Market expert Lark Davis has recently taken to social media to assert that the much-anticipated altcoin season is far from over despite short-term corrections and challenges the broader crypto market faces. Davis believes that significant opportunities lie ahead for altcoins, particularly as their total market capitalization (excluding Bitcoin and Ethereum) hovers around $1.05 trillion. Key Factors For Impending Altcoin Season The expert points out that the current altcoin market cap is nearing its previous high of $1.13 trillion from November 2021. He recalls a similar scenario from February 2021, when the altcoin market cap tested the highs from January 2018 before breaking through. This breakout resulted in an impressive surge from $360 billion in February 2021 to $1.13 trillion by November 2021—an increase of over 200%. Davis firmly believes that once the altcoin market cap surpasses the $1.13 trillion threshold again, we could witness one of the largest altcoin seasons in the history of cryptocurrency. Related Reading: Whales Snap Up 30 Million XRP As Ripple Launches Its RLUSD Stablecoin Several key factors contribute to Davis’s optimism regarding the impending altcoin surge: Bitcoin’s Performance: Currently at all-time highs, the Bitcoin price strength often catalyzes interest in altcoins. Political Transition: With Donald Trump set to take office in just 34 days, market sentiment may shift favorably towards cryptocurrencies. Global Rate Cuts: Central banks worldwide are reducing interest rates, which typically increases liquidity in the market. Increased Capital Investment: An influx of cheap capital is making its way into the cryptocurrency space, setting the stage for potential growth. Risk-On Environment: The current market conditions are among the strongest for risk-on assets, creating an ideal backdrop for altcoin investment. Rally Anticipated As Bitcoin Dominance Rises Echoing Davis’s sentiments, crypto analyst Miles Deutscher emphasizes that the real altcoin season has yet to commence. He points to compelling historical evidence suggesting that alt-seasons are not mere coincidences but rather distinct seasonal phenomena backed by statistical patterns. Historically, Ethereum (ETH) has shown impressive returns from January to May, often outperforming Bitcoin during this period. During these months, Ethereum averages about 28% monthly returns, compared to a mere 3% for the rest of the year. Related Reading: MicroStrategy’s Bankruptcy Risk: CEO Warns Bitcoin Must Drop To $16,500 To Trigger Collapse In addition, the analyst asserts that the current environment is particularly favorable for this rotation, as Ethereum has historically outperformed Bitcoin by approximately 20% per month during alt-seasons. As Bitcoin’s performance strengthens, so too does the likelihood of capital flowing into Ethereum and other altcoins. This rotation is already observable in the recent surge in Bitcoin dominance, which has mirrored patterns seen in previous alt-seasons around 2017 and 2021. At the time of writing, ETH, the largest altcoin on the market, is trading at $3,686, down 4.4% over the 24-hour period and nearly 6% over the week. Featured image from DALL-E, chart from TradingView.com
While Bitcoin (BTC) and other leading cryptocurrencies have been making headlines with their recent gains, an often-overlooked altcoin, JasmyCoin (JASMY), has delivered an astonishing 861% surge year-to-date, outperforming the top 100 tokens in the market. As of Thursday, JASMY broke out of a seven-month consolidation phase, climbing to $0.054. The Altcoin Outperforming Major Cryptos In addition to its impressive yearly performance, JasmyCoin has seen notable gains over shorter time frames, recording increases of 118%, 162%, and 211% over the past seven, fourteen, and thirty days, respectively. Related Reading: Michael Saylor Predicts Bitcoin Market Cap Of $280 Trillion By 2045—What Will The Price Be? Market experts anticipate that the overall market’s bullish trend could continue at least until the second quarter of 2025, suggesting further growth potential for JASMY, which remains 98% below its all-time high of $4.79, reached during the 2021 bull market. However, with further gains expected in the coming months, potentially reaching a cycle top by October 2025, Ethereum (ETH), the second largest crypto, will play a key role as it often leads the way for further price appreciation like the altcoin in question. But, what exactly is JasmyCoin, and why has it attracted significant investment in recent weeks? JasmyCoin Eyes Key Resistance Levels JasmyCoin is the native token of the Jasmy platform, which aims to democratize data usage by integrating blockchain and Internet of Things (IoT) technologies. The platform provides a decentralized and secure infrastructure that allows individuals to control and monetize their personal data. Users can safely store and manage their data while granting businesses access with their consent. Built on the Ethereum blockchain, this altcoin is an ERC-20 token with a total supply of 50 billion tokens. Its primary uses include data transfer and storage, payment for services, facilitating market entry for institutional investors, offering crypto loans, and optimizing tax strategies. In contrast to Bitcoin’s year-to-date gains of 120%—following its recent all-time high of $104,000—JASMY has significantly outperformed the largest digital asset. Related Reading: XRP Downtrend Is Only Temporary: Analyst Gives Reasons Why Price Is Headed For $3.2 According to CoinGecko data, Bitcoin saw a trading volume increase of 64% compared to Wednesday, while JasmyCoin recorded a nearly 100% surge in trading volume during the same period. As JasmyCoin continues its upward trajectory, technical analysis reveals critical resistance levels at $0.063, $0.067, and $0.070 on its JASMY/USDT daily chart—heights not seen since January 2022. These levels could pose challenges to further price surges for the altcoin. Conversely, key support levels to monitor include $0.040, which is vital for maintaining bullish momentum, and $0.031. Holding these support levels will be crucial for the altcoin as it aims to inch closer to the $0.10 mark. Featured image from DALL-E, chart from TradingView.com