Altcoins
The three major altcoins set to skyrocket
Explosive earnings ahead: Concerns are growing over a potential further decline in the price of Bitcoin. On June 26, the price of Bitcoin dropped to $61,000, further alerting investors. Analyst Altcoin Buzz has taken in his latest analysis and asked “Are we on the verge of a bigger drop in Bitcoin price?” In the meantime, he said that three altcoins look ideal for bigger rallies and have huge potential.
Coin 1: Ondo
The analyst speculated that Ondo may soon experience a price rally. This follows earlier expectations that Ondo would hit a new all-time high and dominate the market after its price hit $1.48 on June 3. Contrary to these predictions, Ondo’s price has since fallen 18% from its peak. For Ondo, recent developments indicate that a bullish prediction may come to fruition.
Currently, Ondo’s realized market cap is $1.15 billion. This metric is crucial in identifying accumulation and distribution regions. If the realized market cap is higher than the market cap, it usually signals a potential price decline. Currently, Ondo’s market cap is $1.7 billion, which indicates that the lower realized market cap supports a bullish outlook for the price.
Coin 2: Near the protocol
Near Protocol, launched in 2018, is gaining traction with its growing network activity in the first half of the year. Recent data suggests that Near is on the verge of a breakthrough in user adoption and public attention. The growing network activity is also reflected in the volume of assets entering versus leaving the network. Sustained net bridging inflows generally indicate growing user confidence and optimism in the future of the network.
Coin 3: On
Sui, a layer 1 blockchain, recently partnered with Copper, a leader in digital asset custody. Copper’s expertise is expected to streamline asset management and security on Sui, starting with native tokens such as the Ando USD Yield (USDY) stablecoin. This partnership aims to address the specialized needs of institutional finance, including efficient treasury operations and the expansion of financial activities within the blockchain.