These altcoins are the big winners of the second quarter

The second quarter of 2024 has come to an end. Historically, the second and fourth quarters are the best for crypto coins (and especially for Bitcoin), but this year was quite different. The first quarter was exceptionally good, the second exceptionally annoying.

This was mainly because Bitcoin rose sharply from January to March and then virtually stopped moving altogether, only to remain trading within a small range in the second quarters. Fortunately, there were still a few altcoins that did remarkably well in recent months.

If we look at CoinMarketCap’s top 50, these were the biggest winners (and note, we’re not talking about memecoins, which also had a very good second quarter).

Toncoin (TON)

Any investment in the digital currency of the Telegram social media platform is an indirect investment into Telegram. With its 900 million users, Telegram is trying to form an alternative to Meta (which also has its own shopping platform with WhatsApp) in the USA and Europe and WeChat, which dominates China.

$TON - Hottest altcoin this summer

A MOONSHOT in disguise my gut’s telling me - Building a long position

Let’s go 🚀 #TONCOIN pic.twitter.com/e1PTYpvnew

— X-istan (@Xistann) July 2, 2024

As Telegram influencers can now be paid in Toncoin and the platform is also developing its own smaller ‘memecoins’ (Notcoin and Hamster Kombat), we noticed how Toncoin entered CoinMarketCap’s top 10 in the second quarter.

Analysts believe that a $10 price for Toncoin is possible before the end of the year if Telegram were indeed to gor for an IPO.

Toncoin is trading close to its ATH.

Kaspa

A second winner was Kaspa, which did very good in June. The small proof of work coin is seen as a cryptocurrency that works according to the old familiar way of Bitcoin, but tries to solve the problem of lower fees and higher speeds.

$KAS 2Week

Symmetry #KAS #Kaspa #KRC20 #KaspaCurrency #ProofofWork pic.twitter.com/zkDBiCXqHQ

— Crypto ₿ULL God (@CryptoBullGod) July 2, 2024

The fact that Marathon Digital, the largest American Bitcoin mining company, decided at the end of June to also mine Kaspa from now on was a sign that this small crypto could become very important in the future.

Just like Toncoin, Kaspa is also trading close to its ATH.