The Optimism (OP) community is buzzing with anticipation for one of the biggest token unlocks in February. The altcoin price has continued to rise, despite the potential sell-off that the 24 million OP tokens due to be released in the next weeks could inject.
Other notable top altcoins that have displayed signals of a bullish outbreak include Fantom (FTM) and KangaMoon (KANG). Let’s see how these altcoins do in the following weeks.
Optimism (OP) Bullish Ahead of Major Token Unlock
Optimism (OP) is one of the leading altcoins expecting the biggest token unlocks in February. On the 28th, Optimism will unlock 24 million tokens, which is worth approximately $72 million. This represents 2.5% of the OP circulating supply.
Despite the fear of a sell-off often linked with major token unlocks such as this, the Optimism crypto has managed to remain bullish. Recovering from its January low of $2.60, the OP token has increased by more than 16% over the last 14 days to rise above the $3 support level.
However, it is key that the Optimism crypto holds the support level ahead of the token unlock. If it manages to hold this support level, then the altcoin price could look to extend its gains. However, a breakdown could see Optimism return to the $2.6 level.
Analysts Bullish Ahead of Fantom (FTM) Mainnet Launch
In the fourth quarter of 2023, Fanton (FTM) performed its testnet launch for Sonic. There has been a lot of excitement around this upgrade as it promised to increase the throughput of the Fantom network by an outstanding 6,700%.
With the Sonic mainnet scheduled to go live in the spring of 2024, there are very bullish predictions for the FTM coin. This will make Fantom one of the most scalable blockchains and encourage the growth of a healthy DeFi ecosystem.
While Fantom has struggled to break out of the $0.400 range, retracing to $0.3500, there are hopes that the mainnet launch will inspire this rally. There are hopes that this rally could inspire gains of up to 100%, making FTM one of the best altcoins to buy.
KangaMoon (KANG) To Hit the Moon in 2024
Aside from Optimism and Fantom, KangaMoon (KANG) is another altcoin that has shown signs of bullish price growth in 2024. Analysts have assessed the meme coin and estimated that its value will climb by up to 100x once the project is launched.
KangaMoon is a futuristic memecoin project with the potential to exceed other memecoins such as Dogecoin and Pepe. The main goal of KangaMoon is to build a strong community of meme coin enthusiasts and reward them for their time spent on the platform.
By utilizing a unique Social-Fi model, this new memecoin allows users to earn passive revenue from their network engagement. Weekly, monthly, and quarterly challenges will be available to users, along with exclusive giveaways of $KANG and prizes.
The more active a KangaMoon user is, the better their chances of winning more KANG tokens. With an actively growing community of meme coin enthusiasts, KANG has what it takes to ride the bullish wave of 2024. However, it is now available for cheap at only $0.005 per coin.
Closing Thoughts
The crypto market is buzzing with excitement as traders look to take advantage of the potential price rallies of Optimism, Fantom, and KangaMoon. While the three altcoins will see significant gains in 2024, KANG looks to be the best of the three with its uniqueness and rapidly growing community.
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