Using Bitcoin's new high as a baseline, the bull market process of the altcoin market has only advanced about 20%, which means investors still have ample time and opportunities to participate. Currently, many altcoins still seem to be in a sluggish state, failing to break through alongside Bitcoin, but a few, such as XRP, ADA, TRX, XLM, and LINK, have begun to show strong momentum, either hitting new highs or approaching historical peaks.
It is worth noting that although many altcoins listed on major exchanges still linger at bear market levels, this actually provides investors with a rare opportunity. As long as these projects continue to operate, it is likely that institutional funds have already made secret arrangements and gained control. Once the timing is right, these altcoins may achieve several times of appreciation in just a week or even a day, and within a month, they might completely release the momentum built up over the past several years.
The explosive potential of the altcoin market is astounding; they have the potential to complete a bull market process in a very short time that Bitcoin took years to accomplish. In a true bull market frenzy, the vast majority of altcoins listed on major exchanges are expected to achieve at least three to five times their gains, with a significant portion even potentially reaching tenfold increases.
In other words, the explosive potential of the altcoin market has been quietly brewing even during the bear market. Regardless of how the market narrative changes, as long as liquidity is sufficient, even seemingly outdated projects may experience an explosion. Sometimes, project teams don't even need to bother building a narrative; they just need to firmly push the price up, and there will be 'research experts' writing appealing stories for them.
Of course, most altcoins may remain dormant for a long time, but once they explode, they often achieve astonishing gains in just one or two weeks. Unlike a few assets like Bitcoin that display bulldozer-like robust performance, most altcoins' bull market processes are shorter and more intense. This is precisely because most people lack confidence in them and do not see the logic and potential behind them. However, this precisely provides huge opportunities for those who dare to position themselves and patiently wait. As long as the project is still operating, there is a possibility of explosive growth.
Buying these cryptocurrencies in 2024 can yield 100% returns!
1.JASMY
JasmyCoin (JASMY) is currently trading at $0.04602, with a 6.24% appreciation over the last 24 hours. Its market capitalization has reached a new height of $22.7 billion, increasing by 5.46% compared to yesterday, while trading volume has surged by 29.92% to $244.75 million in 24 hours. The fully diluted valuation (FDV) of this currency remains around $22.9 billion, with circulating JasmyCoin amounts to 493.9 billion, and a maximum supply set at 500 billion.
Looking back over the past year, JasmyCoin's performance has been particularly remarkable, with its price skyrocketing by an astonishing 645%, far surpassing many of the top 100 cryptocurrencies. Moreover, JASMY's trading price has firmly stood above its 200-day simple moving average (SMA) of $0.024078, clearly indicating that it is in a strong upward channel.
The current Fear and Greed Index is as high as 80, marking the market as being in a state of 'extreme greed,' reflecting investors' high optimism towards JasmyCoin. Over the past month, JASMY has shown a stable upward trend, with 16 days (53%) ending with a closing price increase.
The sustained positive performance of JasmyCoin is supported by various factors, including its solid fundamentals, stable liquidity, and the generally optimistic market sentiment. However, investors should maintain a degree of caution in the face of the current 'extreme greed' market atmosphere, as the market may experience pullbacks or fluctuations in the short term. Although JASMY's stable rise indicates its further upward potential, investors still need to be mindful of potential price volatility risks.
2.GALA
Gala's current trading price is $0.05086, having appreciated by 3.53% over the past 24 hours. Its market value has climbed to a new height of $18.5 billion, also recording a 3.55% increase. Meanwhile, trading volume has seen a 6.56% increase, reaching $259.71 million. From a fully diluted valuation (FDV) perspective, Gala's valuation stands at $19.6 billion, with a total supply stable at 38.57 billion tokens.
Over the past year, Gala has shown a robust appreciation trend, with its price achieving a 65% increase. Compared to the 200-day simple moving average (SMA) of $0.030124, Gala's trading price is 68.97% higher, which not only highlights its strong momentum but also further confirms the market's positive direction.
The current market sentiment remains optimistic, with the Fear and Greed Index at 80, and this 'extreme greed' reading fully reflects investors' strong confidence in Gala. Over the past month, Gala has demonstrated high stability, achieving price increases on 19 days (as high as 63%). This continuous and stable upward trend not only indicates a steady increase in Gala's value but also reveals investors' strong interest in it.
In addition, liquidity conditions are also very favorable. A trading volume to market capitalization ratio of as high as 13.95% not only supports an efficient and active trading environment but also lays a solid foundation for Gala's future development. In summary, Gala continues to attract market attention with its robust performance, strong investor interest, and favorable liquidity conditions.
3.ENA
Ethena (ENA) has emerged in the recent bull market of the cryptocurrency sector, attracting a lot of attention. In just the past week, ENA's price jumped by 12.80%, reaching a high of $1.13, and its market capitalization expanded to approximately $20.4 billion. Additionally, in the last 24 hours, ENA has surpassed many altcoins with an astonishing increase of 14.02%, with its market capitalization skyrocketing by 14.03% to a new height of $33.2 billion.
This price surge began on December 10, when ENA successfully broke through the $0.862 barrier, completing a descending wedge technical pattern. This pattern suggests that the market is experiencing a convergence of lows and highs, typically seen as a precursor to an upward trend. This breakout not only highlights a significant enhancement of buyer strength but also indicates that ENA still possesses substantial potential for further increases in the future.
From a technical perspective, the upward trend has been further confirmed. The increase in trading volume and the bullish crossover of moving averages have added weight to the market's optimistic sentiment. The support level at $1 has been fully validated, and if ENA can successfully cross the resistance level of $1.19, its price is expected to embark on a new round of surges.
More notably, Ethena Labs recently announced detailed information about the upcoming stablecoin USDe. Compared to traditional stablecoins like Tether (USDT) and USD Coin (USDC), USDe is designed for trading and has investment attributes that provide returns. This innovative move showcases Ethena's unique charm and enterprising spirit in the DeFi sector.
The unique charm of USDe lies in its staking mechanism. It abandons the traditional model reliant on fiat reserves and instead adopts a method of staking ETH to generate returns. This innovation not only eliminates the troubles associated with short-term financing rates but also provides holders with an annualized return of up to 29%. These features make USDe an extremely attractive high-yield option, further enhancing Ethena's appeal to investors.
4.NEAR
The NEAR protocol, as a decentralized first-layer blockchain platform, focuses on simplifying the building and usage processes of decentralized applications (dApps). It successfully attracts a large number of developers by emphasizing scalability, simplicity, and providing user-friendly tools.
The core advantage of this protocol lies in its adopted sharding technology. NEAR employs a unique sharding strategy called 'Nightshade' to greatly enhance the system's scalability. Additionally, to lower the development threshold, NEAR supports various programming languages such as Rust and JavaScript, providing a more convenient development environment for dApp developers.
In terms of environmental protection, NEAR has also demonstrated its forward-looking vision. It adopts a Proof of Stake (PoS) consensus mechanism, significantly reducing its carbon footprint and reflecting NEAR's commitment to ecological friendliness.
However, despite NEAR's significant technical advancements, its current market valuation still somewhat limits its upside potential. Currently, its market capitalization is in the billions, which means that in the most optimistic scenario, the potential returns for this token may be confined to between 2 to 3 times.
5.AVAX
Avalanche, after experiencing a 10% drop in the past 24 hours, has quickly rebounded by 9%, currently finding solid support at the $52.15 level. Although the market offers a short-term 'buying opportunity,' it is worth noting that Avalanche holders have achieved over 74% value growth in just the past month, even though the current price level remains high.
Avalanche's recent launch of the Avalanche 9000 upgrade has significantly improved the usability and scalability of its blockchain, laying a solid foundation for future development. In addition, it has been reported that JD Vance, the vice-premier candidate selected by former U.S. President Trump, has a fondness for Avalanche and has held this token for some time. This news may positively impact the future development of Avalanche's products and bring brighter prospects for Avalanche holders in the U.S. region.
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