ETH & ADA Poised to Lead Next Altcoin Season, Says Crypto Analyst
tl;dr
ETH and ADA could be the ‘first movers’ in the upcoming altcoin season. Despite recent price increases, Ethereum and Cardano have not yet made significant moves to confirm the expected altcoin season, according to crypto analyst Dan Gambardello. Bitcoin’s dominance is still high, suggesting that the impressive performances of many altcoins could be just a taste of what’s to come when the altcoin season is in full swing.
ETH and ADA could lead the altcoin rally
Altcoin season is a term from the crypto world that refers to a phase in a market boom cycle where alternative cryptocurrencies outperform Bitcoin. Historical data shows that the boom starts with capital flowing first into ETH. In the last bull cycle, ETH led the rally, but was also accompanied by ADA’s breakout. This time could be no different.
Market participants are keeping an eye on ADA and ETH
According to the results from Santiment, ADA’s weighted sentiment was 0.918. ETH also had a positive weighted sentiment. These metrics suggest that most traders are bullish on the Ethereum and Cardano ecosystems. If this sentiment remains, buying pressure for the cryptocurrencies could be created.
Realistic or not, here’s ADA’s market cap in ETH terms
At the time of publication, the volume of Ethereum was $15.62 billion. If this volume is linked to the price, it could trigger an upswing. If ADA’s volume continues to rise along with the price, it could break the overhead resistance.
Our assessment
It’s still too early to definitively say whether ETH and ADA will take the lead in the coming altcoin season. However, current market trends and the positive sentiment of market participants suggest that this is quite possible. As always, investors should conduct their own research and carefully consider their investments.
Sources: Victor Olanrewaju, Ann Maria Shibu, Dan Gambardello, CoinStats, Santiment.
| Symbol | ETH |
| Coin type | Alt Coin |
| Transaction Speed | Medium |
| Pros |
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| Cons |
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| Price | $3,130.05 |
| 24h % | -1.24 % |
| 7d % | -4.05 % |
| 30d % | 16.18 % |
| 60d % | 22.81 % |
| 1y % | 58.98 % |
| Market Cap | $376,057,058,512.00 |
| Official Links | Website | Source Code |
| Socials | Reddit | X |
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