As August approaches, crypto investors are actively seeking new promising altcoins as BTC prices become unattainable for many. Let's take a look at three relevant projects: Ripple, Solana, and DeSoc.
Ripple (XRP): A Veteran in the Market
Ripple has been working in the cryptocurrency space for many years, focusing on transactions between banks. In 2024, Ripple won an important case against the SEC, leading to a brief rise in XRP's price. However, this growth was not sustainable, and the price of Ripple still struggles to stay above $3. Competition from newer projects poses a significant challenge for Ripple.
Solana (SOL): Fast and Cheap but Flawed
Solana attracts attention due to its high transaction speeds and low fees. NFT projects and DeFi applications often choose this platform as it is more affordable than Ethereum. However, the network has faced issues, including several outages, and it has been criticized for centralization. Despite this, analysts suggest that SOL could reach $300 by 2025 if optimism in the crypto market remains.
DeSoc: A New Altcoin on the Horizon
DeSoc is a decentralized social media platform that rewards users for posting, sharing, and engaging with content, with all actions recorded on the blockchain to prevent fraud. The DeSoc token ($SOCS) is used for rewards and other functions, giving the project real utility. DeSoc has already raised over $10 million from early investors and is preparing to launch a wallet, which has caught the attention of major investors.
Choosing between Ripple, Solana, and DeSoc depends on the investor's preferences. Ripple requires patience, Solana attracts with its potential but faces trust issues due to network problems. Meanwhile, DeSoc offers a new interaction model on social media, making it a promising candidate for the next significant altcoin.
