Altcoins
Amid Drastic Altcoin Drops, Analyst Says This Coin Outperformed Ethereum
Sentiment around altcoins remains cautious and despite Bitcoin As all-time highs approach and meme coins resurgence, retailer interest in altcoins has been muted. Data shows that cryptocurrency-related YouTube views have dropped dramatically compared to the previous bull run, indicating less engagement in retail.
The current cycle has been strongly driven by Bitcoin ETF narrative, while broader market catalysts for altcoins are lacking. Specific sectors such as meme coins, artificial intelligence and RWAs (Real World Assets) have outperformed, but major altcoins have lagged behind.
Amid these looming altcoin concerns, took the Altcoin Buzz analyst to his latest video and said that TON, or The Open Network, associated with the popular messaging app Telegram, is gaining traction in the market. TON’s daily active addresses have surpassed those of Ethereum, driven by Telegram’s huge user base, which boasts 900 million users.
According to on-chain data from, TONNE has consistently outperformed Ethereum in terms of daily active addresses since early June. On June 3, TON’s daily unique addresses peaked at 568,830, significantly higher than Ethereum’s 351,000. Additionally, on May 17, TON’s daily transaction count reached 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 finds the Real World Assets (RWA) sector interesting, with plans to accumulate ETH and other altcoins. He recommends a medium to long-term perspective (6-12 months or more) to weather market volatility and use periods of low volatility to accumulate strong altcoins.
Specifically, it targets Mantra and its current level around $0.85, with a high range at $0.75, as well as the Deepin sector, which shows high potential thanks to innovative projects and ties to narratives about ‘artificial intelligence. Meme coins are also part of his strategy, despite the declines. Key coins like Pepe and Whiff, with support at $0.11 and $2.26 respectively, are accumulation targets, with expectations of higher valuations throughout the cycle.