There has been a remarkable movement in the cryptocurrency market in recent days. According to the analysis of 10x Research Research Director Markus Thielen, veteran crypto investors have begun to turn their eyes from Bitcoin to altcoins. Changing market conditions have motivated investors interested in risky but high-yield opportunities. While interest in altcoins such as SUI coin has been increasing in recent times, significant increases in trading volumes confirm this trend.
Bitcoin’s dominance is decreasing
Although Bitcoin has long been the leading actor in the cryptocurrency market, it has begun to lose its appeal for some investors in recent months. Since mid-March, Bitcoin has experienced a volatile correction, recording four lower peaks. However, there is still hope in the market. If Bitcoin can exceed the $ 65,000 level, experts say this could be a sign of a strong comeback. If such a scenario occurs, Bitcoin’s value could exceed the $ 70,000 level again and even see new peaks by the end of the year.
Despite these positive expectations, Bitcoin’s market dominance continues to weaken. Many investors who invest in Bitcoin have begun to turn their attention to alternative cryptocurrencies, namely altcoins. These new dynamics of the market show that investors are looking for different opportunities.
Ethereum’s rise is eye-catching
Another shining star among altcoins is Ethereum. Although Ethereum has faced some difficulties recently, it has begun to show signs of recovery. The weekly revenue reaching $ 21 million indicates the highest level since June 2024. This trend may be a sign of an upward movement in Ethereum’s price. Increasing gas fees indicate transaction density on the network, which reveals that interest in the Ethereum ecosystem continues to increase. This rise in Ethereum attracts the attention of not only individual investors but also institutional investors. While the increasing activity on the network signals that Ethereum’s value may increase even further, investors are trying to take advantage of this opportunity.
With Bitcoin’s weakening dominance, alternative cryptocurrencies such as Solana and decentralized finance (DeFi) tokens have begun to enter investors’ radars. The positive movements in the crypto market following the latest meeting of the US Federal Reserve (Fed) have further increased the interest in speculative altcoins. Investors are carefully monitoring altcoin projects that are high-risk but also profitable. Markus Thielen states that investors have begun to accumulate some notable cryptocurrencies in the altcoin market.
Investors are following SUI coin and these 6
So, which altcoins are on investors’ radars? Here are some altcoins that Thielen drew attention to and that crypto investors showed great interest in:
- TAO: TAO draws attention as a token for decentralized finance (DeFi) applications. It is currently trading at $562, up 76% in the past week.
- Ethena (ENA): Ethena is a synthetic dollar protocol built on Ethereum. Although it has recently fallen from its peak of $1.49, it is thought to have great growth potential in the future.
- SEI: SEI tokens allow users to pay transaction fees on the Sei network. This altcoin is currently trading at $0.46, up 70% in the past week.
- APT (Aptos): Aptos is a Layer 1 Proof-of-Stake blockchain used for validator staking and governance. It is trading at $8.21, up 4.5% in the last 24 hours.
- Sui Coin (SUI): Sui is a native cryptocurrency of the Sui network. It is among the biggest gainers of the day, up 12.4% in the last 24 hours.
- NEAR Protocol: NEAR is a blockchain network that helps develop decentralized applications (dApps). It has gained 30% in the past week, making it an attractive altcoin for investors.
- The Graph (GRT): The Graph is a token used to query and index data on Ethereum. It is currently trading at $0.18 and is up 2% in the last 24 hours.
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