A well-known analyst crypto dog They even referred to Layer 1 altcoins as rivals, implying that they are likely to receive more attention than Ethereum. The altcoins being talked about are NEAR and INJ. NEAR is given greater weight by the smart contract protocol Near.
The analyst said NEAR could make a move as soon as tomorrow, if not today. This comment came at a time when the token was up 1.71%, listing at $7.14 at the time of drafting this article. But first you have to find a breakthrough and hit the $9 milestone. Once achieved, the goal is to maintain that milestone for longer.
Crypto Dog added that NEAR was struggling to break above diagonal resistance before asking the community to monitor the token more closely.
INJ fell 0.22% to $35.18. Unless there is a major drop below $30, we are on a soft cushion. The upcoming milestone is $40, which will likely be reached by the end of the year. The analyst hopes INJ can get interesting. yet again. NEAR price prediction It is assumed that the token will perform strongly this year. Likewise, there is speculation that INJ will do the same and strengthen Injective within its ecosystem.
The next seven days are important. Crypto Dog hinted that the direction of NEAR and INJ will be presented in the future. Constant price adjustments can cause weaker hands to leave the list or get pushed out of the broader cryptocurrency market.
Altcoins are also receiving more attention as the Solana community is interested in SOL. The token rose above $182 in the last 24 hours and fell back to $177.03, down 2.10% in the last 24 hours. SOL has gained value by growing 23.89% in the last 30 days.
Bitcoin is expected to lead this trend and set the standard for other available cryptocurrencies. BTC has also retraced its lows at ATH, but its trajectory is somewhat optimistic. For reference, it rebounded to ~$66,000, but is now up to ~$69,800. The halving could further increase the value and spark interest in the cryptocurrency space.
The reason altcoins can attract attention is because of the weight they can accumulate. Moreover, there are fundamental opportunities for altcoins to achieve long-term gains. Traders diversify their digital portfolio and distribute funds such as BTC, ETH and altcoins for better returns.
What we should not forget is that meme coins and AI tokens are trying to leave a mark on the transaction list.
The layer 1 altcoin has reversed interest on its Ethereum rival (ETH is trading at $3,429.10, up 0.985 in the last 24 hours as of this writing), creating a ripple effect for BTC as well.