The Sandbox

Bull Market

April

Axie Infinity

Stellar

<p>The crypto market experienced a slow expansion in the first quarter of 2024. Bitcoin reached a new all-time high close to $75,000, but altcoins moved in different scenarios. Some assets reached all-time highs within weeks, while others extended their long period of sideways trading.</p>
<p>By looking at the list of smaller assets, traders may find value in unique, riskier assets that could yield high returns.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">The Four Phases of an <a href="https://twitter.com/hashtag/Altcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#Altcoin</a> Bull Market <br><br>i) Accumulation : This is where price bottoms out after a long bear market. Prices consolidate and break the downtrend during this period.<br><br>ii) First Leg up : Here, prices begin to surge, but many retail investors fail to recognize… <a href="https://t.co/h1RQxc6eOX" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/h1RQxc6eOX</a></p>— Mags (@thescalpingpro) <a href="https://twitter.com/thescalpingpro/status/1783205590547980693?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">April 24, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>“Altcoin season” is still a thing in crypto, and traders are watching for this scenario to unfold in 2024.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#Altcoins</a> <br><br>Altcoins have their fun every 4 years.<br><br>1.Years of accumulation✅<br>2.Backtest🔄<br>3.FULL SEND🎯<br><br>We're about to reach point 3. <br><br>Ready? <a href="https://t.co/YbHuTUNtl0" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/YbHuTUNtl0</a></p>— 𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 🧲 (@el_crypto_prof) <a href="https://twitter.com/el_crypto_prof/status/1781325458623054244?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">April 19, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>The exact details of the next bull market are unknown, and some categories may have stronger performers. But the overall expectation takes into account the usual rally of altcoins following each Bitcoin all-time high.</p>
<h2 class="wp-block-heading" id="another-dip-before-full-send">Another Dip Before Full Send?</h2>
<p>The altcoin boom pattern may not play out smoothly without some turbulence. One possible scenario is a price dip, which would extend the period of accumulation. Money inflows from Tether (USDT) are also a key indicator of an altcoin bull cycle. In previous market booms, Tether spending proved to be the main booster of altcoin performance.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">The Four Phases of an <a href="https://twitter.com/hashtag/Altcoin?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">#Altcoin</a> Bull Market <br><br>i) Accumulation : This is where price bottoms out after a long bear market. Prices consolidate and break the downtrend during this period.<br><br>ii) First Leg up : Here, prices begin to surge, but many retail investors fail to recognize… <a href="https://t.co/h1RQxc6eOX" rel="noopener noreferrer nofollow" target="_blank">pic.twitter.com/h1RQxc6eOX</a></p>— Mags (@thescalpingpro) <a href="https://twitter.com/thescalpingpro/status/1783205590547980693?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow" target="_blank">April 24, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>In 2024, Tether introduced more than 110B USDT in circulation. In the current bull cycle, there are more assets to go around when the most active stage arrives for altcoins.</p>
<h2 class="wp-block-heading" id="have-altcoins-capitulated-gwmw-style-display-none-gwmw">Have Altcoins Capitulated?<gwmw style="display:none;"></gwmw></h2>
<p>Some of the hottest assets from previous bull cycles now have significant losses. Networks like Stellar (XLM) are down nearly 87% from their all-time high, close to a capitulation-level loss. Changed regulations, new assets, and a new type of buyer may mean older blue chip coins may not return.</p>
<p>Former star tokens include Algorand (ALGO), Aave (AAVE) and Hedera (HBAR). There are also several categories that are still drifting sideways. Game and play-to-earn tokens are now settled at a low baseline, awaiting their next move. A powerful bull market could lift assets like Axie Infinity (AXS), The Sandbox (SAND) and ImmutableX (IMX).</p>
<p>One of the categories to benefit quickly from bullish moods are the native exchange coins and tokens. <a href="https://www.binance.com/en/markets?ref=16863683" rel="noopener noreferrer nofollow" target="_blank">Binance</a> Coin (BNB) holds strong above $600, but a bull market could take up OKX and <a href="https://www.kucoin.com/?rcode=xPuvyh" rel="noopener noreferrer nofollow" target="_blank">KuCoin</a> (KCS) to higher positions.</p>
<p><strong>Special-Interest Tokens Remain a Challenge</strong></p>
<p>In the past two years, several batches of special-interest tokens came to the markets. It was not unusual that those tokens went through a fast boom-and-bust cycle. But some managed to hold on, potentially drawing in renewed investments.</p>
<p><a href="https://coinmarketcap.com/view/ai-big-data/" rel="noopener noreferrer nofollow" target="_blank">AI tokens</a> were one of the big trends, as there were both new assets and rebranded older tokens from the previous token sale boom. The AI token valuation is only growing, and there is a cross-over between projects dealing with data science, or tokens tied to generative AI.</p>
<p><a href="https://coinmarketcap.com/view/telegram-bot/" rel="noopener noreferrer nofollow" target="_blank">Telegram bot tokens</a> remain in the niche, with a total market cap under $1B. Some of those tokens are risky and illiquid, so traders may prefer Telegram (TON) as a direct investment.</p>
<p><a href="https://coinmarketcap.com/view/web3/" rel="noopener noreferrer nofollow" target="_blank">Web3 tokens</a> include projects that build infrastructure for distributed apps. Those networks aim to provide tools for cheap, speedy transactions. Web3 tokens may benefit in 2024 from sub-project launches, meme tokens, NFT collections and distributed apps that use their technology.&nbsp;</p>
<p>Altcoins will have disparate narratives during the current bull cycle, but traders may be ready for multiple tokens to go vertical during the most active phase of the market.</p>

Altcoins Almost Ready for the Most Active Part of the Bull Cycle, Accumulation Period May Be Completed

Table of Contents

Cryptopolitan_News

Other articles published on Apr 25, 2024

Nearly $500 Million In Ethereum Transferred to Justin Sun-Linked Wallet

Morgan Stanley Explores Letting Its 15,000 Brokers Recommend Spot Bitcoin ETFs To Clients

39% of Canada’s institutional investors have exposure to crypto: KPMG

SKALE and Virtualness global partnership reimagines fan engagement for sports, creators, and ente...

Exploring the Impact of Stagflation on Bitcoin Prices

Spot Ethereum ETFs reportedly facing potential SEC denial

Join our free newsletter for daily crypto updates!