Tag: ALTCOINS

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Trending Altcoins to Buy Under $50 and Earn 10x Sooner

Trends determine the performance of altcoins as they can increase or decrease their performance. As of now, the cryptocurrency market is no longer in bullish behavior as the fear and greed index has moved to 51, which is about to turn bearish. The global market capitalization fell to $2.34 trillion and the trading volume fell to $56.78 billion, confirming the same.

Under these conditions, trending altcoins are the best profit options. In this sense, we will comment on some cryptocurrencies that usually have a tenfold return in this market.

Fabric (AR)

Arweave has seen gains of 180% since the beginning of the year, even after recently facing significant downward momentum. Despite the barriers, Arweave is on its best performing days in the last three years as it peaked primarily in November 2021, reaching an all-time high of $90.94. As of now, the price of AR is at $27.88 with a market capitalization of $1.8 billion and could rise again depending on its popularity.

Toncoin (TON)

Toncoin is among the most profitable altcoins this year as it has seen gains of 210% so far, taking its value to $8.24 earlier this month. Although the value has decreased, the possibility of it rising again is high due to its link with the popular social media platform Telegram. For now, Toncoin price is at $7.17 with a market cap of $17.6 billion, making it the 9th largest cryptocurrency on CoinmarketCap.

Pendle (PENDLE)

Pendle is now just 18% off the $7.52 ATH hit two months ago, despite the market crash at the time. It is among the least popular altcoins, but has still seen gains of 420% this year. Of them, 19% occurred this week and 4% today. With this, PENDLE is bullish for now and may continue to be bullish as its price has increased to $6.17 with a market capitalization of $955 million.

MAGA (TRUMP) 2942%

MAGA has peaked and is dominating the rest of the altcoins with gains of 2,942% this month. It is a trend due to the increased demand for Trump-themed meme coins in the market due to Donald Trump’s appearances in the news. The increase can continue as long as the price has increased by 13% in the last 24 hours. It is currently trading at $8.06, approaching the ATH of $17.52 set at the beginning of the month.

Trends vary over time and only a few cryptocurrencies can survive the change or whatever barriers the cryptocurrency market maintains. Having a diversified portfolio with long and short term gains and analyzing the market when to buy and when to sell can generate profitable results of 10 times or more.

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Market cap of Bitcoin and Altcoins will reach $1.85 trillion and $2.2 trillion

Amid the current financial scenario, analysts have focused their attention on the cryptocurrency market, which is showing signs of recovery. Michaël van de Poppe, a respected figure in the trading community, recently predicted that the total cryptocurrency market capitalization could rise to a staggering $2.2 trillion. This projection comes at a time when the market is going through a consolidation phase, falling below the crucial mark of 1.6 billion dollars.

The role of Bitcoin in market dynamics

Bitcoin, the leading cryptocurrency, plays a key role in this projected growth. It recently surpassed major resistance at $38,000, prompting optimistic predictions about its future trajectory. Van de Poppe correlates the advance of Bitcoin with the potential increase in the market capitalization of cryptocurrencies. He suggests that breaking through the $1.6 trillion resistance could push the market to pre-Earth collapse levels, targeting the first $1.85 trillion and eventually reaching $2.2 trillion.

Altcoins Preparing for a Milestone

At the same time, altcoins are not far behind in this potential financial revolution. EGRAG, another market analyst, predicts that the market capitalization of altcoins will reach the trillion-dollar mark. This level of growth has not been seen since the collapse of the Terra ecosystem in May.

EGRAG recalls the dramatic decline that followed, falling from $1.268 billion in April 2022 to a low of $485 billion two months later. Currently at a 19-month high of $735.5 billion, the altcoin market is recovering steadily, indicating a possible uptrend similar to the post-May 2022 scenario.

Implications for Bitcoin and Altcoin Valuations

If these predictions come true, the impact on individual cryptocurrencies could be substantial. For Bitcoin, a total market capitalization of $1.2 trillion would mean a price increase to around $61,301 per token. Meanwhile, altcoins could see a 2.3x increase in valuation, reaching as much as $1.7 trillion. This outlook has led analysts to advise investors to watch out for a recovery around March 2024.
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Coinbase Launches Five Ethereum-Based Altcoins In Cryptocurrency Trading Ecosystem

Coinbase, the US-based digital asset exchange, is expanding support for five Ethereum-based altcoins in its trading ecosystem.

In a new blog post, Coinbase announces that Alchemix (ALCX), the government token of the lending platform backed by Alchemix Finance, can now be purchased on Coinbase.com and the exchange’s mobile apps.

The ALCX is trading at $ 441.61 at the time of writing, down 3.18% for the day.

ENS is a government token for the Ethereum name service, which allows people to create non-fungible tokens (NFTs) that can be linked to Ethereum addresses and web domains.

ENS is currently trading at $ 48.82. That’s down 8.71% for the day and more than 50% from the all-time high of $ 88.64 which reached last week after appearing on Binance.

Additionally, Coinbase is expanding support for GALA, the native token of Gala Games, the player-controlled blockchain gaming platform. Altcoin rose more than 100%, from a low of $ 0.089 on November 15 to its current price of $ 0.20.

GYEN is an Ethereum-powered stablecoin indexed to the Japanese Yen. Although GYEN is expected to remain pegged to the Japanese Yen, it managed to climb 470% to $ 0.05 after being listed on Coinbase.

Finally, the native POWR token from point-to-point energy trading company Power Ledger is now available on all Coinbase trading platforms. At the time of this writing, altcoin was down 2.07% to $ 0.70.

Coinbase Pro listed all tokens except GYEN with stablecoin mStable USD (MUSD) earlier this week.