Solana (SOL) and these three small coins are the stars of 2023! Will their rise continue in 2024? Yesterday, the price of Bitcoin climbed back above $44,000 on optimism about the impending approval of a spot Bitcoin ETF in January.

At this point, BTC price is expected to reach $50,000 if possible, and BTC has already recorded huge gains in 2023.

Despite growing by around 170% since January 2023, some smaller coins have also etched their names with their rise.

Solana (SOL) tops the list of these coins, followed by these three coins.

So, in 2024, what will happen to SOL, AVAX, STX and HNT that performed well in 2023? Analysts speaking to Coindesk assessed the small coins and explained their expectations:

1-Solana (SOL):

SOL has grown by more than 700% since January 2023, experiencing a sharp rise since October.

At this point, Solana is doing well amid increased on-chain activity and multiple high-profile airdrops, despite questions surrounding the collapse of exchange FTX and its relationship with founder Sam Bankman-Fried.

Brian Rudick, a senior analyst at GSR, told Coindesk about SOL: “After the collapse of FTX, there were doubts about whether Solana could survive. No one believed that SOL would survive, but SOL did not disappear. Instead, there was an increase in on-chain activity and multiple Thriving on famous airdrops." "It happened," he said.

2-Helium (HNT):

HNT has grown by more than 400% since January 2023, experiencing a dramatic 270% growth in December.

The reason behind HNT's rise is its entry into the mobile field. Christopher Martin, research director of Amberdata, evaluated HNT:

“2023 is a big year for Helium due to its foray into mobile. The network appears to have big plans for mobile and IoT. Given these plans, there are a lot of expectations for HNT’s growth in mobile networks .”

Furthermore, overall, analysts expect HNT's rise to continue, noting that traditional fund managers are also showing particular interest in HNT.

3-Stacks (STX):

STX has grown by more than 600% since January 2023, experiencing a 116% increase in December.

As a second-layer protocol for Bitcoin, Stacks is known as the first token approved by the SEC in 2019. At this point, STX’s rise is expected to continue alongside Bitcoin’s rise.

4-Avalanche (AVAX):

AVAX has grown by more than 300% since the beginning of 2023, reaching $45. Despite the support of partners behind these gains, Chris Newhouse, founder of DeFi consulting firm Infiniti Labs, evaluated AVAX.

“Avalanche’s rise this year is mainly due to AVAX-related news.

This success for AVAX isn’t just based on the news, however, as the recent surge has seen people moving in and out of different L1 and minor coins.

Thanks to its partnership with Apollo and JP Morgan, AVAX is shaping itself through corporate partnerships to become one of the most popular blockchains for corporate events. "

5-Bitcoin and Ethereum (ETH):

Finally, GSR senior analyst Brian Rudick also announced his predictions for Bitcoin and Ethereum.

He said he expects BTC and ETH to continue rising in the new year, and analysts say ETF approval will also support this rise.

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