While Bitcoin has been trading sideways, its dominance in the crypto market is losing major support and may have peaked. With the surge in altcoin dominance, investor sentiment appears to be shifting from Bitcoin to altcoins.
This shift is largely due to the partial approval of Spot Ethereum exchange-traded funds (ETFs) in the US, signaling the start of an altcoin season. Once the S-1 filings are fully approved, expected in early July, the market is likely to take off, presenting an opportunity to stock up on promising altcoins.
Although not everyone considers this a proper alt-season, crypto analyst Lark Davis believes we are on the verge of one. He has highlighted the top 5 altcoins to buy now to capitalize on this altcoin rally.
Top 5 Altcoin To Buy
Jupiter (JUP) – JUP is an Ethereum token powering the Jupiter Project, aiming for blockchain accessibility and security. Despite a 4.00% decline in 7 days, outpaced by the market’s 1.60% drop, analysts have observed a recent price increase over the last 2 days, signaling the upcoming rally.
Aerodrome (AERO) – Positioned as a centralized exchange within the Base ecosystem, with aspirations to become its leading decentralized counterpart. Historical price analysis, combined with BTC halving cycles, suggests a potential surge towards $3.5. As of now, it is trading at $1.13 reflecting a 2% drop.
Subsquid (SQD) – A blockchain indexing solution, that makes blockchain data accessible for developers. It’s gaining attention from major investors and stands to benefit from growing demand. However, analysts predict a 228.90% price surge to $0.483455 by July 2024. Currently, sentiment is bullish, with the Fear & Greed Index at 73 (Greed).
Oasis (ROSE) – A layer-one blockchain prioritizing scalability and privacy, catering to finance and AI applications. Recent predictions by Changelly expect ROSE to surge to approximately $0.0532. Currently trading at $0.1011, with a slight 24-hour increase, reflecting a market cap of 6.7 billion.
Fantom (FTM) – Despite current price fluctuations, experts anticipate an average FTM rate of $0.28 by 2024’s end. Minimum and maximum prices may range between $0.19 and $0.23. Presently, FTM hovers at $0.87, boasting a market cap of $2.3 billion. Despite this, trading volume has surged by 176% to $214 million.
As Bitcoin’s dominance wanes and altcoin sentiment strengthens, the market gears up for a potential altcoin season. However, this suggests that altcoins could soon be on the radar as they show promising signs of a future price rally.
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