According to Markus Thielen, the Head of Research at 10x Research, savvy traders are shifting their focus from Bitcoin to promising altcoins, and you might want to pay attention. Recent trends show that trading volumes for altcoins have surged as traders look for high-risk, high-reward opportunities amidst changing market dynamics.
Bitcoin Waning Dominance
Since mid-March, Bitcoin has experienced a volatile correction, marked by four lower highs. But here’s the exciting part: if it breaks past $65,000, it could signal a comeback! This might push Bitcoin back to levels over $70,000. Experts believe it could even reach new all-time highs by the end of this year. However, while Bitcoin’s dominance slips, altcoins are stepping up.
Ethereum on the Rise!
Ethereum is another player worth mentioning. Despite facing some challenges, it’s showing signs of recovery with weekly revenues hitting $21 million—the highest since June 2024! This trend could push Ethereum’s price higher, especially as gas fees rise, indicating more network activity.
As Bitcoin fades, cryptocurrencies like Solana and other DeFi tokens are grabbing attention. Traders are now looking closely at speculative altcoins, especially after the recent positive moves since the Fed’s meeting. Here are the top picks you should keep an eye on!
Altcoins To Watch Out For
Meanwhile, Markus Thielen highlights some top altcoins that many savvy crypto traders are accumulating before the altcoin rally begins. Here are they:
TAO
TAO is a decentralized finance (DeFi) app that’s currently priced at $562, showing an incredible rise of 76% in just the last week!
Ethena (ENA)
Ethena is a synthetic dollar protocol built on Ethereum. Though it’s down from its previous high of $1.49, signs of massive growth are emerging.
SEI
SEI tokens let users pay transaction fees on the Sei network. This altcoin has jumped 70% in the last week and is now trading at $0.46.
APT (Aptos)
Aptos is a Layer 1 Proof-of-Stake blockchain for validator staking and governance. It’s currently trading at $8.21, with a recent rise of 4.5% in just 24 hours.
Sui Token (SUI)
Sui is the native cryptocurrency of the Sui network. It’s one of today’s top gainers, up 12.4% in the last 24 hours!
NEAR Protocol
NEAR is a blockchain network that helps developers build decentralized applications (dApps). It has gained 30% in the past week, making it an attractive altcoin to buy.
The Graph (GRT)
The Graph is an Ethereum token that indexes and queries data from blockchains. It’s currently priced at $0.18 and has risen 2% in the last 24 hours.
Don’t miss out on these altcoins—they might just be the next big winners!
