Altcoins Set For $627 Billion Inflow As Altseason Prepares For Takeoff

London Stock Exchange
Advanced charts
Premium community
Data download

Name	Symbol	Market	Market Cap ($)	Algorithm
Ethereum	ETHUSD	Crypto	444,738,446,969	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ethereum

ETHUSD

Crypto

444,738,446,969

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-4.79	-0.13%	3,701.52	3,701.52	3,701.53

Price Change

Price Change %

Current Price

Bid Price

Offer

-4.79

-0.13%

3,701.52

3,701.53

High Price	Low Price	Open Price	Prev. Close	52 Week Range
3,732.37	3,661.12	3,712.38	3,706.57	2,045.99 - 4,093.88

High Price

Low Price

Open Price

Prev. Close

52 Week Range

3,732.37

3,661.12

3,712.38

3,706.57

2,045.99 - 4,093.88

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	04:55:44	0.015810	3,701.42	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

04:55:44

0.015810

3,701.42

USD

Price x Volume	Volume	Base Symbol	Related Pairs
77,353,708.21	20,898.24	ETH	ETHEUR	ETHGBP	ETHBTC

Price x Volume

Volume

Base Symbol

Related Pairs

77,353,708.21

20,898.24

Altcoins Set For $627 Billion Inflow As Altseason Prepares For Takeoff

30/11/2024 6:00pm

NEWSBTC

After recent robust bullish performances by several altcoins, multiple analysts have tipped the altseason to have begun, building momentum for a major price explosion in the coming weeks. Interestingly, popular analyst EGRAG Crypto has weighed in on the discourse around a highly-anticipated altseason, predicting a potential market inflow of $627 billion. Related Reading: Altcoins See Massive Inflows Amid Bitcoin’s Record Rally, But 2021 Bubble Warnings Persist Bitcoin Dominance To Crash By 33% As Altcoins Fly – Analyst In an X post on Friday, EGRAG Crypto provided valuable insight on the market growth potential of altcoins in the upcoming altseason. The analyst employed the Volume Range Visible Profile (VRVP), an analysis tool to identify key support and resistance levels based on trading volume, to study the trading activity of Bitcoin across different dominance levels. For context, the alt season is a period where altcoins significantly outperform Bitcoin in terms of price appreciation. It is characterized by a relative decline in Bitcoin’s market share as capital moves into other cryptocurrencies. As shown in the weekly chart below, EGRAG Crypto notes that Bitcoin’s dominance is closing below its Value Area High (VAH) i.e. the upper boundary of heavy trading activity which currently acts as a resistance zone. This development is particularly bullish for altcoins as it signals increasing selling pressure on Bitcoin which may weaken its dominance over other assets. Importantly, EGRAG Crypto also highlights the Value Area Low (VAL) i.e. lower boundary of heavy trading activity which is likely to act as support and target level for Bitcoin dominance in this altseason. According to values drawn by the analyst, BTC Dominance will decline by 33.04% if it reaches its Value Area Low. Therefore, considering Bitcoin’s current market cap of $1.91 trillion, the altcoins are likely to record new inflows of $627 billion in the forthcoming weeks. In addition, EGRAG Crypto also states Bitcoin Dominance will have a Point of Control (POC) target of 42% in this altseason. The POC represents a pivotal price/dominance level with the most trading volume and a decline below which signals a confirmative shift in market interest from Bitcoin to other cryptocurrencies. Related Reading: Altcoins ‘Starting To Run’ After Reclaiming This Key Level, Altseason Around The Corner? Ethereum Remains Key To Altseason Charge With more expert commentary on the altseason, analyst Michaël Van de Poppe has appraised the positive price performances of altcoins in the past month. Furthermore, the analyst states that if Ethereum (ETH), the largest altcoin by market cap, closes above 0.035 on the ETH/BTC chart for November, it will suggest a strong bullish period for altcoins in December. At the time of writing, the altcoin market remains valued at $1.39 trillion representing 41.4% of the total crypto market cap. Featured image from Medium, chart from Tradingview

	Real-time Prices	Level 2
London Stock Exchange
Chi-X Europe
BATS Europe
Aquis Exchange
New York Stock Exchange
NASDAQ
American Stock Exchange
Dow Jones Indices
Precious Metal

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

ETHUSD Ethereum