Bitcoin’s dominance over the crypto market has fallen slightly from its peak of 55% to 53%. Meanwhile, the total capitalization of altcoins remains above $700 billion. Investors are now looking forward to an altcoin season. According to crypto expert Vinicius Barbosa, the two tokens are worth throwing into the basket for the next altseason.
Nano (XNO) is first on the expert’s list
Nano was recently stated by Elon Musk’s artificial intelligence Grok as the most suitable cryptocurrency for payments. A few days later, many platforms such as GNY Range Report, MEXC, and Onramp Money announced their coverage and listings. Meanwhile, XNO was trading at $1.31 as of press time, up 19.21% on the day. Additionally, Nano is up 92% year-to-date (YTD). Thus, it fell behind altcoin projects with higher capitalization such as AVAX.
XNO daily price chart. Source: CoinMarketCapIn particular, the most significant increase occurred in stock market volume. Nano’s 24-hour volume currently stands at $68.63 million. Additionally, it is among the top 93 cryptocurrencies in terms of volume. This means a volume of 47.26% compared to the market cap of $168.55 million. Meanwhile, XNO is up 60% against BTC since December 11. It was trading at 0.000031168 BTC at the time of publication, compared to a price of 0.000019452 BTC two days ago.
XNO/BTC daily chart on Kraken. Source: TradingViewSecond ranked altcoin: Avalanche (AVAX)
On Avalanche, Onyx, the blockchain arm of JPMorgan Chase & Co, announced it was joining its ecosystem in November. Onyx leveraged Avalanche across relevant traditional financial institutions, enabled by Avalanche’s sub-net technology. It is noteworthy that AVAX is trading at $39.88 at the time of writing. Avalanche’s native token, AVAX, is up 266% YTD, given a price of $10.89 per token at the beginning of the year.
Avalanche (AVAX) YTD price chart.Avalanche, in particular, shines in the decentralized finance (DeFi) ecosystem. The altcoin is among the top seven Blockchains with a total value locked (TVL) of $837.97 million. This value is distributed across 349 protocols and collects more than $211,500 in fees in one day. Moreover, the token has a market cap that is 15.69 times higher than its TVL. This is a better ratio than its main rival Solana (SOL).
The 7 best DeFi projects. Source: DefiLlamaHowever, investors should be cautious. Investors should conduct due diligence and develop a solid risk management strategy for each altcoin project. Because despite positive indicators for altcoins, there are no guaranteed outcomes in the volatile crypto market.
The opinions and predictions in the article belong to the expert and are definitely not investment advice. As Kriptokoin.com, we recommend that you do your own research before investing.
25442
