Institutional Demand Sparks a Fresh Rally: Top Altcoins Worth Considering

The first phase of the altseason recently came to an end with a frenzy surrounding meme coins on different layers one and two, aiming to stimulate on-chain activity. Despite Bitcoin’s dominance showing signs of rallying to 60 percent, crypto investors have remained focused on the altcoin market in search of maximum gains.

Additionally, both TOTAL3 and TOTAL2 have undergone a 30 percent correction following their impressive pump in the first quarter of 2024. Therefore, it is reasonable to assume that most altcoins that have not yet reached the price discovery phase will soon retest their all-time highs.

You have successfully navigated through the first major correction of the bull market for altcoins. In the previous cycle, we witnessed three such corrections, and in the cycle before that, there were even more. It may take some time to recover, but the outlook for new highs in the coming months appears promising.

Bitcoin’s dominance is expected to reach historical lows as institutional investors, particularly Chinese investors through Hong Kong, show increased interest in the Web3 industry. Notably, the ETH/BTC pair has been forming lower lows on the weekly timeframe, accompanied by a rising divergence in the Relative Strength Index (RSI).

Altseason is set to begin after the Bitcoin Halving. Therefore, it is advisable to hold onto your Altcoin bags with patience and avoid panic selling, as the Altseason is yet to come.

For every investor, it is wise to consider Ether-based DeFi tokens, meme coins, RWA-based altcoins, and GamiFi projects in the Toncoin ecosystem. Tokenizing real-world assets has brought about a revolution in global finance through the use of smart contracts, which is a rarity in the Bitcoin ecosystem.

While the altcoin market is extensive, certain projects generally present higher return on investment opportunities. Altcoins with Bitcoin pairs trading at their bear market lows are expected to experience significant growth in the coming months.

Some of the altcoins with strong fundamentals that are currently retesting historical lows against BTC pairs include Chainlink (LINK), Polkadot (DOT), Ripple-backed XRP, and Filecoin (FIL).

Tags:
Altcoins
Bitcoin
Price Analysis