Saturday, June 19, 2021
Home Crypto News Analysis Coin Metrics Researcher Nate Maddrey Gave Assessment That Altcoin Season Is Coming

Coin Metrics Researcher Nate Maddrey Gave Assessment That Altcoin Season Is Coming

- Advertisement -

Coin Metrics researcher Nate Maddrey gave a general assessment of the market in his article, pointing out that the altcoin season is coming. The researcher said 2021 could be the turning point for altcoins.

Nate Maddrey, who began his post with a brief statement about Altcoin, stated that many altcoins appeared during the 2017 ICO craze, but many of them disappeared. He said that with the emergence and rise of Defi, altcoins began to become popular and investors began to diversify their portfolios with these tokens.

He pointed to the current rally, saying that some of the money flowing into Bitcoin and Ethereum could shift to altcoins.

Maddrey said that the rally is different from other bull rallies that have influence of institutional investors, but altcoin investments are shaped by the interest of retail investors.

“Altcoin investors are often retail investors who want to make a profit. Institutional investors, on the other hand, buy Bitcoin and Ethereum according to their liquidity and risk management.”

Since December 2020, Bitcoin and Ethereum have outperformed many altcoins, Maddrey said, But there are altcoins that have outperformed BTC and ETH.

Cardano: the number of active addresses in 2021 has seen an increase of 146% since December 2020.

Decred (DCR): outperformed Bitcoin and Ethereum, rising 126% since December 2020. DCR challenges some of the innovations built on Ethereum, the researcher said, that the DCR active addresses are on the rise.

The Doge coin, which has increased under the influence of TikTok and Elon Musk, has risen 174% since December. Researcher Maddrey said the Doge demand could be an early sign that altcoin season is coming.

altcoins price increase
Source: Coinmetrics reference rates

DeFi rising

Nate Maddrey stated that DeFi tokens outperformed Bitcoin and Ethereum. Considering December January 2020 – January 17, 2021, Maddrey noted that Uniswap, Aave, Synthetix, MakerDAO, SushiSwap and curve had more growth compared to Bitcoin and Ethereum.

defi coins return in 2021
Source: Coinmetrics reference rates

Buy and Sell Cryptocurrency at Paybis

“At this stage, DeFi is attracting interest from retail investors rather than institutional investors. The year 2021 could be a potential turning point for altcoins, driven by the disappearance of old technology, and the increasing flow of money in Defi by institution’s.”

- Advertisement -
Albert Brown
Albert Brown has obtained his master's degree in Stock Trading And Investing. His specialty is analyzing the price actions of crypto and stock markets. Albert provides a major role in TheCryptoBasic as a crypto analyst. He is also known for his work on Twinkle Magazine and TipRanks.


Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

Report: Bitcoin Whales Holdings Are Rising As BTC Whales Are Buying The Dip And Not Selling

Santiment on-chain data analytic firm reports that Bitcoin whales are still buying the dip and not selling their BTC holdings. They are taking advantage...

Weiss Ratings Shows Cardano, Polkadot, Cosmos, Atom, And Fantom Technologies Are Superior Than Ethereum

Global ranking firm Weiss has released a report showing five altcoin with technology superior to the world's second-largest coin, Ethereum. ...

In A Recent 5 Hour Interview With Lex Fridman, Charles Hoskinson Said Cardano Is Far Better Than Bitcoin And Ethereum

In a latest interview with well-known You tuber Lex Fridman (Video Below With Timeline) Charles Hoskinson said that Cardano (ADA) is better than Bitcoin,...

Grayscale Assets Under Consideration List Move To A Total Of 31, Adding 13 New Coins Today

Grayscale seeks to increase its assets under management with the asset manager taking a key interest in DeFi focused crypto-assets according to the latest...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.

follow us in feedly