The changes in the current altcoin market are worth our attention; the phenomenon of following the trend has appeared again, as some niche altcoins have suddenly surged collectively, especially those that had previously fallen sharply, are now starting to catch up with the leading coins.
In this wave of market activity, the actual leading coins haven't increased much; instead, it is the metaverse concept coins promoted by BN that are rising. Most of these coins had previously dropped over 90% due to activities initiated by Binance, and now they have suddenly come back to life.
However, there are very few actual buy and sell transactions, which means that the real buying volume for these altcoins is not high. Is the BN effect starting to shift towards the secondary market?
It is advisable not to rush into buying the metaverse coins that have already risen significantly. Currently, the entire market is relatively quiet; this localized market activity may be fleeting. For short-term trading, it is best to wait for the next clear collective upward signal before taking action.
Additionally, observe whether there will be other concepts that emerge in a similar manner during this rotation, such as the AI sector, meme sector, or DeFi sector taking turns.