We have asked ourselves the same question repeatedly: When is altcoin available?
David did a great job describing what would be needed for the next altcoin craze to take off. Jupiter Zheng, from HashKey Capital, gave me some insight on the level of optimism that people should have.
Zheng, David and HashKey agree on when the next altcoins season could begin. HashKey has also put together a report explaining why the team is bullish about altcoins at the moment.
Part of it is the potential for bitcoin’s dominance to peak, which — if you’re a regular Empire reader — you know is one of the necessary ingredients for altcoins to take off.
Zheng says that once we reach a bitcoin dominance of 60% or even 65% he will be able to predict a. “massive altcoin season” Start. BTC dominates the market at 61.6%.
Zheng listed three areas he will be watching for success: Ethereum, Solana, and certain tokens such as UNI (formerly MKR) and SKY in DeFi.
Ethereum will be our first choice, mainly because more and more people seem to be abandoning the bull market.
HashKey claimed that three factors are responsible for the demise of Ethereum. These include increased competition, value diversion, and lower transaction fees.
“Currently, the Ethereum community is developing metrics to measure ‘Ethereum alignment,’ and it is anticipated that best practices will emerge from these efforts, further consolidating Ethereum’s ecosystem and ensuring long-term success,” The report said.
Solana is a a “major fundamental play,” Ethereum is not the same as Ethereum. “distressed play.”
“Solana has been achieving a lot of things this year, and — compared to Ethereum — Solana is a little bit centralized, but it’s very efficient. So, Solana is strong in its operational capabilities. Ethereum is more focused on the tech … technical layers and decentralized layers and security layers, but Solana is more focused on how to deliver mass adoption,” Zheng explains to me.
Zheng also believes that it will be the coin selected next for an ETF after the ETH and BTC fund.
Rounding off, “many DeFi projects from the last cycle have gradually become foundational infrastructure and have crossed cycles, forming a ‘must-have’ landscape,” HashKey writes.
Zheng is not so positive about everything.
Layer-2s as an example. Investors can only focus on so many. There are still many more. “top 5 or top 10 will be valuable,” He explained.
He offers a suggestion to solve the problem: “If we try to select the best layer-2s from the 100 [on offer], It’s quite hard, so maybe just pick the top ones, just like we picked the Magnificent Seven from the US stock market.”
Who wants to choose the name of the child?
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