Why do I keep saying there will be an altcoin season?
Looking back at the last bull market from 2020 to 2021, Bitcoin rose from the end of September 2020 to December 2020, while all DEFI coins were in correction, and most altcoins were basically stagnant. Bitcoin stood out, rising from 10,000 to nearly double. Meanwhile, the DeFi leader UNI dropped from a low of 8U to over 1U.
In February 2021, Bitcoin approached the highest point of 60,000, while Ethereum lingered below 2000. You can review the candlestick chart of subsequent trends; Ethereum doubled from 2200 to over 4000 in just two weeks.
We must recognize one point: Bitcoin determines the overall trend of the crypto market, but! The rhythm and lifecycle of altcoins differ from Bitcoin.
If you are firmly convinced of a bullish trend, you must pay attention to the best buying points that have emerged in the past half month!
Currently, the overall market trend remains in a state of fluctuating bottoming, gradually probing the bottom during the fluctuations. The closer BTC gets to 90,000, the greater the opportunity. If the market remains strong during this period, it is highly likely that the monthly line will close bullish, with the best buying point expected to appear before the 31st. If the market is weak, the best buying point may occur in early January! Be patient and wait for opportunities, the main upward wave is still to come!
Bitcoin's independent decline, has a new journey in the crypto space begun? Buy 4 cryptocurrencies that are expected to rise 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 partnership 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 main collateral asset for WLFI's Aave-supported protocol.
Meanwhile, the price of Ethena's native token ENA has experienced fluctuations. The current trading price of ENA is between $1.05 and $1.10, stabilizing around $1.04 after a brief drop.
This collaboration is likely to benefit both parties. Incorporating sUSDe as collateral may attract a broader user base to join WLFI's ecosystem, thereby enhancing its liquidity.
ALU
ALU is drawing attention as it prepares for a significant bullish breakout. Altura is a blockchain project focused on powering gaming and NFTs through smart NFTs (dynamic, upgradeable NFTs that can change attributes based on predefined conditions).
Key factors driving Altura's bullish outlook include:
AI toolkit release: Altura recently launched a new AI toolkit, which has generated excitement and rekindled 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 a greater potential, with market capitalization possibly soaring to $1 billion.
AAVE
The decentralized currency market protocol Aave was the best-performing project of the day, with AAVE rising 12.4% in the past 24 hours.
The market capitalization of the token has exceeded $5 billion, and its trading volume has increased by over 64.30% in the past 24 hours, confirming an increase in trading activity for the token.
There is no specific reason behind the price surge; the increase is part of a broader recovery across 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 expect that if Bitcoin consolidates in the coming days, the price will rise and may break historical highs as early as the first quarter of 2025.
RAY
The native token of the decentralized exchange is also one of 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 the increase in this activity.
Pump.fun allows users to create meme coins on the Solana blockchain, and once the market capitalization of the token reaches $69,000, liquidity will be automatically added to Raydium.
The significant rise in meme coin activity has driven an increase in Raydium's trading volume, boosting the platform's fee income and staking rewards for RAY holders, thereby incentivizing more traders to buy and stake altcoins.
With the booming meme coin market, analysts expect the speculation to continue, driving more demand for RAY and potentially pushing its price higher.
