Altcoins
Altcoins Signal Buy After Seeing Success Since March: Investment Opportunities Emerging
After suffering significant declines since March, altcoins could present buying opportunities for investors as market conditions stabilize, experts say.
Mid- and Small-Cap Altcoins May Present Investment Opportunities Amid Recent Market Correction
After “taking over” over the past four months, the altcoin crypto market could offer “some opportunities” for investors.
According to CointelegraphAltcoins with a market cap below $10 billion could be gearing up to offer “some opportunities” for investors as their value has seen a decline since Bitcoin hit a new high earlier in 2024.
“Small-cap crypto assets have taken it on the chin since the March high of this year,” RealVision chief crypto analyst Jamie Coutts wrote in a June 13 statement. job.
According to Cointelegraph Markets Pro, Bitcoin saw a decline of almost 6% to $67,126 over the past week, following an all-time high of $73,679 on March 13.
“If this is a regular mid-cycle correction that we are experiencing, which I think is likely, then expect opportunities to present themselves in mid and small caps once the market has stabilized,” added Coutts.
Equal-weighted top 200 index falls 30%, highlighting underperformance of smaller cryptocurrencies versus market leaders
According to cryptocurrency monitoring data from Bitformance, the top 200 equal-weighted indices, which equalize the weight of cryptocurrencies regardless of their market capitalization, have declined by more than 30% over the past three months by compared to the market capitalization index, which weights cryptocurrencies according to their market capitalization.
This decline suggests that smaller cryptocurrencies have demonstrated lower performance than larger cryptocurrencies that dominate the market cap index.
Meanwhile, Coutts observed that Bitcoin and Ether only saw declines of 11% and 5%, respectively, during the same three-month period.
He further stated that tokens linked to the index metaverse had the lowest returns over the past three months, with a negative return of 44.13%.
In the sub-$1 billion market cap category, metaverse tokens According to CoinGeckoDecentraland and Sandbox saw declines of over 15% over the past week.
This coincides with the continued expansion of institutional interest in cryptocurrencies beyond Bitcoin and Ether.
Franklin Templeton revealed on June 6 that it was exploring the development of a new cryptocurrency fund that would expose institutional investors to alternative currencies.
The asset manager did not specify which altcoins make up the fund’s portfolio; however, he recently expressed his admiration for the Solana network.
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