Altcoin price increases since the last period of 2020 have gained momentum, especially in the last weeks. As Bitcoin rose sharply by breaking the $ 42,000 resistance, there was also a serious capital inflow to Altcoins. This process, in which a lush market was present, enabled many Altcoins to sign new historical peaks. One of the most curious questions among crypto money investors is “How long will the Altcoin season last?”
Crypto asset management firm CoinShares stated that money inflows to institutional cryptocurrency funds increased last week, and most of this was happening in Ethereum. It was stated that this move, which is said to be 245 million dollars, was before the CME Ethereum futures started on February 8.
CME futures, which Ethereum investors were anxiously waiting for, started. Tim McCourt, CME’s managing director and global head of equity products, announced his views on ETH futures. McCourt stated that before CME futures, Ethereum was withdrawn to the level of $ 1490, but the scenario in which investors were worried did not materialize, and that crypto money investors were very interested in Ethereum. He stated that each contract represents 50 Ethereum and 388 contracts were traded, worth about $ 33 million. In addition to these developments, the most important factors for Ethereum pricing can be seen as Ethereum 2.0, scalability Bitcoin pricing. Ethereum’s target after the $ 2000 resistance is estimated to be $ 2400.
XRP, which was priced negatively due to the SEC case and then experienced pump-dump movements, experienced a positive price increase with the effect of the Altcoin season. In this process, where news about the lawsuit directly affects pricing, Bradley Sostack recently demanded that Ripple’s e-mails be examined by the court. It is thought that this review, which has been requested since January 2015, may shed light on many points in the case and change the course of the case. It is of great importance for XRP investors to closely monitor developments regarding the lawsuit.
The Whale Alert account, which tracks the whale movements, stated that many XRP-related movements have taken place and that more than 600 million cryptocurrencies have been moved by Huobi. It can be clearly said that these transactions, which were stated to have taken place on February 09, had a positive effect on XRP pricing.
Link, which has been talking about itself since the beginning of 2020, with both its market value and price rising sharply, continues to rise in the Altcoin season. Once again at the all-time high, Chainlink continues to keep the rising trend support and rose to 7th place, surpassing many coins in market value. It was announced that Injective Protocol, the last IEO performed on Binance, one of the largest crypto money exchanges in the world, will use the Chainlink “oracle”. With such statements, Chainlink continues to increase its awareness and prevalence.
Binance’s coin, Binance Coin (BNB), the largest crypto currency exchange, continues its movements with very sharp increases during the Altcoin Season. BNB soared sharply with Binance Labs investing $ 2.4 million in Plasm Network. With the effect of the increase in demand of Binance users, BNB, which I mentioned in my article on December 31, 2020 and priced at $ 32, is priced at $ 142 with a value increase of 443%. It can be said that there is also a FOMO effect on BNB pricing. In the upcoming period, the privileges to be offered to BNB within Binance and Bitcoin pricing can be seen as the main factors that will determine the BNB price.