Investors are expecting a new rally. The altcoin rally has been led by lesser-known altcoins since the beginning of 2021. The rise of ALPHA from $ 0.33 in early 2021 to $ 2.13 in April 2021 is actually an expected result of the altcoin rally.
Not only ALPHA alone, but the best DeFi tokens like MATIC and AAVE have been featured in mainstream media comeback stories in 2021 through both altcoin drops and rallies.
Rally and Altcoins
Although ALPHA’s trading volume has dropped by over 50% in the past 24 hours, the DeFi token has become increasingly popular due to its high volatility and liquidity in spot exchanges.
There is demand for ALPHA in top spot exchange markets such as Binance and FTX. The trading volume in Binance markets is largely 50% of the total trade volume. The price of ALPHA depends on the price movement of Binance in the USDT market. This points to relatively high liquidity compared to other top altcoins.
According to Lunarcrush’s chart above, volatility for ALPHA is almost proportional to the price rally, unlike most other altcoins.
According to data from CEX and DEX, only 2.4% of ALPHA is in the market in circulating supply at the current price level.
Currently, 56 Million ALPHA continues to demand altcoins. The announcement of the new liquidity mining era for ALPHA has made the token profitable for traders who are increasing their demand in spot markets across exchanges.
Increase of MATIC
In the MATIC sample, when the altcoin last made a similar move, the price rose over 1200% in the next 30 days, as it now does according to the price chart.
A similar move raises the price of MATIC to $ 5 by June. 1. After being consolidated for more than 5 months, altcoin is expected to rise.
In addition, MATIC currently trades as close to as many transactions as ETH does. Against ETH’s 1.5 Million transactions, MATIC makes 1.2 Million transactions. Although MATIC’s market cap is 60 times less than Ethereum, MATIC emerged as a less valuable altcoin in the current bull run.
The liquidity of AAVE is its most important feature and it is constantly increasing in Uniswap. It recently reached a new monthly peak.
Liquidity in Uniswap is currently at its peak, according to data from Glassnode. The price action of AAVE largely corresponds to its high liquidity.
Traders expect AAVE to make a significant price increase in the short term against the best DeFI tokens.