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Top Analyst Confirms Altcoin Season, What’s Next for XRP, SOL, HBAR, and SHIB?

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2 months ago

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The crypto market cap hits a new all-time high (ATH) today, surpassing the $3.50 trillion landmark. The Altcoin Season Index by platforms including Blockchain Center and CoinMarketCap indicated the market has entered altcoin season, with confirmation from one of the top analysts Markus Thielen, CEO of 10x Research. With Bitcoin price in consolidation mode, crypto such as HBAR, XLM, XRP, SUI, ALGO, and OM have led the rally in the last 3 months. Bitcoin dominance has dropped to 53.80% today.

Altcoin Season Driving Rally in XRP, SOL, HBAR, SHIB

The crypto market is witnessing a FOMO and panic simultaneously, reports 10x Research on December 4. Top analyst Markus Thielen confirmed that altcoin season has priced-in and the trend will sustain and potentially expand trading opportunities.

Besides, several altcoins have climbed in the altcoin season rally after Bitcoin retraced from the $99,700 range. BTC price now exchanged hands at $96K. HBAR has recorded an over 600% rally, XLM and XRP followed with over 500% and 400% price growth in the last 90 days.

Notably, the Altcoin Season Index has hit 86 today, signaling a massive sentiment towards further gains in altcoins. Markus Thielen expects the demand for crypto tokens will likely continue until Donald Trump’s inauguration in January.

Altcoin season indexAltcoin season index
Altcoin Season Index. Source: Blockchaincenter

South Korea Driving the Altcoin Season

According to 10x Research, retail-focused trading volumes in South Korean crypto market have surged immensely. In the past 24 hours, it surged to almost $34 billion, marking the highest level. This comes as South Korean President Yoon Suk Yeol declared emergency martial law. He now faces impeachment for his decision.

Ripple (XRP) led the trading volume, followed by Dogecoin (DOGE), Stellar (XLM), Ethereum Name Service (ENS), Hedera (HBAR), and Shiba Inu (SHIB). These high-momentum cryptocurrencies are being driven predominantly by retail traders, capitalizing on and reinforcing momentum-driven trends.

What’s Ahead For XRP, SOL, HBAR, and SHIB?

The market rotation for Ripple XRP surge shows no signs of slowing down, said Markus Thielen. He added that the rally stands out as “one of the most extraordinary developments in the crypto market this year.”

Further, XRP market cap has now surpassed $150 billion to become the third-largest crypto. This explosive move followed a breakout from a long-term triangle pattern, catalyzed by the U.S. election.

XRP priceXRP price
Source: 10x Research

As altcoin season has arrived, Ethereum and Solana are likely to drive the crypto market again. However, the current trends indicate rotation to XRP and other breakout crypto.

Ethereum price will gradually surpass the $4000 level if it breaks above $3800 resistance. On the other hand, Solana price will rally toward $400 and $600, as per crypto analysts.

HBAR price trades at $0.329, down 5% in the last 24 hours. The trading volume has decreased by 33% amid profit booking by traders. However, traders are bullish on Hedera amid multiple partnerships and developments amid altcoin season. HBAR price is anticipated to hit $0.57 next year.

Shiba Inu price jumped 4% in last 24 hours, with the price currently trading at $0.00003039. The trading volumes on both spot and derivatives market have surged in the last 24 hours.

Shiba Inu lead developer Shytoshi Kusama spotlighted upcoming dog-themed meme coin SHIFU coin launch. He also hinted at the TREAT token launch near Christmas. The developments could further trigger a rally in SHIB prices.

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Varinder Singh

Varinder has over 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently leading the news team to cover latest updates and developments in the crypto industry.

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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VTHO Price Rockets 300% As Binance Reveals Support For VeThor Token

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23 minutes ago

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January 22, 2025

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VTHO price has skyrocketed 300% after Binance announced its support for VeThor Token. Simultaneously, the token’s trading volume also surged by an astonishing 86,000%, reaching $3 billion. This massive rally reflects the strong influence of the top crypto exchanges in the market and how the listing or any other positive developments impact the sentiments.

Notably, VTHO token is used as gas within the VeChainThor ecosystem, further driving the market’s enthusiasm.

VTHO Price Surge After Binance Announces Listing of Perpetual Contract

On January 22, Binance listing announcement showed that the exchange plans to list VTHOUSDT perpetual contract on its futures platform, offering a maximum leverage of 75x. This new trading option has caught the attention of traders, contributing to a massive spike in VTHO’s trading volume.

Meanwhile, VTHO is the secondary token in the VeChainThor ecosystem, primarily used as the gas for transactions within the network. This listing expands Binance’s support for the VeChainThor blockchain, enabling users to trade VTHO with increased leverage. The contract’s capped funding rate is set at +2.00% / -2.00%, with funding fees settled every four hours, giving traders more flexibility.

Notably, the 75x leverage allows traders to maximize their exposure to VTHO price movements, further intensifying the market’s focus on the VeThor Token. The move by the top crypto exchange to offer such high leverage and favorable funding rates is a clear indication of its confidence in VTHO’s potential.

Binance’s Multi-Assets Mode and Trading Rules

Binance’s Multi-Assets Mode allows users to trade the VeThor token perpetual contract across multiple margin assets. This feature enables traders to use other cryptocurrencies, such as BTC, as collateral when trading VTHO contracts.

Multi-Assets Mode supports greater flexibility, giving users the ability to diversify their margin options for more efficient trading strategies. Recently, Binance expanded support for TRUMP and several other tokens, fueling optimism about future price movements.

The rules for Multi-Assets Mode include applicable haircuts on collateral, ensuring the safety of user assets. It is particularly useful for those who hold large amounts of various cryptocurrencies and wish to leverage them for high-leverage trading opportunities.

VeChain and VTHO Price Surge

VeChain (VET), the blockchain powering VTHO, has experienced notable growth, rising by 11% in the past 24 hours. VET price now trades at $0.05, and its market cap has reached $4.06 billion. This rise is attributed to VeChain’s increasing adoption and its partnerships with major corporations, including Walmart China and BMW.

VTHO price today jumped 320% and exchanged hands at $0.0087, indicating a growing interest in the VeChainThor ecosystem. With a market cap of $744 million, VTHO has seen an 86,000% increase in trading volume, reaching $3.11 billion. As the blockchain industry continues to innovate, VeChain’s supply chain solutions and VTHO’s integral role are poised for continued success.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

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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Shiba Inu Burn Rate Spikes 600% Indicating SHIB Breakout Ahead

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1 hour ago

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January 22, 2025

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In what comes as a bullish market event, the Shiba Inu burn rate skyrocketed 600% on Wednesday, sparking immense optimism among traders amid a broader sector recovery. Recent burn data indicated that over 3 million tokens were taken out of the meme coin’s circulating supply. As an upshot, crypto enthusiasts expect a massive SHIB breakout ahead, driven by supply reduction and the community’s recent advancements.

Shiba Inu Burn Rate Blows Over 600% Echoing Bullish Market Sentiments

According to the latest data by Shibburn, the Shiba Inu burn rate shot up nearly 613% on January 22, dealing a massive blow to the circulating supply. Per the data, the massive burn rate surge came against the backdrop of 3.24 million tokens sent to a null address, thus permanently removing them from the supply.

Shiba Inu Burn Rate Shiba Inu Burn Rate

For context, the SHIB burn mechanism is designed to reduce the crypto’s market supply, which many believe to be the reason behind the dog-themed meme coin’s broader sluggish performance. Thereby, with the abovementioned burn rate surge weighing in, traders and investors anticipate price gains for the crypto asset in light of the law of supply and demand.

Community Developments Add To Market Optimism

Further, a stockpile of ecosystem developments in recent days appears to have additionally bolstered the market sentiment for Shiba Inu amid its burn rate surge. CoinGape reported that SHIB lead developer Shytoshi Kusama stated a “big week” lies ahead for the meme token. This statement has sparked market-wide speculations of a looming advancement for the coin’s community.

Moreover, with American billionaire and investor Mark Cuban lauding SHIB’s potential recently, market watchers are extensively eyeing the crypto with bullish long-term views. Particularly in light of the community’s long-term goals and support, Cuban finds the meme coin to be one of the few promising projects in the sector. Overall, the Shiba Inu burn rate surge and these developments have solidified investors’ sentiments of a looming breakout, further driven by the recent pro-crypto Donald Trump frenzy.

What’s Next For SHIB?

At the time of reporting, SHIB price witnessed a 4% uptick in value, reaching $0.00002054. The coin’s 24-hour low and high were $0.00001983 and $0.00002127, respectively.

Notably, the coin rises alongside the intraday Shiba Inu burn rate surge and positive market sentiments building against the backdrop of Trump’s win and meme coin sector recovery. After a waning action yesterday, DOGE, PEPE, and TRUMP, among other meme coins, witnessed a remarkable upswing.

In light of this recovery-like trend, crypto enthusiast ‘VipRoseTr’ revealed on X that a $0.00004029 price target is ahead for the asset. Also, a recent Shiba Inu price analysis by CoinGape further cements the chances of a breakout approaching, as the coin showcases the potential to gain 100x this year.

Shiba Inu burn rate SHIB priceShiba Inu burn rate SHIB price
Source: Rose Premium Signals, X

This bullish prediction comes riding the back of strong market technicals and price patterns, flagging that a potential run to $0.00003340, followed by the March 4 high of $0.0000455, is possible. However, the $0.00001565 support remains extensively eyed by market watchers, given the crypto realm’s dynamic nature.

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

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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World Liberty Financial On Tron Buying Spree, 100% TRX Price Rally Ahead?

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2 hours ago

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January 22, 2025

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Donald Trump’s DeFi project World Liberty Financial is on a Tron buying spree after loading up on Ethereum earlier this week. In the last few hours, the project spent a total of $2.65 million USDT stablecoin to load up its TRX holdings. As a result, the TRX price is seeing a strong 5.76% surge amid fresh buying interest for the altcoin.

World Liberty Financial Accumulates Tron (TRX)

World Liberty Financial, the Donald Trump-owned DeFi project, has been aggressively expanding its crypto holdings with fresh Tron purchases. Data from Arkham Intelligence shows that the project has recently spent 2.65M USDT to acquire 10.81M TRX.

Following the current acquisition, the DeFi project holds a total of 30.11M $TRX, valued at $7.38M. The latest purchase by the DeFi project comes following massive Ethereum purchases earlier this week.

Source: Arkham Intelligence

Additionally, on-chain data shows that World Liberty swapped 5,252 ETH, worth 17.43M, for stETH, and later staked it with Lido Finance. Over the past three days, the fund has invested a total of $168.4M in six tokens.

This includes $99.95M in Ethereum, $47M of WBTC, $7.35M in Tron (TRX), and another $4.7M each in AAVE, ENA, and LINK. Interestingly, World Liberty Financial has increased its positions in every token except ONDO, reported Spot on Chain.

World Liberty Financial on Tron Buying Spree, 100% TRX Price Rally Ahead?World Liberty Financial on Tron Buying Spree, 100% TRX Price Rally Ahead?
Source: Spot On Chain

Justin Sun Celebrates the Development

Tron founder Justin Sun celebrated this development while making big investment promises moving ahead. In his message on the X platform, Sun noted:

“Bought again! TRON has now become the 3rd largest asset held by World Liberty Financial, the president’s crypto project, with a current holding of $7.3 million TRX”.

Furthermore, Sun made big investment promises while commenting on Eric Trump’s post. Earlier today, Eric Trump noted that there’s no better time to invest in the United States and invest across sectors like technology, innovation, and crypto. Responding to this Sun said:

“Fully agreed! We have an outstanding plan that will bring over $200 billion worth of business to the United States. This will be massive and meaningful!”

Tron founder Justin Sun is himself one of the early investors in World Liberty Financial. Earlier this week, he expanded his investments into the DeFi project by acquiring WLFI tokens and taking total investments to $75 million.

TRX Price to Rally 100% From Here?

As of press time, the Tron price is trading 5.7% up at $0.251. As per the Coinglass data, the Tron futures open interest is up 14% to $258 million hinting bullish sentiment among traders.

The TRX price has been trading within a broad descending channel for the past several weeks, following a sharp rally to $0.45 in December. This price action has resulted in several swing highs and lows, indicating a battle between buyers and sellers.

On the RSI, there is a hint of a potential bullish divergence. A falling wedge pattern is emerging, suggesting a possible upside breakout. Additionally, Fibonacci retracement levels point to a potential move toward $0.30 at the 0.50 RSI level and $0.33 at the 0.382 RSI level. In his recent analysis, crypto analyst AMCrypto stated that the TRX price could reach as high as $0.50 by the end of Q1.

Source: TradingView

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

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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