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These coins kicked off a “massive altcoin rally” outpacing Bitcoin and Ethereum
About Crypto Banter’The sniper market show the analyst took a closer look at the market, particularly as it relates to altcoin investments and long-term holdings. He stressed the importance of understanding the performance relative to Bitcoin and Ethereum, the two main players in the market.
By changing the settings to view currency performance compared to Bitcoin or Ethereum, investors can discern which tokens outperform Bitcoin. While not many tokens have shown significant outperformance over the past week due to temporary factors such as the new dominance test, some tokens have shown promising performance versus Bitcoin over the past month.
With Bitcoin and Ethereum receiving attention and experiencing bullish trends, the focus now shifts to identifying tokens that could outperform. Tokens such as Injective, Render, Blockstack, AVAX, Ethereum and Sushi are showing signs of revival and outperformance compared to Bitcoin.
The analyst explained that if you look at Ethereum, not much has beaten it lately, except dydx, a decentralized exchange and a few others. He thinks Ethereum will do better than most altcoins for now, but many altcoins will follow when it makes a big move.
He explained that by comparing Solana to Ethereum, you can see which one outperforms the other. When the graph is green, Solana is better; when it is red, Ethereum is winning. So, if you had traded one Ethereum for Solana last September, you would have earned three Ethereum by now. Many focus on the price of the token, but what matters is its performance compared to Bitcoin and Ethereum.
The analyst highlighted how platforms like Optimism can help you earn more Ethereum. He loves charts that show consistent patterns over time, just like Cosmos’. If you notice when the pattern changes, you can make smart moves. For example, selling an Ethereum to buy Atom and then buying Ethereum back later can help you grow your assets.
He suggested slowly accumulating tokens like Injective, and when it starts to break out, it’s time to dive. Look at Theta: now it’s perfectly positioned. Remember, in the last cycle, some tokens outperformed Ethereum by 1,300%. Currently, Ethereum is in the spotlight, but we should also be ready for the next phase when altcoins start to overtake Ethereum.