Cardano

Cryptocurrency

Solana

Algorand

Fantom

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 <p class="paragraph">Cardano (ADA) was created in 2017 by mixing the Proof of Stake consensus algorithm with the UTXO model. This innovative approach led the way in the seek and experimentation for more scalable layer-1 blockchains.</p>
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 <p class="paragraph">Now positioned among the top 10 <a rel="noopener noreferrer nofollow" title="cryptocurrencies" href="https://thebittimes.com/tag/cryptocurrencies.html">cryptocurrencies</a> by market capitalization, Cardano’s history is living evidence of experimentation, resilience, and <a rel="noopener noreferrer nofollow" title="growth" href="https://thebittimes.com/tag/growth.html">growth</a>. One of the main criticisms of the project lies in the complexity of protocol development due to its unique characteristics, which directly affects the ecosystem rise in total value locked (TVL).</p>
 <p class="paragraph">In this aspect, the account <em>dApps On Cardano</em> reported another major pullback for ADA’s TVL. Demonstrating that old challenges are still haunting this layer-1 <a rel="noopener noreferrer nofollow" title="growth" href="https://thebittimes.com/tag/growth.html">growth</a> despite its success in user adoption of the native token ADA and its respective market capitalization increase.</p>
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    <p lang="en" dir="ltr">Cardano ecosystem is in pullback recently, do we invest more now, or do we wait ? pic.twitter.com/hSJ5X6pYMY</p>— dApps On Cardano (@dappsoncardano) November 16, 2023
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 <p class="paragraph">Interestingly, the highly competitive cryptocurrency market continues to grow, with promising projects surging as viable alternatives for Cardano. Solana (SOL) was a successful example of a newer and innovative competitor that conquered its ground, surpassing both ADA’s market cap and TVL.</p>
 <h2 class="wp-block-heading" id="h-3-cardano-competitors-to-watch-in-2024">3 Cardano competitors to watch in 2024</h2>
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       <h3 class="font-bold leading-6 " id="cardano-founder-interested-in-teaming-up-with-kraken">Cardano founder interested in teaming up with Kraken</h3>
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 <p class="paragraph">However, Finbold looked into lower ranks of capitalization indexes, picking three other Cardano competitors that could present similar growth if they are able to find optimal circumstances and a future increased demand.</p>
 <h3 class="wp-block-heading" id="h-near-protocol-near">Near Protocol (NEAR)</h3>
 <p class="paragraph">Near Protocol (NEAR) is a promising contender with an active development ecosystem focused on creating a more developing-friendly stage.</p>
 <p class="paragraph">Currently, NEAR is trading at $1.71 with $1.71 billion of market capitalization, in the 38th position on <em>CoinMarketCap</em>’s index. Its native token peaked at $20.44 on January 16, 2022, and Near’s total value locked has continuously outperformed other chains.&nbsp;</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="683" src="https://cdn.thebittimes.com/images/2023/11/17/de737636ba348e5132671aba7f303159.webp" alt class="wp-image-137874" srcset="https://cdn.thebittimes.com/images/2023/11/17/de737636ba348e5132671aba7f303159.webp 1024w, https://cdn.thebittimes.com/images/2023/11/17/de737636ba348e5132671aba7f303159.webp 300w, https://cdn.thebittimes.com/images/2023/11/17/de737636ba348e5132671aba7f303159.webp 768w, https://cdn.thebittimes.com/images/2023/11/17/de737636ba348e5132671aba7f303159.webp 1200w" sizes="(max-width: 1024px) 100vw, 1024px">
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   NEAR historical price chart. Source: Finbold
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 <h3 class="wp-block-heading" id="algorand-algo">Algorand (ALGO)</h3>
 <p class="paragraph">Another relevant competitor in the space is Algorand (ALGO), focused on delivering an energy-efficient blockchain, attracting users and developers more concerned about the environment.&nbsp;</p>
 <p class="paragraph">At the time of publication, ALGO is changing hands by $0.143 per token, with a $1.11 billion market cap, in the 52nd position on <em>CoinMarketCap</em>’s index. Algorand’s TVL is higher than Near’s, even with a lower price capitalization. Each has $63 million and $49 million of value locked in DeFi, respectively.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="484" src="https://cdn.thebittimes.com/images/2023/11/17/3122bf72addb8065caf202f8e6fbe61c.webp" alt class="wp-image-137875" srcset="https://cdn.thebittimes.com/images/2023/11/17/3122bf72addb8065caf202f8e6fbe61c.webp 1024w, https://cdn.thebittimes.com/images/2023/11/17/3122bf72addb8065caf202f8e6fbe61c.webp 300w, https://cdn.thebittimes.com/images/2023/11/17/3122bf72addb8065caf202f8e6fbe61c.webp 768w, https://cdn.thebittimes.com/images/2023/11/17/3122bf72addb8065caf202f8e6fbe61c.webp 1258w" sizes="(max-width: 1024px) 100vw, 1024px">
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   ALGO historical price chart. Source: Finbold
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 <h3 class="wp-block-heading" id="fantom-ftm">Fantom (FTM)</h3>
 <p class="paragraph">Notably, the lower cap among the 3 alternatives for Cardano is the one with the highest TVL. Fantom (FTM) is focused on delivering a high-scalable decentralized finance experience, registering $66 million of total value locked by press time.</p>
 <p class="paragraph">Its native token, FTM, is trading at $0.33, with a market cap of less than a billion dollars in the 53th position on <em>CoinMarketCap</em>’s index.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="494" src="https://cdn.thebittimes.com/images/2023/11/17/061feebb10cd8aa3e4e0c1964779a50c.webp" alt class="wp-image-137876" srcset="https://cdn.thebittimes.com/images/2023/11/17/061feebb10cd8aa3e4e0c1964779a50c.webp 1024w, https://cdn.thebittimes.com/images/2023/11/17/061feebb10cd8aa3e4e0c1964779a50c.webp 300w, https://cdn.thebittimes.com/images/2023/11/17/061feebb10cd8aa3e4e0c1964779a50c.webp 768w, https://cdn.thebittimes.com/images/2023/11/17/061feebb10cd8aa3e4e0c1964779a50c.webp 1240w" sizes="(max-width: 1024px) 100vw, 1024px">
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   FTM historical price chart. Source: Finbold
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 <h2 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h2>
 <p class="paragraph">All things considered, the above <a rel="noopener noreferrer nofollow" title="cryptocurrencies" href="https://thebittimes.com/tag/cryptocurrencies.html">cryptocurrencies</a> are in a fundamental position to possibly follow Cardano’s steps in 2024. However, taking into account that this sector can often be unpredictable and involves significant risks, there are no guarantees of <a rel="noopener noreferrer nofollow" title="massive" href="https://thebittimes.com/tag/massive.html">massive</a> <a rel="noopener noreferrer nofollow" title="growth" href="https://thebittimes.com/tag/growth.html">growth</a> for any of them.</p>
 <p class="paragraph"><strong><em>Disclaimer:</em></strong><em> The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/the-next-cardano-3-cryptocurrencies-set-for-massive-growth-in-2024-tbt70600.html">https://thebittimes.com/the-next-cardano-3-cryptocurrencies-set-for-massive-growth-in-2024-tbt70600.html</a></p>

The next Cardano? 3 cryptocurrencies set for massive growth in 2024

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