Bitcoin has broken through historical highs, reaching the $110,000 mark, while altcoins have remained at low levels. So, will the crypto space welcome a bull market for altcoins in the future?
We need to clearly assess the current phase of the market. Bitcoin indeed belongs to a bull market, but does a Bitcoin bull market necessarily mean that altcoins will also have a bull market?
Secondly, since this bull market is a slow bull, the reversal of trends is unlikely, and the rise of countless coins is also unlikely to happen. If the rise of countless coins is not going to happen, is the strategy of waiting for the altcoin bull market reliable?
If you can't wait for the altcoins in your hands to explode, Bitcoin may already be in a high-level fluctuation starting to form a top. Once the Bitcoin trend reverses from bull to bear, won't the altcoins bleed profusely?
Lastly, the explosion of altcoins is definitely going to happen; it is unlikely that countless coins will rise. Instead, larger sectors will rotate, and sector rotation is extremely unfriendly to retail investors. This is also the main reason why retail investors tend to lose money, often losing a lot, during the late stages of a bull market when prices surge.
Sector rotation requires a very high level of professionalism, with fundamentals, news, policies, and capital all needing to be reflected in technical analysis for judging tops and bottoms. Effective trading strategies are also necessary to ensure that, even without profits, capital is preserved through a risk control system. Do you really possess all these capabilities?
3 types of altcoins with a 10x growth potential!
JTO
Jito Network (JTO) plays an important role in the Solana ecosystem by providing JitoSOL (a liquidity staking solution), which combines traditional staking rewards with rewards from MEV (Maximum Extractable Value). This approach aims to provide users with avenues for yield generation and participation in DeFi activities without locking up their SOL tokens.
Jito's underlying technology allows users to exchange SOL for JitoSOL. This staked version of SOL retains liquidity, meaning holders can still trade or use their tokens in decentralized applications while earning rewards.
In addition to standard staking income, JitoSOL holders will also receive a portion of MEV-related income. MEV refers to profits obtained by reordering, including, or excluding transactions in a block.
Jito's current price is $1.94, having increased by 2.56% in the past 24 hours. The token exhibits good liquidity, with a 24-hour trading volume to market cap ratio of 0.0674. This indicates active trading relative to its market size. Sentiment around this asset remains neutral, with the overall cryptocurrency market's fear and greed index showing a 'greed' level of 73, indicating strong investor interest.
WCT
The WalletConnect (WCT) network is an on-chain user experience (UX) ecosystem designed to improve interactions between users, applications, and wallets on Web3 platforms. The project is powered by the Connect Token (WCT) and launched on the Optimism OP mainnet, combining the security of Ethereum with high-speed performance to support a more seamless and decentralized user experience.
WCT implements decentralized governance and incentivizes contributions to network development. It empowers users and organizations to shape Web3 user experience standards and earn rewards. The early version of WCT is expected to be released by the end of 2024, aimed at promoting continued engagement and innovation within the WalletConnect ecosystem.
WalletConnect Token (WCT) is showing strong momentum, currently priced at $0.750936, up 14.77% in 24 hours. Over the past week, the token has risen by 22.48%, and this month has seen an increase of up to 77.97%. The daily high for WCT is $0.766092, with a low of $0.64083, demonstrating strong momentum and keen interest from investors.
WalletConnect announced the shutdown of its v1.0 protocol and urged users to switch to the improved v2.0 version. The new version offers faster, more reliable transactions, multi-chain support, and enhanced user control, with self-hosting options coming soon.
This upgrade improves user experience and scalability, making WalletConnect more attractive to developers and investors. It signifies the platform's commitment to innovation and achieving stronger applications in the Web3 space.
GMX
GMX is a decentralized exchange that offers spot and perpetual contract trading, enjoying low swap fees and zero price impact trading. It employs a unique multi-asset liquidity pool to generate fees through market-making, swaps, and leveraged trading, providing a robust trading experience.
GMX is both the utility token of the platform and a governance token. Holding GMX can bring numerous benefits to users, giving them a voice in platform governance to coordinate community incentive mechanisms and the development of the exchange.
GMX is steadily rising, with a trading price of $16.46, up 6.71% in the past 24 hours and up 7.80% over the past week. GMX's daily high is $16.62, with a low of $15.11, continuing to maintain strong growth momentum and garnering attention.
GMX announced the launch of GMX Multichain, enabling seamless trading across multiple blockchains and providing access to $390 million in liquidity through any EVM-compatible network. This expansion enhances GMX's decentralized trading capabilities, allowing users to trade assets like BTC, ETH, and SOL with leverage up to 100 times directly from their wallets.
The launch of GMX Multichain positions GMX as a leading decentralized exchange, providing cross-chain interoperability and strong liquidity. This development attracts traders seeking diverse trading options and investors looking for robust DeFi platforms, potentially enhancing GMX's adoption and market influence.
