You can also read this news on COINTURK NEWS: Solana and Sui Show Promising Signs for Altcoin Investors
Despite significant corrections in the altcoin market, Solana (SOL) and Sui (SUI) are displaying strong recovery signals. The current market scenario resembles the bullish trends seen in 2017 and 2021, suggesting a potential resurgence for these cryptocurrencies.
Excluding Bitcoin and Ethereum, the TOTAL 3 market capitalization metric indicates robust momentum in the market. Crypto analyst Daan Crypto Trades highlighted that analyzing TOTAL 3 in relation to Bitcoin’s price could provide valuable insights into altcoin market momentum against Bitcoin.
The analyst noted that in both 2017 and 2021, altcoins initiated impressive rallies approximately a month after Bitcoin broke its then-all-time high of $20,000.
Additionally, Binance‘s dominance in altcoin trading volume has reached 78%, potentially signaling a strong bull market by 2025. Recently listed coins such as AIXBT, CGPT, and COOKIE AI on Binance have shown significant gains of 50% or more.
“The consistent increase in altcoin trading volume on Binance reinforces confidence in a potential altcoin bull market by 2025. As individual investor interest rises, the altcoin market could gain strong momentum in the coming months.” – Daan Crypto Trades
According to recent data from Artemis, Solana (SOL) and Sui (SUI) have witnessed strong inflows in the last 24 hours, while Ethereum (ETH) experienced significant outflows. This reflects a change in investor sentiment and capital movements.
Market data shows Solana’s price has fallen by 4% below $180, while Sui’s price has decreased by 9% to $4.40. However, popular analyst Crypto Patel anticipates that SOL could rise to $500 and SUI could exceed $10.
Investors can closely monitor the market movements of Solana and Sui to evaluate the potential of these cryptocurrencies. The trading volume on Binance and new coin listings provide supportive factors for an impending altcoin rally.
The post Solana and Sui Show Promising Signs for Altcoin Investors appeared first on COINTURK NEWS.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.