Some analysts think the market isn’t optimistic enough about Bitcoin, given all the big money pouring in. In fact, U.S. ETFs are on track to own more Bitcoin than Satoshi Nakamoto by October, with BlackRock likely to become the largest holder next year. Amid these conflicting Bitcoin developments, analyst Altcoin Buzz has analyzed two altcoins that are poised for a major comeback in tandem with Bitcoin.
Coin 1: Is Polkadot Ready for a Comeback in 2024?
Polkadot may not be as well-known yet, but it is making some big changes that could make it a big comeback in 2024. Polkadot is moving from version 1.0 to 2.0, introducing some cool new features that will make it more flexible and powerful.
The upgrade introduces something called Agile Core Time, Elastic Scaling, and Asynchronous Backing. These changes make Polkadot look a lot like cloud computing platforms (think Amazon Web Services). This means that projects on Polkadot can use resources more efficiently, scaling up or down as needed. High-demand projects can process more transactions, and new projects only pay for what they use, making it more cost-effective.
These developments could make Polkadot a strong contender in the crypto space next year. Whether this will bring Polkadot more attention remains to be seen, but it is certainly one to watch.
Coin 2: Helium’s 20% Rally
Helium, a blockchain network designed for the Internet of Things (IoT), recently saw its price jump 12% in a single day, making it one of the biggest gainers in the crypto market. Its market cap now stands at $1.14 billion, but is still down 88% from its all-time high in 2021.
Helium has created a decentralized network that allows IoT devices to communicate without relying on traditional telecom services. This recent price hike comes after Helium partnered with two major U.S. carriers, who are testing Helium’s network to handle their mobile traffic. If this partnership is successful, it could put Helium back in the spotlight.
