Altcoins
These coins started a “massive altcoin rally” by outperforming Bitcoin and Ethereum
About Crypto Banter’sThe Sniper Trade Show the analyst took a closer look at the market, especially regarding altcoin investments and long-term holdings. He stressed the importance of understanding performance relative to Bitcoin and Ethereum, the two major players in the market.
By adjusting settings to view currency performance relative to Bitcoin or Ethereum, investors can discern which tokens are outperforming Bitcoin. Although few tokens have shown major outperformance over the past week due to temporary factors such as the retests of dominance, some tokens have shown promising performance against Bitcoin over the past month.
With Bitcoin and Ethereum gaining attention and experiencing bullish trends, the focus is now on identifying tokens that could outperform. Tokens like Injective, Render, Blockstack, AVAX, Ethereum and Sushi are showing signs of awakening and outperforming Bitcoin.
The analyst explained that if you look at Ethereum, not much has beaten it lately except for dydx, a decentralized exchange and a few others. He believes Ethereum will do better than most altcoins at the moment, but many altcoins will follow when it takes a big step forward.
He explained that by comparing Solana to Ethereum, you can see which one outperforms the other. When the graph is green, Solana is doing better; when it is red, Ethereum wins. So, if you had traded one Ethereum for Solana last September, you would have already earned three Ethereum. Many focus on the price of the token, but what matters is its performance compared to Bitcoin and Ethereum.
The analyst highlighted how platforms like Optimism can help you earn more Ethereum. He loves charts that show consistent patterns over time, just like the one in Cosmos. If you notice when the pattern changes, you can make smart gestures. For example, selling Ethereum to buy Atom and then buying Ethereum back later can help you grow your assets.
He suggested slowly accumulating tokens like Injective, and when it starts to break through, it’s time to dive in. Look at Theta: he’s perfectly positioned now. Remember that over the last cycle, some tokens outperformed Ethereum by 1,300%. Currently, Ethereum is the focus, but we should also be ready for the next phase when altcoins start to overtake Ethereum.