A widely followed crypto analyst says altcoin markets are about to explode.
Pseudonymous cryptocurrency trader Rekt Capital says his 396,000 followers on social media platform X that the altcoin market capitalization is about to explode.
"Altcoin market capitalization is on the brink of a historic breakout"
According to the trader, Ethereum (ETH) current run Could carry to a broader rally in altcoins.
“This ETH breakout may serve as fuel for the next phase of altcoin rallies”
ETH is worth $2,432 at the time of writing, up 3.7% in the last 24 hours.
Looking deeper into Ethereum, analyst says The leading smart contract platform is likely to rise to a high range again.
“ETH begins its movement, +8% already
“It looks set to revisit the upper end of the range once again, over time.”
Going deeper into specific altcoins, the analyst Point out that decentralized oracle provider Chainlink (LINK) is falling as a competitor to ETH Solana (SUN) is increasing.
“Today LINK is falling while SOL is recovering
However, both are showing signs of outperformance in the altcoin market.
“Previous outperformance precedes a wave of altcoin rallies and this time may be no different.”
SOL is worth $102 at the time of writing, while LINK is trading at $18.76.
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