The post Investors’ Interest in These Altcoins Is Exploding—Can We Consider These Before the Start of Bull Run? appeared first on Coinpedia Fintech News
Crypto markets have triggered a recovery after the bearish weekend. While the bearish start haunted the entire crypto space, the fresh price surge has displayed a ray of hope for the market participants. As predicted in our previous composition, the Bitcoin price dropped below $35,000, tested the lower support of the channel, and is trying hard to validate a bullish rebound.
In the meantime, some of the altcoins have recorded a significant rise in demand, and hence, it is anticipated that these tokens may thrive in the upcoming bull run.
The crypto market capitalisation has dropped by nearly 1.52% at the moment, while the trading volume has surged by over 23% compared to the previous trading day. While the top 10 tokens have remained under the bearish influence, some have managed to tease the selling pressure. Altcoins like Solana, Celestia, Kaspa, Thorchain, etc., and a few more have registered some of the best recoveries.
The soaring demand for these altcoins can be considered a bullish indicator, as investors may have kept a close watch on them. A steep rise in demand soon after the dip indicates these altcoins could set up a strong base for the upcoming bull run.
Solana is the 5th most traded asset after the stablecoins, Bitcoin & Ethereum, at the moment. The trading volume had dropped with the recent drop from the highs at $63.42 by nearly $1.5 billion. However, after the fresh rebound, the volume has again spiked from $2.33 billion to over $3 billion at the moment. The SOL price has been closely monitored by investors, as the volume has remained within the top 10 for a long time.
XRP has been gaining more attention ever since the updates over the Ripple vs SEC lawsuit made significant rounds. The volatility of the token has risen notably in the past few months, while the fresh pullback has dragged the price below the recovery phase. Although the recovery that began at the start of the present trading day does not substantiate a recovery, it is enough to halt the bearish influence.
The Thorchain price has been printing massive bullish candles ever since it surpassed $1 after breaking the prolonged consolidation. After the token experienced some bearish pressure, the volume dropped from $33.79 million to $19.3 million. However, the recovery lifted the volume back above $24, which caused the price to trigger a healthy rebound. Presently, the buying pressure has piled up, which suggests the token maintains a continued uptrend.