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Altcoin Market: Explosive Signals
The altcoin market is showing signs of recovery, but the famous cryptocurrency expert, VirtualBacon, advises investors to remain cautious. He shares his investment portfolio, trading strategies, and macroeconomic outlook, providing valuable insights. The market often forms from Bitcoin, followed by Ethereum (ETH) and Solana (SOL), and finally transitions from large-cap cryptocurrencies to small-cap and meme coins. According to VirtualBacon, we are currently in a phase of large-cap explosion.
Growth Analysis
Since April 1st, the altcoin market has increased by at least 27.23%. Ethereum has risen by 47.04%, and Solana by 46.73%. Smaller altcoins such as PEPE, TAO, and SUPER have also seen significant growth, each rising by at least 40%. An important factor is the temporary halt in the US-China trade war, which has reduced market volatility and increased liquidity.
Not Achieved Altcoin Season
Although there is a positive upward trend, VirtualBacon warns that the market has not fully entered altcoin season. He points out that until the U.S. Federal Reserve stops quantitative tightening (QT), the current rally is just a temporary recovery, not a real altcoin season.
Featured Altcoin
Ethereum and Solana are recommended due to their strong fundamentals, with Ethereum up 64.5% and Solana 37.7% over the past 30 days. ALGO and IOTA are suggested as alternatives to XRP, with ALGO having a low price, good liquidity, and stable tokenomics, while IOTA stands out with its new L1 and mainnet.
Solana Ecosystem and Gaming Industry
JUP is a representative name in the Solana ecosystem. In the gaming industry, SUPER is recommended due to its consistency and long-term potential, especially with the upcoming staking rewards.
AI and Meme Coin Industry
TAO is compared to Bitcoin in the AI crypto space, having doubled from its lows. PEPE's market cap has increased from 2 billion USD to 5 billion USD in a month. AXL and CHEX are recommended due to solid fundamentals, with AXL having no large unlocks and CHEX being compared to Securitize for BlackRock's BUIDL fund.
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