The cryptocurrency market is currently brimming with bullish momentum and an overall positive sentiment. Thanks to the market-wide surge in prices, investor confidence and market liquidity have been on the rise in 2024. Crypto pundits believe that the current market conditions are favorable for a bull run that will see the prices of several altcoins skyrocket.
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In the second quarter of 2024, Binance Coin (BNB), NFT Finance (NFTFN), and Toncoin (TON) have emerged as promising altcoins. As per crypto pundits, investors should pay attention to BNB, NFTFN and TON, and consider investing in them before they take off.
Toncoin (TON)
Toncoin is a layer 1 blockchain that was launched in 2018 by the team behind leading messaging platform Telegram. With a proof of stake consensus mechanism, the TON network is largely run by a group of non-commercial supporters and a community of enthusiasts. Today, Toncoin is used to build decentralized applications, facilitate cross-chain transactions, etc.
At the time of writing, TON network’s native token was trading at $6.4 with a market capitalization of over $22 billion. Since the beginning of the year, TON has gained more than 178%. Toncoin’s vast use cases in decentralized data storage and staking services have the potential to boost its price in the coming months.
NFT Finance (NFTFN)
NFTFN is a leader in the web3 fintech space that addresses the various challenges faced by NFT market participants, including lack of liquidity and high entry barriers. With revolutionary products like SuperNova, NFTFN fosters an inclusive trading ecosystem by offering exposure to premium NFT collections like Bored Ape Yacht Club (BAYC), Azuki, Doodles, and CloneX.
Investors are currently lining up to buy NFTFN for just $0.03 via its ongoing presale (supply limited to 1 billion tokens). Investors who participate in this presale would essentially align themselves with a rapidly growing NFT market that is projected to reach a whopping $230 billion by the end of the decade.
Binance Coin (BNB)
Since its inception in 2017, BNB has become an integral part of the expansive Binance ecosystem. This ecosystem encompasses its namesake crypto exchange, which happens to be the largest in the world, and the dynamic Binance Smart Chain (BSC). BNB’s functionalities also extend to other Binance products and services like Binance Academy, Trust Wallet and other Research project.
Data from CoinMarketCap shows that BNB is currently trading at $592, boasting a market capitalization of over $88 billion. In the first quarter of 2024, BNB surged more than 90%, reaching as high as $632 last month. With the expansion of the Binance Ecosystem and regular token burns, BNB is poised to rally considerably in 2024.
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