Altcoins to Watch in December 2024
December could be a pivotal month for altcoins, with several set to experience significant price movements due to upcoming events. Here are five altcoins to watch closely, each with key developments that could shape their market performance this month.
As the crypto market winds down for the year, December presents a strong opportunity for altcoins to show significant growth. Here are five altcoins to keep an eye on, each with key events that could impact their price action:
1. Hyperliquid (HYPE)
Hyperliquid, a new Layer-1 blockchain, has already surged by over 200% since its launch. Trading at $9.51 without being listed on centralized exchanges, the lack of availability on CEXs often leads to higher demand. Given its strong daily volume, HYPE could continue its upward momentum into December.
2. Sui (SUI)
Sui has gained 75% in the last 30 days, with a $210 million token unlock scheduled for December. Such events typically increase supply and volatility, but historically, SUI has seen a price increase following token unlocks. If this trend holds, SUI could rise above $4.40, but if selling pressure increases, it may drop to $2.38.
3. Fantom (FTM)
Fantom’s much-anticipated Sonic upgrade, set for Mainnet launch in December, could increase throughput and further boost its price. FTM has risen 60% in the last month, hitting $1.03. The price may reach $2 with the upgrade, but if the market turns bearish, it may stall around $1.14.
4. Aptos (APT)
Aptos, like SUI, has a $135 million token unlock scheduled, which could trigger bullish price movement. Currently in an ascending triangle pattern, APT might rally towards $20 if demand increases. However, an extreme supply shock could lead to a drop to $10.97.
5. Bonk (BONK)
Bonk’s planned burn of 1 trillion tokens before Christmas could reduce supply, driving up the price. With strong support at $0.0000043, the meme coin could rise to $0.000059 if the burn succeeds.
Bottom Line: These altcoins look promising, and may be poised for strong growth in December. However, caution is advised as these altcoins are very volatile and could also end up falling a lot in turn.
