Top Altcoins in October [2024] You Should Look Out For!

Introduction

Welcome to the forefront of crypto anticipation as we unveil the spotlight on the most promising altcoins poised to make waves in October 2024! In the ever-evolving landscape of the crypto market, these carefully chosen altcoins have distinguished themselves, promising exciting developments and potential price surges. Our journey takes us into the heart of the crypto sphere, where these selected gems are set to shape the upcoming month. Get ready to unravel the factors propelling these top altcoins in 2024 to watch out for as we delve into the reasons capturing the keen interest of seasoned investors and crypto enthusiasts. From noteworthy advancements to significant market movements, this exploration is your guide to the top altcoins in 2024 that demand attention and consideration.

So Why Do We Need Altcoins?

In the vast and dynamic crypto landscape, altcoins are necessary because of their unique capabilities and functionalities. While Bitcoin, often hailed as the grandfather of all cryptos, excels as a store of value, it falls short in certain aspects, particularly as an efficient means of transferring value or functioning as a payment system. Moreover, Bitcoin lacks programmability, a crucial feature that opens the door to myriad applications within the crypto realm.

Enter the second generation of cryptos, exemplified by Ethereum, which introduced the revolutionary concept of programmable money through smart contracts. However, even Ethereum faced challenges such as gas fees and scalability issues. In response, a wave of alternative blockchains emerged, each designed to address specific shortcomings and enhance the overall crypto ecosystem. Solana, Polygon, and other innovative platforms stepped in, offering solutions to scalability and transaction efficiency.

Now, as investors navigate the vast array of available cryptos, the question arises – why invest in altcoins? The answer lies in the diverse range of problems these projects aim to solve and the unique value propositions they bring to the market. Whether addressing specific use cases, improving transaction speed, or enhancing scalability, altcoins offer a spectrum of solutions beyond what Bitcoin and even some first-generation cryptos provide.

Determining which altcoins to invest in can be approached in various ways. It may involve thorough research into the problems a project aims to solve, or a more straightforward evaluation based on market capitalization. In this article, we have curated a list of the top altcoins in 2024 by market cap, offering a comprehensive guide for investors looking to navigate the intricate crypto landscape in 2024.

Ethereum (ETH)

Ethereum, standing as a stalwart in the world of cryptos and the first in the list of top altcoins in 2024, continues to captivate the attention of investors and enthusiasts alike due to its unique features and constant pursuit of innovation. As one of the top altcoins in 2024, Ethereum distinguishes itself by offering a programmable blockchain, introducing the concept of smart contracts that enable the execution of self-executing contracts with predefined rules. This functionality has positioned Ethereum as a vital platform for decentralized applications (DApps) and decentralized finance (DeFi) protocols, solidifying its role in shaping the blockchain landscape.

One of the most anticipated events in the Ethereum ecosystem is the impending Ethereum Dencun Upgrade, that took place back on March 13, 2024. In the execution layer (Cancun), Ethereum Dencun incorporated several Ethereum Improvement Proposals (EIPs) to address scalability challenges and optimize gas efficiency. Notably, EIP-1234 adjusts the block reward and delays the “difficulty bomb,” ensuring a smoother transition to Ethereum 2.0.

Simultaneously, in the consensus layer (Deneb), Ethereum Dencun introduced EIP-2322, an upgrade to the Ethereum Proof-of-Stake (PoS) consensus algorithm. This enhancement aims to bolster security and efficiency, further solidifying Ethereum’s position as a leading blockchain platform. As investors explore the landscape of top altcoins in 2024, Ethereum’s innovative features and the promise of the Dencun Upgrade contribute to its continued relevance and appeal within the crypto space.

Current Price	$2429
Market Cap	$292 billion
Circulating Supply	120.37 million ETH
Max Supply	N/A
Vol (24H)	$15.7 billion
Change (YTD)	+4.5%
Founder	Vitalik Buterin, Gavin Wood, Charles Hoskinson, Anthony Di Iorio and Joseph Lubin

• Ethereum price experienced a significant price surge in 2024, particularly after the successful Ethereum Dencun Upgrade. However, a few months later, it has weakened and is now trading below $2500.
• Despite challenges during recent market corrections, Ethereum price shows signs of recovery. The falling wedge pattern, highlighted by blue trendlines, signals a bullish trend as the price breaks out, bolstered by the approval of spot Ethereum ETFs.
• Ethereum price dipped into bearish territory during recent market corrections and is now trading below the parallel channel it occupied in June.
• Trading within the parallel channel (indicated in grey) reflected price consolidation, with new buyers stepping in while early investors took profits. This points to a healthy market, but a return to optimism requires ETH to re-enter the channel.
• Ethereum is currently trading well below the October 2024 base Fibonacci pivot, as well as the 50-day and 200-day Exponential Moving Averages, indicating bearish trends in both the short and long term. The EMAs have also formed a death cross.
• On the upside, Ethereum faces strong resistance at the $2500 base Fibonacci pivot, a critical psychological level. Once surpassed, the next targets are $2714, $2850, and potentially $3000 before month’s end.
• On the downside, with $2500 broken, the next major support lies near the S1 Fibonacci pivot at $2270.

Read On: Top Ethereum ERC-20 Tokens

Solana (SOL)

Solana, a high-throughput blockchain platform renowned for its speed and scalability, stands firm as one of the top altcoins in 2024, demonstrating resilience amid recent market fluctuations. This strength is rooted in noteworthy developments, underscoring Solana’s commitment to continuous innovation and expansion.

In the decentralized finance (DeFi) space, Solana has introduced EUROe, the first Euro-pegged stablecoin on its platform. This innovation eliminates conversion fees and simplifies access to DeFi opportunities for European users, marking a substantial stride towards broader DeFi adoption and heightened liquidity within the Solana ecosystem.

Collaborations with tech giants like Google and Amazon further enhance Solana’s accessibility and empower developers. The integration of Solana data with Google Cloud BigQuery offers robust analytics tools, while the release of Solana blockchain node development blueprints on AWS simplifies deployment processes, fostering innovation within the Solana community. With its commitment to innovation, strategic partnerships, and advancements in DeFi, Solana continues to position itself as on the list of top altcoins in 2024.

Current Price	$143.5
Market Cap	$67.4 billion
Circulating Supply	469.2 million SOL
Max Supply	N/A
Vol (24H)	$2.35 billion
Change (YTD)	+41.5%
Founder	Anatoly Yakovenko

• Since October 2023, Solana price has surged nearly 750%, placing it among the top five cryptos by market capitalization and briefly surpassing Binance Coin (BNB) to claim the third position, excluding stablecoins.
• After navigating the bear market of early 2022, Solana’s price made a significant recovery, closely following Bitcoin’s upward momentum.
• Reflecting broader market conditions, Solana price has entered a bearish phase and is currently trading below the crucial psychological level of $150.
• SOL has fallen below both the 50-day and 200-day EMAs, signaling possible short- to medium-term concerns for the altcoin.
• In April 2024, Solana’s price dropped from around $200 to $135 but has since modestly recovered, now trading just under $150. A return to bullish momentum could happen if Solana price re-enters its ascending channel.
• Solana has been trading between $125 and $200 for most of 2024, and this range is likely to persist unless it breaks through the $200 resistance level.
• This trend suggests Solana price has the potential to exceed its previous all-time high of $259, indicating an 85% upside. If the price breaches the $186 mark by the end of the month, the next target will be near $200, a key psychological level.
• If Solana’s price drops further, strong support is expected between $129 and $130 at the S1 Fibonacci pivot.

Check Out: Top Crypto Gainers in 2024

Ripple (XRP)

Ripple, developed by Ripple Labs, is another prominent player in the world of cryptos, offering a decentralized technology that serves as a crypto and digital payment network for financial transactions. Established in 2012 and co-founded by David Schwartz, Jed McCaleb, and Arthur Britto, Ripple is distinguished by its open-source protocol designed to facilitate swift and cost-effective peer-to-peer (P2P) transactions, eliminating the reliance on a centralized intermediary.

Ripple’s suite of products and services has garnered significant traction, serving large global payment networks and attracting major financial institutions and international banks as clients. Notably, Ripple employs a consensus protocol to validate financial transactions and settle account balances, deviating from traditional Proof of Work (PoW) or Proof of Stake (PoS) systems. The XRP ledger, the native digital currency of the Ripple Network, boasts rapid transaction confirmation within 5-7 seconds and minimal transaction fees, emphasizing its efficiency and affordability for users.

As we explore the landscape of top altcoins in 2024, Ripple stands out for its unique approach to decentralized finance and its widespread adoption by key players in the financial industry. Investors seeking diversified and innovative portfolio options may find Ripple a compelling choice among the top altcoins in 2024 to watch out for.

Current Price	$0.53
Market Cap	$29.9 billion
Circulating Supply	56.5 billion XRP
Max Supply	100 billion XRP
Vol (24H)	$1.13 billion
Change (YTD)	-13.9%
Founder	Chris Larsen, Jed McCaleb

• Despite Ripple’s widespread adoption and utility, XRP price has consistently underperformed compared to other leading cryptos. A significant turning point occurred on July 13, 2023, when the US District Court for the Southern District of New York ruled that XRP is not a security in the Ripple vs SEC lawsuit, resulting in a 74% price increase.
• Ripple’s ongoing legal struggle with the SEC has garnered significant attention, with speculation growing that the case may reach the US Supreme Court. This speculation heightened after the SEC received a favorable ruling in its ongoing case against Coinbase.
• In the past six months, XRP price has varied within a broad range of $0.47 to $0.72, and it is currently positioned just above the lower end of this range, as illustrated by the grey parallel channel.
• For XRP price to regain bullish momentum, it must remain above the critical psychological level of $0.50 and break through the resistance zone near $0.72. Successfully surpassing these levels could reignite bullish sentiment.

Read More: Top Meme Tokens in 2024

Cardano (ADA)

Cardano, often referred to as the ‘third generation of cryptos’ in the crypto space, has positioned itself as a prominent and well-developed project in the industry. As the most up-and-coming crypto project, Cardano stands out for its innovative and carefully designed blockchain platform. Notably, it has undergone extensive peer-review processes, setting it apart as a proof-of-stake (PoS) token with the potential to rival Ethereum.

Despite facing challenges in ADA price action throughout 2022, Cardano’s resilience is attributed to its strong development team and visionary leadership. The continuous building and creation of a unique platform with features that could surpass Ethereum showcase the project’s commitment to innovation. The recently concluded Cardano’s Vasil Hark Fork, which went live on September 22, 2023, further solidifies Cardano’s position in the list of the top altcoins in 2024. Further, Cardano is slated to get the next set of developments and upgrades in the upcoming Cardano Chang Hardfork. 

Current Price	$0.35
Market Cap	$10.8 billion
Circulating Supply	34.96 billion ADA
Max Supply	45 billion ADA
Vol (24H)	$253 million
Change (YTD)	-40.6%
Founder	Charles Hoskinson

• As the overall crypto market experienced a rebound fueled by Bitcoin price rally to all-time highs, Cardano’s ADA price saw a moderate recovery. However, a slight correction in late March has kept ADA price trading below the important $0.70 level.
• Cardano’s price experienced a notable surge in November and December 2023, rising from below $0.30 to nearly $0.67. After a phase of stabilization, the ADA price gained momentum in March 2024, briefly exceeding $0.70 before facing another pullback.
• Following this retracement, the ADA price has adopted a bearish outlook, dropping below the medium-term trendline. Furthermore, it has fallen beneath both the 50-day and 200-day Exponential Moving Averages, suggesting potential bearish sentiment in both the short and long term due to a death cross formation.
• Potential price targets for ADA price include $0.50 and $0.55, provided it exceeds the R3 Fibonacci pivot for October at $0.47.
• On the downside, the $0.32 level is anticipated to act as a crucial support zone for the ADA price, aligning with the S1 Fibonacci pivot, and offering significant support in the event of further market declines.

Tron (TRX)

Tron, a leading altcoin by market capitalization, has garnered significant attention in August 2024 due to its impressive performance and robust fundamentals and has thus become a part of this list of top altcoins in 2024. Founded by Justin Sun in 2017, Tron aims to revolutionize the entertainment industry by providing a decentralized platform for digital content sharing. It is renowned for its high throughput and scalable blockchain technology, which supports smart contracts and decentralized applications.

Tron’s success can be attributed to several factors that set it apart in the crowded crypto space. One of its core features is the TRON Virtual Machine (TVM), which is compatible with Ethereum’s Virtual Machine (EVM) and facilitates the seamless migration of dApps. This interoperability has positioned Tron as a significant player in the smart contract arena.

In recent weeks, Tron has been on a notable uptrend, with its price surging over 19% throughout June 2024 and continuing its ascent into July. This bullish performance is largely driven by its solid fundamentals and growing adoption within the crypto community. The project’s strong technical foundation and strategic partnerships have contributed to this positive momentum.

Looking ahead, Tron’s continued focus on enhancing its blockchain infrastructure and expanding its ecosystem through strategic partnerships positions it as a key altcoin to watch in August 2024. With its innovative approach to decentralized content sharing and strong technical performance, Tron remains a standout choice for investors seeking exposure to promising altcoins this month.

Current Price	$0.156
Market Cap	$13.5 billion
Circulating Supply	86.57 billion TRX
Max Supply	NA
Vol (24H)	$314 million
Change (YTD)	+45%
Founder	Justin Sun

• Tron, a leading altcoin by market capitalization, has shown consistent gains over the past month, even amid broader market weakness. Tron price increased by over 19% in June 2024, followed by an additional 11% rise in July, and a substantial 36% surge from the August lows, before encountering a minor correction, indicating a strong upward trend.
• Currently, the TRX price is trading above both the short-term 50-day and long-term 200-day EMAs. Both moving averages are in a bullish golden crossover, suggesting strong buying support for the altcoin in the short term.
• If Tron manages to maintain its position above the psychological level of $0.15, it could target prices of $0.165 (the R3 Fibonacci pivot level) by the end of October 2024.
• On the downside, the $0.15 level, which corresponds with the S1 Fibonacci pivot for October, is anticipated to offer substantial support for the altcoin moving forward.

Additional Read: Top Layer 2 Crypto Projects 

Chainlink (LINK)

Chainlink is the next token on this list that will take a prominent spot among the top altcoins in 2024. This blockchain network serves a distinctive purpose, incentivizing a global network of computers to supply reliable real-world data to smart contracts running on various blockchain networks.

With a unique objective in mind, Chainlink addresses a crucial need in the blockchain space. Many smart contracts across diverse blockchain networks require external data, ranging from asset prices to weather conditions and interest rates. Chainlink’s oracle network plays a vital role in providing a decentralized method for bringing these external data points to smart contracts.

The platform’s innovative solution involves incentivizing data providers, known as oracles, to act as a bridge between blockchain smart contracts and relevant external data sources. This ensures a seamless flow of information, making Chainlink an essential player in facilitating the integration of real-world data into smart contracts on a decentralized basis.

As one of the top 20 cryptos by market capitalization, Chainlink offers a compelling option for investors seeking diversification in their crypto portfolios in 2024. Its significance lies in providing a reliable and secure infrastructure for seamlessly connecting blockchain-based applications with external data sources, APIs, and traditional financial systems. This makes Chainlink a worthy member of this list of top altcoins in 2024.

Current Price	$10
Market Cap	$6.1 billion
Circulating Supply	608.09 million LINK
Max Supply	1 billion LINK
Vol (24H)	$165 million
Change (YTD)	-33%
Founder	Sergey Nazarov and Steve Ellis

• Despite Bitcoin’s strong influence on the broader crypto market’s recovery, LINK price has followed a bearish trend. Earlier this year, LINK saw a significant price rise, briefly surpassing $20. However, like the rest of the market, LINK entered a bearish phase in mid-March, falling below the crucial $15 level.
• After this correction, LINK is currently trading under both the 50-day and 200-day EMAs, which have formed a bearish death cross.
• Analyzing key price levels is essential for understanding LINK’s price trajectory. Presently, Chainlink is just below the base Fibonacci pivot level for October at $11.4. A breakout above this level could push LINK toward $12.8 and potentially $15 by the end of October.
• In the event of a market decline, LINK is likely to find support near the $10 mark, which aligns with the S1 Fibonacci pivot point and acts as a psychological support zone. This level has recently provided strong support against further downside risks.

Polygon (POL)

Polygon, formerly known as Matic Network, stands out as a premier layer-2 scaling solution for Ethereum blockchain, positioned as one of the top altcoins in 2024. With a primary mission to address Ethereum’s scalability challenges and alleviate high transaction costs, Polygon offers a framework for constructing and interconnecting scalable blockchain networks.

This crypto gem has garnered significant attention due to its commitment to optimizing the efficiency and functionality of decentralized applications (DApps) operating on the Ethereum network. Polygon distinguishes itself with features like low transaction fees and rapid confirmation times, appealing to both developers and users.

Polygon’s commitment extends to promoting liquidity provision, ensuring interoperability, enhancing security measures, and anticipating broader adoption within the Polygon 2.0 ecosystem. This transition from MATIC to POL reflects Polygon’s dedication to fostering innovation and adoption, creating a dynamic, secure, and user-friendly environment that caters to the diverse needs of its user base. This places Polygon as one of the top altcoins in 2024 to watch out for, offering a cutting-edge blockchain network and an upgraded ecosystem.

Additionally, the MATIC to POL migration, which recently went live, marks a significant upgrade in Polygon’s ecosystem. This migration is part of a broader strategy to enhance the network’s scalability and efficiency, positioning POL as the new native token. As Polygon shifts from MATIC to POL, the network aims to strengthen its role in Web3 development by providing improved governance and staking mechanisms. This move is expected to increase adoption, attract institutional interest, and potentially play a key role in the next crypto bull run. The migration is seamless for users, ensuring continuity in staking rewards and network operations.

Current Price	$0.38
Market Cap	$2.8 billion
Circulating Supply	7.53 billion POL
Max Supply	10 billion MATIC
Vol (24H)	$82 million
Change (YTD)	-62.3%
Founder	Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic

• Throughout 2023, Polygon’s POL price remained relatively flat, struggling to benefit from market recoveries unlike other cryptos.
• In early 2024, POL showed signs of recovery, testing the important $1 level twice and briefly reaching $1.20, hinting at a potential breakout. However, since mid-March 2024, POL price has pulled back from $1.20, experiencing a drop of over 60%.
• Currently, POL price is trading just below the critical Fibonacci base pivot level of $0.45 for October. To regain bullish momentum, it needs to reclaim the $1 mark.
• After this decline, the 50-day and 200-day EMAs formed a bearish death cross on April 25, adding potential selling pressure to POL. Despite a brief spike in mid-August due to the MATIC to POL migration news, the rally quickly faded, and POL price has since given back those gains.
• Looking ahead, the October S1 Fibonacci pivot level of $0.36 is expected to provide key support, forming a significant support zone for POL moving forward.

Uniswap (UNI)

Uniswap, a powerhouse in the decentralized finance (DeFi) realm, stands out prominently within the decentralized exchanges (DEX) sector. Recognized as one of the top altcoins in 2024, Uniswap has solidified its position as a leading decentralized trading protocol, revolutionizing the automated trading of DeFi tokens without reliance on centralized entities. Founded by Hayden Adams in 2018, Uniswap introduced its automated market maker (AMM), gaining significant attention, particularly during the DeFi boom of 2021.

A distinctive feature of Uniswap is its operation under a decentralized autonomous organization (DAO), governed by its native token, UNI. This governance structure empowers users to actively influence and contribute to Uniswap’s future developments, enhancing user engagement and profitability. By automating the market-making process, Uniswap minimizes risks and lowers costs for all participants, eliminating identity requirements for users and enabling the creation of liquidity pools for various token pairs. As one of the top altcoins in 2024 to invest in, Uniswap continues to play a pivotal role in shaping the decentralized financial landscape in 2024.

Current Price	$7.15
Market Cap	$3.75 billion
Circulating Supply	600.2 million UNI
Max Supply	1 billion UNI
Vol (24H)	$70 million
Change (YTD)	-13.4%
Founder	Hayden Adams

• Uniswap’s native token, UNI, began 2024 with a slight dip in January but saw a significant rebound in February, surging nearly 70% intraday on February 23. This sharp rise was driven by news that the Uniswap DAO was considering a proposal for fee rewards, pushing UNI price to $12, its highest point in two years.
• After this peak, UNI price entered a bearish trend, dropping from over $15 to below $7. Since mid-May 2024, UNI price has shown a strong recovery, climbing back above $10 before recently correcting to just under $6.
• Currently, UNI price is trading below both its 200-day EMAs, but just above its 50-day EMA – which formed a bearish death cross in late July 2024.
• Looking ahead, if UNI can surpass the R3 Fibonacci pivot level for October, above $9, and reach $10, it could pave the way for a rally toward $12, and potentially up to $14-$15. On the downside, the S1 Fibonacci pivot level for October, near $6, is expected to provide strong support for the token.

Conclusion

In conclusion, navigating the dynamic landscape of top altcoins in 2024 reveals a diverse array of promising opportunities. Each crypto, from Ethereum and Ripple to Solana, Cardano, Chainlink, Polygon, and Uniswap, brings unique features and potential for investors and enthusiasts alike. As the crypto market evolves, these altcoins showcase resilience, innovation, and transformative capabilities, making them key players in the ongoing revolution of decentralized finance.

Whether driven by technological upgrades, market dynamics, or community governance, these altcoins present compelling narratives for the months ahead. Investors and stakeholders are encouraged to stay informed, conduct thorough research, and seize the potential offered by these top altcoins in 2024. The journey into the crypto realm continues to unfold, promising exciting developments and opportunities for those willing to explore and engage with the ever-evolving landscape.