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  • solanaSolana (SOL) $ 145.40
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  • cardanoCardano (ADA) $ 0.433762
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  • daiDai (DAI) $ 0.999651
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  • fetch-aiArtificial Superintelligence Alliance (FET) $ 1.20
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  • renzo-restaked-ethRenzo Restaked ETH (EZETH) $ 3,245.37
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  • mantle-staked-etherMantle Staked Ether (METH) $ 3,325.23
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  • lido-daoLido DAO (LDO) $ 1.67
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  • theta-tokenTheta Network (THETA) $ 1.42
  • whitebitWhiteBIT Coin (WBT) $ 9.59
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  • ether-fi-staked-ethether.fi Staked ETH (EETH) $ 3,209.58
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  • msolMarinade Staked SOL (MSOL) $ 174.76
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  • roninRonin (RON) $ 2.12
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  • lido-staked-solLido Staked SOL (STSOL) $ 171.09
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  • frax-etherFrax Ether (FRXETH) $ 3,195.65
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  • coinbase-wrapped-staked-ethCoinbase Wrapped Staked ETH (CBETH) $ 3,446.58
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Altcoins on the Cusp of a Turnaround After Massively Underperforming, Says Crypto Analyst – Here’s the Timeline

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A closely followed crypto analyst says that altcoins are on the verge of breaking out after falling short of expectations.

In a new strategy session, Real Vision chief crypto analyst Jamie Coutts tells his 18,500 followers on the social media platform X that even though Ethereum (ETH) performed well earlier this month, altcoins are still lagging behind Bitcoin (BTC).

According to Coutts, altcoins should see a turnaround sometime during the second half of 2024 as liquidity improves.

“Most crypto funds are overweight alts and not having as much fun as they would like, despite having a cracking six months from Q4 2023 to Q1 2024. Despite ETH’s recent outperformance, there’s been no follow-through (top chart) and the SCP sector continues to lag behind Bitcoin.

The Altseason index (bottom) confirms this trend, heading lower with only 18% of the top 100 assets (excluding stables) outperforming BTC. I still believe a turnaround will happen in the second half of the year – sooner rather than later, as liquidity at the margins is starting to improve (recent Central Bank cuts).”

Altcoins on the Cusp of a Turnaround After Massively Underperforming, Says Crypto Analyst – Here’s the Timeline

Source: Jamie Coutts/X

Coutts goes on to say that he believes the latest crypto crash is a normal part of the market cycle and that opportunities await traders once the dust settles.

“This is the breakdown of the 3-month sector returns from my crypto classification framework:

  • Smart Contract Platform -31.58%
  • Infrastructure -43.28%
  • Digital World -44.13%
  • Digital Currency -31.59%
  • DeFi (decentralized finance) -31.15%
  • Applications -38.33%

BTC and ETH have held up -11% and 5%, respectively. If this is a regular mid-cycle correction we are experiencing, which I believe is likely, then expect some opportunities to be had in the mid and small caps once the market settles.”

Altcoins on the Cusp of a Turnaround After Massively Underperforming, Says Crypto Analyst – Here’s the Timeline

Source: Jamie Coutts/X

BTC and ETH are trading for $66,950 and $3,482 at time of writing, respectively.

Generated Image: Midjourney

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