On Monday during the early Asian trading session, the cryptocurrency market showed strong momentum, with its total market capitalization surging 2% in the past 24 hours, reaching an all-time high (ATH) of approximately $3.64 trillion.
Previously, due to Bitcoin (BTC) failing to reach the highly anticipated $100,000 target price in November, investors' focus has gradually shifted towards the altcoin sector.
Significant shift in investment model
CryptoQuant founder and CEO Ki Young Ju pointed out that the current altcoin market is no longer dominated by rotation of Bitcoin's cash as it used to be. Moreover, there has not been a significant outflow of funds from Bitcoin recently, so those large altcoins will not experience substantial increases merely due to the rotation of Bitcoin funds.
Conversely, Ju emphasizes that the significant growth of altcoins this time is primarily driven by stablecoins and fiat currency pairs, reflecting a real market growth trend rather than a simple rotation of assets among different categories.
Top altcoins worth paying attention to in the future
Litecoin (LTC)
Ripple (XRP) growth presents opportunities for altcoins that were previously seen as 'dinosaurs', with LTC performing outstandingly. Its price has been within a macro triangle formation for the past six years, with potential for a bullish breakout like XRP to create a new all-time high.
It has a fully diluted valuation of about $10 billion and has surged over 18% in the past 24 hours, currently retesting the $120 resistance level, with further upside potential due to improved fundamentals.
Uniswap (UNI)
With the development of DeFi on the Ethereum network, UNI, as the largest DEX with the strongest liquidity, has a promising outlook and is expected to achieve a significant bullish breakout.
It has a fully diluted valuation of about $12.6 billion and has surged over 40% in the past two weeks, surpassing $12 in the first week of December, with expectations for a bullish breakout to reach its all-time high.
Chainlink (LINK)
LINK is a highly undervalued altcoin, supported by many institutional investors. Its fully diluted valuation is about $18.7 billion, having surged over 30% in the past two weeks, with a trading price of about $19 at the time of writing. As institutions adopt its products to support multi-chain smart contract usage, the price is expected to rise further.
