Altcoins
Analyst Van de Poppe Predicts Notcoin to Surge 2-5x Against Bitcoin
Market veteran Michaël van de Poppe predicts a 2-5x upside for altcoins like Notcoin (NOT) relative to Bitcoin (BTC), as its market growth continues to attract investor interest.
Michael van de Poppe, a veteran market analyst, recently highlighted the potential growth of altcoins, with a particular focus on Notcoin (NOT). According to van de Poppe, altcoins, including NOT, are expected to perform very well, potentially achieving a 2-5x increase over Bitcoin over the next four months.
This optimistic outlook comes as Notcoin shows significant market activity and volatility. Van de Poppe’s comments highlight the growing interest in altcoins, suggesting a promising trend for investors in the market.
#Altcoins are going to do well, and I think $NOT much reported.
I suggest that many of them could do a 2-5x against Bitcoin over the next four months.
Which ones do you have in your portfolio?
– Michaël van de Poppe (@CryptoMichNL) June 4, 2024
Notably, by According to another analyst, Rekt Capital, Altcoin market capitalization is expected to reach its highest weekly close since early April 2024. This development is perfectly in line with the ultimate game plan for Altcoin market capitalization described by the observer of the market a few months ago.
Notcoin Market Performance
Currently, Notcoin is trading at $0.023676, with a 24-hour trading volume of $2,207,341,547. The cryptocurrency saw an increase of 3.22% in the last 24 hours. Currently ranked 49th on CoinMarketCap’s list of largest assets, Notcoin has a market capitalization of $2.4 billion.
A comparative performance chart highlights the distinct behaviors of Notcoin (NOT) and Bitcoin (BTC) from May 17 to June 4. The data shows that while BTC has remained relatively stable around the 0.00% mark with minimal fluctuations, it has NOT exhibited considerable volatility.
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Initially, NOT fluctuated around 0.00%, saw a notable decline below -5.00% and began a significant rise around May 30, peaking above 15.00% on June 1.
Although it declined thereafter, it remained above the 5.00% mark on June 4. On the other hand, Bitcoin has maintained a stable performance close to the 0.00% mark with very minimal fluctuations, indicating lower volatility than Notcoin.
Impressive trading volume and market activity
Recent data shared by IT Tech, a verified author on CryptoQuant, shows that Notcoin’s trading volume was second only to Bitcoin. At the time of disclosure, Notcoin recorded a 24-hour trading volume of $16.33 billion, surpassing Ethereum’s $11.71 billion.
🚀 The trading volume for $NOT is huge, reaching $16.33 billion! Only Bitcoin had greater volume.
This is a significant increase compared to other assets. 🤯 pic.twitter.com/ldAF6gdGQF
– IT Technology (@IT_Tech_PL) June 3, 2024
On the other hand, Notcoin’s open stake stands at $227.47 million, which is considerably lower than Bitcoin’s $11.89 billion and Ethereum’s $8.88 billion. Open interest represents the total number of derivative contracts outstanding, indicating a smaller derivative market or less leveraged trading for Notcoin.
Additionally, Notcoin boasts a high 24-hour funding APR of 31.101%, suggesting strong incentives for traders to maintain their positions in its perpetual futures contracts. This contrasts with the lower funding APRs of BTC and ETH of 12.481% and 14.835%, respectively, reflecting more balanced funding conditions.
Last month, The Crypto Basic reported a 600% increase in the price of Notcoin after its launch on May 16. This rise is due to increased market liquidity and investor participation, triggered by its listings on Binance and OKX.
Within 24 hours of its listing, Notcoin climbed into the top 10 cryptocurrencies in terms of daily trading volume, attracting over $1.2 billion.
Disclaimer: This content is informational and should not be considered financial advice. The opinions expressed in this article may include the personal opinions of the author and do not reflect the opinions of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. Crypto Basic is not responsible for any financial losses.
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