As Bitcoin stabilizes above the $90,000 mark, the altcoin sector demonstrates robust potential for growth during the upcoming weekend. Despite minor dips below this significant level, numerous altcoins are enjoying double-digit growth, contradicting the possibility of yet another fleeting rally. Coins like Aster and HYPE are forecasted to reach new highs if current trends continue into January.
Aster Coin’s Performance Outlook
Per DefiLlama statistics, while the perpetual contract volumes for Aster are on the mend, the Total Value Locked (TVL) remains steady. At present, Aster’s open positions are valued at $2.5 billion, maintaining a considerable distance from recent lows. As we head into the new year, Aster Coin is anticipated to exhibit significant upward movements, thanks to its promising revenue projections.
Approaching the weekend, Aster seeks a modest 4% growth but is challenged by resistance at the $0.78 mark. Breaking this barrier could open the door to an ambitious price range of $0.91 to $1.39. The market’s mood in January could see Aster pushing towards a peak of $1.39.
Will HYPE Coin Meet Its Valuation Goals?
Hyperliquid protocol is witnessing a rise in open positions, with DefiLlama indicators displaying favorable earnings trends. These open positions are nearing $7.5 billion. Taking advantage of its status as a pioneer in decentralized exchanges, Hyperliquid is poised for gains. The upcoming unlock on January 6 will release 12.46 million HYPE tokens, part of a series that will increase the circulating supply to 903 million. The current circulation stands at 339 million, but may be offset by token burns.
Regular token burns could mitigate the supply increase caused by these unlocks, potentially fueling a deflationary trend. However, with major unlocks imminent, achieving this remains a complex challenge due to the rapid supply growth.
Despite this, the $24 price holds firm amid significant buyer interest. Long-term HYPE Coin investors might overlook the intrinsic risks associated with substantial token unlocks. The problem of annual double-digit inflation is common among many altcoins.
In the short term, HYPE seeks to dispel concerns over token unlocks and aim for $26.2. With a surge in positive market sentiment, a reach of $29.5 could be within grasp. Continued and substantial announcements about token burning could push the price target upwards to $35, emphasizing economic factors over technical analysis.
“We are confident in the potential for growth, driven by strategic monetary dynamics within the Aster and HYPE Coin economies,” said a spokesperson.
All eyes remain on whether these cryptocurrencies can uphold their momentum, promising significant opportunities in the rapidly evolving digital currency landscape. The coming weeks will be crucial in defining new benchmarks for these growing entities in the crypto market.
