Altcoin massacre Analyst points out coin that has outperformed Ethereum amidst steep altcoin declines

The mood surrounding altcoins remains cautious, despite Bitcoin edging closer to all-time highs and the resurgence of meme coins. Retail interest in altcoins has been lackluster, with a noticeable decline in crypto YouTube views compared to the previous bull run, signaling reduced retail engagement.

The current market cycle has been predominantly influenced by the Bitcoin ETF narrative, with a shortage of broader market catalysts for altcoins. While sectors like meme coins, AI, and RWAs (Real World Assets) have seen strong performance, major altcoins have fallen behind.

In the midst of these concerns, popular analyst Altcoin Buzz shared in his latest video that TON, The Open Network associated with the messaging app Telegram, is gaining traction in the market. TON’s daily active addresses have surpassed those of Ethereum, driven by Telegram’s massive user base of 900 million users.

According to on-chain data, TON has consistently outperformed Ethereum in terms of daily active addresses since early June. On June 3rd, TON reached a peak of 568,830 daily unique addresses, significantly higher than Ethereum’s 351,000. Additionally, on May 17th, TON’s daily transaction count hit a year-to-date high of 9 million, compared to Ethereum’s 1.1 million on the same day.

On the other hand, analyst Miles Deutscher sees potential in the Real World Assets (RWA) sector and plans to accumulate ETH and other altcoins. He advises taking a medium to long-term perspective (6-12 months or more) to navigate market volatility and capitalize on low volatility periods to accumulate strong altcoins.

Specifically, Deutscher is targeting Mantra at its current level around $0.85, with a high range of $0.75, as well as the Deepin sector, which shows promise due to innovative projects and connections to AI narratives. He also includes meme coins in his strategy, despite recent dips. Key coins like Pepe and Whiff, with support levels at $0.11 and $2.26 respectively, are seen as opportunities for accumulation, with expectations of higher valuations in the current cycle.