Altcoins
Amid Drastic Altcoin Drops, Analyst Says This Coin Outperformed Ethereum
Sentiment around altcoins remains cautious and despite Bitcoin Approaching all-time highs and the resurgence of meme coins, retail interest in altcoins has been muted. Data shows that crypto views on YouTube have declined significantly compared to the previous bull run, indicating less engagement in retail.
The current cycle has been strongly influenced by Bitcoin ETFs narrative, while broader market catalysts for altcoins are lacking. Specific sectors such as meme coins, AI and RWA (Real World Assets) have outperformed, but major altcoins are lagging.
Amid these looming concerns about altcoins, Altcoin Buzz analyst took to his latest video and said that TON, or The Open Network, coupled with the popular messaging app Telegram, was gaining ground in the market. TON’s daily active addresses have surpassed those of Ethereum, thanks to Telegram’s massive user base of 900 million users.
According to on-chain data from, TONNE has consistently outperformed Ethereum in terms of daily active addresses since early June. On June 3, TON’s daily unique addresses peaked at 568,830, significantly higher than Ethereum’s 351,000. Additionally, on May 17, TON’s daily transaction count reached a yearly high of 9 million, compared to Ethereum’s 1.1 million on the same day.
On the other hand, analyst Miles Deutscher finds the real world assets (RWA) sector compelling, with plans to accumulate ETH and other altcoins. He recommends a medium to long term perspective (6-12 months or more) to withstand market volatility and use periods of low volatility to accumulate strong altcoins.
Specifically, it targets Mantra and its current level around $0.85, with a maximum range of $0.75, as well as the Deepin sector, which has high potential due to innovative projects and tie-ins with digital narratives. ‘AI. Meme coins are also part of its strategy, despite declines. Key coins like Pepe and Whiff, with support at $0.11 and $2.26 respectively, are accumulation targets, with expectations of higher valuations over the cycle.
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