The current market sentiment is that Ethereum has clearly surpassed Bitcoin. From a phased perspective, this can be considered the second phase. Historically, in the first phase, Bitcoin would take off first, but this time Bitcoin has been flying since June, and the main character has switched to Ethereum, marking this as the second segment.
The third segment is when valuable large-cap altcoins start to stir. Like when Trump won, the DASH recommended by Crab Boss in a live stream doubled in two days. However, this situation has not yet appeared in this round, so the market currently defines it as being in the second round phase.
The final phase is when unknown altcoins start to surge, and at this point, one must be cautious, as it often signals the beginning of a bubble collapse.
The recent correction does not signify an end. Whether it's to clarify leveraged behavior or the exit of early profits, the conclusion is that it won't end here.
Additionally, when ETH's market share exceeds a certain percentage, it will be like the current Bitcoin, where whales continuously swap into Ethereum. So where will these whales on Ethereum swap to?
That is a more cost-effective large-cap altcoin.
Currently, Ethereum is not affected by macro factors, mainly because Bitcoin and Ethereum are positioned differently. Ethereum has a large amount of data available for fundamental analysis, plus the larger market segments are built on Ethereum, such as the effects of the stablecoin legislation, including RWA's potential of billions.
Currently, a lot of capital entering the market is actually coming in with a speculative mindset, unlike Bitcoin, which is purely for hedging against inflation. For example, El Salvador buys one Bitcoin every day. Although Ethereum looks riskier than Bitcoin, the expected returns are very high. In the past two days, Ethereum ETFs have seen nearly $400 million in daily inflows. Coupled with the crypto treasury continuously buying, BMNR has bought over 200,000 coins. Now the total holdings exceed 1.7 million coins, sbet's holdings are close to 800,000 coins, and dynx's holdings are 345,000 coins. There has been no movement for the past two weeks; last night, this company renamed itself ETHM, which seems to indicate a focus on ETH treasury, and they are expected to continue buying.
As long as Bitcoin doesn't drop significantly, it is only a matter of time before Ethereum breaks $5000.
Finally, let's talk about altcoins.
The term altcoin season has already been despised by everyone this year, but it is also what every player in the crypto space hopes for. Looking back at the performance of some altcoins in the last round, you will understand why everyone despises altcoin season, yet everyone also hopes for its arrival:
In the last round, the most noticeable increases were as follows:
$DOGE: Increase of approximately 14700%
$BNB: Increase of approximately 1715%
$SOL: Increase of approximately 3122%
$ADA: Increase of approximately 1261%
Therefore, these price increases are very eye-catching, with some seeing 5x-10x increases. It can be said that those who have experienced altcoin season all say one thing: whichever you buy during that time, that one will rise!
Whether recognized or despised, the altcoin season is an indispensable stage in the crypto space.
However, the upcoming altcoin season has already transformed. It is no longer just a random concept that can attract capital for a general increase.
But don't worry, there is one angle that Crab Boss hinted at in July, which is that the altcoin ETFs will have results in October. If the altcoin season is coming, then these ETFs will be the biggest catalyst. For those still confused, just select from the list of expected ETFs this round, and at worst, you can still expect to double your investment.
Secondly, a lot of crypto treasuries are also reserving altcoins. Previous statistics showed holdings of SUI, DOGE, LTC, including the previously recommended IP that has now risen by 15%. It's worth mentioning this IP token, which now has spot trading on OKEx and contract trading pairs on Binance. I believe it won't be an issue to list it later, so if the price touches support, buy it. If you feel you bought too little, you can buy more at the next position.
IP was launched by Grayscale as a trust last month, and yesterday it received $260 million in financing as crypto reserves. There is potential.
Returning to the topic above, those with crypto reserves and ETF expectations should be given more attention. These are the major directions for the second half of the year. For example, Ethereum has been pushed up by listed companies since June. Once these companies buy enough or feel Ethereum is too expensive, they will shift their focus and funds to altcoins with crypto treasuries and ETF expectations.
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