Altcoins
Bitcoin Dominance Could Break 18-Month Uptrend: Top Altcoin Picks for This Altseason
For the first time in more than a year and a half, Bitcoin’s dominance has waned as Ethereum has given the cryptocurrency market a huge boost. Although the market remained silent after the SEC announced the approval of eight spot ETFs, market experts are optimistic that a great altseason is around the corner.
ETF approval could trigger an altseason as funds begin to flow
The market has not responded to Ethereum ETFs mainly because ETF trading has not started. As confirmed by James Seyffart and Eric Balchunas, Bloomberg Intelligence’s two top ETF specialists, it could take until mid-June for trading to begin.
Once institutional funds begin to flow into Ethereum, experts are optimistic that the altseason will begin. Daan Crypto Trades has She said that BTC’s dominance has already broken its downward wedge, marking the start of the 2024-2025 altseason.
Best Cryptocurrencies to Buy for Huge Returns This Altseason
The approval of its spot ETFs means that Ethereum would undoubtedly be the star of this altseason. However, forecasts from market experts suggest that some altcoins could achieve larger gains. Below are some of the altcoins to watch this altseason based on predictions from market experts.
1. DTX Exchange (DTX)
DTX Exchange (DTX) is an exciting new cryptocurrency trading platform that the market and investors are talking about lately. It stands out from conventional trading platforms by offering them the opportunity to trade more assets than they ever have. On this platform, they can seamlessly trade 120,000 assets ranging from stocks to bonds, commodities and cryptocurrencies from a single account.
It also offers users the ability to access all these to register without having to satisfy lengthy KYC procedures. Furthermore, the exchange platform offers a unique leverage of 1000x, giving users the opportunity to increase their earnings.
DTX has liquidity pools and non-custodial wallets which results in better security, extremely low slippage and super fast transactions. These advanced features ensure that DTX has the ability to compete with other giants in the cryptocurrency exchange market.
This is why its native token, $DTX, was chosen among the best cryptocurrencies for this altseason. The coin’s price has already increased from $0.02 to $0.04 as the exchange’s first round of presale sold out in record time. As the popularity of DTX is expected to increase throughout the year, there is a belief in the community that $DTX can trade as high as $2 before this bull cycle ends.
2. Near Protocol (NEAR)
Near Protocol (NEAR) is among the top altcoins that should be expected during the upcoming altseason due to its relationship with artificial intelligence. Artificial intelligence is one of the three biggest trends in the cryptocurrency market right now and is only expected to increase in the coming months.
Near Protocol’s price fundamental also supports a massive price increase. The crypto analyst known by the pseudonym The Crypto Dog has expected it seems very likely that NEAR will soon reach a new yearly high above $11. Breaking above this level could see the price of the altcoin rise towards $25 for a new ATH this year.
3. Dogecoin (DOGE)
Although the meme coin craze seems to have calmed down in recent weeks, Dogecoin has given the public a preview of what’s to come. First, Dogecoin price started to form the golden cross on the weekly chart. The last time DOGE formed this pattern was in 2021, when DOGE’s price increased by approximately 8,000%.
Popular Chartist Ali Martinez has confirmed that Dogecoin is on the verge of forming a historic pattern. Martinez predicted that the price could reach a new record high above $6. A possible $0.15 to $6 is why DOGE is among the best coins to invest in right now.
4. Ripple (XRP)
It is quite surprising to have Ripple (XRP) here because, this year, it has performed worse than most of the top 10 altcoins. But Ripple CEO Bard Garlinghouse he did not give a ruling the possibility of XRP getting its own ETF. There has also been an increase in institutional investment in Ripple.
Ripple XRP could also target the stablecoin market, which would increase its application. Given all these big events scheduled, market gurus are very optimistic about the price trend of Ripple in 2024. It is almost a consensus that if the SEC battle goes in Ripple’s favor, the XRP coin could reach a new ATH above the 5 dollars in this period. bull cycle.
In short
In each altseason, Bitcoin’s market dominance is reduced as different altcoins grow in size. In this peak season, DTX Exchange, Near Protocol, Dogecoin, and Ripple are the best choices to claim a considerable share of its market dominance. For many savvy investors, the top pick is DTX, as its potential role in the cryptocurrency trading space could cause the price of $DTX to skyrocket this year.
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