ETH is showing strong momentum; is a season of altcoin rallies approaching? Which lane projects will stand out?
In recent days, ETH did not drop with BTC, and started to rise significantly last night, nearing $3,700, reminiscent of the market trends in 2020-2021.
At that time, BTC initiated a significant rally, while ETH experienced a fluctuating increase. Later, the roles reversed, and ETH surged significantly, leading to a violent rally across various lanes.
History may not simply repeat itself, but it has immense reference value.
Although there are essential differences from 2021, such as the Fed not providing liquidity and limited liquidity, if BTC maintains FOMO sentiment and ETH continues to rise, which lane projects are worth watching?
Let's first look at the Ethereum ecosystem:
Once again exploded, with multiple popular tokens making appearances!
Including:
- ENS (Ethereum Name Service): Surged over 53% in a single day, becoming a leader among the top 300 tokens by market value. This coin was also discussed by Sweet Sister yesterday.
- Puffer (Ethereum liquidity re-staking project): Price skyrocketed by 60%.
- EIGEN (the native token of the Ethereum re-staking project EigenLayer): Increased by 25% in a single day, breaking through $4.1, just under 10% away from its historical high, currently priced at $3.77.
- INST, ENA, etc.: also performed well, becoming new favorites for investors.
Ethereum's strong comeback and the explosive power of related ecosystem tokens should not be underestimated; the market may soon welcome a season of altcoin frenzy!
- MEME Lane:
What I am focusing on are the new MEME projects that have recently been listed on major exchanges like Binance; based on historical experience, they will continue to be speculated, and market makers need to profit from market speculation.
Of course, previous old MEMEs also have opportunities, but specific position allocation should be grasped by everyone.
Don't forget that an amazing new MEME was born at the end of 2023, and during that peak when Bitcoin hit 73,700, an amazing new MEME also launched on Binance spot. The next amazing MEME may continue to emerge on major exchanges.
- Public Chain Lane:
In every bull market, public chains have never been sidelined. SOL, INJ, TIA, SUI, SEI, and many more.
Especially the new public chain projects that have landed on major exchanges like Binance in the last one to two years, such as OMNI, have risen significantly recently. As for old public chains, opportunities can be focused on SOL, INJ, ADA, etc.
- AI Lane:
At the beginning of 2023, many AI-related projects in the crypto market saw significant increases.
Then from the end of 2023 to the beginning of 2024, AI-related crypto projects like FET saw good increases, even those slightly related to AI, like WLD, ARKM, etc., also had considerable gains.
Recently, AI-related projects have been on fire; I don't need to say more.
- L2 Lane
Since the relevant projects in this lane landed on major exchanges like Binance, the only real rally was during the ETH narrative upgrade, and then during the wave from the end of 2023 to the beginning of 2024. You should remember the increases of ARB, OP, etc.
Also, ETH needs to rise significantly, so in this lane, we should focus on the strong narratives and leading projects that can make a difference.
The market has new lanes and new narratives, which need more attention.
Then for other lanes like infrastructure, if you have surplus funds, you can choose leading projects to allocate. I have summarized this based on the recent projects launched on Binance, CB, and the macroeconomic situation in the US along with past bull market feedback.
Recently performing well wealth coins:
» Thena (￥THE)
Market Value: $186 million
24-hour trading volume: $3.869 billion
THE, a decentralized exchange (DEX) and liquidity platform based on the BNB chain, is sweeping through the DeFi ecosystem as a disruptor! It not only offers a permissionless and easy-to-use experience but also makes token swaps, yield farming, and liquidity provision unprecedentedly simple.
After the recent announcement of the upcoming listing on Binance, THE price surged by 1718% in just a few days, triggering a strong market reaction.
Binance's listing of THE improved liquidity and integrated THE into platforms such as Simple Earn and Auto-Invest, enhancing investor accessibility. The growing demand is expected to strengthen THE's position in DeFi, and Binance's support and market interest will drive THE's price up in December.
» Celestia (￥TIA)
Market Value: $3.683 billion
24-hour trading volume: $828 million
TIA, as a leader among modular new public chains, has just broken through its historical high. In the context of an overall market correction, TIA's ability to rise against the trend demonstrates the strong strength of its backers.
From a technical perspective, the weekly K-line pullback has basically ended, and on the daily level, TIA quickly rebounded after touching the 5-day moving average, showing typical characteristics of a strong currency.
In the short term, TIA is expected to continue to rise and is likely to easily reach around 12u. $ETH