The cryptocurrency market has been anticipating a possible altcoin season, but recent volatility has weighed down momentum.
Notably, Bitcoin (BTC) continues to dominate the market at 60.4%, with altcoins witnessing minimal capital inflows.
A section of the market had expected Ethereum (ETH) to lead the altcoin rally, but the second-largest cryptocurrency by market capitalization has significantly underperformed in recent weeks.
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Therefore, Ethereum’s underperformance has been considered a possible factor stifling the altcoin season.
Nevertheless, despite minimal capital shift into altcoins, several assets in this category hold the potential for significant returns, possibly elevating average investors into millionaires by 2030.
Solana (SOL)
Solana (SOL) ranks among notable altcoins that have seen steady price growth over the past year. Its potential to surge further is high as it seeks to challenge established projects such as Ethereum.
Despite Solana’s previous challenges, including sustained network outages, the platform has notably recovered, gaining popularity as a top choice for launching meme coins, helping drive SOL’s recent momentum.
At the same time, Solana’s unique proof-of-history (PoH) innovation allows it to process transactions 46 times faster than Ethereum, attracting major players like Visa. This institutional interest positions Solana as a key player in the financial ecosystem, likely contributing to its long-term growth.
Additionally, regarding institutional capital, Solana could be primed for more investment, given the growing speculation about a related spot exchange-traded fund (ETF) potentially being approved by regulators. Indeed, there is a high possibility that a Solana ETF could be in the pipeline, especially considering the current U.S. administration’s pro-cryptocurrency stance.
Furthermore, Solana’s possible growth could emerge from its increasing popularity in the crypto sector. Data shared by prominent on-chain analyst Ali Martinez in an X post on February 8 indicated that Solana is witnessing five million new addresses created daily. Initially, the analyst had projected that SOL could hit $4,700.
Regarding price movement, SOL has been caught up in the recent cryptocurrency market downturn, at some point losing the $200 support zone. By press time, SOL was trading at $200.16, having rallied about 1.5% in the last 24 hours. On the weekly timeframe, the asset is down over 1%.
XRP
XRP is among the digital assets anticipated to lead the cryptocurrency market in the coming years. Notably, after a prolonged consolidation below $1, the token finally broke out, triggered by anticipation of favorable regulations under the Donald Trump administration.
One of the lingering catalysts likely to drive XRP’s rally is the ongoing Securities and Exchange Commission (SEC) case. XRP’s suppressed price was primarily attributed to this prolonged legal battle. Still, with the new administration in office, there are expectations that regulators might dismiss the case or push for a favorable settlement for Ripple.
Although XRP has felt the impact of recent market bearishness, new catalysts beyond regulatory developments could drive its price higher. One major potential breakthrough is the approval of XRP-based ETFs.
With asset managers like Grayscale Trust and Purpose Investments already filing applications—and a pro-crypto U.S. administration—approval could come within the next year.
ETFs would make XRP more accessible to traditional investors, boosting demand, trading volume, and price momentum. More importantly, they could accelerate RippleNet’s adoption in mainstream finance.
Additionally, whale investors seem to have massive confidence in XRP. Despite the recent dip, this class of investors accumulated 540 million XRP tokens, highlighting their long-term belief in the asset’s potential.
By press time, XRP was trading at $2.41, posting modest gains of less than 0.1% in the last 24 hours. On the weekly chart, the token is down over 6%.
While there’s no guarantee of becoming a millionaire in the volatile crypto market, Solana and XRP show strong growth potential. With XRP still cheaply available and Solana gaining traction, strategic investors could see significant gains if market conditions remain favorable.
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