Here is the English translation of the text, with the specified terms retained and not translated:
Although a true Altcoin season has not yet occurred as expected by most investors. But the mid-November period has recorded a resurgence of active Altcoin trading across various topics. This is a promising sign, one step closer to the
Altcoin Season.
Not only meme coins, but in reality other topics such as
Layer 1, Layer 2,
Bitcoin Runes,
DeSci, AI meme... all show a significant increase in liquidity.
Altcoin's weekly trading volume exceeds $300 billion
Kaiko's data shows that the trading volume of Altcoin last week reached $303 billion. This is the highest weekly volume since 2021. This volume is higher than the level in March 2024. The chart shows that the weekly Altcoin volume did not increase gradually, but surged in November.
The increase in volume is the clearest sign that investors have returned to trade. Or a new class of investors has started to enter the market. Kaiko's latest
report indicates that investor attention is increasingly shifting towards meme coins.
Specifically, the ratio of new
meme tokens listed on exchanges each month in 2024 reached 4% to 5% of the total listings. Additionally, the market depth of the top 1% of meme tokens on US exchanges (which are more tightly regulated platforms) has increased from $10 million to $110 million this year.
Altcoin capitalization (TOTAL2) is expected to return to its 2021 peak soon
According to technical analysis theory, increasing volume while prices rise is a strong bullish signal. This is happening with Altcoins in general. Investor Moustache's (@el_crypto_prof) analysis suggests the possibility of TOTAL2 capitalization returning to its 2021 peak soon.
In fact, TOTAL2 capitalization (excluding Bitcoin) has already reached $1.21 trillion, effectively returning to the March 2024 peak, but still needs to increase by 40% further to return to the 2021 peak of $1.7 trillion. The technical observation suggests that the bullish crossover signal of the 2-week MACD-H indicator is an indicative bullish scenario.
Many signs indicate the emergence of a new class of investors
BeInCrypto has observed several signs indicating that a new generation of investors is entering the market. For example,
- Exchange apps like
Coinbase, Robinhood have topped the global app rankings.
- Tether has printed over $8 billion USDT in November.
- Google Trend searches for the keyword "Buy Bitcoin" have spiked dramatically.
-
Bitcoin trading volume under $100,000 has reached the highest level in the past 3 years.
Intocryptoverse's observation shows that the growth in new followers of top Crypto market KOL accounts on the X platform has been the strongest since 2023. All of these signs indicate that many new people have started trading, driving up volume and liquidity.
Looking further ahead, investor Mello is cautious as the market enters a
FOMO wave. Mello's comment has attracted over 1 million views on the X platform.
"Sell EVERYTHING when: Coinbase is the #1 app in the app store. You see crypto news on Instagram. Random tiktokers are trading memecoin. Everyone around you is talking about crypto (at the grocery store, gym, etc.). People are messaging you for advice. Everyone is making money. The market will peak when these signs align" - Investor Mello
commented.
Also Read:
Notable TGE projects this week: Bitfinity, Zyfi, MicroGPT
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