Cryptos That Underperformed in 2023 May Thrive in 2024: LTC, DOT & UNI Price to Leap Long

The post Cryptos That Underperformed in 2023 May Thrive in 2024: LTC, DOT & UNI Price to Leap Long appeared first on Coinpedia Fintech News

With less than a fortnight left, the crypto markets appear to be preparing for a bullish close for the year. Many tokens displayed iconic rallies and entered the top 30 cryptos in a very short time frame. Besides, the popular tokens, which had rallied extensively before, were seen struggling to strengthen their presence.

However, with the beginning of 2024, market participants expect the year to start with a fine bull run. This could be when the liquidity flow returns to these altcoins, which have been trading with extreme strength, withstanding bearish interference.

Litecoin (LTC) 

Litecoin price continues to trade under the shade as the token fails to register huge price jumps, even though the platform underwent a huge upgrade this year. The price did respond positively to the Litecoin Halving event, but the bears cashed out well ahead of time. Since then, the price has maintained an ascending consolidation.

However, Litecoin has hit a major milestone of 10 million ordinals and 1 million transactions per day. This indicates an increase in usage and user confidence in crypto. Besides, 74 million LTC are now in circulation, with only 10 million left to mine. The rising optimism and scarcity may eventually impact the LTC price in 2024.

Polkadot (DOT) 

Ever since its inception, the Polkadot price has maintained a steady rise and reached levels above $50. The rejection from the highs caused the price to remain under an acute bearish influence for almost 24 months. Although the bulls attempted to lift the price above the bearish claws, they failed to clear the pivotal resistance at $8.

In the coming year, Polkadot is gearing up for an upgrade, Polkadot 2.0, which aims to offer more blockspace and also focus on coretime allocation. Alongside, Polkadot ordinals are reportedly on testnet while the community is working round the clock to ensure the readiness of the product for launch. The upgrade is believed to be released in early 2024, which may have a larger impact on the DOT price.

Uniswap (UNI) 

The Uniswap token started its trading journey with a 5000% jump in its price, marking an ATH above $8 in just a week. Further, the 2021 bull run elevated the price to $48, which remains the current ATH of the UNI price. Unfortunately, the price remains under extensive consolidation after the 2022 bear market, preventing the rally from rising above $8.

With the resurgence of bullish sentiments, several of the largest altcoins, including Uniswap, show undervaluation when combining short-, mid-, and long-term capitalizations. The current market cap of Uniswap is trading above the realised cap, hinting that it could make up ground this summer in 2024.