Altcoins
Top 5 Altcoins to Watch for This Altcoin Season
While Bitcoin has been lateral trade, its dominance in the crypto market is losing major support and may have peaked. With the rise of altcoin dominance, investor sentiment appears to be shifting from Bitcoin to altcoins.
This change is largely due to the partial Spot Ethereum approval exchange-traded funds (ETFs) in the United States, signaling the start of an altcoin season. Once the S-1 filings are fully approved, expected in early July, the market is expected to take off, providing an opportunity to stock up on promising altcoins.
While not everyone considers this a true alt season, crypto analyst Lark Davis believes we are on the cusp of one. He has highlighted the top 5 altcoins buy now to capitalize on this altcoin rally.
Top 5 Altcoins to Buy
Jupiter (JUP) – JUP is an Ethereum token power the Jupiter Project aimed at blockchain accessibility and security. Despite a 4.00% decline in 7 days, outpaced by the market’s 1.60% decline, analysts have observed a recent price rise over the past 2 days, signaling the rally to come.
Aerodrome (AERO) – Positioned as a centralized exchange within the core ecosystem, with aspirations to become its primary decentralized counterpart. Historical price analysis, combined with BTC halving cycles, suggests a potential rise towards $3.5. For now, it is trading at $1.13 reflecting a 2% decline.
Sub-squid (SQD) – A blockchain indexing solution, which makes blockchain data accessible to developers. It is attracting the attention of large investors and is expected to benefit from growing demand. However, analysts predict a price rise of 228.90% to $0.483455 by July 2024. Currently, sentiment is bullish, with the Fear & Greed Index at 73 (Greed).
Oasis (PINK) – A layer one blockchain prioritizing scalability and privacy, intended for financial and AI applications. Changelly’s recent predictions see ROSE rising to around $0.0532. Currently trading at $0.1011, with a slight 24-hour increase, reflecting a market cap of 6.7 billion.
Ghost (FTM) – Despite current price fluctuations, experts predict an average FTM rate of $0.28 by the end of 2024. The minimum and maximum prices can vary between $0.19 and $0.23. Currently, FTM hovers at $0.87, with a market capitalization of $2.3 billion. Despite this, trading volume jumped 176% to $214 million.
As Bitcoin’s dominance wanes and altcoin sentiment strengthens, the market is gearing up for a potential altcoin season. However, this suggests that altcoins could soon be on the radar as they show promising signs of a future price rally.