Cardano

Toncoin

Avalanche

Cardano alternatives such as Toncoin (TON), Avalanche (AVAX), Tron (TRX), and SUI could gain significant momentum during the current market recovery as ADA continues to exhibit an underperforming trend. Currently trading at $0.38, the Cardano price is 33% down YTD (Year-to-date) and 87.6% from the All-time High of $3.1. 
As the ADA price correction has yet to be confirmed as a bottom formation, sellers could drive a prolonged downfall in the near future. 
<h2 id="span-style-font-weight-400-cardano-alternatives-to-buy-as-ada-price-may-underperform-span">Cardano Alternatives to Buy As ADA Price May Underperform</h2> 
Data from <a rel="nofollow" href="https://cryptorank.io/price/cardano/analytics">CryptoRank’s</a> monthly returns chart shows that the ADA price could witness a prolonged correction over the next two months. Historical data from 2017 to 2018 indicates that September shows an average return of 12.5%, while October projects a modest return of 3.2%. Given this trend, investors may want to consider Cardano alternatives during these months as <a href="https://coingape.com/price/cardano/">ADA price</a> may regain momentum in November, displaying an average growth of 48%. 
<figure id="attachment_213967" aria-describedby="caption-attachment-213967" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-213967" src="https://coingape.com/wp-content/uploads/2024/08/image_2024-08-24_21-03-14.png" alt="Cardano Monthly Returns" width="1311" height="566" srcset="https://coingape.com/wp-content/uploads/2024/08/image_2024-08-24_21-03-14.png 1311w, https://coingape.com/wp-content/uploads/2024/08/image_2024-08-24_21-03-14-300x130.png 300w, https://coingape.com/wp-content/uploads/2024/08/image_2024-08-24_21-03-14-1224x528.png 1224w, https://coingape.com/wp-content/uploads/2024/08/image_2024-08-24_21-03-14-768x332.png 768w, https://coingape.com/wp-content/uploads/2024/08/image_2024-08-24_21-03-14-150x65.png 150w" sizes="(max-width: 1311px) 100vw, 1311px">
 <figcaption id="caption-attachment-213967" class="wp-caption-text">
 Cardano Monthly Returns | Cryptorank
 </figcaption>
</figure> 
<h2 id="span-style-font-weight-400-toncoin-ton-span">Toncoin (TON)</h2> 
Toncoin, the native cryptocurrency of the TON blockchain, showcased a notable growth of 44% in the last three weeks as its price surged from $4.7 to $5.67. The <a href="https://coingape.com/markets/toncoin-price-enjoys-a-470-peak-gain-and-a-promising-future/">Toncoin price recovery</a> can be attributed to whale accumulation and new developments in the project.&nbsp; 
According to a recent <a rel="nofollow" href="https://blog.ton.org/the-new-mission-for-ton-society">blog release</a>, the former directors of the TON Foundation launched the TON Society, a separate entity designed to advance the decentralization of The Open Network. The company aims to engage the community more effectively by managing official channels and events, thus giving the community a stronger voice in shaping the TON ecosystem. 
Moreover, the Toncoin supply distribution by addresses holding 100,000 to 1,000,000 TON coins witnessed an upward trajectory since May 2024, according to <a rel="nofollow" href="https://santiment.net/">Santiment</a> data. This indicates the whales/big players actively buy this asset and believe in the long-term growth potential. 
<figure id="attachment_213969" aria-describedby="caption-attachment-213969" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-213969 size-full" src="https://coingape.com/wp-content/uploads/2024/08/image_2024-08-24_23-36-22.png" alt="Toncoin Supply Distribution" width="1830" height="707" srcset="https://coingape.com/wp-content/uploads/2024/08/image_2024-08-24_23-36-22.png 1830w, https://coingape.com/wp-content/uploads/2024/08/image_2024-08-24_23-36-22-300x116.png 300w, https://coingape.com/wp-content/uploads/2024/08/image_2024-08-24_23-36-22-1224x473.png 1224w, https://coingape.com/wp-content/uploads/2024/08/image_2024-08-24_23-36-22-768x297.png 768w, https://coingape.com/wp-content/uploads/2024/08/image_2024-08-24_23-36-22-1536x593.png 1536w, https://coingape.com/wp-content/uploads/2024/08/image_2024-08-24_23-36-22-150x58.png 150w" sizes="(max-width: 1830px) 100vw, 1830px">
 <figcaption id="caption-attachment-213969" class="wp-caption-text">
 TON Supply Distribution | Santiment
 </figcaption>
</figure> 
<h2 id="span-style-font-weight-400-avalanche-avax-span">Avalanche (AVAX)</h2> 
Among the Cardano Alternatives, the <a href="https://coingape.com/price/avalanche/">AVAX price</a> showcased a high-momentum rally with nine consecutive green candles in the daily chart. The <a href="https://coingape.com/price-predictions/avalanche-avax-price-prediction/">Avalanche price prediction</a> markets this reversal from $20.54 to $26.68, registering a 28.80% growth in two weeks. 
The recovery is likely linked to growing institutional interest, with Grayscale Investments launching the <a href="https://coingape.com/grayscale-launches-avalanche-trust-avax-price-rallies-10/">Grayscale Avalanche Trust</a> and Franklin bringing its money market fund to the Avalanche blockchain. 
Mirroring the price recovery, the Avalanche network witnessed a significant increase in large transaction volume. Data from <a rel="nofollow" href="https://www.intotheblock.com/">IntoTheBlock</a> highlights that daily transactions greater than $100,000 jumped from 91 to 427. This growth indicates that not only retail but also smart money investors show their interest in the recent development, signaling a strong potential for a major reversal. 
<figure id="attachment_213971" aria-describedby="caption-attachment-213971" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-213971 size-full" src="https://coingape.com/wp-content/uploads/2024/08/ITB_avax_number_of_large_transactions_avalanche_c_chain_2024-08-24T18_08_06.502Z.png" alt="Cardano Alternatives- Avalanche" width="1200" height="800" srcset="https://coingape.com/wp-content/uploads/2024/08/ITB_avax_number_of_large_transactions_avalanche_c_chain_2024-08-24T18_08_06.502Z.png 1200w, https://coingape.com/wp-content/uploads/2024/08/ITB_avax_number_of_large_transactions_avalanche_c_chain_2024-08-24T18_08_06.502Z-300x200.png 300w, https://coingape.com/wp-content/uploads/2024/08/ITB_avax_number_of_large_transactions_avalanche_c_chain_2024-08-24T18_08_06.502Z-768x512.png 768w, https://coingape.com/wp-content/uploads/2024/08/ITB_avax_number_of_large_transactions_avalanche_c_chain_2024-08-24T18_08_06.502Z-150x100.png 150w, https://coingape.com/wp-content/uploads/2024/08/ITB_avax_number_of_large_transactions_avalanche_c_chain_2024-08-24T18_08_06.502Z-272x182.png 272w" sizes="(max-width: 1200px) 100vw, 1200px">
 <figcaption id="caption-attachment-213971" class="wp-caption-text">
 Number of Large Transactions | Intotheblock
 </figcaption>
</figure> 
<h2 id="span-style-font-weight-400-tron-trx-span">Tron (TRX)</h2> 
TRX, the native cryptocurrency of the TRON network, has showcased an aggressive recovery amid the August market uncertainty. From the August 5th low of $0.117, the <a href="https://coingape.com/price-predictions/tron-trx-price-prediction/">Tron price prediction</a> displayed a 41% rally to $0.165, while the market cap boosted to $13.81 Billion.&nbsp; 
This bullish momentum is largely fueled by a significant spike in Tron Network revenue, which hit an all-time high of $5.33 million last Wednesday. The surge in revenue is attributed to the <a href="https://coingape.com/meme-coin/">meme coin</a> generator SunPump, a platform similar to Solana’s PumpFun, that enables users to create and launch their own meme cryptocurrency on the Tron network. 
<iframe loading="lazy" title="DefiLlama" src="https://defillama.com/chart/chain/Tron?revenue=true&amp;theme=dark" width="100%" height="360px" frameborder="0"></iframe> 
With sustained buying, the <a href="https://coingape.com/price/tron/">TRX price</a> could surge 14% to challenge the April 2021 peak of $0.1. A potential breakout from this level will accelerate the bullish momentum and drive a prolonged rally for this asset. 
<h2 id="span-style-font-weight-400-sui-sui-span">Sui ( SUI)</h2> 
The layer 1 blockchain Sui has regained investors. On Friday, its native cryptocurrency reclaimed the $1 mark before slipping back to its current price of $0.97. Amid the recent market recovery, the <a href="https://coingape.com/price/sui-coin/">SUI price</a> has jumped from $0.8, registering 21% growth, while the market cap has climbed to $2.5. 
The stable bullish momentum could be linked to new development in the SUI network— “Shared Custody Objects.” As per the <a rel="nofollow" href="https://blog.sui.io/aftermath-shared-custody-object/">blog post</a>, this mechanism allows multiple parties to jointly control and manage an object on the Sui blockchain, enhancing collaboration and security in decentralized applications. 
In addition, derivative market data from Coinglass shows a massive jump from SUI’s future open interest from $51.74 Million to $220.42 million— a 326% growth. This upswing indicates the increasing interest of market participants in this asset, signaling strong market engagement and potential for further price action. 
<figure id="attachment_213972" aria-describedby="caption-attachment-213972" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="wp-image-213972 size-full" src="https://coingape.com/wp-content/uploads/2024/08/download.png" alt="Cardano Alternatives- SUI " width="1530" height="393" srcset="https://coingape.com/wp-content/uploads/2024/08/download.png 1530w, https://coingape.com/wp-content/uploads/2024/08/download-300x77.png 300w, https://coingape.com/wp-content/uploads/2024/08/download-1224x314.png 1224w, https://coingape.com/wp-content/uploads/2024/08/download-768x197.png 768w, https://coingape.com/wp-content/uploads/2024/08/download-150x39.png 150w" sizes="(max-width: 1530px) 100vw, 1530px">
 <figcaption id="caption-attachment-213972" class="wp-caption-text">
 SUI Futures Open Interest | Coinglass
 </figcaption>
</figure> 
Conclusion 
Bucking the wide market recovery in 2024, the ADA price remained sideways, struggling to surpass the $0.8 mark. This consolidation trend since May 2024 is gradually losing investors’ interest and could allow Cardano alternatives to gain momentum amid an anticipated market rally. 
The post <a href="https://coingape.com/markets/4-top-cardano-alternatives-to-turn-1-into-100-in-q4/">4 Top Cardano Alternatives That Can 100X In Q4</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

4 Top Cardano Alternatives That Can 100X In Q4

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