altcoin season is starting, Bankless is bullish on these 10 Tokens in the next three months

Source: Bankless

Compilation: Golem, Odaily Planet Daily

I was wrong, I didn't expect the counterfeit season to come at the end of November.

In early November, when BTC continued to pump while altcoins performed poorly, the market was still worried that this bull market would not bring altcoin gains. Most institutions and analysts also expressed negative views (related reading: BTC hits new highs, can altcoins keep up?). However, by the end of November, TradingView data showed that the total altcoin market cap had nearly doubled since November, and BTC's market dominance fell to 51.4%. At the same time, some analysts said that BTC's market dominance is about to break through the long-term support level, significantly affecting market sentiment and indicating that the altcoin season has arrived.

Being in the alt season can be troublesome. Which Tokens should you buy? Ryan Sean Adams, co-founder of Bankless, suggests that ETH will rise to $4,000 in the next 24 hours. Perhaps this is just his personal fear of missing out, but Bankless' dedicated analyst team has been predicting the price movement of some alts since the start of alt season in November. They expect 10 alts to rise in the next three months based on their analysis.

This article will summarize the Bankless analyst team's specific predictions and reasons for bullish 10 AltCoins, and summarize the win rate of their Token predictions from the end of November to early December for readers' reference.

Win rate forecast from late November to early December: 40%

Apart from the neutral Token, there are a total of 10 Tokens predicted by the Bankless analysis team whose trends will end by the end of November and early December. The predicted results are as follows:

Predicted bullish but fell: Euler (EUL) dropped by 27%;

Predicting a drop but pump: Ethervista (VISTA) pump 66%, UMA Protocol (UMA) pump 78%; FIL (FIL) pump 55%, 1inch (1INCH) pump 80.75%, Blur (BLUR) pump 99.4%;

The predicted downtrend matches the actual decline: Sanctum (CLOUD) pumped 99.69%, GMX (GMX) dropped 18.04%, Kamino (KMNO) pumped 206.37%, CANTO (CANTO) dropped 55.14%.

Among them, the more serious ones are Instadapp (INST), 1inch (1INCH), and Blur (BLUR), and the high-yield predicted Kamino (KMNO) has a pump amplitude of 206.37%. However, the overall win rate of the predicted expiration tokens from the end of November to early December is only 40%.

Bullish Token Inventory

Aave (AAVE)

Track: Decentralized Finance

Reason: Net deposits, active loans continue to rise, favorable valuation indicators

Forecast period: December 2, 2024 to March 2, 2025

Predicted coin price: 238.91 US dollars

Price performance prediction to date: pump 2.88%

On July 31, the Bankless analyst team is bullish on the AAVE price expectation, as Marc Zeller proposed the 'temperature check' upgrade security module on July 25 and AAVE Token plays a key role in the ecosystem.

In the past 30 days, the total active loans of AAVE have reached 125.1 billion US dollars, rising by 46%, and the net deposits have also increased to 313.7 billion US dollars, a year-on-year rise of 49%. The increased demand for leverage has driven the expansion of loans and higher Intrerest Rates. For example, the current Intrerest Rate for borrowing USDT on Aave is 37%, driving a 63% increase in Aave's income.

While the AAVE Token price only pumped by about 16%, which is not in line with the protocol's revenue growth, indicating that the market may not have fully reacted to Aave's recent performance. Therefore, the Bankless analyst team remains bullish on AAVE.

Instadapp (INST)

Track: Decentralized Finance

Reason: the volume continues to increase, the protocol mechanism is innovative

Prediction period: November 26, 2024 to February 26, 2025

Predicted coin price: $5.47

Price performance forecast so far: pump 36.01%

On July 16, the Bankless analyst team was bullish on the expected price of INST, as Fluid (a hybrid of money market and DEX) as the unified liquidity layer of Instadapp, is expected to drive adoption and revenue growth. Since the launch of the DEX on November 1, Fluid's total volume has exceeded 1 billion USD. It currently ranks fifth in 24-hour volume on the ETH network, following only well-known projects such as Uniswap, Curve, Pendle, and Balancer.

Therefore, the Bankless analyst team continues to be bullish on its subsequent price performance, believing that the increasing popularity of Fluid and its smart Collateral and smart debt mechanisms are key drivers for improving the volume and efficiency of the Decentralized Finance sector.

anoncast (ANON)

Track: SocialFi

Reason: Vitalik publicly acknowledged, with a chance of causing viral spread

Forecast period: November 21, 2024 to February 21, 2025

Predicted coin price: 0.04 US dollars

Price performance prediction so far: a decrease of 37.29%

On the evening of November 20, Ether co-founder Vitalik Buterin made his first purchase of Base Token using the "vitalik.eth" Address through the Decentralized Finance aggregator ParaSwap, exchanging 0.082 ETH (253 USD) for 30.303k ANON.

ANON is a practical Token for 'anoncast', which is a social experiment based on Zero-Knowledge Proof. Tokenholders with at least 15,000 ANON can anonymously post through the Farcaster account associated with this protocol, and holders with at least 1 million ANON can promote or delete these posts on X/Twitter.

Although many experienced Base participants may feel some anxiety about the collapse of FRIEND and the SocialFi Token, the difference in this experiment is that it requires anyone who wants to interact with it to purchase ANON.

The Bankless analyst team is bullish on the price performance of ANON, because although the Token lacks fundamental value, it has already gained public recognition from Vitalik. If more encryption audience interacts with this novel experiment, it may cause viral spread.

Near（NEAR）

Track: L1

Reason: By leveraging AI storytelling, it can attract the attention of capital.

Forecasting period: November 14, 2024 to February 14, 2025

Predicted coin price: 5.2 US dollars

Price performance forecast to date: pump42.88%

On November 11th, Illia Polosukhin, co-founder of NEAR Protocol, proposed a plan to create the world's largest Open Source model with 1.4 trillion parameters, which will be 3.5 times larger than Meta's Open Source alternative Llama. According to Polosukhin's report to Cointelegraph, the training and computing costs (estimated to be about 160 million USD) will be funded through the sale of NEAR Token, and the model will run on a Decentralization computing network.

While increasing latency is a common drawback of decentralized computing networks, Polosukhin claims that emerging research from DeepMind, Google's AI subsidiary, suggests that fast connectivity is also possible.

The Bankless analyst team is bullish on the future performance of NEAR, as the advanced Decentralization computing network centered around NEAR combined with Polosukin's AI background will be a significant advantage for attracting users, developers, and capital to the network. However, if the market suddenly perceives limited value in such activities, selling NEAR to fund model development may depress prices meaninglessly.

Solana（SOL）

Track: L1

Reason: Trump's election is Favourable Information, and the Bull Market fear of missing out sentiment continues

Prediction period: November 13, 2024 to February 13, 2025

Predicted coin price: $217.2

Price performance prediction to date: pump9.12%

The Bankless analyst team in September did not have a positive view on the price performance of SOL, believing that there might be a decline as holders exit the ecosystem and invest in other alternative investment opportunities. Although SOL's performance compared to popular L1s like APT and SUI was not impressive, its price in USD steadily increased throughout October and experienced a significant surge in early November due to favorable US election results.

The Bankless analyst team has now turned SOL's forecast into bullish, as it is still able to enjoy favorable catalysts under the leadership of the Trump administration—such as the approval of Spot ETF—and because of the Bull Market, the market's general assumption of its sustainability in the foreseeable future.

Helium Network（HNT）

Track: Infrastructure

Reason: Users continue to rise, and have formed a strategic partnership with the telecom company.

Forecast period: November 12, 2024 to February 12, 2025

Predicted token price: 5.95 USD

Price performance forecast to date: pump43.87%

At the end of July, the Bankless analyst team was not optimistic about the price performance of HNT, so at that time, the Token had dropped by 90% from its historical high in 2021 and by 55% from the peak on February 15. In addition, platform revenue has declined, and user rise significantly slowed down after peaking in early March.

But since then, the data credit consumption rate of the Helium Network has more than doubled, indicating that the network usage has also doubled since July. This rise is mainly driven by Helium Mobile users, with the number of users increasing from 105,336 at the last prediction to 119,934.

Although the total number of Helium Mobile users may not be high, Helium's strategic partnerships with telecommunications companies help increase network usage. For example, Telefonica saw a rise of 18.1% in the number of devices connected to the internet of things network from 2021 to 2022, followed by a rise of 12.2% from 2022 to 2023.

Therefore, the Bankless analyst team expects the bullish price performance of HNT in the future, and predicts that the continuous rise of Helium Mobile users and strategic partnerships with telecommunications companies will drive the utilization of the Helium network, thereby positively impacting the entire Helium ecosystem.

Pendle Finance（PENDLE）

Track: Decentralized Finance

Reason: The protocol mechanism still has an advantage in the bull market.

Prediction period: November 8, 2024 to February 8, 2025

Predicted price: $5.19

Price performance prediction so far: pump29.09%

On September 20, the Bankless analyst team predicted a bearish trend for PENDLE prices, as $360 million in proceeds will expire later in the month. Although Pendle continued to offer market-leading yield opportunities at the time, its token price and total value locked have been sharply declining since late June 2024, when a large amount of $3 billion in maturing debt appeared in the pools created near the peak of the Airdrop frenzy in early 2024.

Despite Pendle experiencing a significant outflow of TVL in September, the Token price was not greatly affected, and TVL has been rising steadily since October. Therefore, the Bankless analyst team is bullish on the future performance of PENDLE, believing that its revenue Swap mechanism remains a leading mechanism in the market, and they will be in a favorable position as the Cryptocurrency Bull Market accelerates.

Lido (LDO)

Track: LST

Reason: Trump's election has stimulated the market's optimism towards the ETH ecosystem tokens.

Forecast period: November 7, 2024 to February 7, 2025

Predicted coin price: 1.34 US dollars

Predicted price performance so far: pump56.72%

With the end of the US presidential election, investors see Trump's victory as Favourable Information for the encryption market. Although Trump did not provide policy details during his campaign that he thought could benefit Cryptocurrency, he did promise to dismiss SEC Chairman Gary Gensler, who claimed that Lido's stETH was an unregistered security. In addition, before the election, Trump had raised $15 million in investment for World Liberty Financial (WLFI), an application that is expected to become the Aave deposit front-end.

While the encryption industry's hopes for the Trump administration are still largely speculative, he may fulfill vague promises and instruct executive branch agencies not to enforce regulations on encryption projects over the next four-year term, with the Republicans' sweeping victory in Congress providing a possibility for the United States to incorporate such reforms into law.

Although the Bankless analyst team is still concerned about the continuous decline in stETH market share and Lido's profitability, this bullish LDO is expected to stimulate investors' optimism about the unknown but seemingly better future with Trump's election.

Uniswap (UNI)

Track: Decentralized Finance

Reason: Trump's election has sparked market optimism.

Prediction period: November 6, 2024 to February 6, 2025

Predicted coin price: 9.29 USD

Predicted coin price performance to date: pump65.12%

In October, Bankless was bearish on the UNI token due to the launch of Unichain by Uniswap. Despite a drop of over 20% in the following month, UNI began to surge on November 6th, marking the largest pump since 2024 (second only to the pump on February 23rd, which was caused by a UNI fee conversion proposal that was later blocked by the Uniswap Foundation). The November pump was also driven by Trump's advantage in the election.

The Bankless analyst team is bullish on the price performance of UNI and expects cryptocurrency participants to be more optimistic about the prospects of recent industry regulations, especially when they apply to Tokens that may distribute cash flows to holders in a manner similar to dividends.

Jito（JTO）

Track: LST

Reason: Leading on the Solana LST track, the development of memes will benefit it.

Forecast period: November 1, 2024 to February 1, 2025

Predicted coin price: $2.29

Predicted coin price performance to date: pump 60.26%

In July, the Bankless analyst team was bullish on the price performance of JTO and expected the deployment of native Jito stake to solidify its position as the leading liquidity stake protocol on Solana. Despite a 17% price drop of JTO during the forecast period of the first three months, Jito's TVL has steadily reached all-time highs in both USD and SOL terms by 2024.

The surge in MEME quantity on Solana has also increased MEV opportunities; due to the high slippage generated by these low Liquidity MEME pools, Jito's daily SOL fees have reached an all-time high.

Therefore, the Bankless analyst team is bullish on the subsequent performance of JTO, believing that the protocol is consolidating its position as the first Liquidity stake protocol on Solana, and expects the popularity of Meme coins (as well as the tip payments generated by MEV arbitrageurs) to benefit JTO.