• A new wave of low-cap altcoins is emerging, enjoying massive gains in the crypto market.
• LBank Co-Founder Johnason Chan believes this surge might signal the start of a new bull market.
• According to Chan, mid-cap cryptos like Aptos (APT), Floki (FLOKI), and Highstreet (HIGH) have seen impressive rallies, with APT up 380% in 30 days.
Emerging Low-Cap Altcoins Signal Bull Market
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).
Impressive Price Gains for Mid-Cap Cryptos
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.
Fed Chair Powell Hints at Disinflation
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, according to Chan. The Co Founder also sees a potential bull market emerging towards the fourth quarter of 2023 before Bitcoin’s halving event takes place in around 400 days.
Low Cap Tokens Drive Optimism Among Investors
For now, all eyes are on these emerging stars of the altcoin market as they propel optimism among investors. „FLOKI was one of our star listings last year,“ Chan said,“and is continuing to reflect how traders behave.“
About LBank
LBank is one global launchpad for novel cryptocurrencies and blockchain projects established in 2015 that offers specialized financial derivatives, expert asset management services and safe crypto trading to its users. The platform holds over 7 million users from more than 210 regions across world and ensures integrity of user funds while contributing towards global adoption of cryptocurrencies.
