BTC dominance is declining, altcoin season may be coming
Let's talk about Bitcoin first. The trend of this round of bull market is indeed different from the past. Bitcoin's market share is declining, and altcoins are getting stronger and stronger. For example, XRP's market value has increased fivefold in the past five weeks, even surpassing old projects like SOL! This is surprising because XRP is a relatively old project and it shouldn't be so strong.
Some other established altcoins also performed strongly, such as XLM, ADA, etc. Even some early DeFi projects have begun to recover.
Moreover, some emerging coins are performing well, such as AI-related coins, RWA coins, and Meme coins, which are continuously rising with little pause. Perhaps this altcoin bull run is simply a manifestation of such a trend, as Bitcoin's market share has dropped from 60% to 54%.
Capital Flow and Market Trends
As Bitcoin's dominance declines, capital in the market is beginning to flow towards tokens in the Ethereum ecosystem and some lesser-known altcoins.
Three altcoins are on the verge of a strong breakout! Positioning for the first 100x coin of the bull market!
ONDO
ONDO is a tokenized project supported by the globally renowned investment firm BlackRock, with its core narrative being the integration of traditional finance with on-chain finance. ONDO aims to channel traditional financial liquidity into the blockchain market and is expected to use cryptocurrency as collateral to invest in traditional finance. This strategy will help achieve a closer integration between the crypto market and traditional financial markets, facilitating cross-market capital flow.
In addition, ONDO is building the next generation of financial infrastructure, striving to improve market efficiency, transparency, and accessibility. With its strong background support and innovative financial technology, ONDO is expected to become an important leader in the future of the crypto finance sector.
AAVE
The net deposits of the decentralized finance (DeFi) platform Aave have reached $31.4 billion, marking an important milestone. This figure represents a significant growth of 50% within a month, up from $20.9 billion at the beginning of November. This growth highlights the increasing interest in Aave's lending services.
In the past 30 days, Aave has gained $10.4 billion in new deposits. The platform's native token AAVE is currently priced at $237.00, reflecting a 5.99% increase in the last 24 hours. Its trading price is significantly above its 200-day simple moving average (SMA) of $137.90, exceeding this benchmark by 71.13%. This indicates a strong upward trend in its value.
Meanwhile, the market sentiment for AAVE remains bullish, with a fear and greed index of 76, indicating strong market confidence. The token has shown a positive trend on 16 out of the past 30 days, suggesting stable performance. Its trading volume to market cap ratio is 0.4084, indicating active trading activity.
AVAX
Avalanche (AVAX) has recently shown significant price fluctuations. The price has increased by 15.32% in the past week, indicating strong short-term growth. Over the past month, AVAX has risen by 95.84%, nearly doubling in value. In six months, the token has increased by 34.45%, indicating stable long-term growth.
The current trading price of AVAX is between $49.80 and $59.22. The price is approaching a resistance level of $53.29. If it breaks through, the next resistance level is $62.70. On the downside, the support levels are $34.46 and $25.04, which may provide stability if the price declines.
Technical indicators show bullish momentum. The 10-day moving average is $47.49, slightly above the 100-day moving average of $44.61, indicating an upward trend. The Relative Strength Index (RSI) is 61.21, above neutral but below overbought levels, suggesting potential for further growth.
