Altcoins Fall: Will Ethereum And Solana Bulls Surpass Expectations?

Altcoins Fall: Will Ethereum And Solana Bulls Surpass Expectations?
фото показано с : newsbtc.com

2024-3-16 19:00

After a six-week run, altcoins are cooling off, leading some to fear the worst. However, in a post on X, one crypto analyst urges calm, saying the dip is a normal part of any bull market and may even present opportunities for discerning traders and investors.

Altcoins Drop, Follow Bitcoin

After posting solid gains and rallying to as high as $73,800 on March 13, Bitcoin edged lower on March 14 and continues under pressure when writing. Considering the positive correlation between Bitcoin and altcoins, leading altcoins like Ethereum, XRP, Cardano, and Solana retraced slightly. 

Related Reading: Bitcoin Crash Triggered By Failed $1 Billion Hedge Fund Spread Trade: Expert

When writing, Ethereum is far from the $4,090 recorded last week. At the same time, the Solana uptrend has slowed, with $200 proving elusive for optimistic traders. Meanwhile, XRP, despite the high optimism when prices roared higher on March 11, is struggling for momentum and is currently trending lower.

While the altcoin has been drawn down, the total crypto market cap drop and fear creep in have caused the analyst to remain bullish. Despite the correction, the altcoin uptrend remains, and most coins, including Ethereum, Solana, and Cardano, could post more gains. 

Ethereum, Solana, and BNB Fundamentals Are Solid

To illustrate, the crypto community remains upbeat because of Dencun and its potential to enhance Ethereum and the broader layer-2 ecosystem. Ethereum rollup platforms, including Base and Optimism, that have activated Dencun features have seen decentralized applications (dapps) launching on their platforms benefit. 

Uniswap Labs, the team behind Uniswap, a leading decentralized exchange, reported that transaction fees on users trading on Optimism have fallen even further after activating Dencun. This reduction in fees may be a catalyst to drive more activity on-chain, propping up prices.

On the other hand, Solana bulls are upbeat. Since September 2023, SOL has been on a sharp uptrend. At spot rates, the coin roared to register fresh 2024 highs. 

With this performance, Solana outperforms Bitcoin and other altcoins, including ETH. CoinMarketCap data shows that SOL has risen by 15% in the past week, closely trailing BNB, the native currency of the BNB Chain ecosystem.

Analysts are looking at the upcoming Firedancer upgrade to fortify Solana’s infrastructure further and increase reliability. Meanwhile, regulatory developments in the United States are evolving positively, propping up altcoins, mainly BNB. 

Overall, the crypto uptrend remains even with prices cooling off. More importantly, even with falling prices, sentiment remains bullish. In the past week, CoinMarketCap data shows that the Crypto Fear and Greed Index is at “extreme greed” territory.

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altcoins dip part saying calm crypto analyst

Источник: newsbtc.com

altcoins dip → Результатов: 126


Фото:

Cryptocurrency News Roundup for March 23, 2020

Following a brief dip below $6,000 on Monday, Bitcoin once again anchored itself around the mid-$6,000s by the end of the day. Nearly all major altcoins have followed suit by staying green. Compare that to the 3% drop in S&P 500 on Monday, which has further shaken investors’ confidence after last week’s 15% plunge, and […] The post Cryptocurrency News Roundup for March 23, 2020 appeared first on BeInCrypto.

2020-3-24 09:58


Tezos, Chainlink continue positive trend as Ethereum Classic struggles near critical support

As Bitcoin's dominance took a dip, altcoins have posted major gains. Many lesser-known altcoins breached significant resistance levels as they rallied. As market observers anticipated for an alt-seasoThe post Tezos, Chainlink continue positive trend as Ethereum Classic struggles near critical support appeared first on AMBCrypto.

2020-2-16 19:30


Altcoins Daily Preview: NEO and Monero Top Performer, Every Dip a Buying Opportunity

Latest NEO News By adding 20 percent early this week, NEO has the attention of traders. This addition is surely a ray of hope for holders who saw NEO prices drop 95 percent from 2017 peaks. Read: Russia to Buy Billions of Dollars Worth in BTC Next Month, Russian Economist Says The ecstasy is waning […] The post Altcoins Daily Preview: NEO and Monero Top Performer, Every Dip a Buying Opportunity appeared first on Ethereum World News.

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