With Bitcoin breaking through $60,000, altcoins are about to recover. In the past few months, despite the market trend fluctuations, altcoins have been slow to start, which is mainly due to frequent unlocking. The most prominent ones are OP, ARB, and WLD, which were once popular, but have become abandoned coins at the moment. There is also the delisting at any time, which has a negative impact on the trend of altcoins, but altcoins with narratives have still made some steady progress. After cashing out and locking in huge profits in March, the market has experienced a series of losses. The star coins INJ, TIA, and METIS in March have experienced several months of deep corrections and have returned to their original positions. However, since August and September, the trend has changed. The market value of altcoins has soared from about $152 billion to nearly $170 billion, setting higher lows, which is an important indicator of an upward trend.
Although the dominance of Bitcoin and Ethereum has always been regarded as a measure of the strength of the crypto market, the emergence of spot ETFs and the launch of new coins have completely changed the crypto market landscape in 2024, but the recent performance of altcoins shows that investors are beginning to explore new investment strategies. As the market matures, this growing attention to altcoins may herald a broad shift in investor behavior and lay the foundation for the upcoming altcoin boom.
