Category Archives: Altcoin

Analyst Who Nailed Bitcoin Crash Says One Altcoin Set to Erupt As Analysts Refresh Bitcoin, Ethereum and XRP Forecasts – The Daily Hodl

A trader who predicted Bitcoins deep plunge to $4,000 in March says one of the years most talked-about altcoins is now ready to erupt.

The pseudonymous analyst known in the cryptoverse as Capo tells his 20,000 Twitter followers that Chainlinks (LINK) correction, which saw the coins value crash from its all-time high of $19.85 to below $9.00 from mid-August to September, might be coming to an end. According to the trader, the decentralized oracle network is in a position to parabolically rise to $31 before 2020 expires.

If you are surprised by the BTC breakout, wait for LINK to take off.

As for Bitcoin, the analyst is bullish on the leading cryptocurrency but he believes that BTC must push through a few resistance levels at around $13,000, $15,000, and $17,000 before skyrocketing.

Looking at Ethereum, Capo is extremely bullish on the leading smart contract platform.

Id buy the entire ETH supply if I could.

The crypto trader expects ETH to ignite a steep upwards movement and outperform BTC.

I have no doubt that ETH will perform better than BTC in the next bull cycle.

Capo is also keeping a close eye on the ETH/BTC pair. In a new tweet, the trader implies that ETH/BTC may have pulled off a big bear trap.

Oh boy.

Other analysts are also bullish on the worlds dominant cryptocurrency. Prominent trader Smart Contracter tells his crew of 65,000 that BTC is ready to explode to $16,000.

Still just under 2 hours to go but looks like were going to get another ripper daily close on BTC. Looking like a double extension of the wave three of this leg up is forming instead of a single extension, kind of feeling $14,000 wont prove as much of a resistance as we think.

The crypto analyst is also bullish on XRP. He says that Ripples native token is poised to follow ETHs bullish footsteps and surge close to $0.29.

Basically, XRP looks exactly like ETH did before it broke out yesterday.

Featured Image: Shutterstock/IM_VISUALS

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Analyst Who Nailed Bitcoin Crash Says One Altcoin Set to Erupt As Analysts Refresh Bitcoin, Ethereum and XRP Forecasts - The Daily Hodl

Should Ethereum no longer be classified as an altcoin? – AMBCrypto English

For all its maturity over the last few years, the crypto-market, on many levels, continues to be divided along very primitive and tribal levels. Statements like Bitcoin is the best and Ethereum is the future all reek of how many see the market not as a collective whole, but as a sum of its parts. Yet another one of these petty debates was at the fore recently after Ethereums Vitalik Buterin tweeted,

As expected, most of the responses the tweet received werent very kind. In fact, any proper discourse associated with the tweet soon spilled over to become a cussing match between Bitcoin maximalists, Ethereans, and everybody else. Now, while the level of discourse might have petered out, it should be noted that Buterin raised an interesting point there. Should Ethereum no longer be classified as an alt?

Now, both of these camps often have a long list of points to shout out when such a question is posed. We shall not go there. Instead, lets keep the focus on Ethereum and its newfound and to-be-expected functionality.

Emergence as a Crypto-capital Asset

Ethereum is many things to many people, and one can argue that all of these descriptions are well-contended among many. However, one feature that doesnt get a lot of limelight is Ethers emergence as a crypto-capital asset. While this may be because Ether isnt one yet, the fact of the matter is that it can, and thats worth considering.

Think about it What is a crypto-capital asset? Well, they are tokenized assets that represent both (1) economic rights and (2) governance rights over a network or protocol. Sounds neat enough, right? Well, juxtapose that definition against our case study and everything is a little hazier.

As highlighted by Banklesss Q3 Token Report, the much-anticipated ETH2 upgrade is key to Ethers emergence as a crypto-capital asset since it will guarantee future rights to cash flows on Ethereum as holders will be able to earn transaction fees by becoming a validator and staking on the ETH network. Thats not all as under EIP1559, ETH holders will earn some margin of the revenue via fee burns whenever the network usage is high.

Now, on the face of it, the aforementioned paragraph would satisfy the economic rights aspect of a crypto-capital asset. However, it doesnt truly satisfy the governance rights aspect of the same definition. This is the reason why this section was prefaced by something along the lines of Ether is getting there

As highlighted by the aforementioned report, the fact of the matter is that even with ETH2, validators will only have soft-fork governance rights, and not actual governance rights like the ones enjoyed by MKRs token holders.

So yes, Ether may not be a crypto-capital asset yet. But, it has the potential to get there. And, recognition of that fact, recognition of its potential and multi-functionality, is crucial to understanding how an asset should be classified. Ergo, its not hard to see why Buterin feels Ethereum is more than just an ordinary alt. His sentiments were shared by Ryan Sean Adams too, who tweeted,

In fact, Buterin found an unexpected supporter in his corner a few days ago after CFTC Chair Heath Tabert commented,

If Bitcoin is email, a one-trick ponybut obviously revolutionary, Ethereum goes far beyond that, its more like the Internet.

Much ado about nothing?

No word is absolutely wrong or dirty or insulting. It all depends upon context and intention Janet Jackson

While highlighting an assets utility is well and good, doing so is often at the expense of providing an incomplete picture. What also matters, ergo, is perspective and context. Think about it How many times have our words and thoughts been misinterpreted because of a lack of perspective and context?

Buterin, it can be argued, is right in objecting to Ethereums classification as just an alt. On the other hand, it can also be contended that he isnt getting the connotations attached to the term alt/altcoin, when used in association with Ethereum.

Think about it in the most literal sense, Alt stands for Alternatives. What kind of alternatives? Well, alternative cryptocurrencies that emerged post-genesis aka post-Bitcoin. As simple as that. Contrary to what Buterin might think, most (excluding a small subset) use the terms alt and altcoins in this sense alone. There is nothing derogatory or nefarious here, and neither is the use of these terms a dig at Ethereum.

Simply put, this debate may just have been a case of much ado about nothing. Even so, perhaps, there is a lot Ethereum can cheer for, especially in light of its growing institutional adoption. Now, if only ETH 2.0 can get going sometime soon

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Should Ethereum no longer be classified as an altcoin? - AMBCrypto English

High-Profile Crypto Trader Says Ethereum, XRP and Three Small-Cap Altcoins Set to Break Out After Bitcoins Big Move – The Daily Hodl

Top crypto strategist and trader Crypto Rand says a select number of altcoins including Ethereum (ETH) and XRP are poised to ignite bullish breakouts.

Rand tells his 220,000 Twitter followers that Ethereum, which he refers to as the money printer, is ready to launch the next leg up as it breaches the resistance of a bullish continuation pattern.

ETH wants to catch up with BTC. Bull pennant breaking out.

The trader is also looking at Ripples native asset XRP, which he thinks is primed to go above resistance at $0.28 first and then $0.33.

XRP wants to join the party. Bullish breakout.

Rand is also bullish on blockchain-based digital advertising platform Basic Attention Token (BAT). The trader expects the crypto token to surge nearly 30% to above $0.28 as BAT breaks out from a bullish reversal pattern.

BAT | Wonderful setup.

As for blockchain scalability solution Matic Network (MATIC), Rand believes that the stage is set for the low-cap altcoin to catalyze a bullish rally after MATIC took out the diagonal resistance that has kept the coin bearish since August.

MATIC | What an amazing setup!

Rand is also keeping a close watch on the decentralized finance (DeFi) darling yearn.finance (YFI).

The trader implies that the brutal correction, which sent YFI from an all-time high of $43,873 in mid-September to around $12,260 earlier this month, may have come to an end. The trader highlights the price levels of around $16,000, $20,000, and $34,000 as areas of interest for bulls.

Looks like $YFI wants to fly.

Featured Image: Shutterstock/Art Furnace

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High-Profile Crypto Trader Says Ethereum, XRP and Three Small-Cap Altcoins Set to Break Out After Bitcoins Big Move - The Daily Hodl

Top 3 altcoin events to happen this week – Somag News

In the coming days, there will be important developments on Wanchain (WAN), from the hard fork to the listing of Chainlink (LINK) on Bitstamp.

Bitcoin has had a good start this week as well as last week. The leading crypto currency with its market value reached $ 11,840 on the first day of the week. In addition to the rise in price, the market share of cryptocurrency has also approached 60 percent from 58 percent in the past week. As the money moved from altcoins to Bitcoin, there was a decrease in the prices of altcoins. Ether lost 2.5 percent compared to last week, while Binance Coin dropped below $ 30. The biggest decrease in the top 10 compared to last week is in Polkadot with 8.5 percent.

While the situation of the Bitcoin and altcoin markets is generally like this, it is possible to see more mobility in the prices of some altcoins with the developments that will occur in the coming days. So whats up this week? Heres what weve compiled:

Wanchain, which aims to be an infrastructure that connects the decentralized financial world, has a hard fork on Thursday. The hard fork, called Mars and will take place at 03:00 on October 22, is seen as the most important update after the Mercury hard fork in December 2019.

Zcoin (XZC), a privacy-focused crypto currency launched in 2016, experienced its first block prize halving last month, with block rewards dropping from 25 XZC to 12.5 XZC. After this big milestone, an important update is now getting closer to Zcoin.

A new privacy protocol called Lelantus to Zcoin is moving to the testnet stage today. It is stated that when Lelantus is activated in Zcoin, a high degree of anonymity, better performance will be offered in the crypto currency, and transaction sizes will decrease.

Bitstamp announced last month that it was reviewing 25 cryptocurrencies to list. One of those featured here was Chainlink (LINK). LINK, one of the biggest cryptocurrencies, will be listed on Bitstamp today. Yesterday, deposits and withdrawals for LINK were launched.

Bitstamp is a well-established cryptocurrency exchange that started operations in 2011. The Luxembourg-based exchange has reached a trading volume of $ 125 million in the last 24 hours.

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Top 3 altcoin events to happen this week - Somag News

Top 3 Gainers of The Week Litecoin, Chainlink, Wrapped Bitcoin: More gains ahead for these altcoins – FXStreet

The cryptocurrency market has been on fire recently. Bitcoin broke above the critical resistance of $12,000 and tested a new high of 2020, with all major altcoins following the lead.

The total capitalization of all digital assets in circulation increased to $394 billion, having gained over $40 billion in the last seven days. The market has mostly recovered from the previous week's losses incurred by the news that one of the most popular cryptocurrency exchanges, OKEx, suspended all digital assets/cryptocurrency withdrawals.

The best performers of the week are Litecoin, Chainlink, and Wrapped Bitcoin. These altcoins managed to capitalize on the crypto market recovery.

At the time of writing, LTC/USD is changing hands at $56.9. The 8th largest digital asset, with the current market capitalization of $3.2 billion, has gained over 18% in the last seven days to become the best-performing altcoin of the week out of top-50.

On the intraday charts, LTC/USD is trying to move above the local resistance line at $56.8. Once it is out of the way, the upside is likely to gain traction with the next focus on$64. This barrier limited the coin's recovery during the August consolidation pattern. A move higher will bring $69 (the highest level of 2020) and $70 into focus.

On the upside, the initial support comes at $51. This level served as a formidable resistance during the best part of September and October until it was broken on October 21 amid the strong rally across the board. A sustainable move below this area will invalidate the short-term bullish scenario and allow for a deeper decline to $45.5, followed by $41.5.

The on-chain data shows that an important resistance area is located on the approach to $60, as over 74,000 addresses holding over 2.6 million coins have their breakeven point there.

However, on the downside, the first supply area comes on approach to $54, as over 3.7 million coins were bought around this price. The next supply wall is seen around $51, which coincides with the technical barrier mentioned above.

Chainlink (LINK) is another top-performer of the week. The 6th largest digital asset has gained over 16% in the last seven days to trade at $12.30 by press time. LINK's market capitalization is registered at $4.8 billion, while its average daily trading volume is 1.47 billion, in line with the long-term figures.

On the intraday chart, LINK/USD broke above the resistance of $11.6 with the next bullish target created by a psychological $13. This barrier limited the recovery at the beginning of September andmay trigger the downside correction if the LINK's bullish trend fails to gain momentum. Once it is out of the way, the upside is likely to gain traction with the next focus on$15.6.

On the downside, the initial barrier is created by the above-mentioned $11.6 that served as channel support in September. A sustainable move below this area will trigger more sell-off to the psychological $10 and $9.70.

The data on In and Out of the Money Positioning (IOMP) confirms that there is s a strong barrier located on the approach to $13 as over 4,000 addresses holding nearly 17 million coins have their breakeven point there. Notably, there are no significant barriers above this area.

On the downside, the strongest supply zone comes on approach to $10.00.

Wrapped Bitcoins (WBTC) is a tokenized version of Bitcoin that runs on the Ethereum blockchain. Basically, it is backed by BTC, and its price is following the price of BTC, which makes it similar to a stablecoin. Currently, there are over 110 095 WBTC in circulation, while their average daily trading volume amounts to $29 billion. For the sake of comparison, Bitcoin's average trading volume comes at $27 billion.

Source: CoinMarketCap

The DeFi boom explains the growing popularity of tokenized Bitcoins as it allows BTC holders to participate in the new lucrative industry without converting their tokens into ETH or other coins.

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Top 3 Gainers of The Week Litecoin, Chainlink, Wrapped Bitcoin: More gains ahead for these altcoins - FXStreet

Altcoin Season! Will the Gains Soar or Swing Within Same Range? – Digital Market News

More money will be made in the Alt-Season that follows

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The altcoin season is when the maximum number of altcoins rally with significant gains. The top 100 cryptos are considered and more than 50 percent of the coins are required to have a bull run for a successful Altcoin Season.

In the past Altcoin season, cryptos like Maker, VeChian, Chainlink, Cardano, etc and many other rallied with an average of more than 50 percent. However, Bitcoin price was not impacted much as it was during the altcoin season, Bitcoin crossed $10000 and never looked back till now.

However, it is speculated that the crypto space may have yet another altcoin season by the end of 2020 and would be more profitable than before. One of the crypto influencer, The Crypto Dog, has predicted a probable altcoin season in the month of November 2020.

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The testnet of ETH 2.0 is successfully launched and the working is been closely monitored. Once the testnet is successfully completed, ETH 2.0 phase 0 would be ready for the launch which is expected by end of 2020.

The main issue with the current Ethereum blockchain is the high gas-fees. Hence, this issue is speculated to be addressed in ETH 2.0. If in case the issue is resolved as per the expectation, then the ERC-20 tokens are expected to boom yet again with intensified growth in the DeFi space.

With the bull rally of ERC-20 tokens, Ethereum price also is expected to touch to great heights with the success of ETH2.0. Hence many predict a possible Altcoin season by the end of 2020 which can continue in early 2021 also.

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Altcoin Season! Will the Gains Soar or Swing Within Same Range? - Digital Market News

VectraCoin a New Altcoin That Will Definitely Go to the Moon! – NewsBTC

If you decide one day to invest in cryptocurrency, you should choose first what you are going to buy. Of course, you should know the basics of blockchain technology, be able to create cryptographic wallets and execute transactions properly. But still, the main thing is to figure out that this cryptocurrency is profitable and later it can be sold at a higher price. There is no clear answer to the question: Which cryptocurrency to invest in? Before investing money, you should study the market and analyze the prospects of the particular project. Pay attention to the following:

A) The degree of popularity in the blockchain community. If the trading ticker of this crypto coin can be found on the majority of outstanding exchanges and news, which is related to its peer-to-peer network is published by authoritative blockchain publishers, then it means that it is one of the most lucrative cryptocurrencies. Tokens of this network can be easily sold and if you invest money in this project, you will most likely not suffer a loss whatever the outcome.

B) Ease of making transactions. Authoritative blockchain companies produce several types of wallets and besides their coins are supported by many third-party developers of multi-currency storages. It is very important for an investor to have a reliable cryptocurrency wallet (ideally a hardware wallet).

C) Security. Based on the above, we can make a conclusion that a promising network should be carefully protected from hackers. The best cryptocurrencies running on POW should have a quite powerful network to minimize the chance of an attack to 51%. And if the project you have chosen uses an alternative consensus algorithm, then it should have a well-thought-out scheme of protection against unscrupulous validators.

1) Multilevel blockchain

VectraCoin is developed on a multilevel blockchain. What does it mean? It allows you to combine the features of coins that at first glance are incompatible, For example for VectraCoin, these are smart contracts (which imply publicity) and complete anonymity, on the analogy of Monero with the help of a one-time signal. This is the most important characteristic of Vectra, because of which, everyone predicts that VectraCoin will take the rightful place on the top 10 Coin Market Cap in 2021.

2) Transaction speed

The Bitcoin network processes 7 operations per second, and Ethereum processes 15 operations per second. The speed of VectraNetwork is up to 1000 operations per second, which allows it to compete not only with competitors in the crypto market, but also with fiat money, and Visa and MasterCard.

3) Security and anonymity

Thanks to the integration of the CryptoNote algorithm, it is impossible to link the sender and recipient to any specific person. The network and its transactions are completely anonymous thanks to a single-time ring signature. Of course, Vectra is also a decentralized system. No single center regulates VectraCoin, which allows making transactions directly without government or other control.

4) Support for smart contracts.

It is enough to look at the Ethereum and understand how this characteristic has helped ETH take a worthy second place in terms of capitalization among all cryptocurrencies. The parties sign a smart contract using methods similar to signing of sending funds on existing cryptocurrency networks. After signing by the parties, the contract is being saved in the blockchain and comes into effect, and none of the participants of the transaction has any doubts that the transaction is done.

5) Pre-ICO stage

There is no better time than now for investing in Vectra. Technical implementation of the coins is almost done, the project team has almost completed working on it, and besides Vectra tokens are being sold at $100 per token now. And at the time of the coins release in 2021, even at the most conservative estimates, the cost would be no less than $1,000 per one token, and after entry into the market, it may reach $5000.

When choosing a cryptocurrency for investment, do not stop at one project, no matter how attractive it may be, do not expect that the price will double tomorrow, and do not panic at the first drawdown of the exchange rate. In addition to the above-mentioned startup, confidential cryptocurrencies such as Zcash, Dash, and Monero deserve attention too. As well as young promising digital coins on the MibleWimble protocol and a number of other altcoins.

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VectraCoin a New Altcoin That Will Definitely Go to the Moon! - NewsBTC

Trading in Privacy: Will Litecoin’s New Privacy Upgrade Provide a Boost For The Embattled Altcoin? – FX Empire

(Image: Capital)

Litecoins performance in recent month leaves little inspiration for investors but in a market thats becoming increasingly dependant on external events in order to perform, the move to a more private trading experience could help LTC to become a safe haven for adopters.

LTC was one of the early names to establish itself on the cryptocurrency market. Since then, its developed into one of the largest coins on the market based on their market cap. Today, Litecoin can be found on virtually every crypto exchange, and with a Bitcoin to Litecoin exchange rate of 220.7 LTC to BTC, there can be some perceived value investment opportunities for traders.

The appeal of Litecoin comes from the fact that its one of the most widely accepted cryptocurrencies on the planet. This means that its possible to buy a wide range of goods and services via LTC while also using Litecoin to invest in various other emerging crypto projects.

Litecoin was created in a way that was designed to mirror the world-famous Bitcoin. However, one of the key appeals of LTC is based around the currencys scarcity. The currency is only produced at set intervals following the approval of a block of transactions to the network. As a result there will only ever be 84 million Litecoins produced thanks to a simple equation from the coins developers.

LTCs developers recognised that, because Litecoin processes transitions four times faster than Bitcoin, it could feasibly accommodate four times the tokens while performing just as well. Notably, the limited supply of LTC ensures that it will never be adversely affected by inflation over time.

Its clear that Litecoin is a sturdy cryptocurrency thats already stood the test of time over a tumultuous decade in the history of crypto. But could the coin ever recapture its 2017-peak of $365 as a more privacy-centric currency once again?

Well, Litecoin has been tipped as a fair bet to increase in value towards the end of the year, provided that LTC can make a breakaway from its current resistance pattern and start showing signs that it can outperform its current valuation at a maximum of $50. According to Invezz, if LTC can break above $50, theres no reason why it cant push towards $70 in the not-too-distant future.

Litecoin remains a powerful currency on the crypto market on a more technical level, and comfortably outpaces Bitcoin in terms of faster payment processing as well as showcasing significantly lower transaction fees to make LTC a more practical coin than some of the more famous names populating the cryptocurrency markets.

However, renowned crypto analyst Michal van de Poppe doubts that Litecoin will ever deliver on its market potential and reach its former highs, and instead told Invezz that he expects the cryptocurrency to eventually fall out the top ten currencies based on market cap:

The crypto markets are undergoing a series of transitions that will result in a shakeup for previously dominant assets. The first transition would result in maturation and market regulation for Bitcoin and blockchain, while the second would cause the jettisoning of overvalued Top 10 coins, including XRP, Litecoin and Bitcoin cash, he noted.

The arrival of more privacy for investors and traders when it comes to Litecoin is undoubtedly a step in the right direction for the cryptocurrency. As a coin with highly practical features, its fair to say that these developments can help to restore the relevance of LTC. Although, we may be some way off seeing a sustained peak in an embattled crypto market. One things for sure though, Litecoin has proved time and time again that its here to stay.

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Trading in Privacy: Will Litecoin's New Privacy Upgrade Provide a Boost For The Embattled Altcoin? - FX Empire

Will the Leading Altcoin Ethereum Continue to Rise? – Somag News

Leading altcoin Ethereum is currently trading at $ 382 and has only dropped 0.5% in the past 24 hours. Despite the decline from local highs, analysts think the asset will continue to rise. One analyst seems unlikely to enter a downtrend right now, given the support at $ 360-370.

$ 360-370 has stood out as an important horizontal level for crypto money in recent weeks.

Ethereum has fallen from its local highs around $ 395 in the past few hours. The cryptocurrency is currently trading at $ 382. This is not far from the highs he has seen before.

Despite this rejection and $ 400 resistance, analysts remain optimistic. A cryptocurrency trader recently stated that the price action is healthy with the cryptocurrency above critical supports.

If the price converts to the $ 380 support, the market will seek a full recovery. The chances to retest $ 280 are getting less and less every day we stop above these levels. ETH price seems to continue on its uptrend though. In a negative move, the price will have to fall below $ 360.

One trader stated that as long as Ethereum prices are around $ 350, it will double to $ 720 in the coming months. $ 350 has long been a highlight for ETH in 2017 and 2018, serving as a jumping-off point for cryptocurrency.

Ethereum prices upward support shows an optimistic outlook for Bitcoin. Tyler Winklevoss, one of Geminis co-founders, said that Bitcoin is becoming more and more meaningful recently as the US government is pursuing another stimulus package:

Total dependence on aid will not end for a long time. When this will happen is hard to predict, but what is certain is that Bitcoin will be your only refuge.

Analysts expect more US dollars to be minted before alternative investment instruments such as gold and Bitcoin can rise.

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Will the Leading Altcoin Ethereum Continue to Rise? - Somag News

3 years after the ICO, Filecoin (FIL) rallies 118% upon listing – Cointelegraph

On Thursday Filecoin (FIL) began trading across major exchanges over three years after its initial coin offering.

Upon listing, the token traded at wildly different prices across multiple exchanges and while the premium shows there is still an appetite for altcoins, investors interpreting the rallies from FIL and Polkadot (DOT) as the beginning of an altseason may be disappointed.

Hours after trading began, top cryptocurrency exchanges including FTX, Binance, and Gemini announced that they would swiftly list the altcoin. Consequently, the token saw significantly different prices across platforms due to a combination of limited liquidity and supply.

The 15-minute chart of Filecoin (FIL) after the FTX listing. Source: TradingView.com

Hours after the FTX integration, the FIL futures contract processed $150 million in trading volume. FTX CEO Sam Bankman-Fried said:

$FIL has traded about $150m so far. Roughly 60% of the volume has been on FTX! Started around $30, went up to $80 on FTX and $200 on other exchanges, now around $40-$80 on various exchanges.

Historically, the fourth quarter has been relatively slow for the entire crypto market and in 2018 and 2019 BTC saw losses against the U.S. dollar during Q4.

Based on historical trends and what appears to be the end of an explosive multi-month rally, traders expect a drawn out consolidation phase as the next step for the crypto market.

Michael van de Poppe, a full-time trader at the Amsterdam Stock Exchange, suggested that an altseason in early 2021 is most likely. He wrote:

I do believe we'll be seeing a relatively boring and corrective quarter on the cryptomarkets. In history; $ETH frequently bottoms out in December, to start running the quarter after. $BTC dominance to run up, to have an altseason in Q1 2021. Continuing the patience.

According to the data from CoinMarketCap, the Bitcoins dominance against the rest of the cryptocurrency market has been climbing.

Since Sept. 21, the Bitcoin dominance index increased from 58.28% to 58.6%. Although this is not a major increase, it shows a clear recovery from an extended downturn throughout the past year.

The Bitcoin dominance index. Source: CoinMarketCap.com

The dominance index is typically an accurate measurement to assess the trend of the altcoin market and many traders believe that a decline in Bitcoin dominance if followed by increasing bullish momentum in the altcoin market.

In early October, researchers at Santiment said the key to evaluating the prospect of an altseason is the volume of decentralized exchanges. They said:

Are we anywhere close to #altseason yet? The key may very well be in #DEX trading volumes. Taking a look at #Uniswap's trading volume, this trendline breaking may very well be the leading indicator to foreshadow the next #alt boom.

Uniswap daily volume since July. Source: Uniswap

As shown above, Uniswap volume has been in a steady decline. At the same time, altcoins remain flat and the altcoin total market cap index shows a similar decrease in volume.

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3 years after the ICO, Filecoin (FIL) rallies 118% upon listing - Cointelegraph