Altcoin bloodbath: Amid drastic altcoin drops, analyst says this coin has outperformed Ethereum

Altcoin Performance Amidst Market Volatility

Amidst recent market fluctuations in the cryptocurrency realm, concerns regarding altcoins persist. Despite Bitcoin's resurgence and meme coin enthusiasts, retail involvement in altcoins appears subdued. YouTube statistics suggest a decline in crypto-related viewer engagement compared to previous market surges.

Market catalysts for altcoins have been scarce, with the Bitcoin ETF narrative driving the current cycle. Certain sectors, such as meme coins, AI, and Real World Assets (RWAs), have performed well, but major altcoins have lagged behind.

TON's Promising Outlook

In the midst of these concerns, analyst Altcoin Buzz highlights TON (The Open Network), associated with Telegram's extensive user base of 900 million. TON has outperformed Ethereum in terms of daily active addresses since June. On June 3rd, TON's daily unique addresses peaked at 568,830, surpassing Ethereum's 351,000. Furthermore, on May 17th, TON's daily transaction count surged to a year-to-date high of 9 million, compared to Ethereum's 1.1 million.

Analyst Recommendations

Analyst Miles Deutscher advocates for accumulation of RWA-related assets, including ETH and selected altcoins. He suggests a long-term perspective (6-12 months or more) to navigate market volatility and utilize low volatility periods for acquiring potential altcoins.

Deutscher identifies Mantra ($0.85) and the Deepin sector as promising investment opportunities due to innovative projects and AI ties. Meme coins also feature in his strategy, despite recent dips. Coins like Pepe ($0.11) and Whiff ($2.26) are targets for accumulation, with the expectation of higher valuations in the future.