The crypto market has been getting a high-level shakeup lately, as analysts predict we could still be on for another bull cycle before the end of the year, putting Solana, Ethereum, Tron and Cardano on the watch list of top investors. But, following how these top altcoins have struggled in the past few months, are they still a good bet for a mega rally this year?
Here is a look at the top altcoins to answer whether they can still be the heroes when the rally begins.
What Is New After the Ethereum Upgrade and ETF Inflow?
Ethereum became a sensation again in June following news of a high ETF inflow, reigniting the potential for a price surge. However, before this news, the Ethereum price had been facing a tough time, with prices struggling below $250 The the price had fallen to a low of around $1380 in April following a terrible 4-month bearish roll into the year, which saw the price at a multi-month low, retesting a low from March 2023.
However, there has been a dramatic reversal from the bearish move, which now makes analysts believe the Ethereum price might be making a big comeback. This included a sudden surge that saw the price move from $1753 to $2784 in May and continue to $2877 in June.
But, while the price has taken a reversal, currently trading at $2509, analysts are getting bullish on the price surge, especially as the ETF inflow continues rising and the upgrade now attracts new L2 solutions.
All Eyes on the Institutional Adoptions of Solana and Cardano
The last few months have continued spotlighting Cardano and Solana, primarily for their rising adoption rate, which is now taking them across borders. This stems from the firedancer upgrade of Solana, which is now turning it into a speed demon, with a projected transaction speed expected to hit 1M, causing a rise in DeFi adoption.
However, factors like Cardano’s hydra upgrade and Ethiopian government partnership have continued pushing Cardano as a top altcoin in the crypto space.
Beyond these upgrades, the speculation of a Cardano and Solana potential ETF approval this year has fueled an intense bullish hype. If the ETF approval successfully pushes through this year, experts believe it could send Solana as high as $500 and Cardano up to $1.5 in the wild sensation that might follow.
What Is The Deal With Tron?
Tron has undoubtedly earned itself a reputation for slow but steady growth fueled by its strong fundamentals. With reports such as over 70% of the coin being staked and a mass adoption of about 80% of Japanese Banks putting a vote of confidence in the coin, Tron might be the underdog to keep a close eye on.
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