Bitcoin’s (BTC) dominance over the cryptocurrency market fell slightly to 53% from its highs at 55%. Meanwhile, altcoins’ total capitalization remains above $700 billion, and investors expect an altseason.
Amid high expectations of what has already been called a bull market by some analysts or a bull rally by more conservative ones, two cryptocurrencies surge as ‘worth watching’ for the next altseason.
In particular, Nano (XNO) and Avalanche (AVAX) shine among thousands of other digital assets. Interestingly, both offer scalable competitive advantages against the two leaders, Bitcoin and Ethereum (ETH). They feature novel technologies with faster and cheaper transactions while improving finality and network capacity.
Nano (XNO) YTD price chart. Source: Finbold
Notably, the most relevant surge was within its exchange volume. Nano 24-hour volume is now at $68.31 million, featured among the top 93 cryptocurrencies in volume. This means a 47.26% volume over its $168.55 million market cap.
Nano (XNO) market cap and volume. Source: CoinMarketCap
Meanwhile, XNO is up 60% against BTC since December 11. Trading by 0.000031168 BTC at the time of publication versus the 0.000019452 BTC price two days ago.
XNO/BTC daily chart on Kraken. Source: TradingView
Avalanche (AVAX)
On Avalanche, JPMorgan Chase & Co’s (NYSE: JPM) blockchain arm, Onyx, announced to join its ecosystem in November. This announcement leveraged AVAX among relevant traditional finance institutions, possible by Avalanche’s subnets technology.
It is notable that AVAX is now trading at $39.88 by press time. Avalanche’s native token is up 266% YTD, considering a price of $10.89 per token by the start of the year.
Avalanche (AVAX) YTD price chart. Source: Finbold
Particularly, Avalanche shines in its decentralized finance (DeFi) ecosystem. AVAX features among the top seven chains, with a $837.97 million total value locked (TVL). This value is distributed in 349 protocols, collecting more than $211,500 in fees in a day.
Moreover, the token has a market cap 15.69 times higher than its TVL, which is a better ratio than that of its main competitor, Solana (SOL).
Top 7 DeFi projects. Source: DefiLlama
However, investors must remain cautious, do their due diligence on each project, and develop a solid risk management strategy. There are no guaranteed results in the volatile crypto market, despite bullish signals of a coming altseason and positive indicators for the aforementioned cryptocurrencies.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
