The cryptocurrency market is experiencing a growing interest in altcoins, with Ethereum and Solana leading the way. Analysts urge cautious optimism.
The Rise of Major Coins
Altcoin seasons generally follow a familiar pattern. Bitcoin (BTC) typically initiates the rally, followed by large altcoins like Ethereum (ETH) and Solana (SOL). Subsequently, market interest shifts to smaller capital and humor-based altcoins. According to analyst VirtualBacon, we are currently in the major capital breakout phase of the altcoin season. Since April 1, the altcoin market has grown by over 27%, with Ethereum rising by 47.04% and Solana by 46.73%. Smaller altcoin projects like PEPE, TAO, and SUPER have also seen over 40% value gains.
Coins Under the Analyst’s Radar
While the altcoin market shows positive signals, VirtualBacon warns that this is not yet a full-fledged altcoin season. If the US Federal Reserve does not pause its Tightening Monetary Policy (QT), the rise might remain a "relief rally." However, the analyst advises keeping an eye on specific altcoins. Ethereum and Solana emerge as coins with strong fundamentals, gaining 64.5% and 37.7% in value over the past month. Other interesting projects include ALGO and IOTA, along with JUP in the Solana ecosystem.
Predictions and Recommendations
The analyst also highlights several promising altcoins across various categories: in the gaming sector, SUPER, and in AI, TAO, which has been dubbed the "Bitcoin" of its category, achieving over 100% growth. In the memecoin sector, PEPE and Pengu stand out, while in the real-world assets category, AXL and CHEX are featured.
Further developments in the altcoin season are expected soon, with growing interest from both large and small investors. Strong-performing coins like Ethereum and Solana continue to attract attention.
