This week, Miles Detcher, a well-known analyst in the crypto community, identified the most promising altcoins.
The altcoin list includes both established leaders in terms of market capitalization and newer projects. The analyst provided explanations for the inclusion of each coin on the list.
The analyst observed a slight correction in the price of Bitcoin (BTC) and attributed its growth prospects to the potential approval of the first spot Bitcoin ETF in U.S. history.
Which altcoins have performed the best this week?
According to the expert, THORChain (RUNE) has yet to fully realize its growth potential, while the rally of Solana (SOL) is expected to come to an end soon.
The demand for Polygon (MATIC) was explained by the project’s technical solutions and the anticipated influx of new investments following its rebranding.
The positive trend of Sei Network (SEI) indicates market participants’ interest in cryptocurrency and suggests potential for further growth. The same can be said for Celestia (TIA), as the crypto project has the potential to reach new heights.
The analyst also recommended keeping an eye on Dusk (DUSK), Loopring (LRC), Mina (MINA), GMX (GMX), dYdX (DYDX), Gains Network Price (GNS), Yield Guild Games (YGG), and STEPN (GMT). According to his observations, each of these coins has growth prospects.
Current state of the crypto market
Over the past month, the cryptocurrency market has experienced a new wave of growth. Bitcoin, the leading cryptocurrency, has increased in price by 35% and is currently trading at $36,300.
Following Bitcoin, the altcoin market has also seen positive movement, with significant growth observed in the largest altcoins based on market capitalization.