The post Investors Notice Major Altcoin Movements appeared on BitcoinEthereumNews.com.

Recently, altcoins backed by prominent venture capitalists (VCs) have shown significant movement, potentially indicating a new trend in the cryptocurrency market. These altcoins, initially launched with high valuations, have seen notable fluctuations that could signal opportunity. What Fuels the Rise of VC-Backed Altcoins? According to analyst Miles Deutscher, many of these altcoins have depreciated substantially, falling by 80-90%. This depreciation means that positive news can lead to significant price increases, as these assets are trading at highly discounted prices. This trend is particularly evident in altcoins that faced heavy selling pressure during their initial sales periods. Access COINTURK FINANCE to get the latest financial and business news. The cryptocurrency market historically follows certain cycles, and although this cycle differs from previous ones, the underlying principles remain similar. The current cycle emphasizes the critical importance of selecting the right assets. Deutscher points out that timing the market is no longer enough; choosing the right altcoins to invest in is vital. Which Altcoins Are Breaking the Mold? Deutscher highlights Saga as a notable example bucking recent trends. He also mentions altcoins like StarkNet, Ena, and Wormhole as potential investment opportunities when bought at low valuations. These altcoins have seen significant unlocking, making them attractive for investors. StarkNet, a Layer-2 scaling solution for Ethereum, has a lower valuation than competitors like Arbitrum and Optimism, potentially presenting a favorable buying opportunity. Deutscher also points to new altcoin projects such as Initia, Bearer Chain, and Zero Gravity, stating that if these projects launch at low valuations and exceed expectations, they could yield high returns for investors. Investment Insights Investors can draw several valuable inferences from the current trends in VC-backed altcoins: Altcoins with significant depreciation may rebound strongly with positive news. Identifying altcoins that have faced heavy selling pressure can present buying opportunities. Layer-2 scaling…

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Filed under: News - @ August 15, 2024 2:20 pm