The recent surge in Bitcoin's value has shifted focus to altcoins such as SEI, Ethena (ENA), SUI, and Aptos (APT), highlighting market changes.
Rising Dynamics in SEI and ENA
Backed by Circle, SEI has dramatically increased its Total Value Locked (TVL) from $28 million at the end of 2024 to over $600 million this year. This has allowed SEI to surpass Ethereum and Arbitrum in weekly transactions. With the current price at $0.33, maintaining this momentum could drive the target to $0.54. However, analysts warn of potential volatility in demand.
Critical Thresholds in SUI and APT
SUI has achieved a daily trading volume of $2.34 billion, doubling stablecoin transactions compared to Solana. However, an upcoming release of $240 million worth of coins on August 1 may exert short-term selling pressure. Analysts view potential pullbacks as opportunities before the next substantial upward move. Meanwhile, Aptos is buoyed by support from BlackRock and Franklin Templeton, with anticipation of potential ETF approval in the U.S. The price has yet to decisively break past the $6.14 resistance, and analysts recommend a cautious approach until an upward movement is confirmed.
Market Situation Analysis
Despite the rapidly growing popularity of these altcoins, the market has yet to deliver clear buy signals. Investors should consider timing strategies to optimize their investments. It's important to note that high volatility could represent risks, and analysts advise waiting for more favorable market conditions before entering trades.
Altcoins SEI, ENA, SUI, and APT demonstrate significant opportunities amid rising interest in cryptocurrencies. However, investors should proceed cautiously and analyze the market before making trades.
