ETH shows strong momentum; is a season of altcoin rallies approaching? Which track projects will stand out?
In recent days, ETH has not fallen with BTC. It started to rise significantly last night, nearing $3,700, reminiscent of the market conditions of 2020-2021.
At that time, BTC first started a major upward wave, while ETH fluctuated and rose slowly, then the roles reversed, with ETH taking the lead in a significant rise, and violent upward waves emerged in various tracks.
History may not repeat itself simply, but it has immense reference value.
Despite the essential differences from 2021, such as the Fed not injecting liquidity and limited availability, BTC may maintain FOMO sentiment, and ETH continues to rise. Which track projects are worth paying attention to?
First, let's look at the Ethereum ecosystem:
Once again, multiple popular tokens are making their debut!
Including:
- ENS (Ethereum Name Service): soared over 53% in a single day, becoming a leader among the top 300 tokens by market cap. This token was also discussed by Sweet Sister yesterday.
- Puffer (Ethereum Liquidity Re-staking Project): Prices skyrocketed by 60%.
- EIGEN (the native token of the Ethereum re-staking project EigenLayer): increased by 25% in a single day, breaking through $4.10, just under 10% away from its all-time high, currently reported at $3.77.
- INST, ENA, etc.: also performed well and became new favorites for investors.
Ethereum's strong return and the explosive potential of related ecosystem tokens should not be underestimated; the market may soon welcome a frenzy of altcoins!
- MEME Track:
Focuses on new MEME projects that have already launched on major exchanges like Binance. Based on historical experience, there will continue to be speculation, and market makers need to leverage market hype to profit.
Of course, older MEMEs still hold opportunities, but specific position allocation is up to you to manage.
Don't forget that an amazing new MEME was born at the end of 2023, and the Bitcoin surge to $73,700 also gave birth to an amazing new MEME on Binance spot. It is likely that new amazing MEMEs will continue to emerge on major exchanges.
- Public Chain Track:
In every major upward wave, public chains have never left the table. SOL, INJ, TIA, SUI, SEI, etc., there are many.
Especially in the past year or two, new public chain projects launched on major exchanges like Binance, such as OMNI, have increased significantly in the past few days. As for the opportunities in older public chains, SOL, INJ, ADA, etc. can be focused on.
- AI Track:
The wave at the beginning of 2023 saw a significant uplift in AI-related projects in the crypto market.
Then, from the end of 2023 to early 2024, crypto projects related to AI such as FET, and even those slightly related to AI like WLD and ARKM, are expected to see significant increases.
And this wave, recently AI-related projects are hot; I don't need to elaborate further.
- L2 Track
Since related projects in this track landed on major exchanges like Binance, the real speculation happened during the ETH narrative upgrade and then again from the end of 2023 to early 2024. The increases of ARB, OP, etc., during that time should still be fresh in everyone's memory.
Moreover, it also requires a significant increase in ETH, so this track should focus on leading projects with strong narratives.
The market has new tracks and new narratives, which should be closely monitored.
Exciting news!
Musk has entered the gaming track, benefiting the entire gaming sector, while also introducing new ideas by incorporating AI.
The AI + blockchain gaming sector stands to benefit the most, and it hasn't started yet, so one should pursue it without hesitation; the odds of betting right are still relatively high.
➜ $VIRTUAL
▶ Market Cap: $885 million
▶ 24-hour trading volume: $131 million
The heat of the AI track is evident; it has become a narrative consensus throughout the year.
The traffic heat of the Base chain, combined with reliable AI projects, may create new opportunities.
Recently, the Virtual Protocol on Base chain saw its token VIRTUAL rise by 10.8% in the past 24 hours and 106.1% this month, and the protocol itself is one of the few serious AI projects on Base.
➜ $SAND
▶ Market Cap: $1.446 billion
▶ 24-hour trading volume: $808 million
The Sandbox ($SAND), as one of the pioneers of the metaverse, has recently performed brilliantly. Despite encountering market volatility earlier last week, falling 17%, $SAND began to rebound after stabilizing at the Fibonacci support level of $0.3245.
➜ $VSG
▶ Market Cap: $56.9392 million
▶ 24-hour trading volume: $2.7391 million
Vector Smart Gas is a layer 1 network recently launched on the Ethereum blockchain, focusing on decentralized finance (DeFi) and the tokenization of real-world assets (RWAs).
Its native token VSG is one of the hottest altcoins today, primarily due to its price increase.
In the past 24 hours, the price of VSG has risen by 49%, and it has accumulated an increase of 550% over the past 7 days. This development may also be related to the popularity of the token on TikTok, which has increased demand.
➜ $UXLINK
▶ Market Cap: $10.4 million
▶ 24-hour trading volume: $232 million
UPBIT was the first to discover its potential: it has a real user base, genuine user volume, trustworthy partners, and stable revenue sources. As a leader in the social domain, $UXLINK's position in the market is increasingly solidified.
From the current perspective, $UXLINK's circulating market value is only $100 million. The project is reliable, compliant, has been building continuously, and has a very community-oriented token distribution, making it suitable for long-term participation in the ecosystem!
➜ $THE
▶ Market Cap: $17.8 million
▶ 24-hour trading volume: $3.467 billion
THE is an innovative decentralized exchange (DEX) and liquidity layer built on the BNB chain, aiming to fundamentally change the DeFi ecosystem.
By providing a permissionless, user-friendly platform, THENA can realize seamless token swaps, yield farming, and liquidity provisioning for various assets.
Circulating supply of 76.58 million, circulating market value of $13.8 million. Based on circulating market value, it is considered undervalued. The contract went live at 8:15 PM last night! #山寨币走势展望 #币安HODLerTHE
