Altcoin
Crypto Analyst Recommends 10 Safe Altcoins Now
Mystery of Crypto, a popular analyst and cryptocurrency veteran, identifies ten altcoins with strong potential amidst the prevailing uncertain market conditions.
The crypto market is actively recovering from Monday’s shock, leading some to believe this is a good time to buy promising assets.
Altcoin Picks for Optimal Performance Amid Market Jitters
Amidst market fears, the crypto industry recorded over $1 billion of liquidations. It marked the biggest collapse a single day after the FTX scenario in November 2022. Spotting them for stability and growth prospects, the analyst identifies ten altcoins that are safer bets during uncertain market conditions.
Toncoin (TON)
Toncoin is the first choice, given the number of decentralized applications (DApps) built atop the network. These DApps span gaming, social, and DeFi, among others, and have recorded significant user growth over the last six months.
Based on DefiLlama stats, TON blockchain records over four million daily transactions. Latest data shows that it has a total value locked (TVL) above $560 million, a 20% growth since Monday, adding credence to the analyst’s selection.
Read more: 6 Best Toncoin (TON) Wallets in 2024
Solana (SOL)
Solana secures the second place in the list due to its strong performance in 2024. The analyst highlights its key features: high scalability and low transaction fees, making it a compelling choice. Strong interest from developers and institutions also supports SOL’s position as a top-tier altcoin.
Recently, Solana outperformed Ethereum in weekly revenue. More closely, it remains the most preferred blockchain for memecoin traders, which positions SOL for performance. There are also prospects for a Solana ETF, which continues to provide tailwinds for SOL.
Arbitrum (ARB)
Arbitrum is a key player among Ethereum’s Layer-2 (L2) scaling solutions, boasting over 408,000 daily active users. Data shows that its TVL is above $2.5 billion, higher than Polygon (MATIC), Optimism (OP), and other L2s.
After its Kwenta launch and Orbit expansion, Arbitrum delivers a top-tier trading interface and is frequently praised for the best perpetuals user experience in DeFi. This, coupled with the backing of Pantera Capital, positions ARB for good performance, according to Mystery of Crypto.
Ondo Finance (ONDO)
Ondo Finance features on the list of multiple analysts, including AltcoinDaily, with both citing its ability to turn RWAs into digital tokens.
The network’s strong partnerships with BlackRock and Coinbase Ventures also make strong fundamentals for the project. Moreover, the Pyth Network launched a USDY/USD price feed in collaboration with Ondo Finance, which adds to the list of project fundamentals.
Read more: What is Tokenization on Blockchain?
Near Protocol (NEAR)
According to the analyst, the Near Protocol is known for resilience and innovation. Its developer-friendly platform continues to attract more projects, and it has an $800 million ecosystem fund to seed and support new projects.
It boasts the highest daily active users among L1 scaling solutions, only second to Solana, which positions NEAR to do well in uncertain market times.
Mantra (OM)
Mantra meets the analysts’ bar, given its move to enhance Ethereum functionality and promote accessible financial services. Given the growing interest in real-world asset (RWA) tokenization, it is also positioned for good returns.
The project launched Season 2 of 50,000,000 OM GenDrop, whereas the dYdX ecosystem added OM to its chain, bringing new exciting opportunities. Further, with more than $50 million OM tokens staked, the reduced supply increases the chances of further upside for OM tokens.
EtherFi (ETHFI)
EtherFi is a leading restaking platform running on Ethereum. The project recently released Season 2 claim checker, distributing more than 53 million ETHFI tokens worth approximately $100 million.
Its participation in the rewards model, which promises even more exciting opportunities for users, could drive more interest in the ETHFI token. Moreover, the project also has Cash, a mobile wallet with Visa credit card integration.
Read more: Ethereum Restaking: What Is It And How Does It Work?
Polygon (MATIC)
The Polygon blockchain collaborates with Axie Infnity’s Ronin Network via its Polygon Chain Development Kit. Given its essence as a scaling solution for Ethereum, more than 17,800 DApps are actively running on Polygon. It is popular among DeFi and NFTs projects, with 35 million MATIC tokens allocated for its ecosystem projects.
Render (RNDR)
Render is one of the AI crypto coins with decentralized GPU network services, which makes it essential for gaming and movies. Recent social dominance, active addresses, and whale transaction metrics have been at a six-month peak amid AI hype, making RNDR a potential big shot.
Arweave (AR)
Arweave has been demonstrating its strength in the blockchain industry. This network provides permanent data storage, with users leveraging it to store data for a one-time payment. Over one petabyte of data is stored on the Arweave network, which connects individuals needing storage with those with hard drive space.
The project announced a 100% fair launch for its new token with no pre-mine or pre-sales. This, coupled with its recent partnership with InQubeta, a blockchain firm that enhances technology, makes AR a coin to watch.
Mystery of Crypto also highlights Chainlink (LINK) as a potential big shot, citing its launch of a digital assets Sandbox for tokenization trials. Its partnerships with technology giants like Google and Oracle make LINK a good choice.
Nevertheless, traders must not rely solely on analyst predictions. Conducting one’s own research is always advisable.
Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.
Altcoin
Why Bitcoin Users Are Moving to Altcoins? As Ethereum Price Jumps 11%
Although the Bitcoin price rally has paused above $75,000 a day after Donald Trump’s victory, altcoins have continued their strong show with the Ethereum price taking the lead with 11% gains all the way to $2,850 levels. Investors have a lot of questions as to does this mark the beginning of the much-awaited altseason moving ahead.
Altcoins Steal the Limelight from Bitcoin?
On the day of Donald Trump’s victory on November 6, the Bitcoin price touched its all-time high levels surging all the way to $75,000. While the bulls try to defend these levels, altcoins seem to grabbing the investors’ focus.
The Ethereum price has managed to pull off 12% gains moving all the way to the $2,850 level and eying further rally to its all-time high levels. This comes despite strong selling pressure from Ethereum whales. Popular crypto analyst IncomeSharks noted that the ETH price has given a crucial breakout from the downward trendline slope, which opens the gates for a 75% rally from here to new all-time highs.
$ETH – Breakout. 75% move from here to an all time high. $3k first. pic.twitter.com/29KJzgk4Ex
— IncomeSharks (@IncomeSharks) November 7, 2024
Furthermore, after hitting the lower lows over the past few months, the ETH/BTC trading pair has notched up a bit. “With ETH/BTC at 0.035 it definitely makes sense to start hedging,” added Cowen. However, he added that for the bottom formation confirmation, the ETH/BTC pair must end above the 50 DMA.
I would watch #ETH / #BTC here.
If it can get above the 50D SMA, the there is a good chance that ETH/BTC has bottomed. pic.twitter.com/dXNYj2sDvY
— Benjamin Cowen (@intocryptoverse) November 7, 2024
Apart from Ethereum price surge, other altcoins like Solana made strong gains on Donald Trump’s victory. The Solana price has surged to $188 once again as talks about the approval of spot Solana ETF in the Trump presidency gain traction. As a result, analysts predict an SOL surge to $300 levels from here.
Will BTC Lose the Grip Over the Market?
Some market analysts state that it is still early to call the altseason and expect Bitcoin dominance to grow even further. Also, this could just be the beginning of the next major Bitcoin bull run.
Veteran trader Peter Brandt shared an optimistic outlook for Bitcoin, suggesting it has entered a “sweet spot” in the current bull market halving cycle. According to Brandt, Bitcoin is on track to peak between $130,000 and $150,000 by August or September of next year, marking a potential new high for the cryptocurrency.
Echoing similar thoughts, crypto analyst Ali Martinez noted that the next BTC top usually happens after 8 to 12 months following a monthly close above the previous all-time highs. Thus, he expects the next BTC top to happen anywhere between July to November 2025.
Historically, #Bitcoin has reached market tops roughly 8 to 12 months after achieving a monthly close above its previous all-time high.
If this pattern continues, the next potential market top for $BTC could occur between July and November 2025. pic.twitter.com/aWBZDBpUea
— Ali (@ali_charts) November 6, 2024
According to blockchain analytics firm CryptoQuant, Bitcoin’s recent all-time high doesn’t signal an overvaluation relative to its cost basis. The firm’s data on the MVRV ratio suggests that BTC remains well below peak levels. Additionally, Bitcoin’s price is close to traders’ average purchase cost, indicating that the market is not currently overheated. These insights point to the potential for continued growth in Bitcoin’s value.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Altcoin
XRP Price At Risk As Ripple Moves $250M?
The XRP price has come under the spotlight following Ripple’s recent $250 million XRP transfer. This comes amid bullish predictions for the coin, with analysts saying that its price could enjoy a parabolic rally following Donald Trump’s win.
The XRP Price At Risk With Ripple’s $250 Million Transfer
The XRP price is at risk of a decline following Ripple’s transfer of $250 million worth of XRP to an unknown wallet. Onchain data shows that the crypto firm transferred 470 million XRP to this wallet (rP4X2…sKxv3). This unknown wallet has since transferred 100 million XRP to another wallet (rhWt2…E32hk).
The purpose of the $250 million transfer remains unclear. However, it could relate to Ripple’s On-Demand Liquidity (ODL) services or the ongoing SEC appeal case.
This development comes just a day after XRP whales moved $814 million, indicating whale accumulation. While the Ripple transfer is unlikely to impact the XRP price since it will likely be done over the counter (OTC) if it is a potential sale, it could still create a bearish sentiment among XRP investors.
However, crypto analysts are confident that XRP is currently in bullish territory following Donald Trump’s win in the US presidential elections. The coin could surge up to 3,336% as crypto analyst StephIsCrypto predicted a major above $2 following Trump’s victory.
A Price Surge Above $20 By Year-End
In an X post, Crypto analyst Amonyx made a bold prediction, stating that the XRP price will rise above $20 by year-end. In another X post, the analyst suggested that he was confident that this price surge would happen with the US SEC chair Gary Gensler set to be removed following Donald Trump’s victory.
Gensler’s removal is bullish for the XRP price because he has spearheaded the long-running legal battle against Ripple. The legal battle could have negatively impacted XRP all this time, creating doubts in investors’ minds.
However, with Gensler gone and the Ripple SEC lawsuit likely to end, investors could again become bullish on XRP and look to invest more in the crypto. Crypto analyst Ross Vandermeer also predicted that the XRP price could eventually rise to $1,000 thanks to Donald Trump’s US election victory.
Ripple CEO Brad Garlinghouse recently called on the US president-elect to fire Gary Gensler on day 1, just like he promised. Meanwhile, Ripple chief legal officer (CLO) Stuart Alderoty urged Trump to end the regulation-by-enforcement approach to position the US as the crypto capital.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Altcoin
Ripple CLO Reveals How Donald Trump Can Make US The Crypto Capital
Ripple chief legal officer (CLO) Stuart Alderoty has revealed how US President-elect Donald Trump can make the United States (US) the crypto capital. The Ripple CLO statement came as Ripple CEO Brad Garlinghouse outlined his checklist for the Trump administration.
Ripple CLO Reveals How Trump Can Make US Crypto Capital
In an X post, Stuart Alderoty called on Donald Trump to move swiftly to end the regulation-by-enforcement approach that the crypto industry has endured and position the US as the crypto capital of the world.
As the Ripple CLO suggested, the US has been unable to claim the title of crypto capital due to its unfavorable regulatory environment. Regulators like the US Securities and Exchange Commission (SEC) have clamped down on crypto firms instead of providing regulatory clarity.
However, the Ripple CLO believes that is likely to change under Donald Trump. In his post, he also revealed that the president-elect had taken time to listen to Ripple’s story when they met and has also prioritized crypto as a key policy issue.
Indeed, the US president-elect was very vocal about crypto during his presidential campaign, making several promises to the crypto industry. As part of his promises regarding Bitcoin and the crypto industry, Donald Trump said he would fire US SEC Chair Gary Gensler on day one in office.
This is one of the major promises the crypto community is holding on to, considering that Gensler has spearheaded the anti-crypto crusade in the country.
Brad Garlinghouse Outlines Checklist For Donald Trump’s Administration
Before the Ripple CLO’s comments, Ripple CEO Brad Garlinghouse had outlined his checklist for the Trump administration’s first 100 days in office. First, he stated that Trump should fire Gensler on Day 1, just as promised.
In Gensler’s place, Garlinghouse recommended that the president-elect appoint either Christopher Giancarlo or Robinhood CLO Dan Gallagher, as they will be “massive upgrades” in rebuilding the rule of law at the SEC. Galaxy CEO Mike Novogratz also recently mentioned pro-crypto US SEC commissioner Hester Peirce as one of those who could also replace Gensler.
The Ripple CEO also asked Trump to get the US Congress to move the digital asset market structure bill forward in the Senate. Lastly, he asked if they could get some clarity for Ethereum, similar to that of Bitcoin and XRP since they are recognized as non-securities.
While Brad Garlinghouse didn’t endorse any candidate, Ripple CLO Stuart Alderoty and Ripple co-founder Chris Larsen made their stance known through donations. The Ripple CLO donated $300,000 to the Donald Trump campaign, while Larsen donated up to $11 million to Kamala Harris’ campaign.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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