- The most popular smart contract network, surpassed 2 million ETH burnt this morning.
- Justin Bennett recently tweeted that altcoins are heating up.
This week, many unexpected cryptocurrencies have enjoyed price increases, including ApeCoin and Origin Protocol. In addition, according to statistics from ultrasound.money, the most popular smart contract network, surpassed 2 million ETH burnt this morning.
Solana (SOL) and other altcoins are on the rise, according to a well-known crypto specialist, who updated his prognosis for Bitcoin (BTC) and Ethereum (ETH). Leading cryptocurrency expert Justin Bennett recently tweeted that altcoins are heating up based on a chart showing BTC’s inverted market dominance.
#AltSeason2022 is heating up. 🔥$BTC.D inverted looks bullish af. pic.twitter.com/0Kd1kZbdbq
— Justin Bennett 🇺🇦 (@JustinBennettFX) March 17, 2022
Bitcoin Market Dominance Plays Key Role
Increasing BTC’s inverted market dominance is essentially a gain in altcoin market dominance. There is no doubt in Bennett’s mind that this will happen. Ethereum, the most popular smart contract platform, is now the subject of Bennett’s attention.
He points out that after a 6% gain, ETH is now testing the November trend line. At the time of this writing, the price is hovering around $2,800. After a daily close above that area, the breakthrough should be verified by $3,000. This will be the following litmus test for purchasers. However, a close below the triangle’s support level of $2,500 would keep it intact. His Cryptocademy weekly predicts that Solana is about to break out based on the value of Bitcoin.
He claims that SOL is beginning to emerge. A close above $85 would be required to confirm this. For the time being, this is all just conjecture. A rally to $118 is feasible if SOL manages to break away from this trend line. He went on to say that if the price rose any higher, the $150 barrier would come into play.
