Article reposted from: Odaily Planet Daily
Source: Bankless
Compiled by: Golem, Odaily Planet Daily
"I was wrong, I didn't expect the altcoin season to arrive at the end of November."
At the beginning of November, when Bitcoin continued to rise while altcoins performed mediocrely, the market was still worried that this bull market would not have an altcoin rally, and most institutions and analysts expressed negative views (related reading: Bitcoin reaches new highs, can altcoins keep up?). However, by the end of November, TradingView data showed that the total market capitalization of altcoins had nearly doubled since November, with Bitcoin's market share dropping to 51.4%. Meanwhile, analysts indicated that BTC's market share was about to break through a long-standing support level, significantly affecting market sentiment and indicating that the altcoin season has arrived.
In the midst of altcoin season, one might wonder which tokens to buy. Bankless co-founder Ryan Sean Adams suggests that ETH will rise to $4000 in the next 24 hours. Perhaps this is just his personal FOMO statement, but the dedicated analyst team at Bankless has been predicting the price trends of some altcoins, remaining bullish on the price trends of 10 altcoins for the next three months since the beginning of the altcoin season in November.
This article will summarize the Bankless analyst team's specific predictions and reasons for the 10 bullish altcoins, and provide a summary of the win rates for the tokens predicted to expire from late November to early December for readers' reference.
Prediction win rate for late November to early December: 40%
Excluding the neutral tokens, there are 10 tokens predicted by the Bankless analyst team whose trends will expire from late November to early December, and the predictions are as follows:
Predicted bullish but down: Euler (EUL) down 27%;
Predicted bearish but up: Ethervista (VISTA) up 66%, UMA Protocol (UMA) up 78%; Filecoin (FIL) up 55%, 1inch (1INCH) up 80.75%, Blur (BLUR) up 99.4%;
Predicted bearish consistent with actual decline: Sanctum (CLOUD) up 99.69%, GMX (GMX) down 18.04%, Kamino (KMNO) up 206.37%, Canto (CANTO) down 55.14%.
The most severely impacted by the contrary indicators are Instadapp (INST), 1inch (1INCH), and Blur (BLUR), with the highest predicted returns being Kamino (KMNO), which rose by 206.37%. However, the overall win rate for the predicted tokens expiring from late November to early December is only 40%.
Bullish token recap
Aave (AAVE)
Track: DeFi
Reason: Net deposits and active loans continue to grow, valuation indicators are favorable
Prediction period: December 2, 2024, to March 2, 2025
Predicted price: $238.91
Price performance prediction to date: Up 2.88%
On July 31, the Bankless analyst team predicted a bullish price outlook for AAVE, as Marc Zeller proposed a 'temperature check' for upgrading the security module on July 25, and AAVE tokens play a crucial role in the ecosystem.
In the past 30 days, the total active loans on AAVE have reached $12.51 billion, an increase of 46%, and net deposits have also risen to $31.37 billion, a year-on-year increase of 49%. Increased demand for leverage has driven the growth of loans and higher borrowing rates. For example, the current borrowing rate for USDT on Aave is 37%, driving a revenue surge of 63% for Aave.
However, the price of AAVE tokens only increased by about 16%, which does not align with the growth rate of protocol revenue, suggesting that the market may not fully reflect Aave's recent performance. Therefore, the Bankless analyst team remains bullish on AAVE.
Instadapp (INST)
Track: DeFi
Reason: Sustained increase in trading volume, innovation in protocol mechanisms
Prediction period: November 26, 2024, to February 26, 2025
Predicted price: $5.47
Price performance prediction to date: Up 36.01%
On July 16, the Bankless analyst team predicted a bullish price outlook for INST, as Fluid (a hybrid of money market and DEX) serves as a unified liquidity layer for Instadapp, expected to drive adoption and revenue growth. Since the launch of DEX on November 1, Fluid's total transaction volume has exceeded $1 billion. It currently ranks fifth in 24-hour trading volume on Ethereum, behind well-known projects such as Uniswap, Curve, Pendle, and Balancer.
The rapid success of Fluid may be attributed to its innovative design. Users can not only earn from borrowers but also from transaction fees. Moreover, debt positions generate transaction fees, offsetting borrowing costs, which is a unique feature that enhances capital efficiency.
Therefore, the Bankless analyst team continues to be bullish on its subsequent price performance, believing that the increasing popularity of Fluid and its smart collateral and smart debt mechanisms are key drivers of increased trading volume and efficiency in the DeFi space.
anoncast (ANON)
Track: SocialFi
Reason: Publicly recognized by Vitalik, likely to go viral
Prediction period: November 21, 2024, to February 21, 2025
Predicted price: $0.04
Price performance prediction to date: Down 37.29%
On the evening of November 20, Ethereum co-founder Vitalik Buterin first purchased Base tokens through the address "vitalik.eth", exchanging 0.082 ETH ($253) for 30.303k ANON via the DeFi aggregator ParaSwap.
ANON is the utility token of 'anoncast', a social experiment based on zero-knowledge proofs. Token holders with at least 15,000 ANON can publish anonymous posts through the Farcaster accounts associated with the protocol, and holders with at least 1 million ANON can promote these posts or delete existing ones on X/Twitter.
Although many experienced Base participants may feel some anxiety about SocialFi tokens due to the collapse of FRIEND, the difference this time is that it requires anyone who wants to interact to purchase ANON.
The Bankless analyst team is bullish on ANON's price performance, as although the token lacks fundamental value, it has gained public recognition from Vitalik, and if more in the crypto audience interact with this novel experiment, it could go viral.
Near (NEAR)
Track: L1
Reason: Riding the AI narrative, it can attract capital's attention
Prediction period: November 14, 2024, to February 14, 2025
Predicted price: $5.2
Price performance prediction to date: Up 42.88%
On November 11, NEAR Protocol co-founder Illia Polosukhin proposed a plan to create the world's largest open-source model with 14 trillion parameters, which will be 3.5 times larger than Meta's open-source alternative Llama. According to Polosukhin's report through Cointelegraph, the training and computation costs (estimated at about $160 million) will be funded by selling NEAR tokens, and the model will run on a decentralized computing network.
Although increased latency is a common drawback of decentralized computing networks, Polosukhin claims that emerging research from Google's AI subsidiary, DeepMind, indicates that fast interconnection is also possible.
The Bankless analyst team remains bullish on NEAR's price performance, as the NEAR-centric decentralized computing network, combined with Polosukhin's AI background, will be a significant advantage for the network to attract users, developers, and capital. However, if the market suddenly realizes the limited value of such activities, selling NEAR to fund model development could meaningless suppress prices.
Solana (SOL)
Track: L1
Reason: Trump's election is a positive signal, and the bullish FOMO sentiment continues
Prediction period: November 13, 2024, to February 13, 2025
Predicted price: $217.2
Price performance prediction to date: Up 9.12%
In September, the Bankless analyst team was not optimistic about SOL's price performance, believing that as holders exited the ecosystem to invest in other alternative opportunities, a decline might occur. Although SOL did not perform well compared to popular L1s like APT and SUI afterward, its dollar-denominated price steadily increased throughout October and exploded by early November due to favorable U.S. election results.
The Bankless analyst team has shifted their prediction for SOL to bullish, as under the Trump administration, it continues to enjoy favorable catalysts - such as the approval of a spot ETF - and because in the bull market, the general assumption about it is likely to continue in the foreseeable future.
Helium Network (HNT)
Track: Infrastructure
Reason: Continuous user growth, strategic cooperation with telecommunications companies
Prediction period: November 12, 2024, to February 12, 2025
Predicted price: $5.95
Price performance prediction to date: Up 43.87%
At the end of July, the Bankless analyst team was not optimistic about HNT's price performance, as the token had dropped 90% from its historical high in 2021 and 55% from its peak on February 15. Additionally, platform revenue had declined significantly after user growth peaked in early March.
However, since then, the data point consumption rate of the Helium Network has more than doubled, indicating that network usage has also doubled since July. This growth has been primarily driven by Helium Mobile users, whose numbers have increased from 105,336 at the last prediction to 119,934.
Although the total number of Helium Mobile users may not be high, the strategic partnerships between Helium and telecommunications companies help increase network utilization. For example, the number of devices connected to the IoT network by Telefonica grew by 18.1% from 2021 to 2022, followed by a growth of 12.2% from 2022 to 2023.
Therefore, the Bankless analyst team remains bullish on HNT's price performance, expecting the continued growth of Helium Mobile users and strategic partnerships with telecommunications companies to drive the utilization of the Helium network, thereby positively impacting the entire Helium ecosystem.
Pendle Finance (PENDLE)
Track: DeFi
Reason: Protocol mechanisms still have advantages in the bull market
Prediction period: November 8, 2024, to February 8, 2025
Predicted price: $5.19
Price performance prediction to date: Up 29.09%
On September 20, the Bankless analyst team predicted a bearish outlook for PENDLE's price, as there would be $360 million in earnings maturing later that month. Although Pendle continued to offer market-leading yield opportunities at that time, its token price and total locked value have sharply declined since late June 2024, when substantial $3 billion of maturing debt appeared in the funds created around the peak of the airdrop frenzy in early 2024.
Although Pendle experienced significant TVL outflows in September, the token price was not greatly affected, and TVL has been positively growing since October. Therefore, the Bankless analyst team is bullish on Pendle's subsequent performance again, believing that its yield Swap remains the leading mechanism in the market, and if the cryptocurrency bull market begins to accelerate, they will be in a favorable growth position.
Lido (LDO)
Track: LST
Reason: Trump's election sparked optimism among investors in Ethereum-related tokens
Prediction period: November 7, 2024, to February 7, 2025
Predicted price: $1.34
Price performance prediction to date: Up 56.72%
The conclusion of the U.S. election has led investors to view Trump's victory in the presidential election as a positive for the crypto market. Although Trump did not provide details on policies he believes could benefit cryptocurrencies during the campaign, he did promise to fire SEC Chairman Gary Gensler, who claimed that Lido's stETH is an unregistered security. Additionally, before the election, Trump had already raised $15 million in investments for World Liberty Financial (WLFI), which is expected to become a front-end for Aave deposits.
Although hopes for the Trump administration in the crypto industry are largely based on speculation, he could potentially fulfill vague promises and instruct administrative agencies not to enforce regulations against crypto projects during his next four-year term, and the Republican party's significant victories in Congress provide the possibility for the U.S. to incorporate such reforms into law.
Although the Bankless analyst team remains concerned about the continued decline in stETH market share and Lido's profitability, their bullish outlook on LDO is based on the expectation that Trump's election will spark investor optimism about an unknown but seemingly better future.
Uniswap (UNI)
Track: DeFi
Reason: Trump's election sparked market optimism
Prediction period: November 6, 2024, to February 6, 2025
Predicted price: $9.29
Price performance prediction to date: Up 65.12%
In October, Bankless had a bearish outlook on the UNI token due to Uniswap launching Unichain. Although UNI dropped more than 20% in the following month, it began to surge on November 6, marking the largest increase of 2024 (second only to the increase on February 23, triggered by the UNI fee conversion proposal, which was later blocked by the Uniswap Foundation), and the November surge was also due to Trump's advantage in the election.
The Bankless analyst team has reiterated their bullish outlook on UNI's price performance, expecting that cryptocurrency participants will be more optimistic about the recent regulatory prospects in the industry, especially when they apply to tokens that may distribute cash flow to holders in a manner similar to dividends.
Jito (JTO)
Track: LST
Reason: Leader in the LST track on Solana, meme coin development will benefit it
Prediction period: November 1, 2024, to February 1, 2025
Predicted price: $2.29
Price performance prediction to date: Up 60.26%
In July, the Bankless analyst team predicted a bullish price outlook for JTO, expecting that the deployment of Jito's native staking would solidify its position as Solana's leading liquid staking protocol. Although JTO's price dropped by 17% during the first three months of the prediction period, Jito's TVL has steadily set historical highs in 2024 when calculated in dollars and SOL.
The surge in meme coins on Solana has also increased MEV opportunities; due to the high slippage generated by these low liquidity meme pools, Jito's daily SOL fees have reached an all-time high.
Therefore, the Bankless analyst team is bullish on JTO's subsequent performance, believing that the protocol is solidifying its position as the top liquid staking protocol on Solana, and expects that the popularity of meme coins (and tips generated by MEV arbitrageurs) will benefit Jito.
