Bitcoin and Binance Coin were the first major cryptocurrencies to set new price ATHs this cycle. Experts are confident that more coins will soon follow the leaders. In this context, a CryptoQuant community analyst used by Maartunn shared his views. The analyst pointed to all-time highs for two altcoin prices.
According to experts, these 2 altcoin prices are targeting new ATHs!
As you follow from Kriptokoin.com, the market is following a very volatile course today. Especially the leading tokens of the market are losing altitude. However, in the longer term, analysts maintain their bullish views. In this context, Solana (SOL) and Toncoin (TON) could be the next cryptos to reach their price ATHs. The Price Decline Heatmap highlighted SOL and TON among all altcoins. This metric shows how far a crypto is from reaching a price record. Such predictions were shared by CryptoQuant community analyst Maartunn in a recent CryptoQuant QuickTake post.
The expert notes that Solana (SOL) is only 8% below its current ATH. He also emphasises that Toncoin (TON) is closely following 15% below its peak. Solana (SOL) price reached an all-time high of $216 on 9 September 2021. Toncoin (TON) reached its record price level on 15 June 2024, when the price rose above $6.82. The TON euphoria was triggered by the popularity of Notcoin (NOT), Hamster Combat (HAMSTER) and a number of other dApps on TON, as well as Tether’s decision to issue USDT on its blockchain.
Solana outperforms its competitors according to DeFi metrics
Crypto expert Maartunn draws attention to the active development teams of both Solana (SOL) and Toncoin (TON). He also notes that these 2 altcoin projects exhibit strong fundamentals, including active networks. Both altcoin prices have performed well in this rally. However, DeFi activity metrics are following completely different patterns. For Solana (SOL), the current total locked value (TVL) indicator of over $9 billion is almost equal to the ATH set in 2021. In contrast, Toncoin (TON) reached its TVL peak this summer. Since July, the metric has declined from $769 million to $387 million.
The opinions and forecasts in the article are those of the analyst and are not investment advice. As Kriptokoin.com, we strongly recommend that you do your own research before investing.
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