Altcoins
NEAR, AVAX, Arweave [AR]MétisDAO [METIS]: These are the altcoins to watch
- CryptoBullet predicts that NEAR, AR, METIS, and AVAX will reach new all-time highs by 2024, driven by current market trends.
- Technical analysis supports a positive outlook, with increasing altcoin trading volume indicating growing investor interest.
As the cryptocurrency market continues its upward trend, led by Bitcoin [BTC] Thanks to robust performance in recent weeks, the global crypto market cap has reached around $2.5 trillion.
As a result, altcoins such as Close protocol [NEAR] And Peas [DOT] showed a strong upward trend. This bullish wave has sparked optimism among investors and analysts.
Amid this positive momentum, CryptoBullet, a well-known crypto analyst, has foreseen that four altcoins are expected to reach new all-time highs (ATH) by 2024.
According to CryptoBullet, this period represents a great opportunity for investors to engage in specific altcoins that are currently undervalued but poised for significant growth.
CryptoBullet’s strategy is to take advantage of the current low prices of these altcoins to capitalize on potential explosive gains in the next bull market.
The key to identifying these promising investments lies in their performance relative to Fibonacci retracement levels.
CryptoBullet identifies altcoins that have tested or surpassed the 0.618 or even 0.786 Fibonacci levels as prime candidates to break their ATHs.
On the other hand, the analyst disclosed altcoins that would likely not fare well, noting:
“Those still between 0.382 and 0.236 are unlikely to surpass their 2021 highs (weak plays). Examples: $DOT $AXS $FIL $ADA.
At the time of writing, DOT was the top gainer among these altcoins, followed by ADA in second place.
Notably, DOT and ADA saw an increase of 3.9% and 5%, respectively, over the past day, compared to FIL and AXS, an increase of 0.8% and 0.4% over the past day. of the same period.
NEAR, AR, METIS and AVAX expected to increase
CryptoBullet specifically highlighted NEAR, Arweave [AR], MétisDAO [METIS]And avalanche [AVAX] like altcoins with the potential to set new records.
Over the past few weeks, these altcoins have shown bullish trends, with METIS experiencing a slight decline.
However, despite falling 0.9% over the past week, METIS has rebounded, currently up 2.9% over the past 24 hours with a stock price of $60.59.
This minor slowdown is considered a temporary adjustment before a potential uptrend.
In contrast, NEAR and AR demonstrated more significant bullish momentum. NEAR jumped 13.4% last week and 36.4% over the past two weeks.
Similarly, AR increased by 10.5% last week and over 40% in the last fortnight.
Over the past 24 hours, NEAR and AR have increased by 3.6% and 10.1%, with a current price of $8.38 and $48.54 respectively, indicating a sustained uptrend.
Avalanche (AVAX) has also shown positive trends, with a current price of $37.09, up 7% over the past day.
Meanwhile, the dominance of altcoins, excluding the top 10, stood at 11.91% at the time of writing. Technical analysis of the overall altcoin market shows quite an interesting trend.
Realistic or not, here it is Market capitalization of AVAX in terms of BTC
The market has recently shown a bullish dragonfly candle followed by a bullish engulfing candle, which closes above the dragonfly candle. This trend suggests that further upward movements were likely.
Additionally, AMBCrypto reports that altcoin trading volume dominance has reached 78%, the highest in two years, reporting that growing investor interest in altcoins.
Altcoins
Altcoins with huge potential Bonk and Mpeppe (MPEPE)
The cryptocurrency market is full of potential, and two altcoins that have recently caught the attention of investors are Bonk (BONK) and Mpeppe (MPEPE)Both of these tokens offer unique features and promising growth prospects that set them apart in the crowded altcoin space. In this article, we will explore what makes Bonk (BONK) and Mpeppe (MPEPE) attractive investment opportunities and how they could shape the future of the cryptocurrency market.
Bonk (BONK): The viral sensation
Bonk (BONK) burst onto the scene with a playful and viral take on cryptocurrency. Here’s a closer look at what’s made Bonk (BONK) a sure bet in the altcoin space.
The Viral Marketing Strategy
Bonk (BONK) Bonk has harnessed the power of internet memes and viral marketing to quickly gain popularity. Its branding, which features a humorous and engaging mascot, has resonated with the crypto community and beyond. By harnessing the viral nature of meme culture, Bonk (BONK) has quickly established a strong presence and captured the imagination of a wide audience.
Merging meme culture and blockchain innovation
Mpeppe (MPEPE) is emerging as a new and exciting player in the altcoin market. With its unique blend of features and innovative approach, Mpeppe (MPEPE) is attracting the attention of investors and cryptocurrency enthusiasts.
Mpeppe (MPEPE) combines the fun and relatable aspects of meme culture with advanced blockchain technology. Inspired by football and blockchain innovation, Mpeppe (MPEPE) offers a distinctive brand identity that appeals to a wide audience. This fusion of entertainment and technology sets Mpeppe (MPEPE) apart from other altcoins and offers an attractive investment opportunity.
Community impact
The strength of each cryptocurrency’s community will play a vital role in its future trajectory. Bonk (BONK) and Mpeppe (MPEPE) Cryptocurrencies build strong, engaged communities, but how they foster and grow those communities will determine their long-term success. Active, supportive communities can generate lasting interest and value, making them essential to the future of every cryptocurrency.
Conclusion: Invest in Bonk and Mpeppe
Bonk (BONK) and Mpeppe (MPEPE) represent exciting opportunities in the altcoin market. While Bonk (BONK) has established itself through its viral marketing and strong community support, Mpeppe (MPEPE) offers a unique blend of meme culture and advanced blockchain features. Both coins have the potential to make a significant impact in the cryptocurrency space.
For investors looking to explore high-potential altcoins, keeping an eye on Bonk (BONK) and Mpeppe (MPEPE) offers interesting opportunities. As the market evolves, these tokens could play a significant role in the future of cryptocurrencies, making them attractive options for those looking for growth and innovation in the altcoin space.
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Altcoins
Top 6 Altcoins Expected to EXPLODE Before 2025: Buy Now!
As we approach 2025, the cryptocurrency market is poised for a major shift. According to Austin, an analyst at Altcoin Daily, potential policy changes could trigger a major surge in altcoins. A potential change in the Federal Reserve’s policy rate in September could lead to substantial growth in the cryptocurrency market, benefiting Ethereum, Solana, and several promising new altcoins.
Here’s a look at some altcoins priced between $1 and $2 that could offer good returns during the current market downturn. Dive right in.
Top 6 Altcoins to Watch
Aethir: The Decentralized GPU Marketplace
Aethir is becoming a key player in decentralized cloud infrastructure for gaming and AI. With over $36 million in annual revenue, Aethir is meeting the growing demand for GPU computing from large tech companies like Google and Microsoft. By utilizing underutilized GPUs, Aethir is making a significant impact in the tech world. Current Price: $0.07176.
Ondo: The Best Bet in the RWA Sector
Ondo is transforming the way financial assets are tokenized with its real asset protocols. The ONDO token, used for Ondo DAO and Flux Finance, offers a 5.3% annual dividend in USDY. Despite a recent 35% price drop, ONDO’s price action suggests a potential breakout. With less selling pressure and an increase in off-exchange holdings, the outlook appears positive. Current price: $0.9251.
Lukso: Blockchain for Creators and Social Networks
Lukso is creating a unique blockchain focused on connecting creators, brands, and users. As an alternative to Ethereum, Lukso offers universal profiles and gasless transactions, making blockchain technology more accessible. With a strong vision and strong leadership, Lukso is poised for wider adoption. Current Price: $1.71.
AIT Protocol: Decentralized AI Data Annotation
The AIT protocol addresses the need for decentralization of work in AI data annotation. It connects human trainers with AI model owners through a decentralized marketplace, thereby improving AI models. Its growing adoption in Asia and strategic investments suggest that it could be a major disruptor in the AI space. Current price: $0.1169.
Foxy (Linea): A meme piece with level 2 potential
Foxy, a cryptocurrency associated with Linea’s Ethereum layer 2 scaling, has received support from ConsenSys. It stands out in Ethereum layer 2 due to its MetaMask integration and fast transactions. With Linea’s growing adoption and low transaction costs, Foxy is well-positioned for growth. Current price: $0.01116.
Off-grid: Emerging Altcoin in Video Gaming
Finally, Off The Grid, developed by Godzilla, is generating excitement in the crypto gaming sector. Although it has not yet launched, it has received positive feedback from industry experts, suggesting strong potential. Other infrastructure projects like Immutable and games such as Xers and Star Heroes are also worth considering for those interested in crypto gaming.
Who’s excited about the potential altcoin rally?
Altcoins
Bitcoin Dominance Hits 3-Year High: Is Altcoin Season Coming?
As Bitcoin dominance hits a three-year high of 56%, analysts are predicting the potential start of an altcoin season. Although Bitcoin’s current valuation has fallen below $63,600, the high dominance level suggests a significant shift in the market.
Experts point out that Bitcoin dominance is a key factor in predicting altcoin trends. If Bitcoin holds its price while its dominance declines, it could signal a flow of investment into altcoins. This triggers what many call an “altcoin season.”
Conversely, if Bitcoin price and dominance fall simultaneously, it usually indicates a broader market correction rather than an altcoin boom.
What Factors Suggest an Imminent Altcoin Season?
Markus Thielen of 10X Research noted that Bitcoin Price Tends to Stabilize in August. Therefore, a stable Bitcoin price, coupled with declining dominance, may create the ideal conditions for altcoins to thrive.
Learn more: Bitcoin Dominance Chart: What Is It and Why Does It Matter?
Bitcoin Domination. Source: TradingView
In addition, Ki Young Ju, founder of the chain analysis CryptoQuant platform has highlighted increasing activities by crypto whales that appear to be preparing for an altcoin rally.
“Limit buy order volume for altcoins, excluding Bitcoin and Ethereum, is increasing, indicating that strong buy walls are being put in place” said.
Ju explained that limit orders, which are preferred by institutions for large trades to minimize price impact, create “quote volume.” His analysis, which includes a graph of the 1-year normalized cumulative buy/sell volume difference, indicates that altcoins like Solana (SOL)Cosmos (ATOM) and Polygon (MATIC) experience significant accumulation activities.
“The indicator is calculated by taking the cumulative sum of the difference between the buy and sell quote volumes, using a one-year rolling window. If there is an upward trend, it means the buy volume of the quotes is increasing, indicating stronger buy walls,” Ju explained.
Normalized cumulative difference over 1 year between purchase and sale volumes. Source: CryptoQuant
This bullish sentiment is reflected in the trends following recent developments in crypto financial products. Crypto Vikings, a renowned analyst, suggests that current market conditions are conducive to altcoin season.
“Many alts are down 60-80% in the last couple of months, and many of them have already bottomed and are in a good buy zone. Bitcoin Domination is also facing major resistance relative to where the massive altcoin season began each cycle,” Crypto Vikings declared.
Sentiment is increasingly optimistic, as many believe that the disillusionment that follows periods of prolonged economic downturn opens the way to profitable investments.
Another trader, Mags, noted that altcoins are only up 58% after breaking a 525-day accumulation. Therefore, he predicts a possible continuation of the altcoin rally after a reaccumulation consolidation.
“Permanent bears will tell you that altcoins are done and in a distribution phase. But if you look at the chart, altcoins are only up 58% since they broke out after 525 days of accumulation. Do you really think a breakout after 525 days of consolidation will end after only a 58% move?” wrote on X (Twitter).
Learn more: 11 Cryptos to Add to Your Portfolio Before Altcoin Season
On the other hand, Brian Quinlivan, senior analyst at Santiment, told BeInCrypto that there is a lack of enthusiasm for the altcoin season due to the recent price drops.
“As far as mentions of altcoin season go, we’re not really seeing any significant enthusiasm from traders about it. Traders have at least been a little bit more vocal since we started seeing prices drop over the last three days,” Quinlivan told BeInCrypto.
Disclaimer
In accordance with the Trust Project This price analysis article is provided for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to providing accurate and unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult a professional before making any financial decisions. Please note that our Terms and conditions, Privacy PolicyAnd Disclaimer have been updated.
Altcoins
On-chain data confirms whales are preparing for altcoin surge with increased buy orders
Ki Young Ju, CEO of analytics platform CryptoQuant, believes whales are preparing for an upcoming surge in altcoins.
In a recent revelation about X, Ju underlines that the volume of limit buy orders for altcoins, excluding Bitcoin and Ethereum, is increasing. This pattern suggests the formation of substantial buy walls, highlighting significant buying pressure from large-scale investors.
Ju’s chart identifies two main phases in limit order volume for altcoins: the limit sell phase and the limit buy phase. The limit sell phase saw a notable increase in cumulative sell orders in 2022, demonstrating strong selling pressure from whales and other market participants. This phase coincided with a period of falling altcoin prices due to unfavorable market conditions.
Then, the limit buying phase began, marked by a significant increase in cumulative buy orders. This indicates a period of strategic accumulation where whales establish substantial buy walls.
According to Ju, the increase in buying volume suggests confidence in the future conditions of the altcoin market. This buying pressure creates strong support levels, indicating that whales are preparing for a positive change in the market.
Buying pressure on specific altcoins
Ju also provided a heatmap of the 1-year normalized cumulative buy/sell volume difference for various altcoins, showing the buying and selling pressure over time. Solana (SOL) has seen alternating strong buying and selling phases, with recent activity showing increased buying interest. Cosmos (ATOM) and Polygon (MATIC) have also shown increased buying pressure despite mixed activity trends.
Cardano (ADA) and PancakeSwap (CAKE) have shown balanced buying and selling phases, with recent trends proving increased buying pressure. Coins like AMP and ANKR have also demonstrated increased buying activity. The heatmap reveals that most altcoins are seeing increased buying pressure as whales and large investors accumulate altcoins in anticipation of a rally.
Meanwhile, coins experiencing selling pressure, as indicated by the predominantly red areas on the heatmap, include DOGE, DASH, AXS, XRP, COMP, and AAVE, BNT.
Bitcoin whales are also buying
It is important to note that while whales are accumulating altcoins, Bitcoin whales are also active. Crypto Basic note an increase in buyer activity on Binance, which aligns with an increase in the buy/sell ratio of takers and whale movements. Analyst Ali Martinez highlighted the ratio fluctuations from below 0.8 to above 1.7 between July 27 and 31. Ratios above 1.0 indicate aggressive buying, often preceding price rallies.
From July 27 to July 28, the ratio remained mostly above 1.0, corresponding to the rise in Bitcoin price from around $66,500 to over $67,000. A spike to around 1.5 led to a sharp increase in price to around $68,500. However, on July 30 and 31, the ratio fell below 1.0 several times, corresponding to a drop in price to around $66,000, before a final spike to 1.7 indicated another slight increase in price.
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 opinion of The Crypto Basic. Readers are encouraged to conduct thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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