$BTC has dropped significantly, while $ETH has not only held its ground but has risen, and $ACT and $PNUT have also stabilized the market, seemingly indicating the official start of altcoin season?
Bitcoin's pullback has arrived as expected; however, alongside the volatility, Ethereum and altcoins have started to gain momentum, creating a divergence, and BTC.D has quickly fallen.
Note that while Bitcoin altcoins are falling, Bitcoin is rebounding at this time, and altcoins are rising even more aggressively. Therefore, during Bitcoin's pullback, Ethereum and altcoins can potentially surge.
My understanding is that funds in Bitcoin are starting to flow out. Many people holding Bitcoin may waver in their beliefs, and when it rebounds, some will enter altcoins.
Bitcoin will have ups and downs with altcoins starting to take off. The mindset at this time is still to pick those that haven’t risen yet, particularly altcoins with fundamentals.
Will this altcoin rebound trigger the arrival of altcoin season?
Unless there are large applications in the altcoin ecosystem, altcoins will remain in a rebound and catch-up trend. Bitcoin is consolidating around $100,000, meme coins are adjusting, and funds are rotating into altcoins, bringing market activity.
During this time, many obscure old coins have surged significantly because their institutional holdings are concentrated, making them easy to pump. From a fundamental perspective, ETH's on-chain activity and demand have not changed, gas remains at historical lows, inflationary pressure persists, and the high FDV of altcoins, along with continuous unlocking, has not changed the drawbacks. So the market is still in a rebound catch-up.
It should be noted that this altcoin sector is just a rebound; after some good gains, it's best to take profits unless Ethereum shows significant application innovations, a trend-driven bull market arrives, or new innovative sectors emerge in altcoins that attract market speculation!
Attention can be paid to the rebound potential of Ethereum ecosystem tokens. After all, the U.S. ETF only includes Bitcoin and Ethereum, and the status of the 'king of ecosystems' remains, with earlier FUD leading to significant declines in its ecosystem tokens, so the rebound space will also be large, such as the leading staking token LDO; Layer 2s like OP, ZK, STRK, ARB; domain names like ENS, etc.
MEME sector: doge, shib, pepe, floki, bonk, pnut
AI sector: agix, wld, fet, ai, nmr
Public chain sector: eth, bnb, sol, matic, ftm, ada, avax, $atom
BTC halving sector: bch, bsv, zec, zen, btg
Gamefi sector: sand, mana, gala, enj, ron, pixel, ace, ilv, magic
➜ $FTM
A typical strong whale coin.
Applicable for DeFi, enterprise solutions, and real-world applications.
Its Lachesis consensus mechanism ensures rapid transaction finality and high throughput, distinguishing it from other platforms.
Fantom focuses on creating a user-friendly and efficient ecosystem that has been widely adopted in DeFi and other areas.
➜ $SUI
Wall Street institutions are very optimistic about public chains and new coins.
This coin has been mentioned many times by Old Chen, Sui now resembles early Solana, with many opportunities.
Additionally, Sui's Move language is also very well utilized, and the technology is very solid. Sui's technical reputation is significantly better than Apt, offering a better experience and evaluation from both ecosystem users and developer communities.
➜ $GRASS
GRASS is an innovative decentralized network focused on providing a 'data layer' for artificial intelligence (AI) models.
GRASS is the cornerstone of the AI revolution, transforming the internet into a collective resource for AI companies and enabling individuals to profit from data they typically would not utilize.
➜ $STX
Fully circulating, Upbit accounts for the majority of trading volume. Nakamoto upgrade completed.
At the beginning of the year, when Bitcoin's ecosystem was soaring, it was one of the fastest rising, and the only usable Layer 2 network. In the context of the new Layer 2 narrative collapsing, it has uniqueness. The upcoming decentralized Bitcoin asset sBTC provides a technical foundation, injecting liquidity into Bitcoin DeFi on Stacks.
As an SEC-compliant project, it has a natural regulatory closeness.