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Throughout the Bitcoin bull market, these altcoins have provided double-digit returns.
Traders who are long Bitcoin, which is currently trading above $56330, are profitable; however, the rangebound market behaviour over the last two months has stifled portfolio expansion.
Altcoins with double-digit gains and market capitalizations in the low to mid-range have further unrealised income from the boom and Bitcoin’s rangebound pricing activity. Overall, the effect at the end of Q1 2021 has not yet resulted in a reduction in Bitcoin’s price, which is a major increase over the previous year’s quarterly returns.
Bitcoin’s quarterly returns have now been positive for the past four years, totalling a full year of price rise. According to Skew results, the quarterly closing price is now steadily higher for the fifth quarter.
Traders also predicted that, based on on-chain operation and demand, Ethereum’s market cap will be greater than $197 billion in the future. However, the narrative of ETH being undervalued at $1700 per coin persists, leading to cautious development in ETH-dominated portfolios.
At the current price stage, 93 percent of HODLers benefit, while on-chain research by intotheblock indicated that sentiment is currently bearish. The trade volume has fallen by more than 20%, and the decreased liquidity could result in rangebound market action over the next week.
HODLers who have kept ETH in their fund for more than a year are still keeping it, however traders who purchased around the $1600 mark, where the stock oscillated many times, are forecasting double-digit returns and a price surge, owing to the sustained bullish sentiment, open interest on futures markets, and returns from DeFi and other alts.
Regardless of Bitcoin’s prolonged price surge and Ethereum’s undervalued price and market capitalisation, altcoins such as FIL, HOT, RUNE, VGX, and AR from coinmarketcap.com’s top 100 altcoins have given double-digit returns on exchanges such as Binance and OKEx.
STORJ has returned 1030 percent YTD; CAKE has returned 2822 percent; and the number of double-digit returns includes FIL, THETA, MANA, UNI, and SUSHI.
The top three DeFi tokens, based on price activity over the last week, include tokens with market capitalizations ranging from $1 to $100, low liquidity due to strong trading rate, and high returns. According to coinmarketcap.com info.
In the case of DeFi tokens, the chances to book unrealised gains are smaller, considering the fact that they have provided traders with double-digit returns and improved nett portfolio returns with as little as 20% of the portfolio valuation. The portfolio returns for Q1 2021 have given insight into the top altcoins: allocating 5-20 percent of the trading portfolio to such alts (for double-digit returns) might be a good idea.