The cryptocurrency market has experienced one of its most severe liquidations in history, wiping out $2.24 billion in value within 24 hours, with total estimates reaching as high as $10 billion.
Bitcoin (BTC) continues to struggle past the $100,000 mark, as risk-off sentiment grips investors amid escalating global tensions.
Yet, even as panic selling dominates certain mid-cap cryptocurrencies—those with market capitalization between $1 billion and $100 billion, are emerging as strong picks for long-term growth.
Picks for you
Among them, Solana (SOL) and Chainlink (LINK) stand out as two no-brainer picks for February, supported by on-chain activity and institutional interest.
While short-term price swings persist, these assets could offer strategic entry points for investors looking to capitalize on the market downturn.
Solana (SOL)
Currently trading at $198.15, with a market cap of $96 billion, Solana is the second-largest blockchain by DeFi total value locked (TVL), surpassing Tron (TRX) in Q4 2024.
According to the State of Solana Q4 2024 report by Messari, its DeFi TVL surged 64% QoQ to $8.6 billion, driven by major protocols like Raydium, Kamino, and Jupiter Perps, fueled by memecoin and AI token speculation.
Institutional investors are also taking note. VanEck projects SOL could reach $520 by 2025, citing Solana’s rising market share in the smart contract platform (SCP) sector, which is expected to grow from 15% to 22% by the end of 2025.
The firm highlights Solana’s developer dominance, expanding decentralized exchange (DEX) volumes, and growing base of active users as key factors supporting its long-term bullish outlook.
Furthermore, the SEC’s recent acknowledgment of Grayscale’s Solana ETF filing marks a notable shift in regulatory tone, opening the door for potential institutional inflows.
Given its remarkable growth in DeFi, surging revenue expansion, and rising institutional interest, Solana stands out as a buy, with multiple catalysts fueling its upside potential heading into 2025.
Chainlink (LINK)
Chainlink is emerging as a standout in the altcoin market, with institutional accumulation and network activity hitting multi-month highs.
Currently trading at $19.25 with a $12 billion market cap, LINK has seen its highest whale activity in 14 months, with 1,659 transactions exceeding $100,000—the most since December 6, 2023—and 9,531 unique active addresses, the highest since December 11, 2024, according to Santiment.
Beyond on-chain activity, Chainlink’s fundamental expansion in DeFi and traditional finance continues to drive its long-term outlook. The Ronin Ecosystem, a major gaming blockchain, has integrated Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to enable cross-chain asset transfers.
Furthermore, Chainlink’s influence extends into traditional finance. Notably, 21X, a fintech firm in Europe, has integrated Chainlink’s infrastructure to support tokenized securities. This move strengthens its relevance in some of the world’s most tightly regulated financial markets.
As the altcoin market prepares for a potential rebound, LINK remains one of the top assets to watch, backed by growing real-world utility and increasing investor confidence.
With strong on-chain metrics, rising adoption, and growing institutional interest, Solana and Chainlink emerge as top picks for investors eyeing significant upside in the next phase of the altcoin market’s expansion.
However, given the cryptocurrency market’s inherent volatility, traders must remain vigilant, closely tracking trends and developments to navigate risks and capitalize on opportunities.
Featured image via Shutterstock
