Cody Buffinton, the host of the popular crypto YouTube channel Altcoin Buzz, highlights the top three altcoins primed for huge rallies, including Ondo (ONDO), Near Protocol (NEAR), and Sui Network (SUI).
The industry commentator disclosed the list in a YouTube video posted on June 27, 2024, stating that the altcoins have huge potential for significant rallies.
Ondo (ONDO)
At the top of the list is ONDO, the governance token of Flux Finance and Ondo DAO. Notably, Ondo is a Coinbase-backed securities tokenization platform that combines blockchain tech with real-world assets (RWA).
According to Cody, several investors anticipated a bullish rally for ONDO after its price reached an all-time high (ATH) of $1.48 on June 3. However, ONDO’s price has plunged 23.12% from its ATH, currently trading at $1.14.
Notably, the expert said recent developments suggest that ONDO could be on track to surpass its previous ATH. In particular, he noted that ONDO’s realized cap metric, which identifies distribution and accumulation areas, stood at $1.15 billion during the video.
He added that if the metric surpasses the market cap, it indicates a potential price decrease, and vice versa. With the market cap at $1.7 billion, Cody said ONDO could be primed for a price surge. Meanwhile, ONDO is ranked the 53rd biggest cryptocurrency by market cap.
Near Protocol (NEAR)
According to the crypto expert, NEAR is the second altcoin set for a jaw-dropping rally. For context, NEAR is the native token of Near Protocol, a Layer-1 blockchain launched in 2018. The platform allows developers to create and launch decentralized applications (dApps).
He claimed Near Protocol gained significant attention in the first half of 2024 due to its increased network activities. This is reflected in the spike in Near Protocol’s TVL, which surged from $90 million in January to $324.5 million this month.
Additionally, Cody said the network’s transaction volume has grown rapidly since the beginning of this year. He speculated that the increasing network activities of Near Protocol indicate that the project is seeing more inflows than outflows. He characterized this development as sustained user optimism and confidence in the cryptocurrency.
NEAR is trading at $5 at press time, with a daily decline of 2.7%. The coin boasts a market cap of $5.47 billion, making it the 20th biggest cryptocurrency.
Sui (SUI)
The third and last asset in Cody’s list of altcoins primed for a rally is SUI, the primary token of the renowned layer-1 blockchain Sui. The YouTuber spotlighted the recent strategic partnership with digital asset custody provider Copper as a catalyst for SUI’s potential rally.
We are pleased to announce a strategic partnership between @SuiNetwork and @CopperHQ 🚀
This partnership establishes Copper as the first institutional custodian for Sui🌐
Details about this event are below 👇🧵#SuiNetwork #BuildSui #Copper pic.twitter.com/TzGC1tAua1
— Sui Corner (@SuiCorner) June 27, 2024
“With Copper’s custody solution already operational for Sui’s native tokens, the platform is set to broaden its appeal to institutional clients seeking secure and compliant services,” Cody remarked.
At the time of writing, SUI trades at $0.7978, reflecting a daily decrease of 3.62%. The coin is also ranked as the 47th biggest cryptocurrency, with a market cap of $1.93 billion. Despite Cody’s recommendation, it is imperative to conduct due diligence on the aforementioned tokens before investing.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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