CandleFocus Altcoin searches soar as Bitcoin holds steady at $97K, searches hit record high
2024-12-05
Author: Content Editor
The interest in altcoins is growing rapidly, as seen in increased Google search trends and high market turnover. While Bitcoin remains relatively stable, the altcoin market is gaining attention from retail traders and analysts, raising expectations of an altseason. Search interest for altcoins peaked in November and reached 100 in early December. The surge in search volume suggests involvement from retail investors, similar to the 2016/2017 bull cycle. Some top-performing altcoins include XRP, XLM, Binance Coin (BNB), and Tron (TRX). Analysts are monitoring market breadth and the Alt Season Indicator to determine the start of an altcoin season. The transfer of assets from Bitcoin to altcoins is not the main market driver, according to a CEO, but rather stablecoin liquidity and fiat pairs are driving the increase in altcoin trading volume, suggesting a shift to real-world application and unique features of altcoins.
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