CryptoQuant founder Ki Young Ju has made known a common trend among crypto inventors, suggesting that they are preparing for a possible altcoin price rise. He stressed that the current increase in buy-limit orders from large investors is fueling this trend.
In a tweet on X (formerly known as Twitter), Ju gave an analysis focusing on a key metric that looks at the difference between buy and sell orders for altcoins over the past year.
According to Ju, altcoins like Solana (SOL), Cosmos (ATOM), Polygon (MATIC), and Cardano (ADA), are expected to benefit the most from this growing interest. These cryptocurrencies are seeing strong buy support and could see price increases as a result.
On the other hand, some tokens, such as XRP, Chainlink (LINK), and Binance Coin (BNB), are not experiencing the same level of buying interest, which means that they might not see as much of a boost in the future.
To support this analysis, crypto analyst Jamie Coutts has pointed to the Top 200 Equal Weight Index, which measures the performance of the top 200 altcoins compared to Bitcoin. A recent drop in this index could mean that the altcoin market is at a low point, possibly setting the stage for a rally.
Additionally, well-known crypto trader “Mags” has noted that the altcoin market is currently in a re-accumulation phase. Mags mentioned that altcoins have only risen about 58% on average since emerging from a long period of stable prices, suggesting that a minor pullback now could lead to further gains.
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