The cryptocurrency market is currently experiencing what crypto exchange Bitfinex analysts call the arrival of what altcoin season, which is largely driven by the recent performance of Ethereum (ETH). This shift in focus from Bitcoin (BTC) to other digital assets has been attributed to several key developments within the Ethereum ecosystem, including the potential approval of a spot ETH-ETF, the upcoming Dencun upgrade, and the introduction of highly anticipated scaling solutions and new staking platforms such as EigenLayer.
BTC's dominance reached a high of 55% in December 2023 and then stabilized above 50%. A break below this level could signal the start of altcoins** and is expected to continue in the coming months. In this ever-changing market landscape, four selected cryptocurrencies are being closely watched by investors as they are likely to soar this weekend as the broader altcoin recovery and wave of market dynamics continues.
Optimism (OP): A beacon of recovery and growth
Recently, Optimism (OP) has seen a significant resurgence, rooted in the rising usage of the platform following the integration of the WorldCoin (WLD) privacy token. In fact, Optimism (OP) even outperforms its competitor Arbitrum in terms of trading volume – an undeniable testament to its growing appeal.
This year, optimism (OP) is expected to soar and could reach 7$49. Next year is likely to witness even more impressive**, hinting at a possible 10A peak of $62. These **, which are based on technical analysis and market sentiment, indicate a clear bullish stance on the token, and its fundamentals are indeed strongly supported.
As the DeFi and NFT space prepares to expand its adoption and utility, the future of optimism (OP) is promising. But at the same time, optimism (OP) must address broader ecosystem development needs, overcome potential regulatory hurdles, and prioritize enhanced governance and developer tools.
Arbitrum (ARB): Moves through volatility to expansion
Arbitrum (ARB) has increased the efficiency of Ethereum, making significant progress since its launch in the Layer 2 (L2) marketplace. Despite experiencing an all-time low in September, the platform has shown resilience, with its native ARB token recovering to 1Around $8.
Arbitrum (ARB) is cautiously optimistic, and based on Arbitrum's growth potential and volatility in the crypto market, it is expected that it could climb to 1 this year$67, which will rise to 2 by 2025$85.
The future of Arbitrum (ARB) is considered bright, and its role in the Ethereum ecosystem is expected to expand with the influx of new DApps and network upgrades. However, competition from other L2 solutions and the unavoidability of the cryptocurrency market could slow down the growth trajectory of Arbitrum (ARB).
Starknet (STRK): TVL Surge and Quest for Stability
Starknet (STRK) has generated interest from users and developers, and has further seen a significant increase in its Total Value Locked (TVL), indicating a renewed trust in the STRK marketplace.
Despite the recent controversy and the drop below $2, the increase in TVL and the underlying market dynamics suggest that Starknet (STRK) could stabilize or even if the broader Ethereum market performs well.
The future of Starknet (STRK) depends on the platform's development activities and the stablecoins held by whales**. While the recent growth of TVL is a positive sign, Starknet (STRK) needs to constantly innovate and expand its offerings to maintain market momentum. Investor sentiment and Ethereum's performance will also play a key role in the evolution of Starknet (STRK)*.
Conclusion
As Bitcoin's dominance begins to wane, Ethereum and other altcoins will be in the spotlight, with Optimism (OP), Arbitrum (ARB), and Starknet (STRK) set to see significant growth.
Optimism (OP) is recovering, especially after hosting the Worldcoin privacy token, leading to increased platform usage and optimistic Arbitrum (ARB) to continuously improve the efficiency of Ethereum, which is expected to remain despite its volatility. Starknet (STRK) has seen a significant increase in its total value locked, indicating the potential to regain market trust and stability.
Optimism (OP), Arbitrum (ARB), and Starknet (STRK) represent opportunities for diversification in the altcoin market in the current bull market.