Published on juni 14, 2024, 6:26 am
Image source: Fox News
```json { "TLDR": "Despite challenges, altcoins below $10 billion market cap are showing potential for investors as smaller cap crypto assets have been trading lower since Bitcoin's peak. Smaller cryptocurrencies have weakened against larger ones recently. Metaverse-related tokens displayed the lowest returns. Institutional interest in altcoins is growing, with Franklin Templeton planning a new crypto fund while recognizing Solana network. Readers are advised to conduct thorough research before making any investment decisions." } ```
The altcoin market, despite facing challenges in the past four months, is now showing potential for investors. Altcoins with market capitalizations below $10 billion are showcasing opportunities as they have been trading lower since Bitcoin reached a new peak earlier this year.
RealVision’s chief crypto analyst, Jamie Coutts, highlighted that smaller cap crypto assets have been facing downward trends since Bitcoin’s high in March. Despite this, Coutts remains optimistic about potential opportunities once the market stabilizes.
Recent data from Bitformance reveals that over the past three months, the top 200 equal weight index has dropped by over 30% compared to the Market Cap index. This decline signifies weaker performance of smaller cryptocurrencies against larger ones dominating the market cap index.
While Bitcoin and Ether experienced modest declines of 11% and 5% respectively in the last three months, metaverse-related tokens showed the lowest returns within the index with a negative 44.13% return during this period.
Tokens like The Sandbox (SAND) and Decentraland (MANA) in the under $1 billion market cap range recorded declines of over 15% in just one week according to CoinGecko data.
Institutional interest in cryptocurrencies continues to expand beyond Bitcoin and Ether. Recently, Franklin Templeton announced plans for a new crypto fund tailored for institutional investors to explore altcoins further. Although the specific altcoins for this fund have not been disclosed, there has been recognition of the Solana network by Franklin Templeton.
It’s essential to note that this article does not provide investment advice. All investment decisions involve risks, and readers are advised to conduct their own thorough research before making any financial moves.
Original article posted by Fox News
