Crypto investors and analysts suggest that the 2024 altcoin season may have begun, with Bitcoin’s (BTC) sustained performance above $63,000 as a key signal. Optimism is bolstered by the Federal Open Market Committee’s (FOMC) decision to cut interest rates by 50 basis points in September.
Crypto Banter, a YouTube channel with over 1.08 million subscribers, predicts the 2024 altcoin season is starting. Founder Ran Neuner highlights six tokens that could rally, citing increased global liquidity and money market fund highs driven by the Federal Reserve’s rate cut. Notable tokens identified include Sui (SUI), which has gained prominence through partnerships and a recent trust launch by Grayscale.
Neuner also mentions Fantom (FTM), which has seen renewed investor interest following a rebrand to Sonic Labs and the introduction of Sonic Gateway. Additionally, ImmutableX (IMX) is expected to rally due to a bullish breakout, supported by chart patterns.
Another token highlighted is Aerodrome (AERO), noted for its MetaDEX model in the decentralized exchange market. Solana (SOL) is also featured for its historical strong performance during altcoin surges, and MANTRA (OM) is expected to grow with its mainnet launch, integrating real-world assets on-chain.
Neuner warns that future market movements could be influenced by the Bank of Japan’s (BOJ) upcoming CPI and interest rate decisions, advising caution until stronger liquidity is confirmed at the end of September.
