Choices between Altcoin and Bitcoin crash from the analyst

AltcoinDaily, a popular analyst with a large following on X and YouTube, has his eyes on tokens for the remainder of 2024. He believes that these altcoins offer the best investment opportunity when Bitcoin and crypto markets crash.

Portfolio rebalancing and improving risk diversification are among the most effective strategies for wave market volatility.

Top Altcoin Choices As Bitcoin Leads Crypto Market Flooding

AltcoinDaily will base its September Altcoin Picks on the Federal Reserve. In his opinion, this could start the altcoin season, among confirmed bets with Ethereum (ETH) and Solana (SOL). Beyond the two, the analyst foresees “six new crypto coins poised to explode before 2025.”

Ether (ATH)

Viewing Atir as a leader in the DePIN space, AltcoinDaily sees its ability to build an asymmetric decentralized infrastructure for gaming and AI as an important fundamental. As a GPU marketplace, ATR is positioned to benefit from the AI ​​sector's demand for GPUs that drives DP projects that provide cost-effective decentralized infrastructure.

Continued GPU computing pressure from tech companies, production constraints and growing demand due to AI will provide a tailwind. In this regard, other altcoins that may be of interest in the sector include Filecoin (FIL), Render (RNDR), Akash Network (AKT) and io.net (IO).

Read more: What is DePIN (Decentralized Physical Infrastructure)?

Ondo Finance (Ondo)

ONDO is presented as “Institutional Grade Finance for Everyone”. AltcoinDaily says this token is set for discovery before 2025. It is based on BlackRock CEO Larry Fink's statement that the tokenization of financial assets is in the future.

This choice comes as Real World Assets (RWA) is a key narrative in 2024 and is among the industry's leading trends. Notably, Ondo's finance ecosystem enjoys backing from TradFi titans such as Founders Fund, Pantera Capital and Coinbase.

“Projects like RWA and DePIN, which combine productive assets such as CPUs, GPUs, Wi-Fi routers, dash cameras and personal weather stations with DePIN initiatives, can take a different direction. As these projects scale in terms of users and adoption, their protocols will be more understandable to traditional investors.” They need to grow in,” Fluence co-founder Tom Trowbridge recently told BeinCrypto.

Ondo's peers in the RWA sector that may also be interested include Propy ( PRO ), TrueFi ( TRU ), and OriginTrail ( TRAC ).

LYX

The altcoin represents a “blockchain built for social, cultural and creative activities” that is the key to unifying digital life. It is an Ethereum-twin blockchain with new standards and protocols, drawing the analyst to call it “a better Ethereum”.

“Like FriendTech and the addition of SocialFi, they have a big presence in 2024. As the social aspect of blockchain continues, Luxo is a protocol to watch,” AltcoinDaily points out.

Capital into LXY can flow into peer SocialFi tokens such as LimeWire (LMWR) and Roundtable Token (RTB), formerly BBS, a reward token for the Roundtable platform.

Read more: What is Friend.Tech? A deep dive into the Web3 social media application

AIT Protocol (AIT)

The AIT protocol uses train-to-find models to advance the development of artificial intelligence (AI). Creating a decentralized job market for AI data annotation requires training AI models using blockchain. Animoka Brands is one of the investors of the protocol.

Due to growing demand and, therefore, adoption among Asian markets, BitPanda and BingX exchanges AIT have been listed recently. The protocol has a chatGPT version available through the Albert.AITProtocol.ai product that solves complex mathematical and logical questions.

“The AIT protocol is a hidden gem in the AI ​​space,” the analyst added.

Foxy

The altcoin will pass as the main meme coin in the Linea ecosystem, Ethereum Layer 2, making transactions faster and cheaper. Peer to the Base and Arbitrum chains, the analyst considers FOXY an undervalued altcoin.

According to AltcoinDaily, Foxy is in a better position to profit than Base and Arbitrum for the rest of 2024 with the support of the Linea deal. Coinbase, which supports Base, does the same for Brett, which operates under the Base ecosystem. So, with eyes peeled on meme coins, traders can consider Brett, SNEK and Shiba Inyun (SHIB).

AltcoinDaily lists Off The Grid, a project by Gunzilla Games, although it hasn't launched yet. With excitement around the game growing, especially among gamers, investors can consider projects such as ImmutableX (IMX), Stargaze (STARS), Exverse (EXVG), Superverse (SUPER) and Illuvium (ILV).

Altcoin season ideas

As BeInCrypto reports, Ki Young Joo, founder of on-chain analytics platform CryptoQuant, recently predicted an altcoin season. He based his prediction on increasing activity in crypto-wells that seem to be preparing for an altcoin rally.

“The purchase volume limit for altcoins excluding Bitcoin and Ethereum is increasing, indicating that strong purchase walls are being set up,” Zhu said.

Read more: 11 Cryptos to Add to Your Portfolio Ahead of the Altcoin Phase

Amid the ongoing market crash, investors may see an opportunity to acquire tokens at a discount. However, others, like Brian Quinlivan, lead analyst at Sentiment, see a lack of enthusiasm for the altcoin season due to recent price increases.

“Speaking of the altcoin season, we're not seeing any significant trader enthusiasm for it. Traders have been at least a little bit more bullish since we started seeing the bullish trend over the last 3 days,” Quinlivan told BeinCrypto.