“Time will tell”

The most ambitious statement came from CryptoQuant: “Altcoin season is starting!” The company’s analysts highlighted that “a new altcoin season for the cryptocurrency sector may be on the horizon” based on a trend observed in Ethereum (ETH) indicators, the most famous cryptocurrency after Bitcoin.

The analysts’ comment is as follows: “ETH has recently shown more interest in derivative market contracts than the original cryptocurrency.

One of the driving factors behind this could be the news cycle related to the approval of funds (ETFs) traded on the spot exchange for the asset.

Besides ETH recently receiving more speculative interest than BTC, users opening contracts are taking higher risks due to greater leverage. If Ethereum’s price continues to consolidate in the current range, an altcoin season is highly likely to start sooner than expected. Given this shift in trend, only time will tell how things will develop in the market in the near future.”

“Triple increase”

AMBcrypto also noted that the collective market value of alternative cryptocurrencies has increased by more than 10% in the last two weeks, reaching $1.1 trillion. According to Trader Tardigrade, the rise in the sector could potentially triple the market value of altcoins.

$15 trillion claim

Rekt Capital analysts, pointing out that the altcoin market value is on the verge of recording its highest weekly close since the beginning of last April, commented: “Such a move could confirm the prevailing bullish sentiment in the market and potentially trigger a new alt season marked by rapid price increases across altcoins.” Although MN Trading’s founder Michaël van de Poppe also upped the ante by claiming that the total market value could rise by 450% to $15 trillion based on current figures, it is worth noting: This is not investment advice.

Transfer worries the crypto market

The cryptocurrency market recorded a sharp decline following the movement in the wallets belonging to the Mt. Gox exchange, which went bankrupt 10 years ago. The wallets of the Japan-based Mt. Gox exchange, which was hacked in 2011 and went bankrupt in 2014, became active. 107,000 Bitcoins worth $7.2 billion were transferred from the exchange’s wallets. These transactions marked the first activity in Mt. Gox’s cold wallets in over five years. Subsequently, the crypto market turned red. Bitcoin, which had risen to as much as $70,700, fell to $67,400, a nearly 5% drop. Ethereum, which was hovering around the $4,000 mark, dropped to $3,820.

Why were 107,000 Bitcoins moved?

In the crypto market, Mt. Gox transfers were interpreted as part of the exchange’s repayment plan to creditors. Mt. Gox’s trustee had stated that creditors should expect basic, interim, and early lump-sum payments by October 31 as the liquidation process progressed. As part of the repayment plan, the identity verification processes of creditors began in January. It is noted that Mt. Gox owes 127,000 creditors $9.4 billion worth of Bitcoin.

Will 2025 be Solana’s year?

Another cryptocurrency highlighted by global analysts is Solana (SOL). While some predict that “2025 will be Solana’s year,” many companies have started to focus on SOL analyses. One of them is Changelly… The company believes that SOL, which was trading at around $167 yesterday, will challenge $300 in 2025: “Considering Solana’s historical prices, it is assumed that Solana’s minimum price in 2025 will be around $253.69. The expected maximum SOL price could be around $303.20. On average, the trading price in 2025 might be $260.87.”

“DOGE will hit $0.30”

He is known as The Crypto Dog… He has 784,000 followers on X. He is known for his accurate predictions about cryptocurrencies since 2011. The Crypto Dog’s new prediction is about Dogecoin (DOGE): “It will increase by 78%, reaching $0.30.” DOGE, which is openly supported by the world’s second-richest person, Elon Musk, was trading at around $0.16 yesterday.