Is there still a season for altcoins in this bull market of the crypto market?
I believe this is the biggest question in the hearts of most friends in this bull market. Bitcoin is almost at [six figures per coin], while altcoins are still falling. However, very few retail investors hold Bitcoin, and whether holding valuable coins or MEME coins, every day it's just being hit!
The current market is severely stratified, with large funds only recognizing Bitcoin, so the newly added funds off the market are all focused on Bitcoin, while small funds within the circle are strongly profit-seeking, going wherever they can make money.
Currently, there are only a few points that can break through; only then can altcoins on CEX possibly take off:
The first condition is certainly Bitcoin breaking through $100,000 and being able to stabilize above $100,000 for more than two weeks.
The second condition is the approval of Ethereum's staking ETF, leading off-market funds to begin focusing on the Ethereum ecosystem and other blockchain-native assets.
The third condition is the relaxation of crypto regulations, leading to another wave of significant innovation on-chain, similar to the DeFi summer back in the day, preferably with a few killer applications emerging. This way, the asset funds will naturally shift from a defensive posture to an offensive one, and funding leverage will be reopened.
As long as two of these three conditions are met, the altcoin bull market we are familiar with will return!
Four cryptocurrencies are expected to rise by 50 times!
ONDO
Ondo Finance's ONDO token has recently experienced significant price fluctuations. This month, due to integration with PayPal's PYUSD, the token rose by 35%. Following this, the price of ONDO increased by 9%, reaching $1.05. Over the past week, it has risen by 13%, reflecting growing investor interest.
The market outlook for ONDO remains optimistic. Analysts predict that by December 2024, the trading price of this token will be between $3.45 and $4.90. This prediction indicates that its price could increase by about 317% from the current level. If realized, the return on investment (ROI) for investors could reach 376.15%.
NEAR
NEAR Protocol is a blockchain platform designed to help developers build and launch decentralized applications. It uses sharding to improve efficiency and scalability, allowing for more transactions to be processed simultaneously. NEAR operates on a distributed network, similar to centralized data storage systems, but is decentralized. The project was founded by Alex Skidanov and Illia Polosukhin and has raised over $20 million from large venture capital firms.
It adopts the Nightshade sharding solution for better scalability. The Rainbow Bridge allows Ethereum tokens to be transferred to the NEAR network. Aurora is a second-layer solution that uses Ethereum technology to enhance performance and reduce fees.
Kaspa
Kaspa is a proof-of-work cryptocurrency that uses the GHOSTDAG protocol. Unlike traditional blockchains, GHOSTDAG does not discard concurrently created blocks. Instead, it allows them to coexist and arranges them in a consensus-driven manner.
This means that the Kaspa blockchain is a blockDAG. This system allows for secure operations at a very high block rate. Currently, it is one block per second, with a goal of ten per second, and even dreams of one hundred per second. Confirmation times are very short, mainly depending on internet speed. Kaspa includes features for checking the accessibility of the DAG layout, block data pruning, SPV proofs, and subnet support plans. These make it easier to develop second-layer solutions.
Sui
Sui is a new first-layer blockchain platform built for global adoption. It provides a secure, powerful, and scalable development platform. Sui uses a novel object-centric data model and a secure Move programming language. This addresses the inefficiencies in existing blockchain architectures. Sui focuses on user experience by eliminating common barriers in blockchain interactions. With innovations like zkLogin, sponsored transactions, and programmable transaction blocks, Sui aims to make Web3 applications accessible and user-friendly.
