Altcoins
Here’s When Traders Can Expect Altcoin Season?
Amid a sluggish crypto market, analyst Altcoin Buzz predicted a bottom for altcoins this summer, followed by a sharp rise towards the end of the year. This bullish forecast comes amid notable movements in the altcoin sphere, with two particular altcoins seeing gains.
Potential Altcoin Bottom in June
According to Altcoin Buzz, historical chart patterns indicate a potential local price bottom for altcoins around the beginning of June. This projection aligns with crypto analyst information Rekt Capital, who pointed out in a recent article that altcoins tend to bottom out in early summer following specific market events. Despite a recent decline in the altcoin’s market capitalization, sentiment remains positive, with year-to-date gains still substantial.
Bitcoin’s Role in Altcoin Market Sentiment
Sentiment in the altcoin market is closely tied to Bitcoin’s performance, and analysts suggest that altcoins may hit local lows as Bitcoin prices continue to exhibit a consolidation phase after the halving.
Positive developments in the Altcoin ecosystem
Meanwhile, developments are underway in the altcoin ecosystem, contributing to market optimism. CET, a blockchain data infrastructure, announced the integration of the Peaq blockchain, aiming to improve real-world use cases and facilitate the development of event applications. This integration is expected to provide developers with customizable live data feeds, enabling the creation of innovative applications on the network.
Amid these developments, the altcoin market is seeing a notable increase in specific projects. Akash Network surged nearly 50% in the past seven days, fueled by quarterly revenue growth and the introduction of cloud provider-friendly platforms. In the same way, TON cointhe open network’s native cryptocurrency, saw a substantial rally ahead of the planned launch of its token, backed by major exchanges offering pre-listing staking rewards.
In a bid to expand the sports fan token ecosystem, SBI Digital Asset Holdings, the crypto arm of Japanese conglomerate SBI Holdings, has partnered with sports blockchain provider Chiliz. This collaboration aims to provide Japanese fans with access to fan tokens of popular football clubs and enhance their sports and entertainment experiences through token-based rewards and activations.
Amid a sluggish crypto market, analyst Altcoin Buzz predicted a bottom for altcoins this summer, followed by a sharp rise towards the end of the year. This bullish forecast comes amid notable movements in the altcoin sphere, with two particular altcoins seeing gains.
According to Altcoin Buzz, historical chart patterns indicate a potential local price bottom for altcoins around the beginning of June. This projection aligns with the insights of crypto analyst Rekt Capital, who pointed out in a recent article that altcoins tend to bottom out in early summer following specific market events. Despite a recent decline in the altcoin’s market capitalization, sentiment remains positive, with year-to-date gains still substantial.
Sentiment in the altcoin market is closely tied to Bitcoin’s performance, and analysts suggest that altcoins could hit local lows as Bitcoin prices continue to exhibit a consolidation phase after the halving.
Meanwhile, developments are underway in the altcoin ecosystem, contributing to market optimism. CET, a blockchain data infrastructure, announced the integration of the Peaq blockchain, aiming to improve real-world use cases and facilitate the development of event applications. This integration is expected to provide developers with customizable live data feeds, enabling the creation of innovative applications on the network.
Amid these developments, the altcoin market is seeing a notable increase in specific projects. Akash Network has surged nearly 50% in the past seven days, fueled by quarterly revenue growth and the introduction of cloud provider-friendly platforms. Similarly, TON coin, the open network’s native cryptocurrency, saw a substantial rally ahead of the planned launch of its token, supported by major exchanges offering pre-listing staking rewards.
Sports Fan Token Ecosystem Expands with SBI Digital-Chiliz Partnership
In a bid to expand the sports fan token ecosystem, SBI Digital Asset Holdings, the crypto arm of Japanese conglomerate SBI Holdings, has partnered with sports blockchain provider Chiliz. This collaboration aims to provide Japanese fans with access to fan tokens of popular football clubs and enhance their sports and entertainment experiences through token-based rewards and activations.
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