The post Altcoins Poised for Q4 Relief Rally: New Coins Are the Ones to Watch! appeared first on Coinpedia Fintech News
After several months of volatile and uncertain trading, the altcoin market is poised for a welcome relief rally in the fourth quarter of 2023. This optimism is fueled by the anticipation of crypto traders looking to capitalize on profits during the end-of-year festivities, leading to a surge in overall trade volume.
What’s interesting is that some lesser-known altcoins, quietly building their product offerings during the winter months, are projected to outperform their more renowned counterparts.
Altcoins on the Rise
According to insights from Santiment, a prominent crypto market intelligence platform, several altcoins have recently experienced a significant surge in on-chain address activity.
As October brought about a much-anticipated bullish sentiment among crypto enthusiasts, Santiment observed a substantial uptick in demand for the following altcoins:
- Bitcoin Cash (BCH)
- Smooth Love Portion (SLP)
- Mask Network ($MASK)
- LeverFi ($LEVER)
- Civic (CVC)
Increased on-chain address activity is a clear indicator of heightened utility, often accompanied by more frequent price breakouts.
Tether USDT Sees Growth
In addition to the surge in on-chain activity for select altcoins, Santiment has also highlighted a remarkable surge in demand for the leading stablecoin, Tether (USDT). According to the latest data from the crypto market, Tether USDT boasts a market capitalization of approximately $83.2 billion and a daily trading volume of nearly $19.1 billion—nearly three times higher than that of Bitcoin.
This substantial increase in Tether USDT volume, occurring during a bullish phase in the crypto market, is often seen as a sign of fresh capital flowing into the industry.