|
|
The market gains of altcoins may soon surpass those of Bitcoin, marking a potential turning point. This shift is attributed to the cyclical nature of cryptocurrency rallies, where Bitcoin typically leads in the initial stages, followed by a period dominated by altcoins. This slump has impacted Bitcoin's dominance, barely maintaining a 50% share. Historically, during the bull markets from 2015 to 2018 and from 2019 to 2022, altcoins often outperformed Bitcoin. Given the current trend and the upcoming Bitcoin halving, some speculate that if Bitcoin fails to regain bullish momentum, altcoins may see even more growth this year.
Against this backdrop, certain altcoins like DOT, RNDR, Uniswap (UNI), and NEAR are expected to bring in returns of 10-100 times during the 2024 bull market, leveraging the dynamic market changes where altcoins may outpace Bitcoin.
DOT:
Polkadot (DOT-USD) stands out due to its unique blockchain interoperability and scalability approach. It allows different blockchains to transmit messages and value in a trustless manner.
There are several reasons why DOT becomes the next-generation cryptocurrency. Firstly, the network is designed around parachains and bridges, addressing some of the most serious issues affecting blockchain networks, such as scalability and security.
Its Layer 0 framework also enables the creation of custom blockchains with significant interoperability. It allows decentralized applications to communicate across different infrastructures.
Lastly, DOT's governance token allows participants to have a say in how the network should be managed and developed, making it one of the most promising next-generation cryptocurrencies.
RNDR:
On January 4, 2024, Render Fund announced plans for incentive token migration. The foundation stated that it would absorb the gas fees for RNDR token holders transitioning to the new RENDER token on the Solana blockchain. The Render (RNDR) plan was launched after the network transitioned from Ethereum to Solana in November 2023. The Render Fund emphasized rewards for token holders transitioning from RNDR to RENDER and allocated 1.14 million RENDER tokens for this plan. According to on-chain data, after the foundation's announcement, Render (RNDR) surged by 13.6%. Unfortunately, price consolidation led to a significant decline in Render (RNDR) prices, dropping from $4.92 to $3.66 between January 4th and January 25th. Market predictions suggest that Render (RNDR) may surge to $4.5 by the end of February. If the Render Foundation implements its token incentive measures, Render (RNDR) is likely to increase investor interest, driving positive market sentiment.
Uniswap (UNI): Robust trading and wallet innovation
Uniswap (UNI) has shown strong performance in trading volume, with the introduction of non-custodial mobile wallets further driving volume growth. This development has had a positive impact on market momentum. Despite these advancements, Uniswap (UNI) still faces resistance at significant price levels, namely $8.1 and $10.69, which it needs to surpass to continue its growth trajectory.
Recently, Uniswap (UNI) has shown signs of recovery, with some forecasts indicating a rise to $11.32 by the end of 2024. The ability of UNI to break through key resistance levels is crucial in determining its future price trajectory.
Looking ahead, Uniswap (UNI) is expected to face a mix of bullish and bearish sentiment. If it successfully overcomes resistance levels, we can expect to see a significant increase in its value. However, failure to do so may lead to a reassessment of its position in the market and could test lower levels of support. The future of Uniswap (UNI) depends on these key market reactions and its ability to capitalize on current momentum.
NEAR:
NEAR Protocol (NEAR) has garnered considerable attention as a top cryptocurrency in the crypto space, operating as a community-run cloud computing platform. While NEAR stands out among most peers, it addresses key limitations in the blockchain space, including poor interoperability, low throughput, and slow transaction speeds.
Despite recent challenging market conditions, NEAR prices have seen significant gains over the past week. In particular, NEAR prices are currently trading between $2.5 and $3.14, up over 25% in just the past week.
If anything sets it apart, it's the current positive momentum suggesting an increase in bullish sentiment among investors. Additionally, it further underscores the need for bulls to regain control of the cryptos, potentially setting new highs.
Bullish dominance is also evident in the relative strength index (RSI) of NEAR Protocol's cryptocurrency. Over the past week, it has broken through the $3 price level, indicating an upward trend. According to price predictions for NEAR Protocol, by the end of 2024, it may reach $5.04 if it breaks through the $4 price barrier. |
|
Post time 14-3-2024 20:43:27
