Stacks Is Among the Leading Altcoins in December 2024

byCaptain Frank Sparrow -
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Stacks Is Among the Leading Altcoins in December 2024
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Stacks Is Among the Leading Altcoins in December 2024

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If November is green for Bitcoin, December should also be green. Possibly, December might outperform November. The charts don’t lie. The bull run is only getting started. So, we will most likely see a December that outperforms November. This is also good news for altcoins. 

Currently. Bitcoin dominance is still high. Nonetheless, there are already some altcoins that are having a good run. Or their run is about to start during December. My team and I looked at some promising altcoins, including Stacks, that should do well during this December. So, let’s dive in and see what I came up with. Let’s get the most out of this December.

Dogecoin ($DOGE)

My first pick of today’s altcoins is Dogecoin ($DOGE). Dogecoin is a memecoin and it most certainly is memecoin season right now. Whatever way you look at it, Dogecoin is the King of all memecoins.

It has a long history, since it all started as a joke back in 2013. However, it wasn’t until early April 2021 that it went parabolic. In late January 2021, 1 $DOGE was almost at a cent. A month later it was at 8 cents. After that, it went on 4th April from 5 cents to 73 cents in a month. That was on 8th May 2021 and is also its current ATH.

Who would’ve thought that back in 2013? However, in all fairness, there’s no $DOGE without Elon Musk. Once he got involved, that’s when $DOGE skyrocketed. Whenever he posts about $DOGE on X, the price moves upwards.

And there’s more to come. With the new Trump administration, he will have a new position. He will be leading the Department of Government Efficiency or DOGE. This surely is stranger than fiction.

Dogecoin

Source: X

So, with this in place, I can see $DOGE even go higher than its current 40 cent price. It wouldn’t surprise me if we see new ATHs soon.

Stacks ($STX)

It’s been a while since we talked about our friends at Stacks. You already know they are the leading Bitcoin Layer 2. But one thing you may not know is it has one of the best wrapped Bitcoin products with its $sBTC.

Wrapped Bitcoin is a hot topic right now. That’s thanks to Justin Sun’s takeover of $wBTC and the emergence of Coinbase’s $cbBTC. 

sBTC is 1:1 collateral like other wrapped tokens. However, the lack of a custodian is a huge and positive difference between sBTC and other solutions. With sBTC, we don’t have to wonder what Justin Sun will do or if the custodian has all the collateral they say they do.

With Stacks and $sBTC, it’s all transparent and right there for you to see. Plus, it’s all secured by Bitcoin’s hash rate, not by some company’s promises. Anyone who runs a Stacks node can be a signer. This ensures that $sBTC stays decentralized and free of corruption. This makes it the market’s most decentralized and distributed wrapped $BTC token. 

And the lack of custodians makes $sBTC the most censorship-resistant wrapped Bitcoin available. $sBTC actions take place on the Bitcoin blockchain. $sBTC is going multichain, too. Soon, Zeus will offer $sBTC on Solana for Solana users who want programmable Bitcoin for DeFi.

Also coming soon for $sBTC is the full integration with CoinFlip. This means you will be able to withdraw $sBTC from their ATMs around the world when you need liquid cash. OR you can use the ATMs to buy your $sBTC. This will bring both $sBTC and $BTC availability to more people in more places.

Stacks Testnet

$sBTC is on Stacks testnet now. But mainnet is coming soon. Here’s how that first deposit went with 15 Stacks signers. Notice at the bottom right, you see a Bitcoin block transaction hash. This transaction finalizes on the Bitcoin blockchain. That’s instead of in the ledger of a custodian like Justin Sun’s BiT Global. None of the other popular wrapped tokens can offer that.

Go give it a try or if you know you are ready to buy, then go to Curve where you can swap the $sBTC-$wBTC pair today.

Cardano ($ADA)

My third pick for today’s altcoins is Cardano ($ADA). Only a month ago, I called Cardano and Polkadot dinosaurs. Which they are but look at what they’ve done since. $ADA had a 180% run over those last 30 days. Not in my wildest dreams would I have expected that.

Nonetheless, here we are today! $ADA and a couple of other coins from the last bull run, or other dinosaurs, are making a comeback. $XRP, $DOT, $SAND, $SUPER, and a few more, they’re all doing well.

$ADA made it back into the top 10 measured by market cap. Its current price is 94 cents, with a $34 billion market cap. Out of the 45 billion $ADA, 35 billion (~80%) circulate.

However, hold on to your chairs, here may be the reason for $ADA’s current price increase. On 10th November, Charles Hoskinson announced that he may get an advisory role to President Trump. 

In case you don’t know him, Hoskinson is the founder and CEO of Cardano. Some even speculate on a role as secretary of the US Treasury for him. That’s taking it a step further. A position on the newly forming crypto policy team is more likely. Cody, our news presenter, even longed $ADA the other day. Let’s see how this develops.

Raydium ($RAY)

My next altcoins pick is Raydium ($RAY). It’s a DEX on Solana, and in all fairness, I don’t mention Raydium that often. However, it sure deserves it. It had a good run over the last 30 days, with an uptick of 64%. However, over a year, $RAY is up by 1327%. And it’s still 68% away from its ATH in September 2021, of $16.83. The current $RAY price is $5.44. 

$SOL is also on the rise, and so is its ecosystem. Raydium is a perfect example of this. The predictions for $SOL go up to $1,000. That’s a 4x from here. In that case, I can also see a 4x or better, for Raydium. That would mean a new ATH as well.

Raydium is a solid AMM (automated marker maker) that allows for fast and low-cost swaps. It also provides various liquidity pools. It has a TVL of $2.5 billion. With this, it ranks in second spot of all Solana DeFi platforms. 

Only Jito, the liquid staking platform, has a higher TVL on Solana. You can also stake your $RAY on Raydium and use its bridge. It sure looks like Raydium isn’t done yet during this bull run.

Polygon ($POL)

My last pick of today’s altcoins list is Polygon ($POL). In 2022 and part of 2023, I couldn’t get Polygon off the screen. It established plenty of new partnerships, and it also rolled out zkEVM. 

Back to these partnerships, these weren’t just anybody. Nope, they were some top-notch big-name brands, like,

  • Mercedes-Benz
  • Twitter
  • Starbucks
  • Meta
  • Adidas, 
  • Disney Accelerator, and more.

It was mad. 

Polygon

Source: X

Polygon zkEVM is a Layer 2 scaling solution. It uses zk (zero knowledge) proofs and offers low transaction costs. However, Polygon faded a bit, but it looks like it is working on a comeback.

The $MATIC token peaked at almost $3 in December 2021. However, it dropped to 32 cents in late October this year. Ever since, it’s 60% up. 

However, in October 2023, we saw the introduction of their new $POL token. You can use this token among all the Polygon chains. $POL also saw a 60% increase over the last 30 days. The current $POL price is 52 cents with a $4.1 billion market cap. However, in contrast to $MATIC, $POL has an infinite token supply.

Nonetheless, Polygon is on the rise again. For example, Game7 DAO crowned Polygon #1 in gaming with the most titles across ecosystems. So, do you agree with my choices for December? Let me know why you did or didn’t.

Disclaimer

The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers, and their risk tolerance may be different from yours.

We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments, so please do your due diligence. This article has been sponsored by Stacks.

Copyright Altcoin Buzz Pte Ltd.

The post Stacks Is Among the Leading Altcoins in December 2024 appeared first on Altcoin Buzz.





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December 1, 2024 at 07:17AM

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