"Competitive Coin Bull Market" launched! Bankless: bullish "these 10 tokens" in the next 3 months

Source: Bankless

Compiled by: Golem, Odaily Planet Daily

I was wrong, I didn't expect the peak season for competitive coins to come at the end of November.

In early November, while Bitcoin continued to rise and other competing coins performed poorly, the market was still concerned about the lack of competition in this bull market. Most institutions and analysts also expressed negative views. However, by the end of November, data from TradingView showed that the total market capitalization of competing coins had nearly doubled since November, and Bitcoin's market share fell to 51.4%. At the same time, some analysts suggested that Bitcoin's market share is about to break through a multi-year support level, significantly affecting market sentiment and indicating that it is the peak season for competing coins.

Being in the competitive coin boom season can be a worry. Which tokens should you buy? Ryan Sean Adams, co-founder of Bankless, suggests that ETH will rise to $4000 in the next 24 hours. Perhaps this is just his personal fear of missing out statement, but Bankless' dedicated team of analysts has been predicting the price trends of some competitive coins. Since the start of the competitive coin boom season in November, they have been bullish on the price trends of 10 competitive coins for the next three months.

This article will summarize the Bankless analysis team's specific predictions and reasons for the bullish view on these 10 competitive tokens, and provide a summary of the success rate of token predictions expiring from late November to early December for readers' reference.

Win rate prediction for the end of November to early December: 40%

Apart from the neutral Token, there are 10 Token trends predicted by the Bankless analysis team, which will end by the end of November to the beginning of December. The prediction results are as follows:

Predicted to rise but fell: Euler (EUL) fell 27%;

Predicting a drop but seeing a rise: Ethervista (VISTA) rose 66%, UMA Protocol (UMA) rose 78%; Filecoin (FIL) rose 55%, 1inch (1INCH) rose 80.75%, BLUR rose 99.4%.

The predicted drop matches the actual drop: Sanctum (CLOUD) rose 99.69%, GMX (GMX) fell by 18.04%, Kamino (KMNO) rose by 206.37%, Canto (CANTO) fell by 55.14%.

Among them, the more serious forks are Instadapp (INST), 1inch (1INCH), and Blur (BLUR), and the predicted high-yield Kamino (KMNO) with a rise of 206.37%. However, the overall success rate of predicted expiration tokens from the end of November to the beginning of December is only 40%.

Token Review: Bullish

Aave (AAVE)

Track: Decentralized Finance

Reasons: Net deposits and active loans continue to grow, and the valuation index is favorable.

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

Predicted currency price: 238.91 US dollars

Predict the performance of the currency price to rise 2.88% so far

On July 31st, the Bankless analyst team was bullish on the AAVE price, because Marc Zeller proposed a 'temperature check' upgrade for the security module on July 25th, and AAVE Token plays a key role in the ecosystem.

In the past 30 days, the total active loans on AAVE have reached $12.51 billion, a growth of 46%, and the net deposits have also increased to $31.37 billion, a growth of 49% compared to the same period last year. The increased demand for leverage has driven the expansion of loans and higher interest rates. For example, the current interest rate for borrowing USDT on Aave is 37%, driving Aave's revenue to surge by 63%.

The price of AAVE Token has only risen by about 16%, which does not match the growth in protocol revenue, indicating that the market may not have fully responded to Aave's recent performance. Therefore, the Bankless analyst team continues to be bullish on AAVE.

Instadapp (INST)

Track: Decentralized Finance

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

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

Predicted price of Timecoin: $5.47

Predict the performance of the currency price to date: up rise 36.01%

On July 16, the Bankless analyst team was bullish on the expected INST price, as Fluid (a hybrid of the currency 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. It currently ranks fifth in 24-hour volume on Ethereum, second only to well-known projects such as Uniswap, Curve, Pendle, and Balancer.

Fluid's rapid success may be attributed to its innovative design. Users can not only earn profits from borrowers, but also from transaction fees. In addition, the debt position generates transaction fees to offset borrowing costs, which is a unique feature that improves capital efficiency.

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 the improvement of volume and efficiency in the field of Decentralized Finance.

anoncast (ANON)

Track: SocialFi

Reason: Vitalik publicly acknowledged that there is a chance of causing a viral spread.

Prediction period: November 21st, 2024 to February 21st, 2025

Predicted price of Timecoin: $0.04

Predicted cryptocurrency price performance to date: down 37.29%

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

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 a Farcaster account associated with the 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 a little anxious about the SocialFi token due to the collapse of FRIEND, the difference with this experiment is that it requires anyone who wants to interact with it to purchase ANON.

The Bankless analyst team expects a bullish price performance for ANON because, although the token lacks fundamental value, it has gained public recognition from Vitalik. If more encryption audiences interact with this novel experiment, it could cause viral spread.

Near（NEAR）

Track: L1

Reason: By incorporating AI narrative, it can attract attention from capital.

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

Predicted price of TimeCoin: $5.2

Performance of the currency price prediction so far: rise 42.88%

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

While increasing latency is a common drawback of distributed computing networks, Polosukhin claims that new research from DeepMind, a subsidiary of Google's artificial intelligence, suggests that fast interconnection is also possible.

The Bankless analyst team is bullish on the future performance of NEAR, as the combination of NEAR-centered advanced decentralized computing network and Polosukin's AI background will become a significant advantage for the network to attract users, developers, and capital. However, if the market suddenly finds the value of such activities limited, selling NEAR for model development funding may depress prices meaninglessly.

Solana (SOL)

Track: L1

Reason: Trump's election is a positive factor, and the Bull Market fear of missing out sentiment continues.

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

Predicted coin price: 217.2 US dollars

Predicted performance of the currency price to date: rise 9.12%

In September, the Bankless analyst team is not optimistic about the price performance of SOL, believing that as holders exit the ecosystem and turn to some alternative investment opportunities, the price may decline. Although the price increase of SOL is indeed not good compared to popular L1s such as APT and SUI later, its price in US dollars steadily rose throughout October and completely surged in early November due to favorable results of the US election.

The Bankless analyst team has changed its prediction for SOL to bullish, as it continues to benefit from 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: User growth continues, and strategic cooperation has been carried out with telecom companies.

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

Predicted price of Timecoin: $5.95

Predicted performance of the currency price to date: pumped 43.87%

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

But since then, the data consumption rate of the Helium Network has more than doubled, indicating that 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 people at the time of the last prediction to 119,934 people.

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

Therefore, the Bankless analyst team expects the continued growth of Helium Mobile users and strategic partnerships with telecommunications companies to drive the utilization of the Helium network and have a positive impact on the entire Helium ecosystem.

Pendle Finance（PENDLE）

Track: Decentralized Finance

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

Forecast Period: November 8, 2024 to February 8, 2025

Predicted price of TimeCoin: $5.19

Predicted performance of the currency price to date: rise 29.09%

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

Despite the significant TVL outflow in September, the price of PENDLE Token has not been greatly affected, and TVL has been on the rise since October. Therefore, the Bankless analyst team is bullish on PENDLE's subsequent performance, believing that its revenue swap is still a leading mechanism in the market, and they will be in a favorable growth position if the cryptocurrency bull market begins to accelerate.

Lido（LDO）

Track: LST

Reason: Trump's election has sparked optimism in the market for Ether-based tokens.

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

Predicted price of ShiCoin: 1.34 US dollars

Predict the performance of the currency price to date: rise 56.72%

The end of the US presidential election is seen as a positive for the crypto market by investors as Trump's victory. Although Trump did not provide details of his policies that he believes would benefit cryptocurrency during the campaign, he did promise to dismiss SEC Chairman Gary Gensler, the regulatory agency claiming that Lido's stETH is an unregistered security. In addition, before the election, Trump raised $15 million for World Liberty Financial (WLFI), an application that is expected to become the Aave deposit front-end.

Although the industry's hope for the Trump administration is largely speculative, he may fulfill vague promises and direct executive agencies not to enforce regulations on encryption projects during the next four-year term. The Republican Party's sweeping victory in Congress provides the possibility for the United States to incorporate such reforms into law.

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

Uniswap (UNI)

Track: Decentralized Finance

Reason: Trump's election stimulates market optimism

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

Predicted Coin Price: $9.29

Predict the performance of the currency price so far: rise 65.12%

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

Bankless analysts are bullish on the price performance of UNI and expect cryptocurrency participants to be more optimistic about the prospects of recent industry regulations, especially when they apply to tokens that distribute cash flows to holders in a manner similar to dividends.

Jito (JTO)

Track: LST

Reason: Leading on the LST track on Solana, the development of MEME coins will benefit from it.

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

Predicted price of SHIB: $2.29

Predict the performance of the currency price to date: rise 60.26%

In July, the Bankless analyst team expected JTO's price performance to be bullish, anticipating that the deployment of Jito's native stake will consolidate its position as the leading Liquidity stake protocol on Solana. Despite JTO's price falling by 17% during the forecast period of the first three months, Jito's TVL in terms of USD and SOL both steadily reached historic highs in 2024.

The increase in the quantity of Meme coins on Solana has also led to an increase in 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 coin (and the tip payments generated by MEV arbitrageurs) to benefit Jito.

(The above content is excerpted and reproduced with the authorization of the partner PANews, original link | Source: Odaily Planet Daily)

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<"Competitive coin bull market" launched! Bankless: Bullish on these 10 altcoins in the next 3 months> This article was first published on Blocktempo.