Memecoins Herald Emerging Bull Market Believes LBank Co-Founder
INTERNET CITY, British Virgin Islands, 6th February, 2023, Chainwire
A new wave of low-cap altcoins is emerging and enjoying massive gains in the crypto market. The surge of these tokens might signal the dawn of a new bull market, hypothesizes LBank Co-Founder Johnason Chan.
These low-cap assets have been accompanied by impressive rallies for mid-cap cryptos like Aptos (APT), Floki (FLOKI), and Highstreet (HIGH). The price of APT, the native token of layer 1 blockchain Aptos, increased by 380% in 30 days. Dogecoin spin-off FLOKI saw its price jump by more than 200% in the same timespan and metaverse gaming coin HIGH recorded a 336% rally.
“As a global launchpad for novel cryptocurrencies and blockchain projects, we are in a unique position to observe the latest developments on the frontiers of crypto,” Chan said. “We listed Highstreet a few months before major competitors and took note of its tremendous performance. The wealth creation stemming from these tokens is signaling the return of bullish sentiment in the markets.”
“Following the hints of Fed chair Jerome Powell on possible ‘disinflation,’ the interest rate hike cycle seems to favor the markets. Some crypto sectors are likely to see even more investment going into Q2,” Chan suggested.
The Co-Founder of global exchange LBank sees a potential bull market emerging towards the fourth quarter of 2023, adding: “And let’s not forget the next Bitcoin halving is coming up in around 400 days.”
For now, all eyes are on the emerging stars of the altcoin market, propelling optimism among investors. “FLOKI was one of our star listings last year, and is continuing to reflect the way traders behave,” Chan concludes.
About LBank
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