Is It Time for These 10 Altcoins to Shine?
Alex Moschina|May 29, 2024
It’s a short trading week.
Well, it is for stocks anyway. Crypto doesn’t take days off. Which is why – in addition to smoked ribs and yardwork – my Memorial Day weekend was filled with push notifications about Ethereum (ETH)’s big price jumps.
To be fair, the action wasn’t unexpected.
Ethereum investors went into the weekend riding high on news that the SEC had approved nine Ethereum spot ETFs for trading on the Nasdaq, CBOE and NYSE.
By Monday afternoon, Ethereum’s price had soared to more than $3,960.
We’re once again approaching the all-time highs the crypto posted back in 2021.
And all that bullish action won’t just be good for folks who already own the world’s second largest cryptocurrency…
It’s sure to be a boon for many altcoins as well.
“Historically, when major cryptocurrencies like Bitcoin or Ethereum rally, they often pull the rest of the market up with them,” said Robert in yesterday’s Total Wealth. “This phenomenon is known as the ‘alt season,’ where investors seek out higher returns in smaller, more volatile coins once the larger assets have shown substantial gains.”
If you don’t know what an altcoin is, don’t worry. The definition is simple. An altcoin is any cryptocurrency or digital token that isn’t Bitcoin.
As Ethereum moves up in the world, it may eventually squeeze its way out of the “altcoin” box it’s in. But even while these two ultra-popular cryptos hog the conversation among the mainstream financial media…
Don’t let that distract you from the fact that serious money flows into lesser known cryptos. The top 10 altcoins – sorted by market cap – are all worth tens and even hundreds of billions of dollars.
Robert’s predicting valuations among certain altcoins will soar as “alt season” kicks into gear.
If you missed it, keep scrolling for the link to his latest piece about what’s happening… plus his three-part strategy to take advantage of the rally.
Alex Moschina
Alex Moschina is the associate publisher of Manward Press. A gifted writer, editor and financial researcher, Alex’s career in publishing began more than a decade ago when he worked at one of the world’s leading providers of academic research and reference materials. Alex first cut his teeth in the realm of investing when he joined the team at White Cap Research in 2010. There he was charged with covering emerging market trends and investment opportunities. A stint as senior managing editor and editorial director at the prestigious Oxford Club followed. A frequent speaker at conferences and events, Alex has led educational workshops across the U.S. and Canada.
