Is the Altseason just around the corner?

Crypto markets have retreated 3.6% on the day, with total capitalization falling to $3.41 trillion at the time of writing.

But that’s largely due to Bitcoin’s 7% correction as it fell below $93,000 in early trading in Asia on Tuesday.

Altcoins have been invigorated recently and chain analytics platform Santiment has highlighted the best performers.

“Traders are still using the hot altcoins and discussing specific stories about under-the-radar opportunities,” he stated on November 26.

Three Altcoins to Watch

Santiment highlighted three crypto assets that have recently outperformed. The Sandbox (SAND) has surged amid a remarkable resurgence in investments related to the metaverse and growing confidence among investors, he noted.

This suggests a “shift towards GameFi and metaverse projects,” he added. SAND has more than doubled over the past fortnight, hitting an eight-month high of just over $0.80 on November 25. However, it has started to pull back sharply since then, dropping to $0.66 at the time of writing.

Stellar Lumens (XLM) has surged 330% over the past fortnight to hit a high of $0.588 on November 25, its highest price since May 2021. However, the asset has fallen to around $0.50 at the time of writing.

“There is growing interest from Korean investors after a political event, further emphasizing XLM’s traction among crypto investors,” Santiment said.

️ Even though Bitcoin has dropped to $93,000 on Monday, traders are still using current alternatives and discussing specific stories surrounding radar opportunities:

The Sandbox $SAND: There has been a notable resurgence in investments related to the metaverse and growth… pic.twitter.com/7HPyInN7gE

— Santiment (@santimentfeed) November 26, 2024

Santiment also mentioned Ethereum’s price performance, which “is being discussed in contrast to other cryptocurrencies like Bitcoin and XRP.”

“Users express bullish sentiments on Ethereum’s potential to outperform other large caps.”

ETH is up more than 9% over the past week and is holding on to its gains at the moment, trading around $3,430 while those around it are correcting. That hasn’t stopped Bitcoin maxis from continuing to spread Ethereum FUD memes, but serious analysts are seeing its potential this cycle.

#Ethereum it’s just getting started and it won’t stop until it hits 5 figures pic.twitter.com/RRcXMHkwMm

— Yoddha (@CryptoYoddha) November 25, 2024

Another season yet?

With Bitcoin’s dominance still at 58.6%, it’s unlikely that another season is upon us yet. A drop below 50% will mean that the trend has reversed and altcoins will start to move, and analysts are confident that this is just around the corner.

Most of the altcoins are pulling back at the moment and apart from ETH only Toncoin (TON), Uniswap (UNI), Internet Computer (ICP), Ethereum Classic (ETC) and Bittensor (TAO) are in green today

Santiment also looked at altcoins with the highest 24-hour social volume increases, which included Pleasure Token, Tornado and Axie Infinity.

The biggest Altseason is coming

That’s all

This is the tweet. pic.twitter.com/MMwBw0rChD

— Elja (@Eljaboom) November 25, 2024

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