Markus Thielen, the Head of Research at 10x Research, savvy traders are shifting their focus from Bitcoin to promising altcoins, and you might want to pay attention. Recent trends indicate a notable surge in trading volumes for altcoins as investors seek high-risk, high-reward opportunities amid changing market dynamics.
Since mid-March, Bitcoin has undergone a volatile correction characterized by four lower highs. However, there’s a silver lining: if Bitcoin breaks past the $65,000 mark, it could signal a resurgence, potentially pushing prices above $70,000. Experts even speculate that it could reach new all-time highs by the end of this year!
While Bitcoin’s dominance slips, altcoins are stepping up. Many traders who used to only invest in Bitcoin are now looking at these alternative coins.
Ethereum, in particular, deserves attention. Despite facing challenges, it’s showing signs of recovery, with weekly revenues hitting $21 million—the highest since June 2024! This uptick could further boost Ethereum’s price, especially as rising gas fees indicate increased network activity.
As Bitcoin’s prominence diminishes, cryptocurrencies like Solana and other DeFi tokens are capturing traders’ attention. Recent positive market movements following the Fed’s meeting have prompted a closer examination of speculative altcoins.
TAO – TAO is a decentralized finance (DeFi) app that’s currently priced at $562, showing an incredible rise of 76% in just the last week!
Ethena (ENA) – Ethena is a synthetic dollar protocol built on Ethereum. Though it’s down from its previous high of $1.49, signs of massive growth are emerging.
SEI – SEI tokens let users pay transaction fees on the Sei network. This altcoin has jumped 70% in the last week and is now trading at $0.46.
APT (Aptos) – Aptos is a Layer 1 Proof-of-Stake blockchain for validator staking and governance. It’s currently trading at $8.21, with a recent rise of 4.5% in just 24 hours.
Sui Token (SUI) – Sui is the native cryptocurrency of the Sui network. It’s one of today’s top gainers, up 12.4% in the last 24 hours!
NEAR Protocol – NEAR is a blockchain network that helps developers build decentralized applications (dApps). It has gained 30% in the past week, making it an attractive altcoin to buy.
The Graph (GRT) – The Graph is an Ethereum token that indexes and queries data from blockchains. It’s currently priced at $0.18 and has risen 2% in the last 24 hours.
Don’t miss out on these altcoins—they might just be the next big winners!
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