The use of alternative cryptocurrencies (altcoins) and other digital assets for payment has experienced a surge in recent months. Sebastian Serrano, the CEO of one of the largest exchanges in Latem, has confirmed that many Chinese suppliers are now accepting cryptocurrencies as a form of payment from Brazilian companies. In addition to Brazil, Argentina is also exploring the adoption of cryptocurrencies after meeting with the team from El Salvador.
There has been a growing interest in altcoins following the recent approval of an Ethereum ETF. Analysts predict that the upcoming altcoin season will witness significant rallies for certain tokens. Among the altcoins projected to experience massive rallies during the bull run are KangaMoon, Celestia, Binance Coin, Cosmos, and Ethena. Let’s take a closer look at why these altcoins have made it onto the analysts’ list.
KangaMoon: Set to Launch on Top Exchanges, Starting with Bitmart
KangaMoon is a new cryptocurrency project that has generated a tremendous amount of excitement in the altcoin market. Unlike other meme coins that rely on hype, KangaMoon aims to create a highly entertaining and profitable ecosystem for its members. The native token, KANG, is used to reward gamers on the platform and distribute rewards to users.
The KangaMoon platform already boasts over 32,000 members and 10,000 token holders. In addition to earning rewards, active members can participate in a unique referral program that offers free KANG tokens to those who convince others to join the project. To enhance community engagement, KangaMoon has partnered with RaidSharkBot, offering a chance to win a massive $1000 reward for participating in the initiative. Early investors in KangaMoon have already enjoyed significant profits, with the KANG price surging 400% from its initial value. The token, initially sold for $0.0050, is now being sold for $0.025. With the project successfully raising over $7.5 million and aiming to raise $8 million in June, analysts project a 50x price increase in the coming weeks, making it one of the top altcoins to invest in.
Celestia: Expected Price Increase in the Near Future
Celestia is another altcoin that has shown great promise in the market. The Celestia network utilizes a unique approach to process transactions, focusing solely on ensuring that transaction data can be accessed and verified. The native currency, TIA, was launched in October 2023 and serves various functions within the Celestia ecosystem. Developers can use TIA to pay for data services, and the token is deflationary, with periodic burns to stabilize its price.
Technical analysis of Celestia indicates positive price movement. According to CoinMarketCap data, the price of Celestia has surged 433% in the past year and 15% in the past month. The coin is currently trading above the 50-day simple moving average (SMA) and is near the 200-day SMA. Based on its current bullish market sentiment, top crypto analyst CryptoBull believes that a rally of 120-150% is possible in the near future, potentially pushing the price to $20. As a result, Celestia is one of the altcoins to watch out for in June.
Binance Coin: Can It Surge to $1000 by Q3?
Binance Coin (BNB) is among the top 10 altcoins expected to experience a significant rally soon. BNB is the native token of Binance, the world’s largest cryptocurrency exchange. Binance utilizes proof-of-stake and proof-of-authority protocols to validate transactions.
One of the key attractions of the Binance ecosystem is its ability to process thousands of transactions quickly, with low transaction fees compared to other blockchains. The BNB auto-burn feature also helps maintain a balance between supply and demand for the coin.
Recently, the BNB chain experienced a hacker attack, resulting in the theft of over $80,000 worth of Bitcoin. This negative news led to a 3% drop in the BNB price over the past week, with investors’ fears heightened and the trading volume on a downtrend. However, Binance Coin is currently trading above both the 50-day and 200-day SMA, leading analysts to believe that the next bull run could push the price closer to $1000.
Cosmos: ATOM Coin Poised to Reach $15 Soon
Cosmos has been displaying positive signals in the altcoin market in recent weeks. The Cosmos project aims to address fragmentation issues across different blockchains and make blockchain technology accessible and user-friendly for developers. Powered by its native currency, ATOM, Cosmos focuses on scalability and aims to process thousands of transactions per second. The Cosmos Coin can be used to pay for all transactions within the Cosmos ecosystem, and ATOM token holders have the ability to vote on various proposals on the Cosmos hub.
Market analysis indicates that the Cosmos price has established support above $8.60 and is targeting the $10 resistance mark. With increasing trading volume and market cap, the chances of the coin breaking through this key resistance zone are high. According to market data, the Cosmos price has gained 8% in the past month. Experts predict that the price could reach $15 in the coming weeks, especially as the Ethereum ETF begins trading.
Ethena: Set to Break All-Time High
Ethena is an attractive option for investors seeking short and long-term gains in 2024. Despite market uncertainties, the Ethena coin has continued to grow in strength since its launch a few months ago. It has witnessed significant adoption, with a market cap of $1.2 billion, an impressive feat for a new cryptocurrency. The daily trading volume for Ethena exceeds $200 million, making it one of the best altcoins for long-term profitability. However, the Ethena price has experienced a slight drop in the past week due to decreasing market activity.
Ethena Labs has recently unveiled the Blast Layer 2 solution, which will facilitate the mass adoption of USDe and sUSDe. Several Web3 projects, including Thruster and Juice Finance, are set to offer USDe and sUSDe services, increasing the adoption of Ethena tokens across the crypto space. Analysts predict that the coin price could reach $1 in the coming months, positioning it as one of the altcoins poised for growth.
Conclusion
Latin and Asian countries have shown a strong interest in altcoins, with Chinese suppliers already accepting cryptocurrencies as payment. To capitalize on this opportunity, the above-mentioned altcoins are some of the top choices for investors looking to benefit from potential massive rallies in the coming weeks. By investing in these coins ahead of the altcoin season, investors can secure their financial future.
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