With Bitcoin (BTC) struggling to reach $100,000, the altcoin sector, excluding Ethereum (ETH), has shown bullish momentum over the past few weeks. XRP, supported by Ripple Labs, has risen to become the third highest cryptocurrency by market capitalization, reminding investors of the high volatility in the altcoin space.
Currently, the TOTAL3 index tracking the market capitalization of altcoins (excluding Ether) has re-tested the historical high of about $1.1 trillion. As a result, more and more retail and whale investors are flocking to mid- and small-cap altcoins, optimistic about their potential for higher returns.
Top altcoins may soon see a bullish breakout.
1. Curve DAO (CRV)
According to data from the on-chain intelligence platform Santiment, Curve DAO (CRV) is one of the mid-cap altcoins seeing a surge of whale investors. Historical data indicates that altcoins with a sharp increase in whale activity typically experience a significant rise in overall volatility.
This mid-cap altcoin has a fully diluted valuation of about $2 billion, with an average daily trading volume exceeding $1.2 billion. It surged over 50% in the past week, trading at approximately $0.77 during the European morning session on Tuesday, December 3.
2. Memecoin (MEME)
Memecoin (MEME) is a rapidly growing NFT-oriented memecoin ecosystem, supported by the 9GAG community, which has recently registered a large number of whale traders. The fully diluted valuation of the memecoin listed on Binance is approximately $1.1 billion, with an average daily trading volume of about $241 million, and nearly 1 million on-chain holders.
From a technical analysis perspective, the MEME price has formed a macro reversal pattern after entering an adjustment phase over the past few months. In the past 24 hours, the MEME price surged over 6%, trading at approximately $0.0164 at the time of writing.
3. LayerZero (ZRO)
LayerZero (ZRO) is a rapidly growing interoperability protocol connecting blockchains, which has recently seen tremendous growth. Consequently, the ZRO token has attracted significant attention from whale investors.
According to the latest data, the market capitalization of ZRO is approximately $688 million, with an average daily trading volume exceeding $790 million. This mid-cap altcoin has recently broken out of weeks of consolidation and entered a price discovery phase.
4. Trust Wallet (TWT)
Trust Wallet (TWT) is a web3 wallet supported by Binance exchange, with the number of global users recently reaching millions. As demand from whale investors continues to grow, the native token TWT has formed a macro bullish pennant.
This mid-cap altcoin has a fully diluted valuation of about $1.3 billion, with an average daily trading volume of about $66 million. It surged over 11% in the past 24 hours, trading at approximately $1.3 at the time of writing.
