Is the cryptocurrency market stuck in the ‘calm before the storm’? What happens if Bitcoin hits $70k again? There is a lot of pessimism at the moment, but remember that we are consolidating near record highs. We are on the verge of a breakout and time is ticking.
Industry analysts predict that altcoins will start their rally once Bitcoin starts its uptrend. This pattern is a recurring one: when Bitcoin breaks through its all-time highs, altcoins usually follow with a rise. Analyst CryptoRus took to his latest video and discussed several altcoins with potential to rally. Here is the list:
Coin 1: Tron
Tron is getting a lot of attention because of the large amounts of USDT (Tether) that are being created on the blockchain. Billions of USDT have been mined recently, which usually indicates that big players, or whales, are preparing to make big moves in the market. This could mean that there will be a lot of buying.
Coin 2: Ethereum
Ethereum remains one of the most important cryptocurrencies. One major development is that the amount of Ethereum available on exchanges has dropped to an all-time low. This usually means that people are holding on to their Ethereum and expecting the price to go up. Ethereum is also expanding its ecosystem, with projects like AAVE using new technology to expand their services.
Coin 3: Solana
Solana is a strong competitor in the cryptocurrency market, especially in the decentralized exchange (DEX) space, with 70% of all trading taking place on Solana. It is known for its speed and low usage fees, making it popular among developers and DeFi projects. The popularity of meme coins on Solana is also driving its value upwards.
Coin 4: Avalanche
Avalanche is becoming a big name, especially in the gaming industry. The network is growing rapidly, with millions of new addresses and hundreds of thousands of smart contracts. Like Tron, Avalanche has seen a lot of USDT circulating on its platform, suggesting that big investors are paying attention.
