3 Cryptocurrencies Set to Surpass Bitcoin's Gains This Week

Since last weekend, the most major cryptocurrencies have witnessed a notable recovery following the Bitcoin price reversal from $58,800 to $68,400.

Bitcoin price prediction shows a steady recovery from last month’s lows. However, three cryptocurrencies are showing even more potential for gains this week with a potential breakout, TVL surge, and on-chain recovery.

Here are 3 cryptocurrencies that could outshine BTC this week.

Solana (SOL)

SOL coin tops our list of cryptocurrencies due to its high transaction speed, scalability, and low transaction costs. At press time, the Solana price prediction had traded at $154, with a market cap of $72.06 billion.

Despite a seven-month consolidation, the Solana price is set for major recovery amid the on-chain recovery and Grayscale’s filing for multi-crypto ETF, including SOL.

According to TheBlock data, Solana’s number of active addresses has surged from 3.06 Million to 4.82 Million— a 57% increase— within two weeks.

This rise in active addresses indicates growing engagement and adoption within the Solana ecosystem, boosting demand pressure for its native cryptocurrency.

Dogecoin (DOGE)

Meme cryptocurrencies have been some of the fastest movers in the crypto market due to their volatility and speculative trading. DOGE, the largest memecoin by market cap, highlights the above theory with an 8-day rally, which uplifted its price from $0.105 to $0.14 within a fortnight.

This 33% increase has provided the Dogecoin price prediction with a decisive breakout from a 4-month consolidation, signaling the potential for a higher rally.

According to Santiment data, DOGE whale wallets holding between 10 million and 100 million DOGE have increased their holdings significantly, rising from 14.59 billion to 18.68 billion coins since August 2023. The large holder’s accumulation often coincides with a major market reversal and provides a renewed recovery.

Sui (SUI)

The SUI coin emerges among the top-performing cryptocurrencies of 2024. From August to mid-October, the coin price rallied from $0.46 to $2.11, accounting for 412% growth, while the market cap surged to $5.78 Billion.

Mirroring the price recovery, the SUI’s total volume locked (TVL) witnessed a remarkable surge that recently crossed the $1 Billion milestone. Theoretically, this rise indicates investors’ confidence as they add more capital to SUI’s Decentralized Finance (DeFi) protocol.

The SUI price sustainability above $2 hints the buyers could prolong the current recovery in the coming week.

Commonly Asked Questions (FAQs)

1. Which cryptocurrencies are expected to outshine BTC this week?

Solana (SOL), Dogecoin (DOGE), and Sui (SUI) are showing greater potential for gains this week.

2. Why is Solana (SOL) expected to outperform Bitcoin this week?

Solana (SOL) is expected to outshine Bitcoin this week due to its high transaction speed, scalability, and on-chain recovery, which is evident from the increasing active addresses. Additionally, Grayscale’s filing for a multi-crypto ETF, including SOL, is expected to boost its demand.

3. What makes SUI a top-performing cryptocurrency in 2024?

SUI has emerged as a top-performing cryptocurrency in 2024, thanks to its impressive price rally of over 400% from August to mid-October. This growth is attributed to the coin’s strong performance in the DeFi space, which is evident from the increasing total volume locked (TVL) in SUI’s DeFi protocol.

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