Altcoins
Not Ethereum or Solana, these Altcoin ecosystems are targeted by Blackrock
Banter Crypto Channel Ran Analyst is struggling to contain its enthusiasm, especially as altcoins are seeing strong performance even before the breakout is fully confirmed. If the situation continues, he advises focusing on two ecosystems, one of which is obvious, while the other has surprised many and still has potential.
The analyst pointed out that many members of the crypto community had rejected a particular ecosystem, believing it to be no longer viable. However, this ecosystem, namely BNB, has been quietly gaining momentum and recently reached an all-time high. Despite the doubts and negative sentiment, BNB defied expectations, catching many by surprise.
This unexpected surge BNB’s performance signals a shift in the market, with funds flowing from other assets like Solana to BNB. This trend, evident in on-chain data, suggests that BNB is poised for further growth, surprising bears and highlighting the importance of on-chain analysis in predicting market movements.
He also asked: “Why are BlackRock and Citadel buying the entire supply of this Altcoin sector?
He noted that Ethereum, BNB and Solana have not yet reached all-time highs. Additionally, assets such as Lio staked ETH, XRP, Dogecoin, and Cardano are unlikely to reach all-time highs. BNB is the first blockchain to take this step, entering price discovery territory with a market capitalization exceeding $100 billion.
The analyst said: “It looks like this BNB ecosystem will continue to work. Now, if the BNB ecosystem continues to work and people are caught off guard, we might actually still be ahead for the BNB ecosystem.
He said that old cycle tokens, where token circulation is already largely in circulation, indicate a healthy ecosystem. With this in mind, he advised accumulating tokens listed on the BSC chain.
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