BNB, AAVE expected to outperform the rest in altcoin season

BNB and AAVE are expected to stand out more than many other coins in the upcoming altcoin season, despite the overall situation of the current cryptocurrency market being difficult.

Cryptocurrency market situation- Market Capitalization Decline:

Cryptocurrency market capitalization fell about 1% to $3.33 trillion, but compared to November, the overall decline amounted to 18.33 trillion %. - Selling pressure: Trading volume increased 3.3% in the past 24 hours, reaching $121.84 billion, showing that selling pressure is still present.

Forecast for BNB Possibility of setting a new record:

BNB has set two all-time high records in 2024, reaching $793.86 in December. If this accumulation phase continues, BNB The price could continue to rise and surpass the $800 threshold.

- Upward momentum: Although the market is facing difficulties, BNB still maintains positive factors supporting the upward momentum.

AAVE Outlook Upward price structure: AAVE still maintains its position in the bullish price zone. After an explosive 332.78% increase in January, AAVE reached an all-time high total value locked (TVL) of $23.19 billion in mid-December. Some of the recent decline in TVL still reflects reflects AAVE's overall price increase.

- Continued upside potential: If TVL maintains or continues to increase, AAVE has the potential to extend its upside momentum with support from increasing protocol activity.

Conditions for altcoin season A key factor for altcoin season to take place is the slight decrease in Bitcoin dominance. Currently, Bitcoin Dominance remains high, at 56.94%, suggesting that altcoins will have difficulty shining until this ratio changes significantly.

From the above analysis, BNB and AAVE have reason to be expected to perform well amid the altcoin season, despite current market pressures.