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11 Cryptos To Add To Your Portfolio Before Altcoin Season

18 mins
Updated by May Woods
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As the 2024 bull run advances, many investors are looking to altcoins to deliver gains. So, which crypto should you add to your portfolio before altcoin season kicks in? This guide lists 11 of the best cryptos that could deliver potential returns in 2024 and beyond.

Methodology

Top cryptos to add to your portfolio before altcoin season

1. Ethereum (ETH)

$3,211.47*
Where to buy
YouHodler
Key features
Supports huge range of DApps
Ranking by market cap*
2nd

2. Binance Coin (BNB)

$598.59*
Where to buy
eToro
Key feature
Native coin of Binance ecosystem
Market cap rank*
4th

3. Solana (SOL)

$155.60*
Where to buy
CoinEx
Key feature
Low latency
Market cap rank*
5th

4. Ripple (XRP)

$0.5602*
Where to buy
Stormgain
Key feature
Facilitates cross-border payments
Market cap rank*
7th

5. Dogecoin (DOGE)

$0.1621*
Where to buy
YouHodler
Key feature
Leading meme coin
Market cap rank*
8th

6. Toncoin (TON)

$5.86*
Where to buy
Kraken
Key feature
Telegram integration
Market cap rank*
9th

7. Cardano (ADA)

$0.5209*
Where to buy
CoinEx
Key feature
Scalability and speed
Market cap rank
10

8. Shiba Inu (SHIB)

$0.00002713*
Where to buy
Bybit
Key feature
Bought-in community
Market cap rank*
11th

9. Avalanche (AVAX)

$39.64*
Where to buy
Stormgain
Key feature
Speed and DApp support
Market cap rank*
12th

10. Polkadot (DOT)

$7.55*
Where to buy
YouHodler
Key feature
Parachain innovation
Market cap rank*
13th

11. Bitcoin Cash (BCH)

$527.89*
Where to buy
eToro
Key feature
Ideal for daily spending
Market cap rank*
14th

*All market cap rankings and price information is based on CoinMarketCap data as of April 22, 2024.

What are altcoins?

base

Altcoins, or alternative coins, represent all cryptocurrencies except Bitcoin. These coins emerged as alternatives to Bitcoin and traditional fiat currencies and are integral to the crypto ecosystem in 2024. Many altcoins emerged with the aim of improving on certain weaker elements of the Bitcoin network, such as transaction speeds and energy efficiency.

altcoin market cap
Altcoin market cap chart: CoinGecko

Altcoin season happens when Bitcoin dominance falls, and altcoins outperform BTC. For crypto investors that have diversified beyond BTC (or simply hold altcoin portfolios), this is a key event as it signals potential for incoming gains.

Altcoin investment strategies

Investing in altcoins can be rewarding but requires careful strategy and attention to detail. Here are some altcoin investment strategies to keep in mind:

  • Research & narrative selection: Research market narratives and select altcoins that align with emerging trends or solve real-world problems. This involves examining each project’s vision, use cases, and community engagement.
  • Diversify your investments: Spread your assets across multiple altcoins to reduce risk and increase potential gains. 
  • Dig deep into research: Investigate each altcoin’s market potential, technology, team, and roadmap. Understanding the fundamentals and technology behind an altcoin can provide insights into its long-term viability.
  • Stay updated on market trends: Keep up-to-date with cryptocurrency news and developments. Regulatory changes, technological advancements, and market sentiment can all impact altcoin prices.
  • Consider staking and yield farming: Explore staking or yield farming if the altcoin supports it to earn interest on your holdings. This can provide an additional revenue stream beyond capital appreciation.

Incorporating these strategies into your altcoin investment approach can help you navigate the market more effectively and potentially enhance your investment outcomes.

How to choose the best crypto to invest in for altcoin season

Altcoins

Choosing the best cryptocurrency to invest in during the altcoin season requires a detailed and specific strategy. Here are some points to guide your decision-making:

  • Identify trending sectors: Pinpoint which sectors within the crypto market are gaining traction, such as DeFi (decentralized finance), NFTs (non-fungible tokens), or web3 technologies. Investing in altcoins that are leaders in these hot sectors can be beneficial.
  • Analyze developer activity: Look at the development activity on GitHub or other repositories. High active development and community contributions signal a healthy, growing project.
  • Consider tokenomics: Understand the supply mechanics like maximum supply limits, circulation supply, and token burning mechanisms. Coins with deflationary models or those that reduce supply over time offer increased value during peak periods.
  • Assess network performance and scalability: Consider how the underlying blockchain performs under stress and its scalability solutions. Networks that handle higher transaction volumes without significant fees or delays are preferable.
  • Review governance models: Evaluate how decisions are made within the project’s ecosystem. Projects with decentralized and transparent governance can adapt and evolve more effectively, making them potentially more resilient investments.
  • Evaluate global reach: Consider altcoins with a broader worldwide reach and higher adoption rates. These can often maintain better liquidity and resilience during market downturns.

By focusing on these specific and unique aspects, you can refine your selection process and better identify promising projects during altcoin season, potentially leading to more strategic and informed investment choices.

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Which crypto suits your investment portfolio best?

When deciding which coins to add to your crypto portfolio before altcoin season, it’s crucial to consider established names. While you may see larger gains investing in riskier projects, such as Base chain meme coins or Solana meme coins, you are also much more likely to be at the mercy of market manipulators. Remember that diversification is key. Never invest more than you can afford to lose. It’s essential to do thorough research to build a balanced crypto portfolio that aligns with your risk tolerance and investment goals.

Frequently asked questions

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Ish Bautista
With over 6 years of marketing, content, and editing experience, Ish boasts a diverse background. Previously, she's lived in one of the startup centers of the world: Tel Aviv. Ish has navigated the realms of Business Intelligence, publishing, and even gaming. When she's not immersed in editing tech pieces or exploring new AI tools, you'll find Ish honing her combat skills. She previously worked with crypto start-ups and holds a deep appreciation for the sustainability aspect of blockchain...
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