Altcoins in 2024: Which coins really work and why

Bitcoin is the king, but altcoins are the entire rest of the crypto world. And if you are just starting to understand cryptocurrencies, here is what you need to know: altcoins are not just “BTC imitations”, they are entire ecosystems with their own logic and potential.

Why do altcoins even exist?

When Satoshi created Bitcoin, he solved one problem — peer-to-peer money transfer. But it quickly became clear: slow speed, expensive fees, huge energy consumption. Altcoins emerged as a response to these issues. But over 15 years, they have grown into something much bigger.

Today, there are three types of altcoins in crypto:

Platforms — Ethereum, Solana, Cardano. They build decentralized applications (dApps) and smart contracts.

Specialized tokens — Chainlink (oracles for data retrieval), Uniswap and Aave (decentralized exchanges and loans).

Stablecoins and meme coins — USDT for stability, Dogecoin just for fun, but sometimes fun brings money.

Top altcoins to watch

Ethereum (ETH)

This is not just a coin - it is a platform on which half of crypto operates. After the transition to Proof-of-Stake (Ethereum 2.0), the network became more environmentally friendly and faster. Layer 2 solutions like Arbitrum and Optimism reduced fees by 100 times. DeFi, NFT, games - all of this runs on Ethereum.

Fact: More than $100 billion is locked in DeFi, and most of it is on Ethereum.

Binance Coin (BNB)

The native token of the largest exchange. BNB has a real use case - reducing fees on Binance and operating in Binance Smart Chain. Plus, Binance regularly burns a portion of the tokens, reducing supply. It's simple math: demand rises, supply falls.

Cardano (ADA)

The blockchain developed by Charles Hoskinson (, former from Ethereum). Cardano is known for its scientific approach and caution in updates. It is not the fastest network, but one of the most reliable.

Polkadot (DOT)

The task of Polkadot is to connect different blockchains into one network. This solves the problem of fragmentation in the crypto world. If the vision is realized, DOT may rise significantly.

Solana (SOL)

The fastest public network at the moment: 65k transactions per second, fees are pennies. The problem: sometimes the network goes down and restarts. If the developers solve this, Solana will become a truly universal platform.

Chainlink (LINK)

A decentralized oracle is a tool that brings real-world data to the blockchain. Without it, DeFi applications cannot function properly. The demand for LINK is rising along with the rise of DeFi.

How not to mess up when choosing an altcoin?

1. Look for a real problem

Better a project that solves one problem well than 100 beautiful promises. Ethereum addresses the scalability of smart contracts. Chainlink provides reliable data. Solana offers speed. It works.

2. Check the team

Are there any faces? What is their background? If the startup was founded by a guy who previously launched several successful projects — that's a plus. If the founder is unknown — that's a red flag.

3. Look at the activity of the ecosystem

How many dApps are being developed on the platform? Is the volume of transactions increasing? This can be checked on DefillLama and DuneAnalytics.

4. Remember the volatility

Altcoins can drop by 50% in a week and rise by 200% in the next month. Invest as much as you are willing to lose.

Withdrawal

Altcoins are not a lottery if you choose projects with real technology and ecosystem. Ethereum, Solana, Polkadot, Cardano are not meme coins, they are working platforms on which billions are spinning. But like with all investments: analyze, don't fall for FOMO, diversify risk.