Is the era of altcoins fading?🤔
While the price of NXPC shows bullish momentum, other top-ranking altcoins on the market are experiencing a downward trend. This has led to speculation about whether the altcoin season has come to an end.
The price of Ethereum (ETH), the leading altcoin in the market, has decreased by 2.7% over the last 24 hours.
Ripple's XRP and Solana (SOL) have also dropped by 4.8% and 4.7%, respectively. BNB, another leading altcoin, has slightly decreased by 0.6% during the same period.
Although the daily price drop raises concerns, on the weekly chart these altcoins are experiencing bullish momentum.
This means that the emergence of favorable market conditions could push altcoins back into a bullish phase.
Moreover, former BitMEX CEO Arthur Hayes had previously predicted that altcoins are set for new rallies once Bitcoin surpasses the $110,000 mark.