Traders Anticipate Inevitable Solana Killer Battle Predict Ethereum and Altcoin Market Reversal

Coin Times report:
A highly anticipated cryptocurrency trader predicts that a competitor of Solana (SOL) is preparing for a series of explosive gatherings.
Anonymous trader Criptopaul told his 112,800 followers on social media platform Ten that the Sui (隋) layer one chain has strong market fundamentals and tremendous upside potential.
He pointed out that the total value locked (TVL) in Sui has skyrocketed, which is sometimes seen as a bullish sign for price movements.
TVL refers to the amount of capital stored in protocol smart contracts and is often used to gauge the health of the crypto ecosystem.
He also stated that meme coins built on the Sui blockchain, including Cry (哭泣) and Pug (FUD), could become catalysts for a so-called “Solana killer.”
“At this point, it seems inevitable that Sui will take off. TVL is really exploding, the experience is smooth, retail investors are coming in, and meme coins like BLUB, FUD, and STD are just skyrocketing in sales.”
At the time of writing, Sui’s trading price is $1.55, up more than 43% in the past seven days.
Next, analysts say that last week’s interest rate cut by the Federal Reserve and the decline in the US dollar index could cause altcoins to surge.
The DXY is an indicator that tracks the value of the US dollar against a basket of major fiat currencies. A sharp drop in the DXY is often seen as bullish for risk assets as it indicates investors are spending dollars to accumulate stocks and cryptocurrencies.
“Interest rate cuts, a decline in the DXY, increased risk appetite, a decrease in Bitcoin dominance, a rebound in ETH/BTC, a rebound in altcoins…
Interest rate cuts are a bullish event for risk assets. Keep that in mind.”
He also suggests that Ethereum compared to Bitcoin (ETH/BTC) – sometimes seen as a barometer of the altcoin market’s strength – has bottomed out around 0.0388 BTC and is preparing for a major breakout.
“Get ready to witness ETH/BTC quickly return to the 0.06 level, which is the sentiment’s slight bottom according to CT (Crypto Twitter).”
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Source: Criptopaul/X
At the time of writing, the trading price of ETH/BTC is 0.04235 BTC ($2,681), up 3.47% in the past 24 hours.
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