Discover how the recent surge in crypto funding is poised to revolutionize the altcoin market in 2024

Recent Crypto funding surge set to transform the Altcoin market in 2024; 5 top Cryptos to watch Explore the top 5 crypto choices to watch for significant growth and innovation

Recent cryptocurrency updates from PitchBook revealed that crypto startup funding increased by 40.3% from the last quarter of 2023 to $2.4 billion in the first quarter of 2024. In addition to this trend, the global venture capital investments recently dropped to a near five-year low, yet the approval of bitcoin spot ETFs by firms like BlackRock and Fidelity acted as a catalyst for Bitcoin price to reach as high as $73,803 this year. However, Bitcoin has since dropped to lower levels, but now that Bitcoin is rising again, the altcoin market is becoming expectant.

More importantly, the recent statistics surrounding crypto startup funding plus the new ETFs grant more legitimacy to the crypto market. Besides this development can potentially boost altcoin adoption in the crypto market. Likewise, given the potential for increasing capital inflow in the crypto market, investors are likely to diversify their portfolios, which also places high demand for top altcoins. In light of this, here are 5 cryptos you should watch out for.

KangaMoon (KANG) Remains One of The Best Meme Coins To Watch After New Listings

Now that institutional interest in cryptocurrency is increasing, the presale market is going to be flooded with enough attention and only unique gems will be able to see significant attention. KangaMoon (KANG) is one of these coins as it was just listed by two high ranking crypto market trackers, including CoinMarket and CoinGecko. Amongst other reasons, Kangamoom stands out for its SocialFi and GameFi effort to create an immersive meme-backed gameplay.

This unique approach has led to a 400% price increase and attracted a dedicated community of over 30,000 users. In its gameplay, players can engage in battles and competitions to earn valuable $KANG tokens and NFTs. This interactive gaming system generates lasting demand for KANG which can further solidify its potential to be among the top altcoins to buy this year.
KangaMoon also rewards its social media engagement community with free KANG tokens which is even inviting more users to actively participate in the community challenge that involves commenting and sharing KangaMoon social media posts. This builds a natural relationship that drives the project's growth, resulting in a passionate and vocal online presence.

Meanwhile, the presale token has since raised nearly $7 million and is on track to surpass the $8 million mark possibly by the end of May. This prediction is bolstered by the upcoming BitMart listing. Moreover, the price has risen from $0.005 to $0.025 during the presale. But, analysts predict a further 2,000% increase almost immediately after launch and future exchange listings.

Render network takes digital content to the next level

The Render Network makes use of blockchain technology for the purpose of allowing independent artists and small studios an easier time creating high-quality digital content. This is done by decentralizing the rendering process and using the Render token to compensate GPU owners and encourage participation. In the bull market this year, Render token is expected to still remain a promising altcoin to buy due to this innovative technology.

As blockchain technology and cryptocurrency become more widely used, the value and usefulness of the Render token are likely to grow. This could lead to the Render Network being used in other areas beyond digital content creation, such as AI, scientific computing, and machine learning. This makes Render a valuable investment in the dynamic digital world.

Near Protocol (NEAR) fast transaction speed sets it among top altcoins to buy

NEAR Protocol has demonstrated exceptional potential since its debut in the crypto market, climbing high the rank among the top altcoins. Notably, NEAR Protocol addresses the long-standing concern inherent in decentralized network scalability by introducing a sharding and a proof-of-stake consensus mechanism. This innovative feature set it apart from established platforms like Ethereum.

So far through this year, NEAR Protocol has attracted significant attention from major investors, which shows its potential in the DeFi market and AI space. Early this year, NEAR Protocol token grew to over $9, and it has since garnered a lot of positive sentiment. Despite market fluctuations, focus on performance and scalability, along with ongoing improvements, positions it as a strong Near Protocol as a top gainer this year.

Jupiter Exchange is Solana’s new DEX with incredible potential for high valuation

Jupiter a decentralized exchange (DEX) aggregator on the Solana blockchain, has risen to a successful heights as the token is currently one of the top crypto exchanges in the market. The $700 million worth of JUP tokens airdrops that it distributed to nearly a million active users in February already did a lot of traction for the token. As the market anticipates the next bull run, Jupiter token is expected to see huge gains.

The usefulness of the $JUP token within the Jupiter ecosystem, along with the recent increase in community involvement and liquidity from the token distribution, makes it more appealing. By combining liquidity from multiple DEXs and providing advanced trading options, Jupiter offers a compelling value proposition for traders. With more adoption and improvements, Jupiter should capture a significant portion of the DeFi market, which should drive up the value of the Jupiter token during the next bull market.

Floki Token pace is on par with forward-thinking Cryptos to buy

Floki started as a meme coin but has now become a web3 project with practical uses and a strong community. The platform really became a forward thinking meme coin making the best use of the Ethereum network and Binance Smart. Its most integral concept so far is the Valhalla NFT Metaverse. This is a gaming platform that is essential to the FLOKI token. It was set up to tap into the growing Metaverse and tokenization industries, potentially increasing demand for Floki token.

The project has attracted attention from major investors, such as DWF Labs, which recently bought $10 million worth of FLOKI tokens. This investment, combined with the token burn of $11 million worth of tokens, tells that the future of Floki is strong. In a nutshell, Floki is well-positioned to take advantage of the next bull market.

Like NEAR Protocol and Jupiter, Can KangaMoon (KANG) attract a large institutional investment this year?

KangaMoon can potentially see an institutional investment this year due to its potential to lock in a substantial size of the GameFi market. This is an attribute that large institutions will likely want to leverage on.

Discover the exciting opportunities of the KangaMoon (KANG) Presale here
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This story originally appeared on: India Times - Author:Faqs of Insurances