Crypto bottom? Is it the right time to start buying altcoins? These are some of the questions investors are grappling with right now. While crypto prices remain low, there is a good chance that the bottom of the cryptocurrency is in. One of the signals of such a possibility is that Bitcoin whales are increasingly moving their coins to derivatives exchanges.
Is the altcoin market bottoming out?
This time is usually when the bottom is at the bottom and buyers are waiting for a new speculative rally. At the same time, the upcoming Ethereum merge has given new life to the cryptocurrency market after volumes hit new lows in the past few months. Some low-flying cryptocurrencies could explode in the coming weeks if the bulls regain full market control. Here are some of the ones you should watch today.
Three altcoin projects for the coming weeks
Binance Coin (BNB)
Binance Coin (BNB) is currently trading in the general direction of the market. However, its position will become stronger, especially if the market moves upwards along with it. One of the major news was the network upswings that many Blockchains are currently in. One of these upgrades is the release of the zkBNB testnet. This allows BNB to scale better, handling up to 100 million addresses and 10,000+ transactions per second.
Considering that scalability is one of the challenges faced by many cryptocurrencies, this upgrade is quite significant. Crypto analyst Motiur Rahman says that with these upgrades, BNB will move forward for the rest of the year:
That and BNB is a deflationary cryptocurrency, making it one of the top cryptocurrencies to consider, not just in September but the rest of 2022.
Ergo (ERG)
Ergo (ERG) came into the limelight after Cardano founder Charles Hoskinson spoke about the Ethereum merge. Hoskinson believes it would be better for Ethereum miners to switch their machines to Ergo instead of Ethereum Classic, which he calls dead chain.
While this is just an opinion and has no real impact on the market, it’s important to note that Hoskinson is one of the strongest voices in crypto. Therefore, his views on Ergo led investors who did not know him to buy. Therefore, it is a cryptocurrency worth checking out today as bullish signals are starting to appear in the market.
Polkadot (DOT)
Polkadot (DOT) is basically one of the strongest cryptocurrencies on the market today. However, it has been flying low for the past few months. Also, there is no significant activity around. However, according to the analyst, there is important news at the door that will change that.
Currently, Polkadot is holding strongly above the $6.89 support. However, it is gaining an upward momentum. This is an indicator that the bears are losing momentum and buyers confident of another crypto rally are taking positions. If the Ethereum merge starts a crypto rally within the month, Polkadot will be ready to rally.
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