FET, AAVE, DOGE lead altcoin accumulation – Will it trigger a new altseason?
The post FET, AAVE, DOGE lead altcoin accumulation – Will it trigger a new altseason? appeared on BitcoinEthereumNews.com. Key Takeaways Market data showed massive accumulation for several altcoins. In fact, a positive impulse signal for alts was triggered, suggesting that we could soon witness an explosive altseason. Selected altcoins have outperformed Bitcoin [BTC] after it printed a new record high recently. And the 2% drop in BTC dominance showed that a small capital rotation from BTC to altcoins had happened. But a larger rotation could soon follow. In a recent report, CryptoQuant analyst Joao Wedson highlighted massive accumulation across Aave [AAVE], Dogecoin [DOGE], Maker [MKR], Chainlink [LINK], Artificial Superintelligence Alliance [FET], and more. Source: CryptoQuant The red bars show outflows (accumulation) of tokens moved from exchanges to users’ wallets. Binance saw more outflows than inflows, suggesting growing conviction of a likely surge. Positive altcoin shift confirmed? Worth pointing out that there have been several altcoin season calls in H1, and none have materialized similar to last November’s broader market surge. A select number of altcoins like Hyperliquid [HYPE] raked in triple-digit rallies, while others dumped harder. So, is this time any different? Well, Swissblock data suggests so. The crypto insights firm flagged that 15% of the top 100 altcoins had a positive impulsive signal per its proprietary model. It added, “We’re in an early altcoin recovery cycle. Impulse awakening: 15% of top 100 alts show positive impulse—rotation is starting.” Source: Swissblock Per Swissblock, the same impulse signal was flagged before last November’s altcoin bull run. This meant that we could be in the early innings of a strong altcoin season. Additionally, the buying power and rotation have been happening subtly since mid-June. Notably, the USDT dominance has dropped from 5% to 4.5% since late June. When tracked from April, USDT.D has declined by 2.5% from 6% to 4.5%. This marked the Q2 bottom and subsequent recovery into Q3. It meant…
The post FET, AAVE, DOGE lead altcoin accumulation – Will it trigger a new altseason? appeared on BitcoinEthereumNews.com.
Key Takeaways Market data showed massive accumulation for several altcoins. In fact, a positive impulse signal for alts was triggered, suggesting that we could soon witness an explosive altseason. Selected altcoins have outperformed Bitcoin [BTC] after it printed a new record high recently. And the 2% drop in BTC dominance showed that a small capital rotation from BTC to altcoins had happened. But a larger rotation could soon follow. In a recent report, CryptoQuant analyst Joao Wedson highlighted massive accumulation across Aave [AAVE], Dogecoin [DOGE], Maker [MKR], Chainlink [LINK], Artificial Superintelligence Alliance [FET], and more. Source: CryptoQuant The red bars show outflows (accumulation) of tokens moved from exchanges to users’ wallets. Binance saw more outflows than inflows, suggesting growing conviction of a likely surge. Positive altcoin shift confirmed? Worth pointing out that there have been several altcoin season calls in H1, and none have materialized similar to last November’s broader market surge. A select number of altcoins like Hyperliquid [HYPE] raked in triple-digit rallies, while others dumped harder. So, is this time any different? Well, Swissblock data suggests so. The crypto insights firm flagged that 15% of the top 100 altcoins had a positive impulsive signal per its proprietary model. It added, “We’re in an early altcoin recovery cycle. Impulse awakening: 15% of top 100 alts show positive impulse—rotation is starting.” Source: Swissblock Per Swissblock, the same impulse signal was flagged before last November’s altcoin bull run. This meant that we could be in the early innings of a strong altcoin season. Additionally, the buying power and rotation have been happening subtly since mid-June. Notably, the USDT dominance has dropped from 5% to 4.5% since late June. When tracked from April, USDT.D has declined by 2.5% from 6% to 4.5%. This marked the Q2 bottom and subsequent recovery into Q3. It meant…
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