Mark this date – Jan 10, 2024. The crypto market has finally went mainstream!
For many diehard crypto believers, the approval of a Bitcoin ETF by the United States SEC marks a crème de la creme of milestones. It is an anointing of a peripheral asset class that has been trying to grow out of its politically constrained growth.
Bitcoin is the godfather of crypto. Through an ETF vehicle, billions of dollars will soon find its way into crypto.
And few, if any, would contend that Bitcoin is the gateway crypto. So, can we expect the altcoins market to experience a boom as an aftermath of a BTC ETF launch? You bet!
In the previous SCN’s crypto market assessment back in early November 2023, we “luckily” predicted that the bull market has finally started. Whether luck has a place in our call or a largely intelligent deduction, we are glad where the crypto market is heading towards.
So, if I have a hundred dollars to invest in the altcoins market, which categories should I put the fund in?
Let’s breakdown the altcoins market as best and as comprehensive as we can.
- Layer 1 such as Solana, Sui, Cardano
- Defi
- DEX
- Games (all manners of games including gambling)
- Infrastructure (building blocks of an application ecosystem such as database)
- Oracles
- NFTs
- Algorithmic Stablecoins
There are many great projects in each of the category above. We shall take a look in our next article on doing our “best” to identify multibaggars. Stay tuned in the next few days!
