The altcoin market has seen a revived surge in confidence, thanks to the leading cryptocurrency, Bitcoin. This renewed optimism has led to a bullish trend across the top 100 cryptocurrencies, all influenced by Bitcoin's resurgence.
Nevertheless, the market is currently undergoing a correction as Bitcoin and Ethereum encounter setbacks in breaking upper resistance levels. Despite this adjustment, analyst Miles Deutscher provides insights, pointing out various altcoins that could potentially see substantial gains.
SOL Stands out as a secure haven amidst the correction in the cryptocurrency market.
Solana has shown impressive expansion amid a general market correction. Recording a 0.5% increase in the last 24 hours, SOL's potential for additional upward movement is noteworthy.
According to Deutscher, SOL might continue to capitalize on the ongoing shift of investments from alternative Layer-1 solutions such as Avalanche (AVAX) and Fantom (FTM).
Thorchain (RUNE) has witnessed a notable upward trend, prompting investors to consider purchasing during substantial corrections. The primary decentralized exchange (DEX) on Thorchain, THOR, has also displayed positive movement, reinforcing its growth potential.
Polygon (MATIC) has recently demonstrated strength, sparking discussions in the crypto community regarding a potential zero-knowledge (ZK) narrative. If this narrative materializes, MATIC, as a prominent player, could attract significant positive attention.
In the context of the ZK narrative, altcoins like Dusk Network (DUSK), Loopring (LRC), and Mina Protocol (MINA) stand to benefit. Deutscher suggests that each altcoin brings unique strengths and value propositions, and their performance hinges on the robustness of the emerging ZK narrative.
Soteria (SEI) has garnered notice by entering the top 10 for volume traded by pairs on Upbit. Regarded as a "new coin," SEI shares fundamentals akin to the next altcoin on the watchlist.
Tidal Finance (TIA) is a relatively recent token reminiscent of the early days of Aptos (APT). The market tends to favor novel and innovative tokens, and while TIA's rally may be tempering, it still carries significant potential. With a current market capitalization of $700 million, TIA presents an intriguing opportunity for investors.
Disclaimer on : Do your own research, Not financial Advice
