Today, the old mainstream currencies have ushered in a wave of sustained rise driven by XRP. The main reason may be that investors of these currencies have previously experienced multiple rounds of market manipulation and their current positions are relatively light.
At the same time, Bitcoin is testing the support level near $95,000. From the liquidation map, the 7-day support at $95,000 is relatively stable, while the pressure above $99,000 still needs attention. It is expected that Bitcoin may rebound quickly as the U.S. stock market opens in the evening, so there is no need to worry too much about the daily correction.
Judging from the market capitalization of Bitcoin, there is still room for a certain decline, which provides the possibility for altcoins to make up for the rise. In the past month, the total market capitalization of altcoins outside the top 10 has doubled, while Bitcoin has increased by about 50%.
In other words, if your account hasn't doubled in the past month, it has already underperformed compared to the average altcoin performance; a gain of less than 50% even means underperforming Bitcoin.
Currently, there are obvious signs of capital rotation in the market. Previously, Bitcoin and meme coins were the mainstream combination, but now traditional altcoins driven by Ethereum are gradually taking over. The Solana series of coins has already experienced a phase of explosion, but has temporarily retraced; the BSC series has yet to start. In the last 10 days, funds have clearly flowed out of Bitcoin speculation and into the Ethereum ecosystem, with funds in smaller on-chain tokens also shifting accordingly.
Overall, the speculation of traditional altcoins in this round is expected to continue. Over the past two years, Bitcoin's price has increased by six times, while altcoins have only about three times. Given the current capital environment is inferior to that of 2021, the overall expectation for this round of altcoin performance should be appropriately lowered. Even so, achieving returns of several times on a full investment would already be quite ideal.
Three popular cryptocurrencies that are sure to soar in a bull market!
DOGE
Initially just the birth of a joke, it has now entered the top ranks of digital currency market capitalization; this is the miracle of Dogecoin (DOGE).
Its success is inseparable from Musk's multiple boosts and the large, enthusiastic community support behind it. DOGE uses the Scrypt algorithm, allowing for fast transactions with low fees, making it particularly suitable for small payment scenarios.
Whenever Musk posts tweets related to Dogecoin, the price of DOGE often rises rapidly, fully reflecting its strong market appeal.
TRX
TRX, as the native token of the Tron public chain, has performed remarkably well thanks to Tron's strong stablecoin reserves. Although the Tron ecosystem was once considered to lack use cases, its real user base consists more of institutions and whales needing stablecoin transfers, leading to a stable growth in demand for TRX, thus demonstrating long-term robustness and strength.
This year, the Tron ecosystem has witnessed the explosive rise of the Meme Season, with a large number of users participating in the Memecoin projects on the Tron chain. This adds a unique meme attribute to TRX, garnering more market attention and empowerment on top of its existing advantages. Similar to the performance of SOL, it can be seen that the support from the meme ecosystem often brings the potential for a second explosion.
As the altcoin season approaches, TRX, being one of the most resilient assets among the top ten by market capitalization, is expected to take off significantly in this market storm. Moreover, thanks to a series of eye-catching market operations by Sun, I believe TRX is likely to become one of the most outstanding projects in the current competitive landscape.
PENDLE
Pendle is an innovative project that combines DeFi and LSDfi trends, focusing on optimizing yields and trading protocols for staked assets. Its token economic model is highly correlated with the growth in the LSDfi field, especially under the impetus of Ethereum upgrades, Pendle is expected to fully benefit from the expansion dividends in this area.
Currently, Pendle's TVL (Total Value Locked) has surpassed $6.2 billion, a growth of more than 30 times compared to November last year, with an annual revenue of about $30 million. This project has not only attracted investment from many top funds but also demonstrated a strong capital-raising ability, showcasing robust development potential in the market.
