The latest inflation data in the US has been released, and it is better than expected. The Consumer Price Index (CPI), which shows how quickly prices are rising, came in lower than many thought. Following the news, the stock and crypto markets jumped slightly, and interest rates dipped a bit.
Experts are also awaiting an important FOMC meeting scheduled for Tuesday and Wednesday this week. This meeting could signal the start of a new phase for the markets, with some altcoins expected to benefit more than others if a rate cut eventually occurs.
According to AltcoinBuzz, while many tokens remain quiet, some stand out with strong growth and an increasing user base. The analyst's top pick is Bitcoin, especially when interest rates fall. Historically, a decrease in rates has led to a surge in Bitcoin, and it is expected to exceed $110,000 in this cycle.
Altcoin 1: SUI
Sui quietly became one of the strongest players in this market cycle. Over the past year, it has grown by more than 200% and is making significant strides in important areas such as DeFi and stablecoins. Sui recently crossed nearly $2 billion in total value locked (TVL).
It is also expanding into areas such as decentralized data storage and NFTs, making it a growing force in the crypto space.
Source: CoinMarketCap
At the time of writing, SUI shares have fallen by more than 1% and are trading at $3, making them a 'discount buy'.
On the topic: The race for a spot in the Solana ETF is intensifying as European giant CoinShares files documents in the US.
Altcoin 2: Solana (SOL)
Solana has risen again, moving between $150 and $225 over the past few months. It leads in daily active users and transactions, even outpacing Ethereum on some key metrics. The growing Solana stablecoin market and increasing transaction fees indicate its high demand, and with lower fees and high speed, it is one of the most user-friendly platforms.
Source: CoinMarketCap
Solana has also dropped by 2.65% and is trading at $153. SOL may soon reach the next important resistance level at $164 (50% Fibonacci).
Altcoin 3: Bittensor (TAO)
As AI continues to grow, Bittensor is at the forefront of decentralized AI. Recently, the project added its 100th subnet, creating more use cases for its own TAO token, and its fixed supply of 21 million tokens makes it rare and valuable, like Bitcoin. If several of these subnets are successful, it could lead to a sharp increase in the price of TAO.
Source: CoinMarketCap
TAO has also fallen by more than 3%. However, the analyst stated that TAO is poised to explode when the next big move happens.
