4 Altcoins To Buy For 2024 Bull Run As Token Unlocks Beckon

10 months ago 7

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4 Altcoins To Buy For 2024 Bull Run As Token Unlocks Beckon

The digital currency landscape brims with potential as the 2024 horizon approaches, highlighting Four altcoins set for substantial growth. Immutable (IMX), Dymension (DYM), Ethereum Name Service (ENS), and Sui (SUI) stand out, offering promising developments and investment opportunities.

The strategic unlocking of tokens for each platform signals a pivotal moment for investors, potentially influencing their market value and adoption rates.

1. Immutable (IMX)

Immutable (IMX) distinguishes itself as Ethereum’s premier Layer-2 solution tailored for NFTs, offering real-time trading confirmations, vast transaction capabilities, and eliminating gas fees, all while maintaining user ownership.

Positioned as a leader in safeguarding NFT trades, its decentralized framework facilitates effortless creation and trading of ERC-721 and ERC-20 tokens, significantly reducing costs and bolstering asset security.

Recently, Immutable has seen a significant uptick in its market performance, with a notable 76% increase in its valuation over the last month, signaling a strong upward trend. The IMX token grew remarkably in the latest trading session, climbing over 3% to reach $3.40. This surge is accompanied by the release of 34.19 million IMX tokens, about 1.71% of its total supply, marking it a top contender for investment in the altcoin space.

2. Dymension (DYM)

Dymension (DYM) introduces a blockchain platform, creating a modular settlement layer critical for the development of enshrined rollups within the expansive Cosmos ecosystem. This cutting-edge approach transforms how blockchain can scale, providing essential tools and infrastructure for various decentralized applications.

Dymension, implementing custom rollups, has become a reality, marking a significant leap forward for the metaverse, gaming, and other blockchain-based services demanding high transaction throughput.

The Dymension platform has officially announced its mainnet launch, marking a major milestone for the project. Accompanying this launch, Dymension has initiated a substantial airdrop, distributing $390 million worth of DYM tokens to its community.

As of the latest update, Dymension price is trading at $7.09, reflecting a 1.37% increase within the last day. The platform reached its peak value on February 14, 2024, at $8.57 but has since adjusted to a 17.2% decrease from that all-time high.

Moreover, a recent unlocking event released 3.72 million DYM tokens into circulation, which represents just 0.37% of its total supply, indicating strategic token management aimed at maintaining market stability and growth.

3. Ethereum Name Service (ENS)

Ethereum Name Service (ENS) emerges as a decentralized, flexible naming protocol powered by the Ethereum blockchain. Now at $22.25, ENS value has seen a minor retreat of 1.13% in the last day. With a circulating supply of 30.80 million tokens and a recent release of 1.46 million tokens, or 1.46% of its total supply, ENS remains a pivotal player in the domain naming space for blockchain.

4. Sui (SUI)

Sui, a Layer 1 blockchain and smart contract platform, is swiftly redefining digital asset management, emphasizing speed, privacy, security, and universal access. Achieving a remarkable feat by entering the top 10 DeFi networks within a year, Sui underscores the dynamic nature of decentralized finance with its strategic advancements.

The platform’s valuation has enjoyed an upward trajectory, with Sui price hitting $1.69, marking a growth of over 2%. This uptick and the unlocking of 66.13 million SUI tokens, or 0.66% of its total supply, signals robust market confidence. Sui’s ascent and innovative blockchain solutions in Total Value Locked (TVL) solidify its status as a key altcoin for investors.

Bottom Line

The altcoins Immutable X, Dymension, Ethereum Name Service, and Sui showcase promising growth as 2024 approaches, driven by technological advancements and strategic token unlocks. Their distinct contributions to the blockchain and NFT sectors position them as top contenders for investors seeking to capitalize on the upcoming bull run.