Bitcoin has seen a topsy turvy week, dropping to around $93,000 after nearly hitting $100,000 last Friday, before rising back to a current price of $95,000.
As the growth of BTC and major alts slows, which cryptos might be worth considering instead?
BTC Growth Slows After Weeks of Bullish Momentum
It’s been a slower week for BTC holders in comparison to the previous fortnight.
BTC’s price is down 1.6% since last week’s all-time high – meaning its market cap has dipped to $1.88 trillion.
BTC had been on a roll for a while, but traders are opting to lock in profits, rather than wait for new highs.
However, many experts believe an uptrend continuation toward $100K is still on the cards.
According to Leon Waidmann, head of research at The Onchain Foundation, stablecoin inflows to exchanges recently reached a record monthly high, indicating that traders are swapping USD-pegged assets for risk-on cryptocurrencies.
Stablecoin inflows to exchanges hit $9.7B in 30 days!
— Leon Waidmann | Onchain Insights🔍 (@LeonWaidmann) November 21, 2024
The LARGEST monthly inflow EVER.🔥
Stablecoin liquidity is back.💵
Speculative demand continues to explod!📈 pic.twitter.com/9DQ5j6dCHK
Meanwhile, BlackRock’s IBIT Bitcoin spot ETF launched options trading last Wednesday, closing the opening day with $1.9 billion in notional exposure. 354K contracts were traded, with 289K being calls (predicting the price will go higher).
Bloomberg ETF analyst James Seyffart said this activity was a significant driver in Bitcoin’s rally.
UPDATE: Final tally of $IBIT's 1st day of options is just shy of $1.9 billion in notional exposure traded via 354k contracts. 289k were Calls & 65k were Puts. That's a ratio of 4.4:1. These options were almost certainly part of the move to the new #Bitcoin all time highs today pic.twitter.com/IN3s9hajJ2
— James Seyffart (@JSeyff) November 19, 2024
So, despite the slowdown in BTC’s price, conditions still look positive for the world’s largest cryptocurrency – but that doesn’t mean that BTC will rally past $100,000 soon.
We may see the coin trade sideways – or dip further – as the market digests the recent gains.
Which Cryptos Could Explode Next?
With many major cryptocurrencies now slowing down, some traders are looking towards low-cap coins as an alternative.
Here are 5 cryptos that could still provide big gains.
Pepe Unchained
Pepe Unchained is among the most anticipated new meme coins in recent memory.
It’s currently undergoing a presale and has raised $56 million, making it one of the most successful ICOs of the year.
There’s a huge market demand, and once it launches on exchanges, buying pressure will result, potentially pumping its price.
The team is building a meme coin-themed Ethereum layer 2 blockchain that is 100x faster and far cheaper than the Ethereum main network.
Perhaps its most anticipated feature is Pepe Pump Pad, a two-click meme coin generator similar to Solana’s Pump.fun.
Multiple Pump.fun tokens reached billion-dollar market caps, but with a tailwind from Ethereum’s deeper liquidity, there’s nothing stopping Pepe Pump Pad tokens from going even further.
There are just 15 days until the presale ends.
Crypto All-Stars
Crypto All-Stars is an innovative staking app that supports deposits for 11 top meme coins, including Dogecoin, Shiba Inu, Pepe, Bonk, Floki, and more.
Given that some of these meme coins have exploded recently, it’s no surprise that Crypto All-Stars is getting a lot of attention.
Imagine generating compound interest on assets that are doubling in value in a single month. You can with Crypto All-Stars – but there’s a catch.
Those who want to extract the biggest staking returns must hold $STARS, and their rewards are proportional to how much they have. This creates a long-term demand stream for the token.
The project is currently undergoing a presale and has just enjoyed a record-breaking day, passing the $6.5 million funding milestone.
Currently, investors can buy $STARS at presale for $0.0016254. Crypto All-Stars’ team accepts payments using both crypto and bank cards.
Visit Crypto All-Stars Presale
Best Wallet Token
If Bitcoin does bounce back and reach $100,000, it will likely draw even more people into the market.
And there’s one piece of infrastructure that will be in tall order: crypto wallets.
However, existing wallets like MetaMask, Trust Wallet, and Phantom are far from beginner-friendly. This is where Best Wallet comes in.
🔥 Something BIG is coming to Best Wallet! 🔥
— Best Wallet (@BestWalletHQ) November 20, 2024
In the next 24 hours, we’ll be dropping alpha on an exciting new project—something completely different from anything we’ve featured before.
The potential here is massive, so load up your wallet with $ETH and be ready to move fast.… pic.twitter.com/VTYVztgfY0
It’s a next-generation “super app” that accommodates all the user’s needs from a single dashboard.
One of its most exciting features is ‘Upcoming Tokens,’ a terminal where users can invest in various vetted presales without visiting the websites. The feature provides all the necessary data, such as whitepapers and audits, and even allows users to track their presale investments.
Best Wallet is also multi-chain, functioning on over 60 blockchains, including Bitcoin, Ethereum, and Solana.
The Best Wallet token unlocks exclusive perks such as discounted trading fees and higher staking yields on partner projects. It’s undergoing a presale and has raised over $1.3 million so far.
Visit Best Wallet Token Presale
Bitcoin Cash
With Bitcoin trading above $90,000, Bitcoin forks are also doing well.
That tells us that provided Bitcoin keeps rising, then forks will too. Bitcoin Cash is currently leading the way, not just among Bitcoin forks but also among the top 100 cryptos by market cap.
While Bitcoin’s primary purpose is to store value, Bitcoin Cash aims to be used for everyday transactions, such as buying groceries or coffee. It does this by boosting scalability and lowering transaction fees.
#BitcoinCash currently the #1 top mover in the past 24 hours $BCH: peer to peer digital cash 💵 as INTENDED
— salx (@salvatore1x) November 21, 2024
Read: Hijacking Bitcoin pic.twitter.com/RIjHsjHsVo
Bitcoin Cash is currently trading at $501, but it was as high as $563 last week. It’s up 2% today, 12% this week, and 41% this month. It currently holds a $620 million 24-hour trading volume.
Indeed, this price and volume rally indicates that all eyes are on Bitcoin Cash, which could lead to further gains.
Chill Guy
Alongside Bitcoin forks, several meme coins have exploded recently. Chill Guy is one of the top performers.
It’s a Pump.fun meme coin inspired by the “Chill Guy” meme, which recently went viral on TikTok. The token launched last week and has already hit a market cap above $630 million, reaffirming the meme’s viral allure.
Analyst Charlesfx_ suggests that the narrative surrounding Chill Guy keeps gaining strength, which will enable its price to continue rising in the coming weeks.
Very easy trade as chill guy keeps gaining mindshare imo, guys will just wake up in the morning and find the lore and just max bid, if you’re positioned early enough you’re doing yourself a disservice yeeting your bags, I mean what if it giga sends ? https://t.co/wRg7C0Y3lN
— Charles (@charliefx_) November 20, 2024
Investors should not discount the power of organically viral internet memes – just look at Pepe the Frog, Moo Deng, or Peanut the Squirrel.
Coupling this with the current favorable market conditions, it’s easy to see why Chill Guy could keep exploding.
It’s trading at $0.627, up 31% today and over 5,000% since CoinGecko began tracking its price data.
The project currently has seen $251 million in 24-hour trading volume.