Why do I keep saying there will be an altcoin season?
Looking back at the last bull market from 20-21, Bitcoin surged from the end of September 2020 to December 2020, while all DeFi coins were correcting, and most altcoins were stagnant. Bitcoin stood out, nearly doubling from 10,000. Meanwhile, leading DeFi token UNI dropped from a low of 8U to over 1U.
In February 2021, Bitcoin was nearing its highest point of 60,000, while Ethereum was still hovering below 2,000. Reviewing the candlestick patterns from that period shows that Ethereum doubled from 2,200 to over 4,000 in just two weeks.
We must recognize one thing: Bitcoin determines the overall trend of the crypto market, but! The rhythm and lifecycle of altcoins differ from Bitcoin.
If you firmly believe in a bullish trend, you must pay attention to the best buying points that have emerged in the last half month!
Currently, the overall market trend is still in a state of oscillation and bottom-finding. The closer BTC gets to 90,000, the greater the opportunity. If the market remains strong during this period, there is a high probability of a bullish monthly close, with the best buying point likely to appear before the 31st; if it is weak, the best buying point may appear in early January! Patience is key, as the main upward wave is still ahead!
With Bitcoin's independent decline, has a new journey for the crypto market begun? Buy four cryptocurrencies with the potential to increase by 50 times!
ENA
Ethena Labs recently partnered with World Liberty Financial (WLFI), a decentralized finance program supported by elected President Donald Trump. The focus of this collaboration is to enhance the liquidity of stablecoins while increasing user rewards on the WLFI platform. A key element of this partnership is a governance proposal aimed at integrating Ethena's stablecoin sUSDe as the primary collateral asset in WLFI's Aave-supported protocol.
Meanwhile, the price of Ethena's native token ENA has experienced fluctuations. The current trading price of the ENA token is between $1.05 and $1.10, stabilizing around $1.04 after a brief drop.
This collaboration is likely to benefit both parties. Including sUSDe as collateral could attract a wider user base to the WLFI ecosystem, thereby enhancing its liquidity.
ALU
ALU is attracting attention as it prepares for a significant bullish breakout. Altura is a blockchain project focused on powering games and NFTs through smart NFTs (dynamic, upgradeable NFTs that can change attributes based on predefined conditions).
Key factors driving the bullish outlook for Altura include:
AI toolkit release: Altura recently launched a new AI toolkit that has generated excitement and reignited investor interest.
Bullish candlestick chart pattern: On the 4-hour candlestick chart, ALU is forming a descending wedge pattern, which is a classic bullish indicator suggesting an imminent breakout.
Price target: Analysts predict that ALU may reach a local new high of $0.2 in the short term. Long-term forecasts indicate even greater potential, with the market cap possibly soaring to $1 billion.
AAVE
The decentralized money market protocol Aave was the best-performing project of the day, with AAVE rising by 12.4% in the past 24 hours.
The token's market cap has surpassed $5 billion, with trading volume increasing by over 64.30% in the past 24 hours, confirming a rise in trading activity for the token.
There is no specific reason behind the price surge; the increase is part of a broader recovery in the DeFi sector. Strong technicals and retail buying have also supported AAVE's price movement.
This altcoin has broken through the support level of $298, and analysts predict that if Bitcoin consolidates in the coming days, its price will rise, potentially breaking its historical high as early as Q1 2025.
RAY
The native tokens of decentralized exchanges are also among the beneficiaries of the DeFi market rebound.
The Solana-based DEX has seen significant activity due to meme coins, leading to a surge in the price of RAY.
Tokens launched on the popular meme coin deployer Pump.fun have contributed to this increase in activity.
Pump.fun allows users to create meme coins on the Solana blockchain, and once the market capitalization of the tokens reaches $69,000, liquidity will be automatically added to Raydium.
The significant surge in meme coin activity has driven increased trading volume on Raydium, enhancing the platform's fee revenue and staking rewards for RAY holders, thereby incentivizing more traders to buy and stake altcoins.
With the booming popularity of meme coins, analysts expect the hype to continue, driving more demand for RAY and potentially pushing its price higher.
