Maximizing Gains in the Next Altcoin Bull Run: Top Picks and Market Insights

As Bitcoin (BTC) continues to dominate the market with its price surge above $67k, the spotlight is turning to altcoins for the next potential breakout. Several indicators suggest an impending reversal in Bitcoin dominance, which historically triggers major altseasons. With this in mind, Santiment has identified some promising large-cap altcoins that could yield significant returns.

Bitcoin Dominance and Market Sentiment

Bitcoin's dominance has reached a new yearly high of approximately 56.50 percent. However, the weekly Relative Strength Index (RSI) points to a likely reversal in the near term. This shift could pave the way for altcoins to shine, especially as confidence in the altcoin market grows. The recent approval of spot Ethereum ETFs has boosted cash inflows, further enhancing the appeal of altcoins.

Top Altcoins to Watch

Uniswap (UNI)

Uniswap (UNI) is a decentralized exchange token with a fully diluted valuation of about $7.6 billion. Currently trading around $7.65, UNI has seen a 6 percent increase in the last 24 hours. Despite this, it remains about 83 percent below its all-time high (ATH) of $44.92. With significant on-chain activity and a total value locked (TVL) of $5.5 billion, UNI presents a strong potential for growth in the upcoming altseason.

Shiba Inu (SHIB)

Shiba Inu (SHIB), the largest meme coin on the Ethereum network, continues to attract speculative traders. With a fully diluted valuation of $16.8 billion, SHIB's ecosystem is expanding, particularly with the adoption of the Shibarium layer two network. Although SHIB is down over 80 percent from its ATH, its current ecosystem developments and increased burn rate position it as a contender for substantial gains.

Polygon (MATIC)

Polygon (MATIC) is a leading layer two scaling solution for Ethereum, with a fully diluted valuation of about $5 billion and a TVL of around $12 billion. Despite its price being down more than 82 percent from its ATH, MATIC's widespread adoption across various Web3 projects suggests a strong potential for recovery and growth.

Chainlink (LINK)

Chainlink (LINK) is essential for integrating smart contracts across multiple blockchain networks. With a fully diluted valuation of about $13.4 billion, LINK has seen a recent price surge, trading around $13.4. Despite its broad adoption and crucial role in blockchain infrastructure, LINK is still trading more than 75 percent below its ATH, indicating room for significant upside.

Cardano (ADA)

Cardano (ADA), a prominent layer one blockchain, boasts a fully diluted valuation of about $18.6 billion. Trading at around 41 cents, ADA is up about 4.3 percent in the past 24 hours but remains more than 86 percent below its ATH. Cardano's robust technology and active community make it a strong candidate for future gains.

XRP

XRP, backed by Ripple, has benefited from positive developments in its ongoing lawsuit with the US SEC. With a fully diluted valuation of about $60 billion, XRP has surged over 30 percent in the past two weeks, trading around 60 cents. Despite this rally, XRP is still down more than 82 percent from its ATH, suggesting potential for further growth as legal uncertainties diminish.

Conclusion

As Bitcoin dominance shows signs of reversing, the altcoin market is poised for a significant breakout. Santiment's selection of undervalued large-cap altcoins, including UNI, SHIB, MATIC, LINK, ADA, and XRP, offers investors opportunities for substantial returns. By focusing on these promising assets, investors can potentially maximize their gains in the anticipated altseason.

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