Substantial Crypto Releases Set the Stage
Token Unlock, a platform dedicated to tracking the release schedules of digital assets, indicates that May will witness one of the most substantial influxes of tokens into the cryptocurrency market this year.
According to TokenUnlocks, the large-amount unlocks in May (unlocked amount greater than $10m) include DYDX ENA SUI MEME GAL MAVIA APT STRK AEVO ARB APE IMX ROSE PIXEL PYTH AVAX ID YGG OP PRIME, etc., with an unlock value of over 3.661 billion US dollars. Among them, the unlocked… — Wu Blockchain (@WuBlockchain)
Anticipating An Altcoin Surge
Meanwhile, El Crypto Prof, a prominent crypto analyst on X, recently projected a significant rally for the altcoin market based on historical market cycles. He notes that post-Bitcoin halving periods, like those in 2016 and 2020, typically lead to a phase of accumulation in altcoins, followed by a market rally.
Anyone who is bearish here obviously hasn’t done their homework. Altcoins about to enter the parabolic curve, if we repeat 2016 and 2020. History doesn’t repeat itself, but It often rhymes.-Accumulation1⃣
Months of glory ahead imo. — 𝕄𝕠𝕦𝕤𝕥𝕒𝕔ⓗ𝕖 🧲 (@el_crypto_prof)
-Backtest2⃣🎯
-Send it3⃣
The analyst suggests the current market mirrors these past cycles, indicating a potential upcoming surge. He believes this could result in the altcoin market cap potentially doubling from its current estimate of around $1 trillion to $2 trillion.
Additionally, Daan Crypto Trades, another analyst, supports the view that the ETH/BTC ratio is a more accurate measure of altcoin market sentiment than the SOL/BTC ratio, signaling positive prospects for altcoins.
Featured image from Unsplash, Chart from TradingView.