Altcoins
Top Three Altcoins Set to Soar
Explosive gains to come: There is growing concern about a possible further drop in the price of Bitcoin. On June 26, the price of Bitcoin fell back to $61,000, further alerting investors. Analyst Altcoin Buzz has taken to his latest analysis and asked: “Are we on the verge of a bigger fall in the price of Bitcoin? At the same time, he said three altcoins looked perfect for larger rallies and had huge potential.
Part 1: Ondo
The analyst speculated that Ondo could soon see a price rally. This follows previous expectations that Ondo would hit a new all-time high and dominate the market after its price hit $1.48 on June 3. Contrary to these predictions, Ondo’s price has since fallen by 18% from its peak. For Ondo, recent developments indicate that a bullish forecast could come to fruition.
Currently, Ondo’s realized cap stands at $1.15 billion. This metric is crucial for identifying regions of accumulation and distribution. If the realized cap is higher than the market cap, it usually indicates a potential price decline. Currently, Ondo’s market cap is $1.7 billion, indicating that the lower realized cap supports a bullish outlook for the price.
Exhibit 2: Near Protocol
Near Protocol, launched in 2018, is gaining traction due to the expansion of its network business in the first half of the year. Recent data suggests that Near is poised for a breakthrough in terms of user adoption and public attention. The growing network activity is also reflected in the volume of assets coming in versus those going out of the network. Clear, sustained transition flows generally indicate growing user confidence and optimism about the future of the network.
Piece 3: Sui
Sui, a layer 1 blockchain, recently partnered with Copper, a leader in digital asset custody. Copper’s expertise is expected to streamline asset management and security on Sui, starting with native tokens like the Ando USD Yield (USDY) stablecoin. This partnership aims to address the specialized needs of institutional finance, including efficient treasury operations and the expansion of financial activities within blockchain.