CandleFocus Why Are Altcoins Rising? Has the Alt Rally Begun? Here is a New Report from an Analytics Company
2024-11-27
Author: Content Editor
In the last 24 hours, Ethereum, Cardano, and Solana have seen notable increases in their prices, with Ethereum experiencing a 10% rise compared to Bitcoin's 4% increase. Market analysts attribute this increase to crypto capital rotation, with funds shifting from Bitcoin to Ethereum and other altcoins. The rise in Ethereum's price is accompanied by growth in the decentralized finance (DeFi) sector, as shown by the 7% increase in Ethereum's total value locked (TVL) in DeFi protocols. Experts predict that once Bitcoin stabilizes and exhibits sideways movements, the interest will shift to altcoins, potentially leading to a rally. However, breaking the $100,000 resistance level may be necessary for this rally to occur.
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