Altcoins
Top Altcoins to Watch Before Ethereum ETF Launch
The cryptocurrency market capitalization has risen more than 3 percent in the past 24 hours, settling at $2.5 trillion in early European trading on Tuesday. Bitcoin (BTC) price has increased by around 3 percent over the past 24 hours, reaching $65,000, before dropping towards $64,400 at the time of this report.
As a result, Bitcoin price has regained both the 50-day and 200-day moving average (MA) as crucial support levels. The remarkable rebound in Bitcoin price has brought the entire altcoin sector with it, led by Ethereum (ETH), Solana (SOL), and BNB.
The main reasons why cryptocurrencies have risen
The cryptocurrency market reacted to the recent failed assassination of pro-crypto US presidential candidate Donald Trump. The fear and greed index rose to about 65 percent as the price of Bitcoin surged above $64,000, which signifies greed.
After recording more than $1 billion in cash inflows last week, the United States Bitcoin ETF Spotsled by BlackRock’s IBIT, posted more than $300 million on Monday.
Meanwhile, the US SEC is rumored to have issued several Ether ETF spot issuers given the green light to begin trading by Tuesday, July 23.
Top Altcoins to Watch
The altcoin sector has been a once-in-a-lifetime opportunity for long-term investors in recent months. However, most analysts, led by veteran trader Peter Brandt, believe that the cryptocurrency sector is about to enter its euphoric phase after suffering a 20-40 percent correction in the past four months.
According to cryptocurrency intelligence platform Santiment, traders should pay attention to altcoins with rising address activity to maximize potential returns. Santiment has identified Render (RNDR), Aave (AAVE), and Maker (MKR) as the most promising altcoins with significantly rising address activity in the recent past.
Read also: Ethereum ETF Launch Date Confirmed: SEC Greenlights Trading for July 23