Top Two Layer-One (L1) Altcoins Likely to Pump Catalyzed by Rising Institutional Investments 

The post Top Two Layer-One (L1) Altcoins Likely to Pump Catalyzed by Rising Institutional Investments  appeared first on Coinpedia Fintech News

The recent crypto crash presented a major opportunity for long-term holders to accumulate more altcoin assets ahead of the highly anticipated parabolic rally. On-chain data analysis shows that smart money has accelerated its accumulation pace amid heightened fear of further crypto capitulation.

As Bitcoin dominance signaled inevitable reversal as depicted by the rising wedge amid bearish divergence on the weekly Relative Strength Index (RSI), cash rotation is expected to favor altcoins. 

Why Bet on Emerging Layer One (L1) Chains

The meteoric growth of the Ethereum ecosystem in the past few years has influenced the emergence of other similar projects. More institutional investors have poured significant investments into the development of proper infrastructure to enable the democratization of web3 and digital assets.

The DeFi industry, which has more than $75 billion in total value locked, in addition to the stablecoins sector, which is valued at over $120 billion, is primarily enabled by layer-one chains.

Toncoin (TON)

Telegram-backed Toncoin (TON) has grown to a top-tier L1 network, with a TVL of over $576 million and a stablecoins market cap of about $619 million. The Toncoin ecosystem has received tremendous support from the crypto community, with its DeFi projects registering staggering adoption in less than a year. 

For instance, HashKey Group, a leading end-to-end digital asset financial services group in Asia, announced a strategic partnership with Catizen, a Telegram-based gaming bot leveraging the Tocoin network. 

Consequently, the TON price is likely to continue with a bullish trend in the coming weeks, following the recent breakout.

Aptos (APT)

Aptos (APT) network is a fast-growing L1 chain with a fully diluted valuation of about $2.8 billion and a daily average traded volume of about $224 million. Developed by former engineers from Meta’s Diem blockchain, the Aptos network has received tremendous attention from web3 developers and investors. 

For instance, leading stablecoins issuer Tether has announced that it will soon be launching on the Aptos network to further democratize its USDT product.

 “Aptos’ innovative technology offers a solid platform for facilitating faster and more cost-effective transactions with USD₮,” Paolo Ardoino, CEO of Tether, noted. 

Also Check Out: Bitcoin Longs Liquidated-But Still We are at the Early Stages of the Upcoming Bull Run!