As we reported at Kriptokoin.com, Grayscale’s cryptocurrency assets saw a major increase in November. Altcoins such as Stellar (XLM) and XRP in particular provided significant growth in the portfolio with triple-digit gains. Moreover, Grayscale’s market value has increased by more than 85 percent in the last month. However, the fact that BTC’s market dominance has fallen below its two-year support level has raised rumors that the altcoin season has begun.
As Special Investment Opportunities Attract Attention, Stellar and XRP Stand Out
Grayscale’s portfolio growth was highlighted by the 469% increase recorded by Stellar’s XLM token. In addition, XRP also pleased its investors by gaining 262% in the last month. In addition, Decentraland’s metaverse token MANA ranked third with a 105% increase. Thus, these gains made a great contribution to Grayscale’s portfolio. In addition, this growth further increased investors’ interest in altcoins. In particular, the gains recorded by projects such as Stellar, XRP and MANA heralded a major movement in the altcoin market.
Grayscale has reopened the private investment process in 19 of its funds. These funds include popular altcoins such as XRP , Solana (SOL), and Stellar (XLM). In addition, new opportunities such as the Decentralized AI Fund have been introduced to investors. Moreover, this fund includes NEAR, TAO, FIL, RENDER, and GRT tokens. However, Grayscale’s move is aimed at encouraging altcoin investment. The reopening of private investment opportunities is part of Grayscale’s strategy to strengthen its influence on the market. Therefore, these developments provide investors with a wider portfolio diversity.
Is Altcoin Season Coming?
Bitcoin’s market dominance dropping below its two-year support level is a sign that altcoin season has begun. Analysts observe that investors who profit from Bitcoin are turning to altcoins. XRP, Ethereum (ETH) and Dogecoin (DOGE) in particular stand out in this process.
In addition, Ali Martinez predicts that Ethereum will reach $6,000 in the medium term and $10,000 in the long term. In addition, he states that Dogecoin has a potential increase of 2,400%. Moreover, XRP has achieved great success by reaching $100 billion in market value. Analyst Dark Defender said the following about XRP in his statement:
The XRP price may first hit $2.13 and then $5.
XRP and SEC Exchange
XRP has moved up to fifth place in terms of market value, overtaking BNB . In addition, analysts believe that the departure of SEC Chairman Gary Gensler in January will have a positive impact on altcoins like XRP. Moreover, the pro-crypto stance of new presidential candidate Paul Atking will provide significant advantages to the sector. However, interest in the XRP ETF will further support price movements.
Grayscale’s investments and the strong performance of altcoins are a sign of a major change in the market. So much so that it is thought that the altcoin season may have truly begun. However, as we at Kriptokoin.com reported, cryptocurrency markets are risky. Therefore, it is important for investors to do their own research and analysis.
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