Cody Buffinton, the host of the highly popular Altcoin Buzz YouTube channel, has identified three altcoins that he believes are poised for significant rallies. These altcoins are Ondo (ONDO), Near Protocol (NEAR), and Sui Network (SUI).
In a YouTube video posted on June 27, 2024, Cody revealed his list, stating that these altcoins have immense potential for substantial price increases.
Ondo (ONDO) takes the top spot on Cody’s list. This altcoin is the governance token for Flux Finance and Ondo DAO. Notably, Ondo is a platform supported by Coinbase that combines blockchain technology with real-world assets (RWA) for tokenization purposes.
According to Cody, many investors predicted a bullish rally for ONDO after its price soared to an all-time high (ATH) of $1.48 on June 3. However, ONDO’s price has since dropped by 23.12% and is currently trading at $1.14.
Despite this, recent developments suggest that ONDO may surpass its previous ATH. Cody highlighted ONDO’s realized cap metric, which indicates distribution and accumulation areas, standing at $1.15 billion during the video. He explained that if this metric exceeds the market cap, it suggests a potential price increase, and vice versa. With the market cap currently at $1.7 billion, Cody believes ONDO is poised for a price surge. Currently, ONDO ranks as the 53rd largest cryptocurrency by market cap.
Near Protocol (NEAR) is the second altcoin on Cody’s list that he believes is ready for an impressive rally. NEAR is the native token of Near Protocol, a Layer-1 blockchain platform launched in 2018. This platform enables developers to create and launch decentralized applications (dApps).
Cody stated that Near Protocol gained significant attention in the first half of 2024 due to increased network activities. This is evident in the spike in Near Protocol’s Total Value Locked (TVL), which surged from $90 million in January to $324.5 million this month.
Furthermore, Cody noted that the network’s transaction volume has been rapidly growing since the beginning of the year. He speculated that this increase in network activities indicates that more funds are flowing into the project than out of it, reflecting sustained user optimism and confidence in the cryptocurrency.
NEAR is currently trading at $5, with a daily decline of 2.7%. It boasts a market cap of $5.47 billion, making it the 20th largest cryptocurrency.
The third and final altcoin on Cody’s list is Sui (SUI), the primary token of the well-known layer-1 blockchain Sui. Cody highlighted the recent strategic partnership with digital asset custody provider Copper as a catalyst for SUI’s potential rally.
“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.
As of now, SUI is trading at $0.7978, reflecting a daily decrease of 3.62%. It is ranked as the 47th largest cryptocurrency, with a market cap of $1.93 billion. Despite Cody’s recommendation, it is crucial to conduct thorough research before investing in these tokens.
Disclaimer: This content is for informational purposes only 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 opinions of The Crypto Basic. Readers are advised to conduct their own research before making any investment decisions. The Crypto Basic is not liable for any financial losses incurred.