What top-100 alts, aside from OMG, STX, UNI, and BAT, will see a spike in the near future?

Spread the love

The first surge of the alt season has struck exchange portfolios, with double-digit returns from alts such as XRP, XTZ, BSV, XLM, NEO, and VET, among others, in the top-30 cryptocurrencies by market capitalisation. Among altcoins whose values are heavily affected by Hodler distribution and structure, XRP has the maximum market capitalisation and has also provided the highest returns this week (+77.32 percent).

Surging altcoins, in general, have begun to see a decrease in trading rate across exchanges, with the likes of OMG, STX, UNI, BAT, ALGO, and ALPHA registering a rise. Furthermore, lesser-known alts like STX have seen an increase in social volumes, as have other cryptos like $XRP, $XTZ, $FTM, and $BTG.

According to the attached table, social volume is a crucial metric driving the recent price increase. This alt season’s other main metric is HODLing, HODLers, and HODLer composition. Identifying the changing HODLer makeup has been critical in predicting an impending price spike for alts such as OMG, STX, UNI, BAT, ALGO, and ALPHA.

The average time that HODLers hold alts in their portfolios is the most important metric, followed by concentration by big HODLers and HODLers productive at the current price. This season, these on-chain metrics have proven useful in forecasting market rallies.

At the time of publication, APLHA had a concentration of 96 percent among big HODLers. However, only 53% of them were profitable at the specified price. This seemed to imply that, with over a 100 percent increase in trading volume on top ALPHA stocks, there could be a surge into the $2.5 range, which was last seen in February 2021.

RECOMMENDED READ:  Why Crypto crime dipped to 57% last year,  DeFi hacks now on the rise

In the case of STX, the rally has been led by social volume. STX was shifting hands quickly at press time, with a 968 percent surge in 24-hour trading rate. The price had risen by more than 20% in the previous 24 hours and was set to resume its upward trend this week.

The goal for OMG was $10, but the decrease in trade volume (-33 percent) and price in the last 24 hours indicated that there could be further price reversal. In reality, OMG’s rally could have come to an end. According to IntoTheBlock, on-chain sentiment was bearish. Furthermore, fewer than 30% of HODLers are profitable at the stated price range, indicating the end of the rally.

Although the rally for OMG could be coming to an end, it is expected that it will be continued in the case of UNI. According to UNI’s price chart and on-chain review, the price can rally to its ATH this week before dipping and ending the rally. This was apparent from the rise in 24-hour trading volume and price (nearly 3 percent ).

At the press time price level ($1.23), 98 percent of the 77 percent concentration by big HODLers is profitable.

RECOMMENDED READ:  Uniswap Price Movement Analysis for 21st March, 2021

Other top-100 altcoins with low market capitalizations that could be primed to rebound soon based on the same metrics are WINk and ALPHA. Retail traders looking to make double-digit returns this week should consider adding these top-100 tokens to their portfolios. This week will see an increase in the price of both mid- and low-capitalization alts.

 120 Interactions,  4 today

How China extends its research of digital yuan this April.

China has been at the forefront of the growth of the Digital Currency Electronic Payment [DCEP], also known as Digital Read more

Flash Loans – Collateral swaps and DeFi lending Explained

Flash loans are a modern kind of uncollateralized lending available from DeFi platforms such as Aave and dYdX. Flash loans Read more

Decentralized Applications (dapps): What Are They?

Decentralized applications (dapps) are automated programmes that run on a distributed network of computer nodes rather than a single server. Read more

SEC’s appeal for financial reports from Ripple executives Garglinghouse and Larsen denied by a judge.

Ripple's motion to retain the records of the new and former CEOs confidential was approved by Magistrate Judge Sarah Netburn. Read more

Non-Fungible Tokens (NFTs): What Are They?

Non-Fungible Tokens Are Transforming Rare Collection Ownership and Exchange Tokenization is ideal for resources such as fiat currency, gold, and Read more

Here was the moment Bitcoin surpassed $61k for the first time in history

The Bitcoin ($BTC) price burst through $61,000 for the first time in four weeks at 05:00 UTC on Saturday (April Read more

Cardano will launch smart contracts in August, with a focus on the DeFi Boom and corporate use cases.

The Cardano blockchain development team is revealing new information about the launching of its smart contracts. Following the announcement of Read more

Cardano could reach $8 by Halloween, cryptocurrency analyst Ben Armstrong claims.

Earlier this week, crypto expert and influencer Ben Armstrong discussed Cardano ($ADA) in a video posted to his very influential Read more

What exactly is Monero? , Monero (XMR) analysis, experience, benefits, and drawbacks

Monero is a cryptocurrency, a digital product that uses encryption to encrypt transactions. It is the thirteenth largest cryptocurrency by Read more

How Ethereum could reach $10,000 in 2021 and outperform Bitcoin, seasoned trader

Ethereum's "tremendous upside potential," according to experienced trader Scott Melker, could overshadow Bitcoin this year. In an interview, seasoned investor Read more

Is there a ‘revolution’ in Bitcoin mining in the United States?

Bitcoin, the world's first blockchain, was created to address the flaws of the centralised financial structure. PayPal co-founder Peter Thiel, Read more

Leave a Reply

Contact Us