Fueled by Trump's election as the new president of the United States, the continuous net inflow of Bitcoin spot ETFs, and companies like MicroStrategy increasing their Bitcoin purchases, Bitcoin is experiencing a new round of explosive growth this month, reaching as high as $99,588 this morning (23), only less than $500 away from the $100,000 target.
The overall market trend on Saturday brought strong bullish sentiment globally. Mainstream altcoins such as ADA, XRP, and AVAX all rose by 14%-25%. Especially HBAR and XLM, which performed brilliantly in the past 24 hours, with increases of 25%-55%.
Recently in the market, established currencies like ADA and XRP are leading the rally, seemingly showing signs of recovery, which has led everyone to speculate whether a full altcoin season is approaching?
Currently, the market is still mainly dominated by BTC, and altcoins have not completely taken over. However, the changes in the past 7 days are still noteworthy. The altcoin season index has gradually recovered from a low point on the 17th, jumping significantly to 28 by the 21st, showing that market interest in altcoins is beginning to revive.
This upward trend may indicate that capital is flowing from mainstream coins like BTC into altcoins, especially with the strong performance of established altcoins like XRP and ADA, making this trend likely to continue.
If this trend can be maintained and continues to rise in the coming weeks, the altcoin season may really arrive.
Which sector is about to rise?
Now the rotation has moved to established mainstream cryptocurrencies, such as the recent increases in XRP and DOGE, with Ethereum Layer 2 OP and ARB rising by more than 15%. The next likely candidates are the value mainstream from the last round, like DeFi and the Ethereum series. The weight of the vehicles is a concern, but the core issue is still capital driving the market, because once the fluctuation range is broken, these believers will not easily sell, and the price may instead rise easily.
Yesterday, Ethereum led most altcoins to recover from their declines, but the overall trend remains weak. The meme sector $DOGE and PEPE are starting to gain momentum, and MASK is seeing short-term opportunities. Established mainstream coins like XRP have reached new highs, rising by 25%, indicating that the second exploration market has begun.
1. Meme Sector
-$Doge: Always optimistic and always on board, supported by the Musk effect, with huge amounts of capital pouring in, showing strong momentum.
-$CAT: The only meme token supported by the official Simon’s Cat brand and IP. In the future, $CAT may become the top representative of the cat meme market, ushering in multiple increases in market value.
-$Floki: Celebrity effect, with many fans; holding long-term may bring a return to value. Coinbase is about to launch, expected to garner more market attention and capital inflow.
2. Ethereum Ecosystem
-$Uni: Leading decentralized exchange, stable position, market volatility does not affect long-term potential. The public chain will go live later this year, and node operators need to stake UNI, which will be used as gas for the public chain.
-$Ldo: Unique liquidity mining, low market cap but strong liquidity, worth attention. SSV, Pendle, and other Ethereum ecosystem projects each have their own characteristics, touching on finance and mining.
3. Sol Ecosystem
-$Ray: Decentralized stablecoin protocol, highly competitive, significant growth potential, with new stars in the Sol ecosystem like JUP and JTO, capable of engaging in finance and gaming.
4. AI Sector
-$Fet: Leading decentralized AI data market, strong capabilities, with great growth potential.
-$Arkm: Provides smart investment strategies for the market using AI technology, professional and reliable.
5. Public Chain Sector
-$ADA: One of the representatives of the third-generation public chain, with large inflows; Ada initially surged because the founder had connections with Trump's campaign team. It has broken the $1 mark for the first time since April 2022.
-$Sui: Known for high-performance transaction processing, the Move-based public chain is seeing architectural upgrades and strong growth momentum.
-$FTM: The project team is strong, targeting $0.9.
-$Sei: A Layer 1 blockchain developed through the Cosmos SDK, continuously advancing in technological innovation.
