Over the past year, the crypto market has experienced an impressive revival. From a market cap of $1.8 trillion in January to a whopping $3.9 trillion in December. Although Bitcoin played a key role in this, there were also a number of altcoins that experienced an unprecedented comeback. Below we discuss three notable achievements of 2024 and their potential for 2025.
Dogecoin: A new wave of enthusiasm
Dogecoin (DOGE), once written off as a memecoin, has seen a spectacular increase of more than 350% in 2024. The price rose from $0.081 in January to a peak of $0.466. This revival was fueled by political developments, such as the pro-crypto stance of the incoming Trump administration, and continued support from Elon Musk.
The announcement that Musk would serve as co-chairman of the Department of Government Efficiency (DOGE) brought Dogecoin back into the spotlight. Analysts like Mikybull predict that DOGE could even rise to $3 if the current uptrend continues.
Ripple: The legal victory as a catalyst
Ripple’s A court ruling that XRP is not a security in public sales gave the crypto market confidence and weakened the SEC’s grip on other tokens.
Ripple further expanded its position with the launch of the RLUSD stablecoin, which was introduced on December 18 on major platforms such as MoonPay and Uphold. Analysts are bullish on the future of XRP, with long-term forecasts ranging from $8.77 to $17.54.
Hedera Hashgraph: The return to the top 25
Hedera Hashgraph (HBAR) made an impressive comeback in 2024, rising 800% between November and December. This growth was supported by rising demand for decentralized finance (DeFi) solutions and speculation about a potential spot HBAR ETF.
Additionally, the total value locked (TVL) in Hedera’s DeFi ecosystem increased from $53 million in January to nearly $200 million in December. Platforms such as SaucerSwap and Stader have played a crucial role in this growth.
Looking to 2025: Always remain vigilant
Although these altcoins have made huge gains in 2024, analysts warn about the crypto market’s inherent volatility. Investors should be prepared for possible corrections, but the momentum and fundamentals of these projects make them promising for the near future.
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Source: https://newsbit.nl/drie-cryptomunten-die-een-comeback-maakten-in-2024-en-mogelijk-blijven-stijgen-in-2025/
