In the current bull cycle, there were no large -scale technological breakthroughs and hype trends, by analogy with Defi or Gamefi, which would stimulate the growth of altcoins. This was stated by the commercial director of the cryptocurrency exchange OKX Lennix Lai.
He noted that, contrary to expectations, the launch of spotto bitcoin and Ethereum-ETF in 2024 did not contribute to the start of Alseson. The price of ETH is currently about $ 2,000, for a year, sagging by almost 40%. Bitcoin, despite the correction in recent weeks, is traded 30% higher than a year earlier.
The second reason for the weak dynamics of alternative coins of bark named the focus of investors on Bitcoin as on the safest asset in the context of economic uncertainty.
The expert explained the weak results of Ethereum in the current cycle with the general volatility of the market and increased competition from SOLANA. However, he noted that the upcoming upgrade Pectra can serve as an pulse for the growth of the price of ETH.
Lai made the return of investors’ interest in altcoin and recommended tracking the readings of the Altcoin Season Index indicator.
Another harbinger of altsyzon can be the growth of the ETH/BTC pair – as a signal for confidence in altcoin through the second asset of capitalization, barking added.
On March 24, Bitcoin was fixed above $ 87,000 amid weakening fears regarding the introduction of US Duties.
From March 15 to 21, the net inflow of funds in cryptocurrency investment funds amounted to $ 644 million, interrupting the five -day outflow period.
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Source: Cryptocurrency
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