Old altcoins, why have they suddenly surged collectively?
In the past couple of days over the weekend, there hasn't been much activity in the market, with Bitcoin and Ethereum fluctuating slightly. But what was surprising is that some old altcoins, such as XRP, HBAR, ADA, and EOS, actually surged over 30%!
It seems that Bitcoin's spotlight is being overshadowed, and altcoins are starting to shine. As long as Bitcoin remains stable, altcoins will take turns to rise joyfully.
Why are these old altcoins performing so well? Isn't it because of Trump's policies helping out! He wants to exempt cryptocurrencies issued by American companies from taxes, so Americans holding these coins won't have to pay taxes on their earnings. Coins like ADA, ALGO, XRP, HBAR are all from American companies; how could they not be popular?
On Coinbase, XRP's trading volume shot straight to the top, leaving BTC, ETH, and DOGE behind; the enthusiasm of Americans is truly unstoppable! XRP's market cap also hit a new high, returning to the top three, and I've heard they are going to issue a new stablecoin.
Then there's XLM, this old project from 2014, which had a terrible drop over the past four years, but in the last three weeks, it has almost risen back to its historical high.
Looking at this trend, when Ethereum rises, funds flow into altcoins. If you already have some altcoins, don't rush to swap them; they might all take turns to rise.
Previously, altcoins were not popular because there wasn't much money in the market. But now, with the Federal Reserve cutting interest rates, there's more money, and people are trading all kinds of coins. However, picking these projects also requires insight.
The hottest trades right now are newly launched meme coins and revitalized old coins. Because the supply pressure is low! Personally, I am more optimistic about new projects, like ACT, new track, new story, the imagination space is limitless.
If you were a major player, which one would you pump? The already overbought old coins, or the new projects with unlimited potential?
Be careful when choosing old altcoins, especially those that have dropped over 90%, as they have a lot of trapped funds and limited imagination space. This time, the major players might be taking advantage of Trump's favorable policies to pump and dump, we need to see if they can continue to be hot, or else we might end up being the bag holders again.
When choosing old coins, if it's a DeFi project, if the data isn't as good as before, then it's very difficult for the market cap to exceed the peak, so caution is necessary. The same goes for public chain projects; if they missed the meme craze, and still use old data for evaluation, it will be hard for the market cap to hit new highs. The market has lost its expectations for these old projects.
