Top altcoins to watch in the next crypto altcoin season

沉浮若海 · 2023-12-13T14:20:45.000Z

Bitcoin’s ( BTC ) dominance of the cryptocurrency market fell slightly to 53% from a high of 55%. Meanwhile, total altcoin capitalization remains over $700 billion, and investors expect altcoin season to be here. Amid high hopes among some analysts for a bull run, or what conservative analysts call a bull rally, two cryptocurrencies surged to become “ones to watch” in the next alt season. In particular, Nano (XNO) and Avalanche (AVAX) shine among thousands of other digital assets. Interestingly, both offer scalable competitive advantages compared to the two leaders, Bitcoin and Ethereum (ETH). They use new technologies to make transactions faster and cheaper while increasing finality and network capacity.

Bitcoin ( BTC ) dominance in the cryptocurrency market fell slightly from a high of 55% to 53%. Meanwhile, the total capitalization of altcoins remains above $700 billion, and investors expect altcoin season to arrive.
Amid high expectations from some analysts for a bull run, or what conservative analysts call a bull rally, two cryptocurrencies have surged as the “ones to watch” for the next alt season.
Nano (XNO) and Avalanche (AVAX), in particular, have stood out among thousands of other digital assets. Interestingly, both offer scalable competitive advantages over the two leaders, Bitcoin and Ethereum (ETH). They use new technologies to enable faster and cheaper transactions while improving finality and network capacity.
Nano (XNO)Nano was recently mentioned by Elon Musk’s artificial intelligence, Grok, as the most suitable cryptocurrency for payments. A few days later, many platforms such as GNY Range Report, MEXC Exchange, and Onramp Money announced coverage and listings.
Meanwhile, XNO is trading at $1.23 at press time, up 9.23% on the day. Additionally, nano has surged 92% year-to-date (YTD), still lagging behind higher-market-cap tokens like AVAX.
Notably, the most relevant surge is within its trading volume. Nano’s 24-hour trading volume currently stands at $68.31 million, placing it among the top 93 cryptocurrencies by trading volume. This means that the volume exceeds 47.26% of its $168.55 million market cap.
Meanwhile, XNO has gained 60% against BTC since December 11. At press time, XNO is trading at 0.000031168 BTC, compared to 0.000019452 BTC two days ago.
Avalanche (AVAX)On Avalanche, JPMorgan Chase & Co. (NYSE: JPM)'s blockchain division, Onyx, announced it joined its ecosystem in November. The announcement leveraged AVAX from relevant traditional financial institutions and was made possible through Avalanche's subnet technology. Jiao Liuwei: 1816425885 It is worth noting that AVAX is trading at $39.88 at press time. Considering that the price per token was $10.89 at the beginning of the year, Avalanche's native token has risen 266% so far this year.
Avalanche, in particular, shines in its decentralized finance (DeFi) ecosystem. AVAX ranks among the top seven chains with a total value locked (TVL) of $837.97 million. This value is spread across 349 protocols, with more than $211,500 in fees collected every day.
Additionally, the token’s market cap is 15.69 times its TVL, a ratio that outperforms its main competitor, Solana ( SOL ).
However, investors must remain cautious, perform due diligence on each project, and develop a solid risk management strategy. Despite the bullish signals of the upcoming altcoin season and the positive indicators for the aforementioned cryptocurrencies, the volatile cryptocurrency market does not guarantee results.