing a focus on technological innovation and development activity.
Altcoins like Toncoin and Near Protocol have seen higher gains than Solana this year, with NEAR and TON registering YTD surges of 218.2% and 106.9%, respectively, compared to SOL’s 69.6%. Despite Solana’s market cap of $79.84 billion, ranking it among the top 5 crypto assets, Toncoin and Cardano are closely following in terms of valuation.
With Toncoin valued at $17.89 billion and Cardano at $16.5 billion, these Solana Killers could potentially challenge Solana’s dominance and surpass the asset in the future. It remains to be seen how these projects will fare in the long term against Solana’s established position in the crypto market.
