The Bitcoin halving event this week has revitalized the cryptocurrency market, pushing prices higher. Toncoin (TON), Solana (SOL), and Sui (SUI) stand out with strong performance indicators, suggesting substantial upside potential. These Layer 1 altcoins to buy could be the key to turning $1000 into $5000 in the wake of the Bitcoin halving.

1. Toncoin (TON)

Toncoin (TON), developed by Telegram, is transforming the blockchain landscape with its robust layer-1 technology. Renowned for scalability and user-friendliness, this blockchain is tailored for a large user base. It offers minimal transaction fees and boasts rapid processing times.

Toncoin price chart

Currently, the price of Toncoin stands at $7.11, marking an 8% increase in the last 24 hours and a 24% rise over the week. This growth indicates a strong bullish trend. Now ranked 8th on CoinMarketCap, TON’s market capitalization has reached $24.76 billion, surpassing Dogecoin (DOGE) and securing its position as the eighth-largest cryptocurrency.

Over the past year, Toncoin has demonstrated remarkable growth, soaring by 205%. Over the past month, TON has seen an increase of over 90%. This significant climb underscores Toncoin’s potential as a top investment choice. The current trend suggests it could be an optimal layer-1 altcoin to consider for substantial returns, especially during the upcoming BTC halving week.

2. Solana (SOL)

Solana (SOL), an open-source initiative, leverages blockchain’s permissionless nature for decentralized finance (DeFi) solutions. Its protocol is crafted to aid in the development of decentralized applications (DApps). Solana’s design integrates a proof-of-history (PoH) consensus with the fundamental proof-of-stake (PoS) consensus, enhancing scalability.

Over the past 24 hours, Solana price has climbed over 8%, reaching $154, despite recent market dips and corrections. This increase follows a period of steady growth, pushing its price beyond the crucial $150 mark.

Solana price chart

According to defilLIema data, the network’s robustness is evident from its rising Total Value Locked (TVL) and bustling dApp activity. Since the beginning of the year, its TVL has shown significant growth. This marks Solana as a standout among layer 1 altcoins, particularly appealing to investors looking to significantly increase their returns, especially during the upcoming BTC halving week.

3. Sui (SUI)

Sui (SUI), a cutting-edge Layer 1 blockchain and smart contract platform, is making waves by emphasizing rapid, secure, private, and accessible digital asset management. 

Within its first year, it has risen into the top 10 DeFi networks, underlining its significant role in the dynamic decentralized finance sector. This status marks it as a strong investment prospect.

The platform is becoming popular for its efficient blockchain solutions, notably in TVL. Recently, Sui price has risen to $1.26, an increase of over 9% in just 24 hours. 

Sui price chart

This jump points to a robust buying signal in the market, even with an extended decline in recent weeks. Such progress highlights increasing trust in Sui as a top altcoin, potentially turning a $1,000 investment into $5,000 during the BTC halving week.

Bottom Line

With Bitcoin halving on the horizon, TON, SOL, and SUI present viable options for turning a modest investment into a more significant sum. Their current momentum and market trends suggest these altcoins could potentially be five times an initial investment of $1,000.

The post Top 3 Layer 1 Altcoins To Buy To Turn $1000 Into $5,000 BTC Halving Week appeared first on CoinGape.

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Filed under: News - @ January 1, 1970 12:00 am