coinedition.com 01 October 2024 15:36, UTC

With the crypto market back in the recovery mode, an altcoin rally is imminent. Several digital assets, including Stacks (STX), Sui (SUI), Polygon (POL), MultiversX (EGLD), VeChain (VET), THORChain (RUNE), and Toncoin (TON), have shown substantial gains in the current rally.

According to CoinMarketCap, STX is up 28.77% in the past 30 days and is trading at $1.92 with a market capitalization of $2.86 billion. SUI has performed exceptionally well, with its price skyrocketing 134.18% in the past month and 20.42% in the past week. The altcoin has a market cap of $5.15 billion and is valued at $1.86 per token.

Toncoin (TON) is another top performer, up 174.87% since October 2023 and currently trading at $5.79, ranked 9th with a market cap of $14.6 billion. RUNE appears to be undervalued, having surged 167.84% since October 2023. RUNE is trading at $5.21 with a market cap of $1.75 billion.

EGLD, VET and POL Expected to Turn Bullish

After being rebranded from MATIC to POL, the cryptocurrency dropped to the 30th position in the crypto market with a valuation of $2.98 billion. The price of the altcoin stands at $0.4032, down 37.51% since September 2023. It is important to note that the migration of POL is bringing a lot of new features for the blockchain which might result in higher prices in the near future.

Read also : Altcoins Go Wild as Bitcoin Breaks $66,000

EGLD and VET have gained a modest 9.29% and 43.37%, respectively, since October 2023 and have yet to show impressive gains like their rivals. Notably, the altcoins are priced $28.11 and $0.02489, respectively and are 75.42% and 91.07% down, from their all-time highs.