Bitcoin has fallen below the $64,000 mark, while altcoins like Fantom, Stacks, and Arweave are gaining traction as promising investment options for the upcoming altcoin season. Increased interest in alternative cryptocurrencies has revived investor confidence, leading them to actively review and revise their portfolios.
FTM (FTM)
FTM’s native token FTM saw a 190% print run in the last month, making it one of the leading non-memecoin altcoins on the market. The token’s value surged from $0.40 to $1.16, giving it a market capitalization of $3.29 billion, ranking it 44th among all coins. Additionally, FTM has also shown positive performance, trading significantly above the 200-day simple moving average.
Additionally, its closing price has been in the green on 18 of the last 30 days. This surge is driven by the upcoming Sonic update, which is designed to change the speed of transaction processing on the Fantom blockchain. Tested on a testnet, Sonic achieved remarkable results, processing up to 2,000 transactions per second.
Likewise, its finalization time is 1.1 seconds, exceeding the capabilities of the current Opera mainnet. At this point, investors are watching FTM move, with growing expectations and positive market sentiment evident in its trading performance. As the Sonic update generates interest, FTM is positioned as a standout asset in the cryptocurrency market.
Stacks（STX）
The Stacks community gave the green light to the Satoshi upgrade, attracting interest from cryptocurrency investors. The upgrade is designed to enhance network capabilities. In light of this announcement, the value of STX increased. Stacks has surged 17.34% in the past 24 hours, surpassing even Bitcoin. Likewise, it outpaced 71% of the top 100 crypto assets last year, indicating a strong upward trend.
It is worth noting that the focus of Satoshi Nakamoto’s upgrade is to improve network efficiency. It places special emphasis on Bitcoin block times and the Maximum Extractable Value (MEV) associated with Bitcoin transactions. By reducing the possibility of transaction manipulation, miners and validators are expected to easily earn rewards, thereby enhancing the integrity of the network.
Additionally, technical indicators show Stacks trading well above the 200-day simple moving average, indicating bullish sentiment. The project has shown continued upward momentum, with 16 green days in the last 30 days, accounting for 53% of the period.
ICP（ICP）
Internet computers have steadily increased in value and have shown resilience amid market fluctuations. ICP has experienced a commendable surge over the past 24 hours, rising by 7.20%. Currently priced at $13.22, ICP is well positioned relative to leading cryptocurrencies such as Bitcoin and Ethereum.
Additionally, ICP’s performance relative to the 200-day simple moving average (SMA) is impressive. Currently, ICP is trading 42.32% above its 200-day moving average, which is actually above its long-term average.
Price action aside, sentiment surrounding ICP price forecasts leans towards a bearish outlook. Additionally, the Fear and Greed Index reading has dropped to 75, with investors in HODL mode. This means that despite the pessimistic outlook, investors are optimistic about returns soon.
By delving deeper into its fundamentals, Internet Computer stands out with its unique proposition of hosting social networks and other services entirely on-chain. This highlights its potential to shape the decentralized future of the web, in keeping with the ethos of Web3.
Arweave（AR）
Arweave has attracted considerable attention due to its current market performance. Its gains over the past year have been impressive, surging 302% and outpacing 81% of the top 100 coins, including Bitcoin and Ethereum.
Trading above its 200-day moving average, Arweave is exhibiting positive performance trends compared to its token sale price. Arweave has 17/30 green days, showing consistency in its upward trajectory.
Sentiment surrounding Arweave is bullish, with a Fear & Greed Index reading of 75. For clarity, this score indicates a widespread sense of greed among investors. At the same time, this optimism is not unfounded, given Arweave’s strong base and enthusiastic community support.
Arweave’s potential will grow significantly, especially if the project announces collaborations with other networks. This partnership could push AR Coin’s price above $32.35 by 2024, a significant leap from its current valuation.
Optimism（OP）
In the first week of March, OP announced a private token sale involving approximately 19.5 million OP tokens, worth approximately $89.5 million. The news attracted a lot of attention, but the market reaction was surprisingly mixed.
Optimism’s price fell from $4.67 to $4.19, a decrease of 10.28%. This trend continued the following week, with OP trading at $3.335, indicating a downward trend. However, there are signs that the situation may be reversing.
Recent market data points to a positive turn for the Optimism cryptocurrency, with OP up 2.33% intraday and approaching near-cycle highs of $3.60. OP has been trading above its 200-day simple moving average, indicating underlying bullish momentum. And, over the past 30 days, OP has experienced 15 green days in which the daily close exceeded the daily open.
Despite recent setbacks, OP's sentiment has been bullish, with a Greed score of 75. Furthermore, OP’s upward trend will continue, pushing its price to $8.48 by Q4 2024. This forecast represents a massive 156.97% price increase for OP from the second week of March at $3.30.
