Are Classical Tokens No Longer Glorious?

Recent years have seen the crypto landscape transform significantly, with new digital tokens rising to prominence and outpacing many established altcoins in terms of growth and user adoption. The elite cadre of cryptocurrencies has seen incremental growth since the market reversal in late 2023. Despite an early 2023 rebound in market trends, not all cryptos have managed to muster a sustained positive momentum.

Several projects have garnered fresh interest after a period of obscurity, whereas some have been snapped up shortly after their debut. As we move through 2024, select altcoins have been causing considerable stir in the crypto community, prompting speculation that they may greatly influence the anticipated bull market. Below we highlight several tokens that have sparked significant rallies and could potentially maintain their ascendancy throughout 2924.

Manta Network (MANTA)

Exemplifying dynamism in the modular Web3 arena, Manta Network’s price trajectory has featured remarkable strides. Launching with a robust uptick, the price soared from approximately $0.05 to a peak of $3.33. At present, the token continues to chart new peaks as its rally forges ahead, reaching all-time highs with each passing day. Although the prevailing trend is bullish, the possibility of a near-term correction looms, given that the short-term Relative Strength Index (RSI) has approached its upper boundary.

Sui (SUI)

Emerging as a prominent layer-1 blockchain and smart contract platform, Sui’s market entrance was underscored by a significant bullish candlestick. It set a new all-time high (ATH) at $1.72 on its inaugural trading day and swiftly recovered from any setbacks to stabilize around $1.4. The technical indicators favor a bullish outlook, and trading volume corroborates the token’s uptrend. As such, it is anticipated that Sui’s value will steadily climb, with a potential to breach the $2 level in the foreseeable future.

Polygon Ecosystem Token (POL)

As the Polygon ecosystem anticipates an important upgrade, the Polygon Ecosystem Token emerges to potentially replace MATIC. POL’s smart contracts are now operational on the Ethereum mainnet, capitalizing on MATIC’s role as a secondary layer solution for Ethereum. The transition paves the way for MATIC, or its successor POL, to embark on a bullish path, with expectations of reaching new heights in the days to come. This could result in the POL valuation initially surging past $1, with further ascent likely.

Celestia (TIA)

Celestia stands as the pioneering modular blockchain that empowers users to inaugurate their own blockchains with minimal complexity. TIA’s valuation is navigating an ascending parallel channel, persistently testing the lower bound for support. Triggering a bullish divergence, the RSI hints at an optimistic outlook for the forthcoming trend. The valuation of TIA is poised to reclaim the $20 mark and persist in setting daily records.