Talks of Next Altseason Increase as DOGE and LINK Catch Market’s Attention

News
Wed, 07/08/2020 - 14:16
Yuri Molchan
More crypto influencers are starting to discuss the altseason that is believed to be approaching as DOGE has suddenly surged and LINK’s fundamental’s have been improving
Cover image via stock.adobe.com
Contents

Binance CZ is somewhat skeptical of the ‘altszn’ that is expected to start soon as interest in DOGE has risen following its price surge.

Meanwhile, prominent trader Scott Melker has increased his altcoin exposure by more than fifty percent.

‘Not all alts will pump during the next altseason’

The head of Binance, Changpeng Zhao, has shared his take on the next altseason, saying that only those projects that have shown some actual results and utility will be able to pump.

Those platforms that have been gradually pushing their development forward will continue to thrive, he stated.

Image via Twitter

The Ripple CEO previously expressed an even tougher opinion, saying that in the future the majority of coins will disappear apart from the few that can provide users real utility.

Interest in DOGE soars, LINK’s fundamentals improve

The meme-coin DOGE has seen an astounding pump of over 100 percent on Binance, surpassing the growth of all of the other coins on CoinMarketCap.

The rally was largely supported by viral videos on TikTok, which pushed the DOGE price back after a slight retrace.

According to Google Trends data, searches from those interested in buying this coin have soared today.

Image via Google Trends

LINK has also recently seen a massive improvement in its on-chain fundamentals. Now, the analytics firm Glassnode reports that the number of active LINK wallets has surged almost 40 percent over the past twenty-four hours.

Image via Twitter

At the moment, the crypto market is in the green with Chainlink pumping 11.42% and Cardano rising 17.87%, as per CoinMarketCap.

Related
DOGE Named Best Crypto Coin by Elon Musk

Trader Scott Melker’s adds altcoins to his portfolio

Renowned crypto trader, Scott Melker, has joined the lines of those who are expecting altcoins to start pumping soon. He tweeted that his altcoin exposure is now more than fifty percent of his portfolio.

Image via Twitter

He also tweeted that he would love BTC dominance to continue dropping and the Bitcoin price to continue rising to watch altcoins respond to the Bitcoin price breaking higher.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.


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