Old-school altcoins, why have they suddenly surged collectively?
This past weekend, there wasn't much movement in the market, with Bitcoin and Ethereum fluctuating slightly. But surprisingly, some old-school altcoins, such as XRP, HBAR, ADA, and EOS, surged more than 30%!
It seems that Bitcoin's spotlight has been somewhat stolen, and altcoins are starting to shine. As long as Bitcoin remains stable, altcoins will take turns rising joyfully.
Why are these old altcoins performing so well? It's mainly due to Trump's policies! He wants to exempt cryptocurrencies issued by American companies from taxes, so Americans won't have to pay taxes on the profits they make from holding these coins. Coins like ADA, ALGO, XRP, and HBAR are all created by American companies, so how could they not be popular?
On Coinbase, XRP's trading volume surged to first place, leaving BTC, ETH, and DOGE behind. The enthusiasm of Americans is truly unstoppable! XRP's market capitalization also reached a new high, returning to the top three. I've heard they are even planning to issue a new stablecoin.
And then there's XLM, an old project from 2014 that suffered terribly over the past four years, but in the last three weeks, it has almost returned to its historical high.
Looking at this trend, when Ethereum rises, funds flow into altcoins. If you already have some altcoins, don't rush to exchange them; they are likely to rise in turn.
Previously, altcoins weren't popular because there was no money in the market. But now, with the Federal Reserve lowering interest rates, there's more money available, and every coin is being traded. However, one needs to have insight when picking these projects.
Currently, the hottest trades are new meme coins and revitalized old coins. This is because there is little supply pressure! Personally, I am more optimistic about new projects, like ACT, which has a new track and new stories, with limitless imagination space.
If you were a market maker, which would you promote? The already overheated old coins, or the new projects with unlimited potential?
Be cautious when selecting old altcoins; many have dropped over 90%, with a lot of trapped holders and limited imagination space. This time, the market makers might just be using Trump's favorable policies to push prices up and sell off; we need to see if the momentum can sustain, so we don't end up as the ones left holding the bag.
Now BTC has pulled back to 96,000, and the market is experiencing a full explosion! In this situation, it's the best time to lay out potential altcoins! I have carefully selected a coin expected to double or triple in the short term, and five to ten times in the long term. Scan the QR code below for a free share!