Ghost

Solana

Bitcoin

Toncoin

Time

<ul> 
 <li aria-level="1">TON records a 335.57% increase from January to June, with Open Interest rising sharply, indicating strong investor interest.</li> 
 <li aria-level="1">Solana’s price surged from $12 to $210 in seven months, a 1542% increase, now showing signs of consolidation.</li> 
</ul> 
Solana (SOL) and Toncoin (TON) are emerging as leaders in what may soon be an altcoin season. 
<figure id="attachment_88231" aria-describedby="caption-attachment-88231" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-88231" src="https://www.ethnews.com/wp-content/uploads/2024/08/bitcoin-dominance_Coinmarketcap-scaled.jpeg" alt="bitcoin-dominance_(Coinmarketcap)" width="2560" height="1365">
 <figcaption id="caption-attachment-88231" class="wp-caption-text">
 Source: Coinmarketcap
 </figcaption>
</figure> 
This phase, where altcoins typically experience significant appreciation, is often triggered by a reduction in Bitcoin’s market dominance, which has recently dropped by 0.26%. 
<figure id="attachment_88227" aria-describedby="caption-attachment-88227" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-88227" src="https://www.ethnews.com/wp-content/uploads/2024/08/market-cap_20130428_20240822_Coinmarketcap-scaled.jpeg" alt="market-cap_20130428_20240822_(Coinmarketcap)" width="2560" height="1365">
 <figcaption id="caption-attachment-88227" class="wp-caption-text">
 Source: Coinmarketcap
 </figcaption>
</figure> 
Currently, the total crypto market capitalization stands at $2.11 trillion, reflecting a 1.56% decrease over the past 24 hours. 
Analysts like Moustache are <a href="https://x.com/el_crypto_prof/status/1825995869444776060">pointing</a> to specific technical indicators that suggest TON and SOL are well-positioned for the next rally.&nbsp; 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw">#Altcoins</a> 
 Crypto is a Ghost Town and Altcoins are on the verge of breaking out of a falling wedge that has been in the making for 9 months. 
 Can you also see the other huge triangle?<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f440.png" alt="👀" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> 
 I think a lot has been demanded of us in recent months. 
 Time for a U-turn. <a href="https://t.co/WergTUpKBK">pic.twitter.com/WergTUpKBK</a> 
 — 𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f9f2.png" alt="🧲" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@el_crypto_prof) <a href="https://twitter.com/el_crypto_prof/status/1825995869444776060?ref_src=twsrc%5Etfw">August 20, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
For instance, TON has recorded <a href="https://www.ethnews.com/massive-moves-imminent-for-toncoin-what-you-need-to-know-now/">impressive gains</a> this year, with a 335.57% rise from January 1 to June 10, and despite a subsequent correction, it maintains a robust market valuation of $16 billion.&nbsp; 
<figure id="attachment_88235" aria-describedby="caption-attachment-88235" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-88235" src="https://www.ethnews.com/wp-content/uploads/2024/08/ton-chart-trading-e1724258151729.png" alt="ton-chart-trading" width="1280" height="591">
 <figcaption id="caption-attachment-88235" class="wp-caption-text">
 Source: tradingview
 </figcaption>
</figure> 
The significant increase in Open Interest for TON—from $912.34K to $20.17 million in less than a month—signals a growing bullish sentiment among investors. 
<figure id="attachment_88239" aria-describedby="caption-attachment-88239" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-88239" src="https://www.ethnews.com/wp-content/uploads/2024/08/descarga.png" alt="TON Futures Open Interest (USD)" width="1360" height="350">
 <figcaption id="caption-attachment-88239" class="wp-caption-text">
 Source: Coinglass
 </figcaption>
</figure> 
On the other hand, <a href="https://www.ethnews.com/is-solana-the-new-gold-commodity-status-could-change-everything/">Solana’s trajectory</a> has been marked by a sharp increase from $12 to $210 between June 2023 and January 2024, translating to a 1542% rise.&nbsp; 
Although SOL has been consolidating since January, the pattern of accumulation noted among substantial traders suggests preparation for another substantial price movement. 
<figure id="attachment_88243" aria-describedby="caption-attachment-88243" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-88243" src="https://www.ethnews.com/wp-content/uploads/2024/08/sol-trading-chart-e1724258620413.png" alt="sol-trading-chart" width="1280" height="593">
 <figcaption id="caption-attachment-88243" class="wp-caption-text">
 Source: Tradingview
 </figcaption>
</figure> 
Tools like the Accumulation and Distribution indicator have shown consistent higher highs in Solana’s <a href="https://www.ethnews.com/is-solanas-big-rebound-around-the-corner-john-bollinger-thinks-so/">trading activities</a>, underlining a strong accumulation phase. 
The backdrop of decreasing Bitcoin dominance is critical as it often precedes a flourishing altcoin season. This environment allows for increased liquidity and investor interest in altcoins, which can lead to dramatic increases in their valuations. 
As the market stands, both TON and SOL are not just surviving but seemingly preparing for substantial upward movements. 
<figure id="attachment_88247" aria-describedby="caption-attachment-88247" style="width: 100%" class="wp-caption aligncenter">
 <img decoding="async" class="size-full wp-image-88247" src="https://www.ethnews.com/wp-content/uploads/2024/08/ton-sol-chart-coinmarketcap.png" alt="ton-sol-chart-coinmarketcap" width="955" height="543">
 <figcaption id="caption-attachment-88247" class="wp-caption-text">
 Source: Coinmarketcap
 </figcaption>
</figure> 
 Investors and market participants are closely watching these developments, as breaking certain technical patterns could herald the start of an aggressive bull run for these altcoins. 
Should the support levels currently being tested hold firm, the crypto market may witness a significant rally, with TON and SOL potentially setting new all-time highs. 
The post <a href="https://www.ethnews.com/is-it-altcoin-time-solana-and-toncoin-set-to-skyrocket-as-bitcoin-falters/">Is It Altcoin Time? Solana and Toncoin Set to Skyrocket as Bitcoin Falters!</a> appeared first on <a href="https://www.ethnews.com">ETHNews</a>.

Is It Altcoin Time? Solana and Toncoin Set to Skyrocket as Bitcoin Falters!

ETHNews

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