I've only seen this type of market in 2017 and 2020, when the market situation was generally similar to now, along with the concept of Bitcoin draining. Eventually, that concept faded, and it mostly followed Bitcoin's fluctuations. So now, seeing Bitcoin drain while all the coins lay still doesn't feel too significant; just waiting is fine. I have a gut feeling that BNB is holding back something big; it’s not that it won’t explode, but the time hasn’t come yet, and for now, it’s just following the main squad.
In these past few days, even the much-maligned ETH has rallied; as long as BTC holds steady without draining, the altcoins' party will begin.
How could there possibly be no altcoin season? The gambling nature is evident, and behind every altcoin on the BN is a dealer's restless heart.
Lay out 3 cryptocurrencies with a potential 100x increase in the future!
1. TAO
Bittensor (TAO) is the core of a decentralized AI ecosystem developed by Digital Currency Group (DCG). Under the leadership of Barry Silbert, DCG has recently shifted its focus to decentralized artificial intelligence. The group plans to incubate and develop businesses utilizing decentralized AI through its new enterprise, Yuma. The Bittensor network incentivizes users to contribute computing power and data for tasks such as text translation, data storage, and protein structure prediction.
TAO is currently priced at 468.03, with a daily change rate of 2.28%. The market cap of this token is 3.45 billion, with a fully diluted valuation of 9.83 billion. Its circulating supply is 7.38 million, while the maximum supply cap is 21 million.
Bittensor's growth over the past year is remarkable. The price has risen by 85%, outperforming 53% of the top 100 cryptocurrencies during the same period. Additionally, its trading price is 282.06% higher than the 200-day simple moving average. However, despite the strong performance, current price predictions for TAO remain bearish.
The market sentiment surrounding this token reflects mixed signals. Although the Fear and Greed Index shows 'Extreme Greed' at 82, indicating strong market interest, bearish predictions suggest a price correction may occur. Predictions for December 2024 indicate that TAO's trading price could range between 1,601.05 and 2,271.45, with an average price of 1,985.22. If these predictions hold, investors could see a return on investment of up to 386.66%. TAO has high market cap liquidity, with a 24-hour trading volume of 338.7 million. The trading volume to market cap ratio is 9.71%.
2. OP
Optimism (OP) is currently priced at $2.08, having risen by 19.58% in the past 24 hours. This price increase brings its market cap to $2.59 billion, with a trading volume of $857.19 million. The fully diluted valuation (FDV) is $8.85 billion, with a total supply of 4.29 billion OP, which is the maximum supply.
Over the past year, Optimism has risen by 22%, and the current trading price is 30.09% higher than the 200-day simple moving average (SMA) of $1.60. This indicates relatively strong market performance. Currently, the sentiment surrounding Optimism is bullish. The Fear and Greed Index is at 82, indicating extreme greed. In light of this, further price increases are expected.
In November 2024, predictions indicate the price could rise to $3.39. The price that month could range from $1.70 to $5.85. If these predictions come true, investors may see a potential return of 178.23% based on the current price. Entering December 2024, Optimism's price is expected to range between $5.73 and $8.15. The monthly average price could reach $7.12, implying a potential return rate of 287.51%.
3. MKR
Maker (MKR) is currently valued at 1,540.14, having risen by 2.05% in the past 24 hours. Over the past year, its price has increased by 5%. The Fear and Greed Index is at 82, reflecting 'Extreme Greed' in the market. This indicates that investor confidence is steadily growing. Furthermore, the token exhibits high liquidity, consistent with its market cap.
Predictions for November indicate the price may rise, expected to reach 2,359. This month's expected trading range is between 1,472.47 and 2,759.40. This range may be influenced by last month's market performance. If the price reaches the upper end of the range, investors could see a return of up to 79.18%. This assumes they buy at the current price and sell at the predicted peak.
By December, the trading price of this token is expected to fluctuate in a larger range between 2,610.72 and 4,098.78. Analysts predict that by the end of this year, the average price will reach 3,561.04. Compared to the current value, this represents an increase of about 131.23%. For those entering the market now, if the predictions hold, this could mean a return on investment (ROI) of up to 166.15%.
