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The crypto market has grown momentum in the past few days, with market leader Bitcoin ($BTC) leading the charge. While Bitcoin continues in its stride, numerous altcoins are expected to surge during the bull run, positioning themselves as worthy investment options.
Bitcoin ($BTC) Asserts its Position as Market Leader
Bitcoin has faced months of sideways price action but is finally breaking out. In the past week, $BTC has gained over 11.8%, currently trading at $67,859. Market sentiment appears to have changed as the Crypto Fear and Greed Index now rates market sentiment at 73 (greed) as opposed to last week’s reading of 32 (fear).
The US elections will soon take place, and many market onlookers wonder whether the outcome will affect the crypto market, given each candidate’s opposing views on crypto.
Blackrock CEO Larry Fink recently commented on Bitcoin’s growing legitimacy as an investment, comparing Bitcoin to commodities such as gold. Fink declared:
“I'm not sure if either president would make a difference" on Bitcoin's growth,” adding, "I don't believe [Bitcoin's rise] is a function of regulation.”
Fink’s views are refreshing coming from a Wall Street leader. Wall Street hot-shot such as Jamie Dimon has been vocal and dismissive of Bitcoin for a long time, making Fink’s remarks all the more favourable. Fink appears to understand that political outcomes do not change Bitcoin’s long-term performance and that it thrives on its technical merits rather than regulatory changes.
However, ChangeNOW CMO Pauline Shangett points out that Bitcoin received a shock on Tuesday, first jumping 4% in four hours to nearly $68,000 and then losing more than 4.6% to $64.7 thousand. The market digested this influx of stop orders and soon began rising again, currently trading near $67,800.
"It will be interesting to see the bulls and bears continue to battle on a retest of $68K. BTC faced stiff resistance at this level in July, but now the bulls have the breakout of the descending channel and an active pullback from the moving average of 200 days on your side. At the same time, the RSI on the daily time frame is not yet in the overbought territory, leaving room to run," she said.
Investors Look to Altcoins
As the dominant store of value, BTC remains the go-to choice for institutional investors. However, its recent price fluctuations have left some questioning whether BTC can continue to dominate the market in the long term. In light of the valid concerns of market participants, more and more investors are looking at alternatives to Bitcoin to make the most of the bull run.
Let’s look at 3 altcoin projects expected to surge in the upcoming cycle.
Husky Inu ($HINU) Presale Explodes
Husky Inu ($HINU) recently joined the crypto scene, significantly impacting the industry. The project’s recently launched presale has gone very well, with the first stage selling out within days. The second stage of its presale sold out, and the project is undertaking its third fundraising round with great enthusiasm. Since going live, the presale has generated almost $447,000.
Husky Inu ($HINU) entered the crypto space with a bang to compete with industry giants, including Dogecoin and its new best friend, Shiba Inu. The project has an Earn App in the works and a Decentralized Exchange.
Husky Inu ($HINU) and its native token were designed to improve utility and value for its holders by harnessing the power of the Solana ecosystem. The project aims to conquer the industry to create a robust and supportive community with improved features and rewards. Husky Inu made a name for itself thanks to its commitment to a reliable token ecosystem. It achieves this through a carefully designed distribution model and capped maximum supply. The project boasts several unique features that set it apart from traditional investment opportunities, including a capped token supply, a deflationary mechanism, speedy transactions, and charity voting. It is, of course, still an early investment opportunity.
Cardano ($ADA)
Cardano is a blockchain platform providing a secure and scalable infrastructure to develop dApps and smart contracts. The Cardano blockchain was created through a rigorous research-driven approach and focuses on scalability, sustainability, and interoperability to address the limitations of existing blockchain technologies. It is a prominent third-generation blockchain that prioritizes technological concerns like sustainability, scalability, and security. It is one of the most sophisticated and effective blockchain systems owing to its Design For Telecom (DFT) architecture and unique proof of stake (PoS) consensus mechanism, the Ouroboros. Ouroboros ensure network security and energy efficiency by allowing participants to earn rewards through staking the platform’s native token, $ADA.
$ADA serves multiple purposes within Cardano’s ecosystem and can be used for transactions and participating in platform governance through voting proposals and upgrades. Cardano ($ADA) currently ranks as the 11th biggest crypto by market cap, boasting over 40% growth in the past year.
Cardano (ADA) trades at $0.3472, below the 200-day and 50-day Daily Moving Averages. Over the last 24 hours, Cardano ($ADA) has dropped 0.06% in price.
Bonk ($BONK)
BONK is marketed as the first dog-themed token on the Solana blockchain “for the people, by the people,” with 50% of its total supply airdropped to members of the Solana community. BONK launched in December 2022, and its launch caused $SOL to gain 34% in 48 hours. The project’s goal is to bring liquidity back to Solana-based DEXs. With a market cap exceeding $1.76 billion, $BONK currently ranks 54th.
Bonk (BONK), like other meme coins, has exploded in popularity thanks to its strong community backing and viral potential. Initially seen as just another speculative token, Bonk (BONK) has surprised many by delivering significant returns to early investors. Much like Pepe ($PEPE) before it, Bonk ($BONK) is capitalizing on the meme-coin phenomenon, where coins with robust community support can achieve meteoric rises in value.
While Bonk's (BONK) success is primarily tied to social media hype and community engagement, it offers high-risk, high-reward opportunities for traders looking to capitalize on short-term gains. In the past week, $BONK has gained almost 15% and is poised for immense growth during the bull run.
Visit the following links for more information on Husky Inu:
Website: Husky Inu Official Website
Twitter: Husky Inu Twitter
Telegram: Husky Inu Telegram
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
