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Keep eye on These 3 Altcoins as possible top gainers of 2024

The cryptocurrency market is currently experiencing a significant correction phase, particularly in the altcoin sector. This trend follows the approval of the spot Bitcoin ETF, which led to a notable price drop in altcoins. However, investors and analysts are viewing this as a "buy the dip" opportunity, suggesting a potential surge in the future. After the ETF approval, altcoins reported softer losses compared to Bitcoin. A Glassnode report highlighted that the altcoin market cap surged by 68.9% since the filing of BlackRock's iShares Bitcoin Trust, paralleling the increase in Bitcoin’s market cap. Ethereum, while leading the top 10 altcoins based on market cap, underperformed the wider altcoin space by 17%.

In this context, it's important to keep an eye on emerging altcoins like Arbitrum (ARB), Manta Network (MANTA), and Optimism (OP). These cryptocurrencies have shown potential and could be among the top gainers in 2024.

As the ScapesMania presale nears its completion in February, the team is working hard to secure a quick listing on popular exchange platforms. There is a good probability that the token's value will increase exponentially after the listing.

The community's excitement about the project is evident so far, with $4,900,000+ collected to date from crowd/retail contributions alone. The follower count has reached 60K+ and showcases a weekly growth of 12%.

Arbitrum (ARB): Enhancing Ethereum's Efficiency

Arbitrum (ARB) boosts Ethereum's game by tackling steep fees and jam-packed networks, so everything runs smoother and won't cost you an arm and a leg. Arbitrum (ARB) cuts down on Ethereum's hefty fees and quickens transactions by handling them off the main chain. This method doesn't just scale things up, it also smooths out the experience for users, which could really get more people on board with using dApps within DeFi.

Arbitrum (ARB) is trading in a range between $1.15 and $1.82. The 10-day Moving Average is at $1.79, and the 100-day Moving Average is at $1.31. Support levels are identified at $0.07 and $0.74, while resistance levels are at $2.07 and $2.74.

Arbitrum (ARB) savvy tech chops and prime spot in the crypto world hint at a bright road ahead. Its compatibility with the Ethereum Virtual Machine (EVM) and the ability to seamlessly execute Ethereum functions positions it as a strong player in the L2 scaling solutions space. Arbitrum (ARB) has got to stay secure, fast, and keep drawing folks in if it wants to hold its own against rivals in the cutthroat world of DeFi.

Manta Network (MANTA): Overcoming Adversity

Manta Network's (MANTA) knack for keeping DeFi dealings under wraps is catching eyes in the crypto scene. The network is zeroing in on giving people a way to trade and swap in DeFi, tackling the big issue of keeping things hush-hush for its users.

Manta Network (MANTA) is currently trading between $2.85 and $3.25. The token has shown resilience in the market, with a support level at $2.05 and a resistance level at $3.30, indicating a stable trading range.

The future of Manta Network (MANTA) seems optimistic, given the increasing demand for privacy in blockchain transactions. By blending DeFi perks with privacy features, Manta Network (MANTA) could become a hotspot for those seeking secure and private transaction options. But the real trick is nailing down tight security and earning trust, especially when everyone's super wary about their privacy these days. For the network to thrive and keep its prices stable, staying ahead of the curve and embracing market shifts will be key.

Optimism (OP): Staying Profitable Amidst Volatility

Optimism (OP) is grabbing attention for its ability to speed up transactions and cut costs on Ethereum's platform. The network is designed to cut both the expense and delay tied to Ethereum transactions, a game-changer for everyone feeling the pinch. 

The Optimism (OP) token is experiencing price fluctuations within the range of $2.85 to $3.52. The 10-day and 100-day Moving Averages indicate a closely contested market sentiment. Support levels at $1.92 and $2.59 and resistance levels at $3.93 and $4.60 suggest a volatile yet potentially rewarding market for traders.

Optimism (OP) got a real shot at shaking things up by making Ethereum transactions faster and smoother. If major DeFi players jump on board, this network could really take off.  In this cutthroat arena, where it's competing against a slew of other scale-up techs, its victory depends on always bringing something new to the table, while keeping things tightly secured and user friendly. Shifting market trends and new rules can really shake up its financial footing and future growth.

Altcoins are experiencing price dips, but savvy investors see this as a prime chance to buy in before the next expected rally. Following the approval of the spot Bitcoin ETF, altcoins have experienced a notable price drop, yet this is seen as a potential buying opportunity, anticipating future surges. The altcoin market cap has notably increased, with Ethereum leading the top altcoins but underperforming in comparison to the wider market. The crypto scene is buzzing about new players like Arbitrum (ARB), Manta Network (MANTA), and Optimism (OP). They are grabbing attention with their promising growth prospects in the bustling altcoin arena. These cryptos are set to skyrocket in 2024 because they are tackling the big challenges of making transactions faster and keeping our financial info under wraps. For these digital currencies to be on top in 2024, they will need rock-solid security, quick processing times, and the ability to pull in a crowd despite the ever-shifting landscape of DeFi and its fierce rivals.

Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

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 1/29/2024

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