Altcoins

Here are the best performing altcoins this month

Published

9 months ago

14 May, 2024

CoinFlix Staff

May 2024: Here are the best performing altcoins this month

We checked the performance of the top 15 altcoins by ROI in May 2024.

Top Performing Altcoins by ROI from April 14 to May 14, 2024 | Source: CoinGecko

According to CoinGecko, the best performing altcoin over the last 30 days is Pepe (PEPE). This meteoric meme coin has gained 106% over the past 30 days and is trading at $0.00001103 at the time of writing, just a bit below its recent all-time high price.

Pepe has seen major gains thanks to its enthusiastic community sharing viral content featuring the project’s iconic frog mascot, which was first popularized on the messaging forum 4chan. Although the coin is indeed performing very well for the month, some analysts are warning that the coin could be overheated.

Pepe’s Relative Strength Index (RSI) is now 73. This indicator is sometimes used to determine whether a coin is overvalued, with a reading of 73 generally considered a sign that the bull run seen by PEPE could be due to a correction.

With this in mind, it is possible that traders are expecting PEPE price volatility in the near future.

What are the 5 best performing altcoins this month?

Pepe is not the only altcoin to post gains this month. Here are some of the altcoins with the most potential, listed in order of price growth from mid-April to mid-May 2024.

Arweave (AR) has seen its prices rise 46% over the past month, now trading above $38 with a market cap of $2.5 billion. Arweave has had a choppy week, with prices ranging from $37 to $44, but showing a strong upward trend since mid-April.

Hedera (HBAR) is showing strong price activity with a 34% price increase over 30 days. The price of HBAR has doubled over the past year as the project that bills itself as the successor to blockchain technology continues to gain popularity.

Give back (RNDR) continues to climb after 445% price growth last year and a 31% increase in 30 days. The project presents itself as the first decentralized GPU rendering platform and aims to provide access to GPU computing power to its users.

Close protocol (CLOSE) has grown by 30.9% over the past 30 days. Near Protocol now occupies the 19th position in the crypto.news rankings with a market capitalization above $7 billion. Near Protocol aims to create an energy-efficient and scalable platform for building decentralized applications in the Web3 ecosystem.

What are the top 15 altcoins this month?

After the 5 tokens listed above, there are 10 more altcoins to watch that have seen impressive gains since mid-April.

Tron (TRX) comes next with a strong market capitalization of $10.9 billion and price increases of 12% over the last 30 days. TRX price has increased by 79% over the past 12 months.

Optimism (P.O.) arrives on our list in 7th place, with the price up 11.9% this month. Optimism is an Ethereum layer 2 protocol aimed at making Ethereum more scalable. Interestingly, even though Optimism’s OP token is one of the biggest gainers of the month, the token’s price is actually trending downward overall this year.

Monero (XMR) remains popular as the world’s largest privacy coin project, with the price up 11.8% this month. However, over the past year, the token has fallen by 13%, failing to show the same long-term performance as some of the other tokens on this list.

dog woman (Wireless) is the second successful meme coin, gaining 11% over the past 30 days. The WIF token is up approximately 129% for the year, demonstrating the power of meme culture within the crypto community.

The graphic (GRT) is also up 129% this year, also posting gains of 11% for the month. The Graph is responsible for indexing blockchain network data with the aim of making blockchain networks easily searchable for more casual users.

Shiba InuSHIB), another meme coin, saw price growth of 7.3% this month and gains of 163% for the year. SHIB is one of the largest meme coins in the industry with a market capitalization of over $13 billion.

Binance Coin (BNB) continues to show strong price growth despite the various legal issues faced by the Binance exchange over the last year. The coin, which allows users to trade on Binance at a reduced rate, has a market capitalization of $89.1 billion and gained a more modest 3.8% this month.

Toncoin (TONNE), the project affiliated with the Telegram messaging service, grew by 3.6% this month. Ripple (XRP) increased its price by 3.2% over 30 days and 17% in the last year. Finally, Ethereum competitor Solana (GROUND) rose 2.3% last month and a more impressive 588% last year.

Is it altcoin season already?

The legendary altcoin season is on everyone’s minds as the godfather of cryptocurrencies, Bitcoin (BTC), remains somewhat close to its all-time high. After the recent Bitcoin reduce by halfaltcoins followed a downward trend, falling sharply on May 1 before recovering but still losing $109 billion over 30 days.

Although altcoins with the most potential will tend to shine in many types of market conditions, some markets are more favorable than others.

Altcoins may tend to fall near expected BTC price events, such as the Bitcoin halving, as traders tend to cash out altcoins to buy more Bitcoin in anticipation of a surge. Meanwhile, bearish traders speculating on a drop in BTC price might tend to withdraw from the crypto altogether and wait for any possible price drop.

The post-halving crypto market is often volatile, and this time is no exception. While it doesn’t appear that altcoin season is in full swing at the moment, it’s clear that some altcoins are more than capable of making very healthy gains, as evidenced by today’s top coins .

As traders scramble to determine which altcoins to invest in, it is important to remember that the altcoin market is very volatile, especially in current market conditions. A coin that has performed well over the past 30 days is not necessarily on track to continue rising in price next month. Traders typically look at trading volume trends, price growth, volatility, and general project-related news when assessing the viability of a crypto investment.

For more information, you can check out our recent complete guide to altcoins article.

Disclosure: This article does not represent investment advice. The content and materials presented on this page are intended for educational purposes only.

Fuente

Altcoins

Long-Term Impact of Ethereum ETF on Cryptocurrency Market

Published

6 months ago

29 July, 2024

CoinFlix Staff

Long-Term Impact of Ethereum ETF on Cryptocurrency Market

Popular crypto analyst Michael van de Poppe has highlighted his altcoin portfolio approach in light of the new Ethereum ETF. In a recent Youtube videoThe analyst explained the measures he would take for this major market event.

The Ethereum ETF was listed on the stock exchange and it took time to get approval and so far there has been no significant change in price. The analyst pointed out that the long-term effect could be quite significant, comparing it to the situation of the Bitcoin ETF where the initial decline was followed by large inflows.

According to Van de Poppe, the Ethereum ETF’s trading volume on the first day of trading was about 25% of the volume Bitcoin ETF He noted that the first day of trading was marked by low inflation, and said there was a net inflow of $150 million to $160 million, which reduced the available supply.

Altcoins are poised for growth

The analyst said that as Ethereum adoption increases in the future, the supply of Ethereum will decrease, which is a deflationary model. Ethereum is up about 15% since the ETF approval, the broader market reaction has yet to happen as several sell-offs have taken place, including the Grayscale Trust.

Van de Poppe also mentioned other important market events, including the end of Mount Gox The process of repaying creditors initially caused tensions in the markets, but had little effect subsequently. It also highlighted the role of macroeconomic factors, which can lead to Fed rate cuts, which can affect markets.

In this regard, looking at van de Poppe’s strategy, he is still keen to trade within the altcoins of the Ethereum ecosystem. He stated that there is a possibility of short-term price fluctuations that may discourage many people, but the long-term still looks good due to the improvement and adaptation that has been made to Ethereum and its environment.

According to the analyst, substantial inflows could propel Ethereum towards new historic highs with estimates ranging from $5,000 to $7,000. Despite the current market fluctuations, he is confident that macroeconomic changes and greater liquidity will be favorable for altcoins.

He explained that his broad approach to altcoins, especially those associated with Ethereum, will be beneficial because the market will react differently to these events. The basis for his optimism comes from the fact that he believes that Ethereum and all associated projects are still extremely undervalued and have the potential to skyrocket as sentiment changes.

Looking ahead and market adjustments regarding the Ethereum ETF and other macroeconomic factors, the analyst remains bullish on altcoins. He suggested investors stay informed and believe that in the ever-changing world of crypto, they will eventually be rewarded.

Fuente

Altcoins

Altcoins Are Severely Undervalued, Awaiting Ethereum Move | Flash News Detail

Published

6 months ago

28 July, 2024

CoinFlix Staff

IntoTheBlock Releases Report on Institutional DeFi Trilemma

Disclaimer

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Fuente

Altcoins

Altcoins Correct Amid ETH Decline, Grayscale Outflows | Flash News Detail

Published

6 months ago

28 July, 2024

CoinFlix Staff

Disclaimer

Fuente

Altcoins

Epic Altcoin Rally Expected for August and September

Published

6 months ago

28 July, 2024

CoinFlix Staff

Crypto analyst predicts massive altcoin rally similar to Q1 2024, urging patience and accumulation.
Bitcoin’s potential as a reserve asset and its technical patterns suggest that it will drive the rise of the cryptocurrency market.

Captain Faibik, a renowned crypto analyst, has created excitement in the cryptocurrency sector with his latest prediction. He indicated that we are on the cusp of a massive altcoin rally, similar to the one we saw in Q1 2024.

We are on the verge of a massive Altcoin rally, similar to Q1 2024📈

Keep accumulating and hold with patience. (Patience will be rewarded)

The majority of #Altcoins have already hit rock bottom and are about to escape.

In my opinion, August-September is going to be epic for Altcoins.🚀🚀#Crypto pic.twitter.com/cMdHagiaYc

— Captain Faibik (@CryptoFaibik) July 24, 2024

Accumulating and Holding Altcoins: The Path to Potential Profits

He stressed the need to accumulate altcoins and hold them patiently, as it will eventually pay off. According to him, the majority of altcoins have already bottomed out and are about to break it. He believes August and September will be epic months for altcoins.

In a chart posted by Captain Faibik, the overall crypto market cap, excluding Bitcoin and Ether, known as TOTAL3, is approaching the upper boundary of a descending channel pattern.

This context suggests a potential breakout and a significant rally towards the $1 trillion mark. Technically, the decline since mid-March is interpreted as a corrective trend for the value of TOTAL3, signaling a preparation to enter a rally structure.

Bitcoin’s influence and legislative developments suggest good prospects for the future

Furthermore, based on sentiment and technical patterns, Bitcoin, the world’s leading cryptocurrency, appears poised to lead the charge in the cryptocurrency market. Bitcoin’s performance often sets the tone for the market as a whole, and a strong move in BTC could trigger a significant rally in altcoins.

Previously, as we have already said reportedSenator Cynthia Lummis said she plans to introduce a bill at the upcoming Bitcoin conference that would require the Federal Reserve to hold Bitcoin as a reserve asset.

If this law passes, the US will treat BTC as a long-term investment rather than selling huge amounts infrequently, which could disrupt the market.

In addition, asset management firm VanEck has proposed a bold scenario in which Bitcoin Price Could Reach $2.9 Million Per BTC By 2050based on its fundamental outlook. Matthew Sigel, head of digital assets at VanEck, and senior investment analyst Patrick Bush noted that their estimate is based on Bitcoin’s adoption as a global medium of exchange and reserve asset.

As Bitcoin price increases, altcoins are expected to gain popularity, indicating the start of a bullish rally shortly after the BTC halving event.

Meanwhile, at the time of writing, the price of BTC was hovering around $67,007.99up 4.67% over the past 24 hours following a short-term correction.