The post Altcoins Poised for Q4 Relief Rally: New Coins Are the Ones to Watch! appeared first on Coinpedia Fintech News
After several months of volatile and uncertain trading, the altcoin market is poised for a welcome relief rally in the fourth quarter of 2023. This optimism is fueled by the anticipation of crypto traders looking to capitalize on profits during the end-of-year festivities, leading to a surge in overall trade volume.
What’s interesting is that some lesser-known altcoins, quietly building their product offerings during the winter months, are projected to outperform their more renowned counterparts.
Altcoins on the Rise
According to insights from Santiment, a prominent crypto market intelligence platform, several altcoins have recently experienced a significant surge in on-chain address activity.
Despite markets cooling off for a 2nd consecutive day, several #altcoins are seeing rises in the amount of unique addresses interacting on their networks. Keep an eye on $BCH, $SLP, $MASK, $LEVER, & $CVC. Also, #crypto‘s top #stablecoin, $USDT. https://t.co/DDsQFKVCoz pic.twitter.com/x5vfwabMml
— Santiment (@santimentfeed) October 4, 2023
As October brought about a much-anticipated bullish sentiment among crypto enthusiasts, Santiment observed a substantial uptick in demand for the following altcoins:
- Bitcoin Cash (BCH)
- Smooth Love Portion (SLP)
- Mask Network ($MASK)
- LeverFi ($LEVER)
- Civic (CVC)
Increased on-chain address activity is a clear indicator of heightened utility, often accompanied by more frequent price breakouts.
This Might Interest You: Top Altcoins To Watch In October: Bitcoin Cash (BCH), Chainlink (LINK) And Maker (MKR) Might Trigger ‘Uptober’
Tether USDT Sees Growth
In addition to the surge in on-chain activity for select altcoins, Santiment has also highlighted a remarkable surge in demand for the leading stablecoin, Tether (USDT). According to the latest data from the crypto market, Tether USDT boasts a market capitalization of approximately $83.2 billion and a daily trading volume of nearly $19.1 billion—nearly three times higher than that of Bitcoin.
This substantial increase in Tether USDT volume, occurring during a bullish phase in the crypto market, is often seen as a sign of fresh capital flowing into the industry.
Also Read: Tether’s U-Turn: Why the Stablecoin Giant Is Back in the Lending Game?
