Connect with us

Altcoin

Is Altcoin Season Over? Data Shows Alarming Trends

Published

9 months ago

on


It is no longer news that the altcoin season of this cycle has failed to materialize despite clear signs at some point.  Amid this seemingly bullish cycle, recent data shows that there has been a shift that may send the anticipation into extinction.

One of the criteria for the altcoin season was the approval of the spot Ethereum ETFs. Now that it has happened, altcoins have remained mute. Will this remain the case going forward?

Altcoin Season Continues to Show Why It May Not Come Soon

Altcoins appeared to have resumed their uptrend sometime ago. However, that widespread climb did not last. Altcoin Season Index, at that time, had a reading of 33. 

To validate the season, the index has to reach 75, implying that at least 75% of the top 50 non-Bitcoin (BTC) cryptos are outperforming the number one coin.

At press time, the index is 18, a rating it last reached on June 20 and before that — November 2023. This decline implies that altcoin has found it challenging to perform better than BTC, which has been able to reclaim $70,000 lately.

Read More: What Is Altcoin Season? A Comprehensive Guide

Altcoin Season Index
Altcoin Season Index. Source: Blockchaincenter

This decline could be attributed to the lack of investor interest in several altcoins. If interest continues to wane, then demand may be difficult to find. In turn, this could cause prices to keep swinging sideways or lower while the altcoin season fades.

Despite the underwhelming conditions of these cryptos, some market participants believe that the season will appear. One of those confidence about it is Ty Blackard, co-founder of Magnify Labs, a decentralized credits market.

Do Altcoins Still Need Ethereum’s Firepower?

According to Blackcard, the market will move to the altcoin season once ETH surpasses its all-time high.

The market is about to pivot into gas token/altcoin season as $ETH crosses over ATH. Memecoins will still be around, of course, but the narratives and meta will shift to tokens with more “utility” or “fundamentals. Blackard stated.

However, a thorough examination of the altcoin market shows that, with or without ETH, altcoin season can come to pass. This is the inference BeInCrypto got after examining the TOTAL2 and TOTAL3.

TOTAL2 is the total market cap of the 125 altcoins excluding BTC. TOTAL3, on the other hand, is the market cap of altcoins excluding ETH, as well as BTC. From the image below, we observe that the trend of both market caps is similar.

Read More: 11 Cryptos To Add To Your Portfolio Before Altcoin Season

TOTAL2 vs TOTAL3 altcoin season market cap
TOTAL2 vs TOTAL3 Market Cap. Source: TradingView

Therefore, Ethereum’s price may not matter in the grand scheme of things for the altcoin seasons as it did in 2021. However, there is a chance for altcoin prices to pump if capital gained from BTC flows into the sector. If this happens, then the chances of the season this cycle will increase.

Disclaimer

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.



Source link

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Altcoin

PumpFun Moves $13M SOL To Kraken as Solana Price Consolidates, What Next?

Published

3 hours ago

on

April 21, 2025

By


PumpFun has transferred 95,934 SOL, worth approximately $13.34 million, to Kraken, further adding to the total 1,818,889 SOL moved to the exchange in 2025, equating to around $324.06 million.

This move marks a continued trend of significant activity surrounding Solana (SOL), reflecting growing investor interest. As SOL consolidates its price following recent bullish trends, this development raises questions about the potential direction of the cryptocurrency.

PumpFun Whale Activity and SOL’s Recent Performance

According to blockchain data provider Lookonchain, PumpFun’s recent deposit adds to a growing list of whale activities. So far, in 2025, the total SOL moved to Kraken by PumpFun alone exceeds 1.8 million, highlighting a considerable volume of transactions. Solana’s price has shown notable strength, especially in light of recent whale movements, which tend to indicate investor confidence.

Solana’s price has recently cleared significant resistance levels, with many analysts suggesting the cryptocurrency is in a strong upward trend. A crypto analyst, Ted, has pointed out that the SOL price is showing bullish signs similar to the Q4 of 2022.

ImageImage

Ted suggests that SOL could see price levels between $160 to $180 by May 2025, with the potential for an all-time high later in the year. As whale activity continues, these predictions may influence market sentiment further.

Institutional Interest in Solana Surges

Institutional players’ participation is another factor that gives optimism to the SOL’s bullish run. Another player in the game is Galaxy Digital, though it has recently started making major withdrawals, pulling out about $77m worth of SOL from exchanges starting mid-April.

This also involved a substantial $19.5 million sell-off from Binance, showing faith in Solana’s potential. Other market players, such as Janover, also bought over $10m worth of Solana, validating the optimistic forecast for SOL price.

Such actions from institutional investors are usually viewed in the market as strong signs of confidence. Based on Galaxy Digital’s withdrawal, it could be estimated that large investors are preparing for higher SOL gains, which underlines the upbeat sentiment in Solana price. This increase in institutional support could enhance the overall market sentiment and help SOL rise in the short run.

Growing Number of Large Solana Holders

In addition to institutional interest like PumpFun’s, large retail investors are also becoming more active in Solana. Analyst Ali Martinez reported that the number of wallets holding 10,000 or more SOL increased by 1.53% in the past week.

This uptick, which grew from 4,943 wallets to 5,019, suggests that bigger holders are accumulating more Solana quietly. Such accumulation often occurs before broader market recognition, which can lead to price rallies.

This pattern of increasing wallet activity from significant holders further points to confidence in Solana’s potential. If these large investors continue to increase their positions, the demand for SOL could continue to rise, creating upward pressure on its price. The accumulation could be a sign that some are positioning themselves ahead of a potential breakout in price.

SOL Technical Analysis and Price Forecasts

The recent movement in Solana price has caught traders’ attention, with some analysts forecasting a continued rise. Another crypto analyst, Learnernoearner, suggested that an inverse head and shoulders pattern may be forming, indicating a potential long-entry opportunity.

ImageImage

If Solana price experiences a brief pullback, this could provide an attractive entry point for traders.

Key technical levels for SOL price include support at $125, immediate resistance at $135, and a breakout zone at $178. If SOL price breaches the $178 mark, further targets could include $199, $216, and $238, and some even suggest a rally to $2000.

✓ Share:

Kelvin Munene Murithi

Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.

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.





Source link

Continue Reading

Altcoin

Ark Invest Gains First Exposure to Solana With 3iQ ETF Bet

Published

4 hours ago

on

April 21, 2025

By


Ark Invest, the asset management firm owned by Cathie Wood, has gained its first exposure to Solana as the broader financial market expands its adoption of cryptocurrencies. The firm has added exposure to two tech investment vehicles via the 3iQ Solana Staking ETF (SOLQ). Market analysts believe this move validates SOL, a front-runner for spot altcoin ETF in the US.

The Ark Invest Solana Exposure

According to the Citywire report, the ARK Next Generation Internet ETF (ARKW) and ARK Fintech Innovation ETF (ARKF) have SOLQ in their respective portfolios. These Cathie Wood’s funds bought 237,500 shares of SOLQ apiece, validating the Solana fundamentals.

Canadian regulators approved the 3iQ SOL ETF for trading earlier this month, alongside other crypto funds from Purpose, Evolve, and CI. These ETF products went live on schedule on April 16, placing them in line for mainstream exposure.

As Ark Invest revealed in its press release, the Solana architecture and its design for speed and efficiency make it ideal for the next generation of the internet. With the bet, the Cathie Wood firm has made history as the first U.S.-based ETF to gain exposure to Solana.

Beyond Ark Invest and Solana: Portfolio Diversification Goes Mainstream

Asset management firms are shifting toward crypto products, a move beyond ARK and SOL. As CoinGape reported earlier, Charles Schwab has revealed plans to launch crypto trading later this year. The firm, with $10 trillion in assets under management, may add more credence to the nascent asset class if it pulls through with its plans.

Under President Donald Trump, the improving crypto regulation landscape has given asset managers like Ark Invest the long-sought leverage to bet on the market. The precedent was set earlier with spot Bitcoin and Ethereum ETF approval in 2024.

With key agencies like the Securities and Exchange Commission (SEC), Commodity Futures and Trading Commission (CFTC), and Federal Deposit Insurance Commission (FDIC) now aligned to crypto, more firms may soon join the diversification move.

Crypto ETFs and Role In TradFi Embrace

Despite the generally positive regulatory environment, many traditional financial firms are still skeptical of direct exposure to crypto. While many, like Ark Invest, do not mind the volatility, custody remains a major challenge.

More relatable products like Spot XRP ETF have been lodged with the SEC to mitigate this. With asset managers going all out in their bid, Solana, Hedera, Litecoin, and Dogecoin, among other assets, are also awaiting potential approvals from the SEC.

While the market regulator was skeptical of these kinds of products in the past, it now takes a different stance. Market experts expect approval before the end of this year.

✓ Share:

Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

Follow him on X, Linkedin

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.





Source link

Continue Reading

Altcoin

Analyst Reveals How High XRP Price Can Go If This Happens

Published

5 hours ago

on

April 21, 2025

By


XRP price seems to be headed for a dramatic turning point, with various analysts citing bullish chart patterns that indicate a probable price spike over the next few months. The fourth-largest crypto is showing a strong technical setup on the 6-month candle chart, with formerly limiting resistance points now eliminated.

XRP Price Displays Eliminated Resistance And Bullish RSI

Technical analyst Dark Defender has posted a tweet that shows a 6-month candle chart indicating these “Eliminated Resistance” levels and a “Bullish RSI” (Relative Strength Index) indicator. The chart indicates that XRP has broken above significant historical resistance levels that previously capped price action.

Several price targets have emerged from analysts tracking the cryptocurrency. The analysts’ projections range from approximately $3.75 to over $18 in the coming months. Despite these bullish technical signals, sentiment indicators remain cautious, and the Fear & Greed Index shows a reading of 39. This places it in the “Fear” category.

The 6-month candle chart for XRP/USD shared by analyst Dark Defender highlights two key technical factors that could support a potential price surge. First, the chart identifies multiple “Eliminated Resistance” levels that XRP has now cleared. This removes previous price ceilings that constrained upward movement in past cycles.

These eliminated resistance zones appear at different points on the historical chart, with the most recent breakthrough occurring in the latest completed candle. According to Dark Defender, this technical development raises an important question for traders: “Is it Bullish or Bearish in the next 6 months?” The analyst indicates that the present candle will close at the end of June 2025, giving the traders a time frame for possible price action.

The second important technical signal highlighted is a “Bullish RSI” reading. The Relative Strength Index, at the lower part of the chart, is shown to be on the rise, moving into bullish levels above the 70 level. This momentum indicator shows increasing buying pressure behind XRP’s recent price action.

XRP Could Soon Hit $5

CryptoBull analyst provides additional technical analysis, labeling the pattern as a massive bullish falling wedge with an even larger bullish triangle encompassing the wicks. The analyst predicts a breakout from the patterns and a target price that could see XRP go as high as $5 before finally landing at a base of $3.85.

There have been suggestions by analysts about specific price targets for XRP in their outlook. Dark Defender shared short-term to medium-term target prices of $3.75, $5.85, and a wildly high target at $18.22.

CryptoBull offered a more detailed price action prediction and indicated that XRP is going to breakout in the near future with price action that can include a wick up to $5 and close around $3.85.

Amidst these modest predictions, certain analysts even predicted the XRP price to reach $280. Another analyst, Captain Faibik, instructed followers to continue purchasing XRP. He further added that the next increase will be “explosive” to the $5 level in the mid-term. Multiple analysts in agreement at the $5 level indicate it might be a key target for traders and investors.

Though analysts are optimistic, the prevailing mood in the market is cautious. CoinCodex indicates their latest forecast predicts that XRP could drop by 8.35% to $1.95 on May 21, 2025. CoinCodex also predicts that XRP had 13 days of gain in the previous 30 days (43%), and price activity has averaged 7.48% in the last 30 days.

✓ Share:

Vignesh Karunanidhi

Vignesh Karunanidhi is a seasoned crypto journalist with nearly 7 years of experience in the cryptocurrency industry. He has contributed to numerous publications, including WatcherGuru, BeInCrypto, Milkroad, and authored over 10,000 articles

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.





Source link

Continue Reading

Trending

Copyright © 2024 coin2049.io