A digital asset’s community plays a big role in establishing it as a blue chip token. Here are five altcoins with strong communities that actively participate in project initiatives: XRP, Cardano (ADA), Solana (SOL), Terra Classic (LUNC), and VeChain (VET).
XRP, one of the oldest altcoins, has a large and dedicated community that guides the project’s development. Despite underperforming in the current cycle, XRP reached a market cap of $30.6 billion, ranking 7th in valuation.
XRP is up 3.77% since October 2023, and its parent firm Ripple continues to work with regulatory authorities globally, solidifying its presence in the crypto space. With strong community support, XRP could gain from regulatory approvals and Ripple’s partnerships with banking institutions.
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Cardano (ADA) also has a strong community and plans to launch a new roadmap with new features, including Leios, an upgrade that will significantly boost the network’s scalability.
ADA is up 4.53% in the past 24 hours, trading at $0.3649. It dropped 6.37% in the past week but jumped 13.32% in the last 30 days. However, ADA is up only 38.53% since October 2023, trailing altcoins like Solana (SOL), another project with a large community.
Solana has a TPS of 40,000, much higher than Cardano’s 1.3 TPS. SOL dominates the altcoin sector with a market cap of $70.36 billion, ranking 5th. The cryptocurrency is up 5% in the past 24 hours, trading at $149.59.
Since October 2023, fueled by the meme coin industry’s support with the launch of pump.fun, SOL soared 527.54%. The altcoin went from over $23 to a high of $202 in March of this year.
VET and LUNC Show Potential
VET and LUNC both show significant potential, with strong support from the crypto community. LUNC, formerly LUNA, continues to function despite the collapse of Terraform Labs, thanks to developers and a strong community supporting the blockchain.
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LUNC is up 53.09% since October 2023 and 21.52% in the past month. It fell 6.46% in the last seven days, and rose 2% in the past 24 hours to $0.00009045.
VET jumped 6.34% to $0.02404 at the time of writing. It is up 43.55% since October 2023 and 18.68% in the past 30 days. The project’s community anticipates the launch of VePassport and other new initiatives.
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