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Elena R
Elena R
Author
Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.
- Dec 03, 2024 05:12 UTC
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Top Altcoins Crypto Investors are Buying for Max Profits
Altcoins, particularly those backed by strong communities and whale interest, are experiencing significant growth.
Curve DAO (CRV), Memecoin (MEME), LayerZero (ZRO), and Trust Wallet (TWT) are among the top-performing altcoins.
Increased whale activity in these altcoins suggests strong investor confidence and good potential.
While Bitcoin (BTC) continues to face challenges breaking past the $100,000 milestone, the spotlight is shifting to altcoins—excluding Ethereum (ETH)—which are gaining serious momentum. Ripple Labs-backed XRP has surged to become the third-largest cryptocurrency by market cap, offering a glimpse of the immense potential and volatility in the altcoin space.
The TOTAL3 index, which tracks altcoin market capitalization excluding Ether, has retested its all-time high of approximately $1.1 trillion. With retail and whale investors rushing to capitalize on mid and small-cap tokens, the altcoin market is buzzing with activity.
Which tokens are leading this charge, and what makes them stand out? Let’s dive in.
Top Altcoins Set for Strong Breakouts
Curve DAO (CRV)
Curve DAO (CRV) is drawing attention due to a sharp rise in whale activity, as highlighted by on-chain analytics firm Santiment. Historically, such activity often signals increased volatility and potential price rallies.
With a fully diluted valuation of about $2 billion and daily trading volumes exceeding $1.2 billion, CRV has surged more than 50% over the past week. As of December 3, it was trading at around $0.77, maintaining bullish momentum.
Memecoin (MEME)
Memecoin (MEME), an NFT-focused token backed by the 9GAG community, is also seeing significant whale activity. Listed on Binance, MEME has a fully diluted valuation of $1.1 billion and daily trading volumes of $241 million, with nearly 1 million on-chain holders.
Technically, MEME is forming a macro reversal pattern, signaling an end to its recent correction phase. In the past 24 hours, its price rose by over 6%, reaching about $0.0164.
LayerZero (ZRO)
LayerZero (ZRO), an interoperability protocol connecting blockchains, is gaining traction with growing whale interest.
With a market cap of $688 million and daily trading volumes exceeding $790 million, ZRO recently broke out of a multi-week consolidation, entering a price discovery phase.
Bitcoin dominance declines as altcoins rally; is BTC losing steam? Read Bitcoin price prediction for insights on what’s next!
Trust Wallet (TWT)
Trust Wallet (TWT), the native token of Binance-backed Trust Wallet, is benefiting from the growing adoption of Web3 wallets. The token has formed a bullish pennant pattern, driven by increasing whale activity.
With a fully diluted valuation of $1.3 billion and daily trading volumes around $66 million, TWT surged over 11% in the last 24 hours, trading near $1.30.
Keep a Close Eye on Altcoins
As Bitcoin struggles to regain dominance, the altcoin market is becoming a hub of opportunity. With increased whale activity and technical breakouts, mid and small-cap altcoins are showing significant potential.
These tokens could offer substantial returns, making them worth watching as the crypto market evolves.
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