Altseason officially kicked off this weekend – we’re watching these coins
Last Updated on 4 March 2024 by CryptoTips.eu
It is that time again. Altseason has officially started for digital coins. This means that more money flows to altcoins (or alternative coins, so everything outside of Bitcoin) than flows to the largest digital coin.
We have been counting down for a few months now and since January 2 we were already very close. Now we have started. It is unclear how long this altseason will last, but the growth of over the past week Ethereum in particular has ensured that more money is being pumped into altcoins.
We are already looking forward to these coins.
Ethereum and Ethereum Classic
Ether is the classic altcoin that performs well during altseason. In the 2017-2018 altseason it rose from $50 to $1,500, during the similar period in 2021 when altcoins performed fantastically, Ether reached its all-time high of $4,800.
New investors who want to invest in altcoins tend to choose Ethereum Classic (because some think it is a ‘cheaper’ version of Ether) and push the price of that coin higher during such a period.
Lastly, the interview that Larry Fink, CEO of Blacrock, gave to the American media this week made it clear that an Ethereum ETF could also be launched in the coming months. Hence investors could push Ether higher with the hope of then selling when an ETF takes off and making a nice profit.
Solana and Bonk
Solana has been seen for years as a possible successor to Ethereum. Cathie Wood’s endorsement in November pushed the coin 70% higher in just a few weeks in December.
Solana’s memecoin Bonk did even better that month, at one point adding 100% in one day. Take notice when both coins start a new rally.
Cardano
During the 2021 altseason, Charles Hoskinson’s coin rose from 30 cents to $3. No one doubts the functionalities of the Cardano blockchain anymore and the coin has been an undisputed presence in the top 10 of Coinmarketcap for years. Keep an eye on this one when a new altcoin rally begins.
