Solana (SOL) and These Three Altcoins Became the Stars of 2023! Will their rise continue in 2024? Analysts Evaluated!

en.bitcoinsistemi.com 21 December 2023 16:01, UTC

Analytics

Bitcoin price climbed back above $44,000 yesterday amid growing optimism that spot Bitcoin ETFs will be approved in January.

At this point, after a possible approval, the $BTC price is expected to reach $ 50,000, and $BTC has recorded a tremendous rise in 2023.

While it has increased by approximately 170% since January 2023, some altcoins have also written their names in gold with their rise.

Solana ($SOL) was at the top of these altcoins, followed by These Three Altcoins.

So, what awaits $SOL, $AVAX, $STX and $HNT, which performed well in 2023, in 2024? Analysts speaking to Coindesk evaluated these altcoins and explained their expectations:

1-To the left (LEFT):

$SOL, which has increased by more than 700% since January 2023, has experienced a sharp rise since October.

At this point, Solana has performed well despite the collapsed exchange FTX and its relationship with its founder Sam Bankman-Fried.

Speaking to Coindesk, GSR senior analyst Brian Rudick said about $SOL: “There were questions about whether Solana would survive after the FTX collapse, no one believed $SOL would survive, but instead of disappearing, $SOL thrived with increased activity on the chain and several high-profile airdrops.” “It happened,” he said.

2-Hellium ($HNT):

$HNT, which has increased by more than 400% since January 2023, experienced a sharp increase of up to 270% in December.

While $HNT's move to the mobile field is behind this rise, Amberdata research director Christopher Martin evaluated $HNT:

“2023 was a big year for Helium due to its move into the mobile sector. The network seems to have big plans for mobile and IoT. Given these plans, there are a lot of expectations for $HNT to grow with the mobile network.”

Again, in general, analysts expect $HNT's rise to continue, noting that traditional fund managers also show special interest in $HNT.

3-Stacks ($STX):

$STX, which has increased by more than 600% since January 2023, experienced an increase of up to 116% in December.

Stacks, the Bitcoin layer-2 protocol, is known as the first token to receive approval from the SEC in 2019. At this point, the rise of $STX is expected to continue in 2024 along with the rise of Bitcoin.

4-Avalanche ($AVAX):

$AVAX, which has increased by over 300% since the beginning of 2023, reached $ 45. While partnerships were behind these rises, Chris Newhouse, founder of DeFi consultancy company Infiniti Labs, evaluated $AVAX.

“Avalanche's rise this year has been driven mostly by news about $AVAX.

However, this success of $AVAX is not just news-driven, as its recent rise has seen people move in and out of different L1s and altcoins.

Because by partnering with Apollo and JP Morgan, $AVAX is shaping itself to be one of the best blockchains preferred in corporate activities through corporate partnerships.”