Strong future growth prospects and new institutional investments appear to be backing the rally from WAVES, INJ and CELO.
Bitcoin (BTC) expanded its aid rally on Tuesday and reclaimed a market capitalization above $1 billion.
When many traders panicked during Bitcoin's recent collapse under $47,000, finance manager Dan Tapiero said that he spotted a rare TD sequential purchase signal throughout the low. The last time this sign was seen was in March 2020 when Bitcoin cost traded around $3,600. Tapiero believes Bitcoin stays on target to achieve $100,000 this past year.
However, even following the recent increase above $55,000, Bitcoin's marketplace dominance continues to lag at 49.5%, according to CoinMarketCap data. This shows that crypto investors are focusing on altcoins, together with several hitting new all-time highs.
The altcoin season is not completely driven by retail investors. A recent report by crypto investment advisory firm Two Prime Digital Assets highlights that the eightyfold increase in Ether (ETH) alternatives available interest, from $50 million to $4 billion annually, points toward hedging by institutional money managers to protect their"net long portfolios against oversized volatility occasions." Even the Ether futures market has improved by 20, cementing the involvement of institutional investors.
Maintaining the attention of altcoins, let's examine the fundamentals and technicals of 3 tokens which have performed in the past couple of days.