Many crypto-investors are having a great start this year, with huge pumps and bullish all around. I'll discuss about the bullish and pumping trend of the new year market. Keep in mind I'm no professional analyst so please do your own research before investigating.
I'm not going to talk about these coins individually, but I'll talk about the trend.
Ripple is one of the key coins this year. The price was doubled and it is still trending up. Ripple took over Ethereum's #2 spot and it is now threatening the mighty BitCoin.
Followed by Cardano(ADA), XLM and SNT. ADA has gone up 3x in a week and now #4 in size. XLM and SNT also gone up more than 2x within a week.
There were other bullish coins too, "Tron(TRX)" is the hottest coin, made more than 50x within a month. Now Tron is #6 in size.
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Dent hit almost 5x since the New years day.
While Bitcoin struggled and did not recover from the price drop, the altcoins hare having great time. The keyword for this trend is
#1. Japan
According to diverse source, Ripple is spotted by Japanese whales. After the news Ripplenet is being tested for international money transfer by Korean/Japanese banks, Ripple gained great focus. It's not only XRP but also Cardano. People who had their eyes on Cardano knows it has close relationship with Japan. Cardano has been spotted recently and with the news that Cardano will be listed on Japanese exchanges, the price went moon.
#2. Finance
XRP and XLM were two major coins involved in Finance. Cardano is a platform coin but it is also deeply involved in asset transfer. From the very beginning of Bitcoin, blockchain technology was expected to take a big part in the field of finance. Unlike Bitcoin or 2nd generation coins, XRP is not meant to replace cash. Instead these coins are designed to coexist and help the bank. The financial institutes that are interested in investing cryptocurrencies could easily target those coins because the institutes know the value of these coins.
#3. Small value coins
Recent moon coins have one thing in common. Value per coin/token was really low, no matter how big the total cap of the coin. Ripple being the largest, around $1.5 before price rose, most of the coins were below $1.
ADA, XLM and SNT were the only three coins listed in Korea's biggest exchange "Upbit" that were lower than 1000KRW. Tron was less than a cent when it was first listed on Binance. Dent is still low in price.
I expect more bullish for coins below $1, more specifically below 50 cents for a while. People are looking for small coin pumping at this moment and I think this phenomenon will last for a week or even longer.
I can see bright future in most of these coins and no doubt about their technology but for some coins, do they deserve the market cap size even without mainnet launch or some without testnets?
My expectation, This year is going to be a year for platform coins. More institutes are giving their interest to blockchain technology. Platform coins can offer a good starting point for those institutes to build a blockchain. Especially coins with strong regional base could be very successful.
Q1 might be time for financial coins, but by Q3 definitely time for platform coins.