“Be fearful when others are greedy, and greedy when others are fearful”. A quote by Warren Buffett. Baron Rothschild, an 18th-century banker, said; “The time to buy is when there’s blood in the streets”.
Buying the dip. Easier said than done, when the world seems to be collapsing. Like the recent Black Monday event. Is there a potential WW III looming? Let’s hope not. However, there’s also plenty of positive news around. This makes me bullish. So, this dip is an excellent moment to, well, actually buy the dip. Here are three altcoins that showed strength and should do well once we go up again.
1) Solana ($SOL)
During this worldwide financial meltdown on Black Monday, Solana kept steady. The comeback kid dropped from $142 to $110. However, today’s price is up to $159. That’s showing some real resilience. And there’s more good news brewing for Solana. How about these tidbits?
- Solana flipped BNB for the 4th spot measured by market cap. It’s a thin lead, but enough to take that 4th spot.
- Solana keeps breaking ATHs vs Ethereum. The $SOL/$ETH pair is up by more than 8%.
- No wonder more and more money from Ethereum flows into Solana. In July alone, we saw almost $500 million bridged from other chains to Solana. This includes $349 million from Ethereum to Solana.
- Brazil’s regulators have approved the launch of the world’s first $SOL spot ETF. That’s massive news. See my video on a possible $SOL spot ETF. Canada already has a Solana ETF fund since June 2024.
- DePIN is one of the hottest sectors in crypto in 2024. Solana is leading the charge by having the most DePIN projects on its chain. According to Messari, that’s 78 projects. Solana surpasses all other chains with this number.
Source: X
So, Solana is in no uncertain terms on fire on all cylinders. You can’t keep a good chain down. The same goes for its outages. In all 2023 and 2024, there were only two chain outages. Both occurred in February of each respective year. That used to be an Achilles heel, but not anymore. Solana’s future looks bright, for real.
2) Sui ($SUI)
Sui is another project that is part of my favorites list. It has been a year since its launch now, and it really grew on me during this time. Their team keeps building, and their ecosystem keeps growing. For example, their NFTs, with Prime Machin leading the charge. Read up on our articles about them.
So, let’s take a look at what they’re building. Their latest news was about Mysticeti. That’s their new consensus mechanism. Such a mechanism validates a transaction and marks it as authentic. In other words, this is the beating heart of a blockchain.
Of all blockchains, it offers the lowest latency. That deals with the delay that happens between a user taking an action on a network and when they get a response. So, on a blockchain, it’s when you submit a transaction to a network. Now you get the first confirmation of acceptance by the network. That’s the latency, this time difference. Mysticeti’s latency is 390ms, or almost instantly.
Source: X
It also offers a high throughput and has a low computation cost. Transactions are now lightning-fast between apps. This is, for example, important for gaming. That’s one of the sectors that Sui focuses on.
And here Sui has another trump card in its hands. That’s the SuiPlay0X1, a handheld gaming device for Web3. I expect its launch in 2025. However, you can sign up for the waitlist. Here’s a link to that. This could well be a game changer for blockchain gaming.
Now, hold your horses, that’s not all. Grayscale is about to launch an SUI fund. In other words, institutions are starting to pay attention to Sui. The Grayscale Sui Trust focuses on the $SUI token. Grayscale already has such trust for, among others, Solana, Chainlink, Near, or Stacks.
Source: X
So, Sui’s future looks promising. The current $SUI price is a steal right now, at 92 cents. The temperature is rising. $SUI saw 30% daily increases towards the end of last week. You don’t want to start fading on Sui.
3) Ondo Finance ($ONDO)
The RWA sector is currently one of the hottest crypto sectors around. Ondo Finance plays the first fiddle in this sector. For example, measured by market cap, it leads the bunch with a handsome margin.
Ondo mainly targets institutions. However, individuals can also trade on their platform. Before you can start trading on Ondo, individuals need to complete a KYC and companies a KYB. But no worries, you can trade the $ONDO token on exchanges without having to complete a KYC. Keep in mind that Ondo Finance is not available for US residents or entities.
Ondo’s popularity is partially due to BlackRock getting involved in RWAs. It launched its BUIDL tokenized treasury fund. Ondo has moved $95 million of assets to this fund. However, in a stunning turn of events, Ondo now surpassed BlackRock in TVL for RWAs.
On its platform, you can trade in two tokenized notes:
- $USDY — backed by short-term US Treasuries and bank demand deposits with a 5.35% APY.
- $OUSG — backed by US Treasuries but only available for qualified purchases.
The $ONDO token retraced on Black Monday, like all other tokens. However, it made a good comeback and is currently at 78 cents. As honorable mentions, here are some other projects worth looking into. For example, Jupiter ($JUP), Arweave ($AR), or Mantra ($OM).
Source: X
So, which of these three projects is your favorite one? Or did we miss your face projects? Let me know in the comments which one is your favorite and why.
Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd.
