- Gemini appears to be building a huge altcoin stash dominated by ETH
- Is it a signal of early positioning for a likely 2025 altcoin rally?
As a seasoned crypto investor with over a decade of experience navigating the volatile digital asset market, I find Gemini’s recent altcoin accumulation intriguing. The massive buying spree, particularly in Ethereum and other high-quality altcoins, suggests early positioning for an anticipated altcoin rally.
Approximately $120 million in various altcoins such as Ethereum (ETH), Chainlink (LINK), and popular meme coins like Shiba Inu (SHIB) and Pepe (PEPE) have been amassed by the Gemini exchange.
As reported by Spot On Chain, Ethereum (ETH) was the leading coin in Gemini’s altcoin holdings over the past 18 days, with Gemini amassing a substantial $103 million worth of ETH during this period.
Indeed, as anticipated, this large-scale purchase of altcoins has sparked speculation – Could it be that the platform or its key investors are gearing up for the long-awaited altcoin rally?
Is an altcoin rally likely in 2025?
Many analysts appear eagerly anticipating the commencement of the Federal Reserve’s easing cycle, considering it a potential catalyst for an increase in the price of altcoins.
Indeed, some altcoins experienced a surge starting from September, recording gains of over 10%. Yet, this upward trend wasn’t uniform throughout the entire altcoin market, as not all cryptocurrencies showed similar positive results.
As a researcher examining the cryptocurrency market trends, I’ve noticed that Bitcoin‘s current dominance spike to an all-time high of 60% may potentially postpone the anticipated altcoin boom in 2024. Some market analysts suggest that any significant altcoin surge could potentially occur in early 2025.
Market analyst Benjamin Cowen shares a comparable viewpoint. Referencing past patterns, he predicts that altcoins might continue to lose strength towards the latter half of 2024. However, a potential recovery could occur in 2025, according to his forecast.
“The altcoin reckoning should be over by December 2024 (2nd week of January 2025 at the latest).”
If this trend continues, the gradual devaluation of top-tier altcoins might present excellent opportunities for buying at reduced prices. This is a strategy that could potentially yield significant returns when the altcoin market surge in 2025 occurs.
It’s noteworthy that certain altcoins amassed by Gemini appear to offer substantial discounts. For instance, Ethereum appears to be significantly undervalued, as suggested by its negative MVRV (Market Value to Realized Value) and MVRV Z score figures.
The metric gauges the asset’s press time price against the average cost of all acquired assets.
As a researcher, I express that a higher value signifies an “overvalued” situation where more investors find themselves in a profitable position to sell. Conversely, lower or negative values imply “undervalued,” suggesting that the asset might be underpriced and potentially ripe for investment.
Read Ethereum [ETH] Price Prediction 2024-2025
At the given moment, the Ethereum (ETH) Multi-Version Realized Value (MVRV) showed a 180-day reading of -15%, which also corresponds to yearly lows for the MVRV Z score. This suggests that ETH might be currently priced lower than its actual value or considered as a potential bargain.
Indeed, analyst Ali Martinez has pointed out that Ethereum (ETH) might present an excellent risk-to-reward opportunity if it manages to hold the $2,400 support level and potentially reach $6,000.
Just like LINK, it was comparatively affordable due to its low MVRV (Money Value Ratio of Venture) Z score. In essence, if the anticipated 2025 altcoin surge materializes as predicted, the premier altcoins in Gemini’s possession could potentially yield substantial returns.
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2024-11-05 10:15