Category Archives: Altcoin
4 Altcoins To Consider Buying For The Next Bull Run In 2024 – Forbes
A bull run is defined as a period where the majority of investors demand outweighs supply, buying, market confidence is at a peak and prices are rising. If in a given market you witness prices quickly trending to the top, this could be a sign that the majority of investors are becoming bullish which is optimistic about the price increasing further and may mean that youre looking at the starting point of a bull market. Bitcoin Halving is fueling the next bull run to happen in 2024.
Investing in the best altcoins can be a rewarding venture, it offers diversification and potentially higher returns. However, it is important to approach the altcoin landscape with caution and do a thorough research. Understanding the development team, technology, community and use case of altcoin are vital factors for making informed decisions.
Additionally, it is essential to be updated on market trends and regulatory changes for navigating the ever-evolving cryptocurrency landscape. By evaluating these key factors, investors can make informed and strategic decisions when considering altcoin investments. Let us see some altcoins to consider buying for the next bull run in 2024.
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Market cap: $367.80 billion
Ethereum is one of the biggest altcoins on the crypto market. Of the almost $837 billion that portrays the total market capitalization of the 20,000-plus crypto assets, more than 17% is held in ETH. It is a distributed computing network where users can use the blockchain to run dApps and host smart contracts.
Ethereum critics point to high fees for running transactions. However, ETH is here to stay with the thousands of apps and other altcoins powered by its blockchain.
Market cap: $4.12 billion
Cosmos (ATOM-USD) is in charge of solving some slow transactions and high-cost problems. It emerged with Tendermint (software) to create an interconnected network of blockchains. ATOM a native token of Cosmos, is a decentralized network that provides developers with open-source tools to create their own interoperable blockchains. Cosmos is working to become the internet for blockchain.
The Cosmos ecosystem permits blockchains to willingly share tokens and data across all the blockchains in the system. One of the essential roles is to secure the Cosmos Hub and regulate the network of the ATOM tokens obtained via a proof-of-stake algorithm.
A recent report by the Cosmos blog focuses on the steadiness of IBC volume and close connections that assure high diversity in tokens and, in turn, higher liquidity. The interchain ecosystem is an area where blockchains act as joined blocks that communicate via the IBC protocol, where developers can run their rare chains as different blocks with different practicality.
Market cap: $3.68 billion
Kaspa cryptocurrency was launched in the year 2021 with its implementation of the GHOSTDAG protocol, working on blockDAG for fast confirmation and high block rates. The Kaspa community projects it as a cryptocurrency that unfolds the blockchain trilemma which will stabilize security, speed and scalability. In the year 2023, this project encountered transformational developments including the switch to state-of-the-art ASIC miners.
In addition, Kaspa had planned listings on exchanges and launched ideas like the Kaspium mobile wallet and Wrapped Kaspa. It has very aspiring plans for the time ahead including sophisticated smart contract functionalities, Rusy Kaspa Testnet 11 public and exceeding ten blocks per second.
Market cap: $3.26 billion
Stellar (XL,-USD) is a decentralized, public blockchain that presents developers with tools to create experiences that are more likely cash than crypto. It can be a great altcoin to add to your investment portfolio in this bull run, it is accountable for peer-to-peer connecting the worlds financial system. The biggest aim is to make money move easily and fast.
The network is cheaper, faster and more energy-efficient than most systems based on blockchain. Lumens behave as mediators for transactions and keep a smooth running system. Its strength is its security. With XLM holders holding the keys, it makes the network more secure for transactions.
Stellar has lately launched some very amazing features such as Soroban and spread Lumens into positive projects through its Community Fund. Additionally, through the compassionate side of the project via Stellar Aid Assist, it has already helped those in need by sending over $2 million to them.
Note: The market capitalization is taken from CoinMarketCap as of Feb. 26, 2024.
Market Demand: Altcoins are initially driven by market demands. Investors are more likely to invest in altcoins that have a higher growth potential. Factors that contribute to the market demand for altcoin are consumer sentiments, market trends and investors confidence.
Regulatory Policy: The regulatory policies that can play a very important role in the development and growth of altcoins. Regulatory bodies or governments can impose restrictions on the usage of cryptocurrency, which definitely affects the demand for it.
Technology: The primary or basic technology behind an altcoin is also a factor that affects its growth and development. Altcoins that have unique features or innovative technology are more likely to gain popularity among others.
Competition: Competition is huge in the world of the cryptocurrency market and it can also affect the growth and development of altcoins. Altcoins offering similar features might struggle to gain market share.
Economic Conditions: It is another factor that can affect the altcoins growth and development. For instance, in times of economic uncertainty, investors are more likely to invest in altcoins as an economic instability or hedge against inflation.
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Support strategies by avoiding decisions made with emotions involved and create an effective investment plan that involves target prices for entry and exit. You must stay abreast of market events and news but also limit your social media consumption which many times encourages greedy behavior. Let us see altcoin investment strategies for the next bull run.
Risk management is the initial step every trader needs to think and learn while strategizing their investment plans, but it is the step that is generally overlooked until its very late. Investors need to manage risk productively by calculating how much is affordable to risk on an all-inclusive investment and then stick to it by using a stop-loss order to limit losses when the market is not in your favor.
As we are aware that the crypto market is highly unpredictable and volatile. It is highly recommended to steer clear of the temptation to bounce on the first sign of a rally with all your savings. Carefully navigate how much youre willing to invest in blue chips like Bitcoin and Ethereum and also into altcoins.
While investing in altcoins, consider industries that have high potential and divide your portfolio between them. For example, 30% to Real World Assets, 20% to AI, 10% to Layer-2s etc. Then consider rupee-cost averaging into your position in order to benefit from any dips.
One of the major errors in investing is not being aware of when to take profits. This is accurate, especially for crypto, where the market is highly volatile and driven by social media, overnight sensations, emotion and greed. As prices increase, set realistic targets for gaining profits and cling to them. A well-disciplined approach to profit targets can protect you from unexpected market downturns.
If you have no clue where you want to exit, then scaling out is the best strategy by using rupee-cost averaging to sell. For example, sell 25% altcoin at price points 1 and 2 each, etc. This will help assure you take profits while still benefiting from further upside.
Many investors look to altcoin for higher risk-reward assets while considering BTC and ETH as blue-chip cryptocurrencies. Given the high risk of altcoins, investors should consider restricting them to a mini portion of their portfolio. The reward opportunity is higher. So, investors still have the potential for fair gains without over-granting and exposing them to excessive downside.
Remember that any gains can be temporary and many altcoins are not fit for long-term buy-and-hold portfolios. The majority of altcoins usually fall out of favor between market cycles and downturns of 95%.
This means its crucial to have a logical exit strategy with your targeted price set before you enter the trade. So, if investors want to consider a portfolio with altcoins then settle it with a mixture of high-cap cryptos and altcoins to ease volatility.
Its a very bad decision to invest based on hype or fear of missing out (FOMO). Cryptocurrency is a unique asset because every transaction is recorded on a chain for public display. It means you have enough information and tools available to help you make informed decisions, instead of having to shift through the tea leaves like in many other markets.
Below are a few free tools you can use:
Use the above tools to conduct thorough research into a projects fundamentals, market position and team. You can also do this by conducting a strengths, weaknesses, opportunities and threats (SWOT) analysis. Always challenge your thesis and look for reasons why a project will crash, rather than information that confirms your existing bias.
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4 Altcoins To Consider Buying For The Next Bull Run In 2024 - Forbes
Chainlink and Bonk booming, investors set sight on new altcoin – crypto.news
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
As crypto rally, Chainlink (LINK) and Bonk (BONK) are riding the wave. Meanwhile, investors are analyzing Pullix (PLX) whose presale is in progress.
Pullix has raised over $9 million in its presale. There are over 20,000 participants who have bought more than 120M PLX. This represents 60% of the total supply.
Pullix has also been listed on CoinGecko.
PLX will also list on Uniswap on March 4. A few days later on March 7, it will list on BitMart.
Pullix addresses the inadequacies of exchanges by deploying a hybrid system.
With this, investors have the chance to hold their assets, pay less charges on transactions, and provide liquidity to the automated market makers.
Investors can also earn through the profit share model, where they earn a fixed daily percentage from Pullix revenue.
Chainlink is trending higher, adding 28% in the last month according to coin trackers.
Even so, with trading volumes dropping, some traders are wary of what lies ahead.
Some believe that it could be a litmus test for the bears to stage a resurgence.
If the bulls manage to surmount this latest challenge, LINK may break above $30.
Bonk, a meme coin on Solana, rose to reach an all-time high of $0.00003419 in December 2023.
Even though prices cooled off, BONK is now up 123% in the past month.
It is up 96% in the past week.
While volumes have fallen, analysts expect BONK to extend gains.
Disclosure: This content is provided by a third party. crypto.news does not endorse any product mentioned on this page. Users must do their own research before taking any actions related to the company.
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Chainlink and Bonk booming, investors set sight on new altcoin - crypto.news
Dogecoin (DOGE) Creator Reveals Bitcoin Price and Altcoins Correlation – TradingView
Dogecoin creatorBilly Markus, also known by his online moniker "Shibetoshi Nakamoto," recently provided insights into the relationship betweenBitcoin's price movements and the subsequent behavior of alternative cryptocurrencies, or altcoins. In response to inquiries regarding the current dominance of Bitcoin in the crypto bull market and whether it signifies an imminent surge in altcoin prices, Markus shared his perspective.
According to Markus, who played a pivotal role in the creation of Dogecoin,Bitcoin traditionally sets the pace for market trends, with altcoins following suit. He suggested that throughout his experience, Bitcoin has consistently led the way, often paving the path for significant fluctuations in the prices of alternative cryptocurrencies.
my experience is bitcoin always leads and then altcoins go nuts Shibetoshi Nakamoto (@BillyM2k) March 2,2024
The correlation between Bitcoin's performance and that of altcoins is a subject of ongoing interest and debate among cryptocurrency enthusiasts and investors. Markus' perspective, rooted in his first hand involvement in the creation ofDogecoin, offers valuable insights into how market dynamics may unfold in the coming weeks and months.
State of altcoins market
Markus' insights come at a time when Bitcoin's dominance in the cryptocurrency market remains pronounced. According to BTC.D data, Bitcoin currently commands a dominant share of 53.71% in market dominance, boasting a staggering capitalization exceeding $1.2 trillion.
Meanwhile,Ethereum ETHUSD, considered the primary altcoin, maintains a capitalization of 18.12%, leaving approximately 28.17% of the market share distributed among other digital assets.Crypto Total Market Cap Excluding BTC and ETH by TradingView
Whether Bitcoin's current dominance will pave the way for a significant altcoin rally remains to be seen, but Markus' insights offer valuable food for thought for those navigating the volatile crypto markets.
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Dogecoin (DOGE) Creator Reveals Bitcoin Price and Altcoins Correlation - TradingView
Crypto Pump Or Down In the Dumps? Altcoin Leaders Scorpion Casino, Pepe Fork & Pullix Riding High with 100x Gains – Analytics Insight
The cryptocurrency landscape continues to experience unprecedented growth, attracting new investors seeking to capitalise on the potential for significant returns. However, this dynamic environment also presents substantial challenges, with volatile price swings and short-lived trends often obscuring genuine investment opportunities.
Crypto pumps, orchestrated efforts to artificially inflate the price of an asset through coordinated buying and social media manipulation, can create temporary surges in value, attracting unsuspecting investors seeking quick profits. However, these pumps often signify a rising star pushing through the mediocre altcoins.
This article will discuss the complexities of the current altcoin frenzy by exploring three projects garnering considerable attention: Scorpion Casino (SCORP), Pepe Fork (PORK), and Pullix (PLX). We will compare their functionalities, assess their potential for long-term growth, and analyse their suitability for investors with varying risk tolerances. By critically examining each projects underlying value proposition, we aim to empower readers to make informed investment decisions in the ever-evolving crypto landscape.
Scorpion Casino, powered by the SCORP token, emerges as a promising contender within the crypto investment landscape, explicitly targeting the online gambling industry. Leveraging blockchain technologys transparency, efficiency, and security, Scorpion Casino aims to set a new standard for online gambling platforms while offering investors a stable and potentially lucrative avenue for participation.
Anticipating significant growth in the online gambling market, which is projected to reach $145 billion by 2030, Scorpion Casino has garnered considerable traction during its presale, exceeding $5.7 million in raised capital. This success underscores the projects viability and potential for high returns in the long term.
Unlike meme coins often lacking real-world applications, Scorpion Casino provides a tangible service a licensed and regulated online gambling platform. This sustainable revenue stream, independent of broader crypto market fluctuations, fuels SCORP tokenomics, including buybacks, burns, and a revenue-sharing model.
Launched in 2023 following the controversial fall of PEPE Coin, Pepe Fork (PORK) aims to rebuild trust within the meme coin community. While PORK garnered some initial interest with its impressive early swap volume, its long-term viability remains to be determined compared to Scorpion Casinos established ecosystem.
Unlike Scorpion Casino, with its robust platform and diverse earning opportunities, PORK primarily relies on meme coin hype. This lack of tangible utility and established infrastructure makes it a riskier proposition for investors seeking stability and long-term growth.
Established in 2021, Pullix offers a hybrid platform encompassing crypto trading, staking, and investment opportunities. Its native token, PLX, serves as the utility token within the ecosystem, allowing holders benefits such as discounted trading fees and passive income through staking.
While Pullix has successfully raised over $8 million in its presale, its primary focus on the volatile crypto market and the absence of a tangible revenue stream might pose a concern for some investors seeking greater stability.
The cryptocurrency landscape presents a diverse range of opportunities, each carrying its own set of risks and potential rewards. While meme coins like Pepe Fork may capture attention with their rapid price swings, they often need more tangible utility and established infrastructure of projects like Scorpion Casino.
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BTC ATH On The Cusp Of Renewal – Dataconomy
The potential of exchange-traded funds (ETFs) to drive Bitcoin (BTC) beyond its all-time high (BTC ATH) of nearly $70,000 has sparked widespread discussion and anticipation. This conversation is further fueled by optimism among BTC enthusiasts that the upcoming halving event, scheduled for April 2024, will act as an additional boost for the leading cryptocurrency in the global market.
Bitcoin recently approached its historical zenith since 2021, coming close to the record BTC ATH of $69,000 set in November 2021, before experiencing a notable pullback. Currently, its value hovers well above the $62,000 mark, showcasing robust bullish momentum largely attributed to substantial capital inflows into the global cryptocurrency sector. This surge is significantly propelled by the much-anticipated endorsement of spot exchange-traded funds (ETFs) for Bitcoin in the United States, a move that has magnetized billions in institutional investments, thus reinforcing Bitcoins upward trajectory.
Despite facing volatility, the steadfastness of Bitcoin, coupled with escalating institutional interest, has ignited a wave of optimism among investors. Following the approval by the Securities and Exchange Commission (SEC), led by Gary Gensler, in January, of 11 spot Bitcoin ETFs, 10 have commenced trading, drawing considerable capital. Research from K33 highlights that the nine spot Bitcoin ETFs recently sanctioned in the U.S. are now collectively managing upwards of 300,000 BTC, translating to over $17 billion in value. This milestone signifies a BTC ATH in terms of holdings for these funds, representing about 1.5% of the total 19.6 million BTC in circulation.
Turning our attention to the altcoin sector, Ethereum (ETH) experienced a notable increase of 1.35%, reaching a value of $3,483.84, with its market capitalization climbing to $418.59 billion. The trading volume for ETH also saw a significant uptick, surging by 37.66% to reach $16.01 billion. Concurrently, Binance Coin (BNB) witnessed a modest rise of 0.68%, with its price hitting $415.14, while its 24-hour trading volume experienced a 38.11% jump, amounting to $1.93 billion.
Contrary to the overall positive trend, Solana (SOL) bucked the upward momentum, dipping below the $130 threshold to $129.81, a minor decline of 0.20%. This downturn was accompanied by a 36.48% decrease in its trading volume, which fell to $3.28 billion over the past day. On the other hand, XRP managed to maintain its position above the $0.63 mark despite facing a slight setback. The price of XRP fell by 1.02%, settling at $0.6320, with its trading volume diminishing by 4.51% to $2.21 billion.
In the meantime, Cardano (ADA) enjoyed a gain of 0.92% to $0.7468, although it faced a 13.86% reduction in its 24-hour trading volume, which landed at $1.09 billion. As the leading cryptocurrencies exhibited fluctuations, the meme coin domain was not spared from the volatility. Dogecoin (DOGE) surged impressively by 10.92% to $0.1586, while its counterpart, Shiba Inu (SHIB), recorded a 2.26% increase in value, trading at $0.00002278, highlighting the diverse performance across the cryptocurrency spectrum.
As the time of writing, the current price of Bitcoin hovers around $62,230, according to CoinMarketCap.
Disclaimer: This content is provided for informational purposes only and is not intended as investment advice. Financial decisions, especially those related to cryptocurrency investments, should be made with caution and based on individual research and consultation with a professional advisor. The cryptocurrency market is known for its volatility, and while it offers potential rewards, it also comes with significant risks.
The crypto world continues to demonstrate remarkable dynamism, with the recent BTC ATH expectations the sector shows great potential. As Bitcoin inches closer to surpassing its all-time high, the implications for the broader market cannot be overstated. The surge in institutional investment, driven by the approval and trading of spot Bitcoin ETFs, has not only bolstered Bitcoins position but also signaled a bullish outlook for the cryptocurrency ecosystem at large.
Altcoins, too, have shown significant movement, with Ethereum and Binance Coin experiencing gains alongside a vibrant trading volume. However, the fluctuating fortunes of Solana and the steady performance of XRP illustrate the complex interplay of factors influencing altcoin valuations. As the market continues to evolve, the BTC ATH milestone beckons, potentially ushering in a new era of mainstream crypto adoption and investment.
Bitcoin halving might happen in April 2024
The diverse performances across the meme coin sector, highlighted by Dogecoin and Shiba Inus notable gains, underscore the varied investment opportunities within the crypto space. As we move forward, the anticipation around the next BTC ATH and its ripple effects across the market underscores the dynamic and ever-changing nature of cryptocurrency investments, promising exciting developments for investors and enthusiasts alike.
Featured image credit: Kanchanara/Unsplash
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BTC ATH On The Cusp Of Renewal - Dataconomy
Trending Altcoins of the Week – CoinGape
In the recent week, different altcoins have shown impressive performances while Bitcoin reached a new all-time high of $64,000. These tokens, from meme-based to cutting-edge blockchain initiatives, have attracted substantial focus and investor enthusiasm. Lets examine the top trending altcoins, according to CoinMarketCap and their important accomplishments in this timeframe.
Pepe, a meme-inspired token, has surged dramatically over the past week, showcasing an increase of 234.69% in value. With PEPE coin price standing at $0.000004092, Pepe has captured the fascination of traders worldwide. Its market capitalization has soared to $1.721 billion, with a 24-hour trading volume of $2.19 billion. This surge reflects a significant uptrend in its market performance, making Pepe a notable contender in the altcoin landscape.
Digiverse, another prominent player in the altcoin market, has seen a remarkable surge, boasting a 43.65% increase in the last 24 hours. Priced at $0.9756, Digiverse has demonstrated a 58.64% change over the past week. Despite a relatively modest 2.08% change over the past 30 days, its recent momentum indicates growing investor interest. With its market capitalization at $2.4 million and a 24-hour trading volume of $6.28 m illion, Digiverse presents an intriguing opportunity for traders seeking potential growth.
Dogwifhat, commonly known as WIF, has experienced a surge in value, with a 454.60% increase over the past 30 days. Its recent 22.80% uptick further solidifies its position as one of the top gainers of the week. Priced at $1.26, WIF boasts a market capitalization of $1.26 billion and a 24-hour trading volume of $374.4 million. With its unique branding and strong market performance, WIF continues to attract investor attention as it rides the waves of success.
Solsponge has skyrocketed in value, boasting a 284.84% change over both the past week and 30 days. Its recent surge of 126.92% further highlights its explosive growth potential. Priced at $0.001045, Solsponges market capitalization stands at $721,069, with a notable 24-hour trading volume of $2.18 million. As a relatively newer player in the market, Solsponges rapid ascent demonstrates the dynamic nature of the crypto space, enticing traders with its promising course.
Fetch.ai, despite a more modest 24-hour change compared to other top gainers, has exhibited consistent growth over the past month, with a notable 194.92% increase. Priced at $1.68, Fetch.ais market capitalization reaches $1.39 billion, with a 24-hour trading volume of $443.06 million. Its innovative approach to AI and blockchain integration positions it as a promising project with significant upside potential, attracting investors seeking long-term value in the crypto market.
These trending coins showcase the variety of opportunities available in the altcoin market. It is crucial for investors to stay updated on market trends and conduct thorough research to make well-informed investment choices as they navigate the dynamic crypto space. Dont miss out on these projects making an impact in the crypto realm!
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Trending Altcoins of the Week - CoinGape
20% Altcoin Surge Tied to Asset Manager’s Privacy ETF Bid – BeInCrypto
Grayscale, a crypto asset management giant, has submitted a proposal to the US Securities and Exchange Commission (SEC) for an innovative privacy-focused exchange-traded fund (ETF).
Meanwhile, governments worldwide are tightly scrutinizing privacy tokens.
Grayscale designed the privacy ETF to echo the performance of five key privacy and security sectors. These sectors range from data protection and privacy services to cybersecurity. They also encompass innovations in blockchain, artificial intelligence, and edge computing, as outlined in the SEC filing.
Furthermore, the ETF keeps tabs on digital currencies, prioritizing user privacy through encryption. Significantly, this includes the Grayscale Zcash Trust (ZCSH).
The Index intends to allocate 10% to the Privacy-Preserving Protocol sub-theme, which seeks to capture investment exposure to privacy and security-focused digital assets via ZCSH, a publicly quoted and SEC reporting vehicle that is solely and passively invested in Zcash, Grayscale explained.
Zcash is distinguished by its focus on privacy and anonymity, enabling transactions without exposing crucial details such as the identities of the sender and recipient or the transaction volume. The Grayscale Zcash Trust, which passively backs Zcash, seeks to simplify investor access to Zcash. This bypasses the hurdles associated with direct cryptocurrency transactions.
This initiative has catalyzed a notable rise in Zcash (ZEC), with a 20% uptick in the past day.
Read more: Zcash (ZEC) Price Prediction 2023/2025/2030
To qualify for the ETF, companies must meet rigorous standards, including being publicly traded in the US with a minimum market cap of $250 million and meeting liquidity requirements. This ensures the inclusion of robust and credible firms, enhancing the ETFs attractiveness to investors.
Grayscales move is noteworthy for its focus on privacy and its influence in crypto management. Boasting approximately $27 billion in assets under management, Grayscale has been pivotal in promoting Bitcoin ETFs.
Read more: Anonymity vs. Pseudonymity: Understanding the Key Differences
If the SEC approves the privacy ETF, it would be the USs first and would expand investment opportunities in the privacy and security domain.
However, the enthusiasm for privacy coins like Zcash faces challenges such as global regulatory hurdles. Nations such as Dubai, Japan, South Korea, and Australia have banned privacy coins. They argue that the anonymity provided by these coins could facilitate illegal activities. Hence, there is an ongoing struggle to balance privacy rights with regulatory oversight in the crypto arena.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that ourTerms and Conditions,Privacy Policy, andDisclaimershave been updated.
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20% Altcoin Surge Tied to Asset Manager's Privacy ETF Bid - BeInCrypto
Is Altcoin Season Upon Us? Here’s What Bitcoin’s Performance Shows – TradingView
There is reason to believe that the altcoin season is imminent based on Bitcoins recent price action. Altcoin season is known to be a period when other crypto tokens begin to outperform the flagship crypto token.
Bitcoin To Cool Off For Altcoin Season
Crypto analyst Rekt Capital stated in an X (formerly Twitter) post that Bitcoin has only one last Pre-Halving retrace before it goes on a parabolic move post-halving. Crypto analyst Sjuul also highlighted in an X post how the funding rate is mildly high for Bitcoin at the moment, something which hints that a correction was on the horizon.
With Bitcoin likely to face a significant correction, this presents the perfect opportunity for altcoins to make a run of their own. Ethereum, the second-largest crypto token by market cap, looks set to lead the pack, hitting $3,000 for the first time in nearly two years. Meanwhile, some analysts have noted indicators that confirm that the Altcoin season is not far off.
Crypto analyst Crypto Prof noted that the Gaussian channel on the Altcoins chart has turned green after almost 4 years. Also, these altcoins are said to have broken through the previous resistance from the last weekly close. Crypto Prof further stated that the same thing happened in 2016 and 2020, the period in which the Altcoin bull run started.
Stockmonkey Lizards, another crypto analyst, also mentioned on his X platform that the altcoin is close. In the accompanying chart on his post, he highlighted how the altcoin market cap was going to run to $10 trillion from its current market cap of almost $900 billion.
Investors Increasing Their Risk Appetite
On-chain intelligence platform Glassnode noted in a recent report that their Altseason Momentum indicator has shown a growing appetite from investors to move capital further out on the risk curve. This suggests that crypto investors are more willing to deploy a significant amount of their capital to altcoins in anticipation of greater returns.
Interestingly, this altcoin indicator is said to have signalled positive momentum since October 2023 before briefly cooling off during the sell-the-news event that occurred after the Spot Bitcoin ETFs approval. However, the indicator is once again signalling this positive momentum having been retriggered on February 4.
Glassnode further revealed that, while Bitcoin dominance remains significant, there are signs that capital is being rotated into other ecosystems like Ethereum, Solana, Polkadot, and Cosmos.
Data from Blockchain Center also shows that the market is gearing closer to an altcoin season. The altcoin season index currently stands at 61%, with a rise to 75% still needed before it can be said that the altcoin season is in full swing.
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Is Altcoin Season Upon Us? Here's What Bitcoin's Performance Shows - TradingView
Bitcoin might correct after hitting $50k; AI altcoin attracts investors – crypto.news
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
The recent surge of Bitcoin (BTC) to $50,000 has caused excitement and, at the same time, caution among investors and fans. However, with this achievement, a fear of a prompt correction from the market arises. At the same time, a promising AI altcoin, Borroe Finance (ROE), is attracting investors and emerging as a substitute for Bitcoins monopoly.
Analysts have been pondering the chance of Bitcoin facing a correction after hitting $50,000, an achievement not recorded since December 2021.
They give several reasons for the surge of Bitcoin to $52,000. First, expectations of interest rate cuts derived from analysts and financial market speculations suggest possible rate reductions commencing May this year.
Further, the decision by the U.S. Securities and Exchange Commission (SEC) to approve the first U.S. spot Bitcoin exchange-traded funds (ETFs) in January has also resulted in increased inflows of capital.
Instead, the forward-looking regarding the fourth Bitcoin halving is expected to trigger additional Bitcoin price growth.
However, analysts warn of a retracement in the cards for Bitcoin after a bold move past $50,000. Several indicators favored such a reserved perspective. For example, the price retracted by more than 2% after the United States Consumer Price Index (CPI) report showed recent market movements indicating higher-than-expected inflation.
Glassnode data insights provide long-term Bitcoin holder behavior. These holders have sold more than 300,000 BTC since November 2023, implying that they tend to capitalize on gains, perhaps as a profit-taking action.
A study of short-term holder conducts also emphasizes a critical reset. In the rally about approving spot Bitcoin exchange-traded funds (ETFs), short-term holders saw their profit supply hit 100%. Nevertheless, following the return of Bitcoin to $38,000, this number dropped to 57.5%, which implies a reallocation of positions.
Deep analysis of the on-chain data by CryptoRank has revealed bearish signs within the broad bullish sentiment. These signals indicate the probability of a substantial correction in the near term, which should make market participants cautious.
Borroe Financeis emerging as a pioneer in web3 financing. Using the power of artificial intelligence (AI) and blockchain technology, Borroe Finance has created a native web3 fundraising marketplace to support startups and small businesses faster.
The platform not only eases the required funding for scaling purposes but also enables businesses to thrive within the Web3 ecosystem.
Per the Borroe Finance whitepaper, the team foresees a matrix in which web3 businesses can tap even future recurring revenue to get cash upfront.
In contrast to hype-driven coin offerings that dominate the market, Borroe Finance is centered on its AI-driven web3 blockchain invoice discounting NFT marketplace. This model speeds up the web3 evolution, enabling a rise in finances from the active community.
Web3 businesses can obtain upfront funds based on continuous future money flows, for example, subscriptions and royalties, through their marketplace.
Moreover, the platform creates a well-functioning financial ecosystem where enterprises can obtain capital swiftly and at a low cost while ensuring that investors receive better returns than they would have on conventional investment paths.
The ongoing presale of ROE is at the fourth stage, with each token selling for $0.019. Importantly, the presale funding has already surpassed $2.9 million.
Led by web3 and fintech industry professionals Maxim Prishchepo and Michael Price, Borroe Finance is known for its commitment and excellent leadership in achieving its objectives.
Borroe Finance aims to solve fundraising issues associated with traditional financings, such as lengthy waiting times, cumbersome approval processes, and others that make accessing funds almost impossible for web3 projects.
The platforms smart contracts have been fully audited by BlockAudit, with its address open to the general public, fostering transparency.
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Former BitMEX CEO Names Eight Hot Altcoins To Watch Out For – The Crypto Basic
The former CEO of crypto derivatives exchange BitMEX has outlined the altcoins he will be turning his attention to ahead of the coming bull run.
Former BitMEX CEO Arthur Hayes is considered an influential figure in the cryptocurrency scene, given his adventures in the industrys early years and his wealth accumulation from accurate calls on key projects.
Going into another potential bull market, Hayes has outlined the altcoins he will be adding to his portfolio to achieve maximum returns.
In his latest blog post, the BitMEX founder set a backdrop for his altcoin picks by highlighting how crypto projects form strong narratives. According to Hayes, the most successful projects combine an appealing story and strong tech.
However, he argues that the tech does not matter as much as the story. He next revealed seven key stories and the altcoins he will be banking on to succeed if the narratives take off in the upcoming bull run.
According to Arthur Hayes, one story that will most likely be driven in the next few months is that retail derivatives trading volume would shift from centralized exchanges to decentralized ones.
While he does not necessarily believe this, Arthur Hayes believes the story will be strong enough that it gains traction. Therefore, he is investing in leading derivative DEXes, dYdX, GMX, and any other project that challenges the incumbents.
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Still on retail volume moving to DEXes, the former BitMEX CEO picked Krav as an altcoin that will grow significantly as the platform will make it possible for users to enjoy quanto derivatives trading volume powered by low-cap cryptocurrencies (or so-called shitcoins).
Another coin that comes into the DEX conversation is Elixir, which Arthur Hayes speculates will disrupt the market. The project could potentially take on the role of market makers on decentralized exchanges by being the primary source of on-chain liquidity.
The last altcoin play named by Arthus Hayes for the DEX sector is Flare, a project that provides on-chain oracles. Hayes notes that as DEXs become the primary venue for price discovery, on-chain oracles will become more important for their role in liquidation and settlements.
The last three projects on the BitMEX founders list are Pendle, Ethena, and Axelar. Hayes tips Pendle to capture interest by powering interest rate swap trading on-chain, while Ethena will dominate the stablecoin narrative by delivering a stablecoin that does not rely on traditional finance (TradFi).
Lastly, Axelar will make cross-chain bridging seamless by letting users move assets across networks in a manner different from the current bridges in the crypto space.
It is noteworthy that while the former BitMEX CEO is picking potential winners in the altcoin market, he has recently been dunking on other more popular altcoins such as Cardano (ADA).
In a recent exchange, Hayes described Cardano as lacking utility, and outlined that none of the leading decentralized applications (dApps) in the crypto space were originally built on the network.
Meanwhile, Hayes remains bullish on Bitcoin and Ether hitting higher prices off the back of ETF launches. However, he looks to shift his focus to altcoins, and will provide further insights into his favorite plays as the cryptocurrency bull run takes shape.
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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basics opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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Former BitMEX CEO Names Eight Hot Altcoins To Watch Out For - The Crypto Basic