An altcoin season is when alternative cryptocurrencies that for the first time in history outperform Bitcoin in terms of price performance. This is a season that can be very beneficial to exchanges, investors, and the entire market, as it causes an upsurge in trading volumes and brings various opportunities to earn more. A recent move by a crypto whale that swapped out $800,000 USDT for Solana and a cheap Cardano competitor below $0.10 has sparked curiosity about whether we are on the brink of an altcoin season.

Whale Activity: A Major Indicator

One of those definitive indications that some volcano is going to erupt soon in those markets is when some whales make further noticeable activities. Whales exert great influence in the markets as they hold huge capital and can equally manipulate markets certainly when it concerns low-liquid instruments like altcoins. A crypto whale, for the first time since March, actively changed its strategy and shifted USDT to Solana (SOL) and quite affordable Cardano’s antagonist Rexas Finance (RXS) with a market swap of $800,000. It has attracted intrigue, and the attention it deserves because it means this whale believes these assets will break into a massive bullish run.

Solana’s Current Position

At any other time frame, speech with Solana is bracing within a rectangle formation where the bottom support level is found at around $121 and the upper resistance wall is set at $188. There is a point or area in chart analysis wherein, when broken, it denotes the beginning of a new and strong trend and growth of 10x returns. This makes Solana a good investment option to make further profits in the coming months during the next altcoin season. For that reason, the recent attack of a whale invested in this asset USDT large sums makes it possible to explain the asset’s future growth. Likely, the move of the whale is also rational from a market perspective as Solana’s ecosystem still has growth potential and is drawing lots of developers and investors.

Rexas Finance (RXS): The Cardano Rival Below $0.10 

The Whale has also invested in Rexas Finance (RXS), a comfortably competing project that is at the presale stage 2 for the time being which costs $0.04. Rexas Finance challenges Cardano, amongst other prominent blockchains, to deliver unique offerings and an impressive work plan. However, it is the decision to purchase Rexas Finance that raises eyebrows most as the asset is new and still developing. Strong interest fundamentals supporting positive cost action in sync with the visionary plans suggest that it could make a massive 50x move entering $2.  Since the DeFi sector remains expanding and compelling the raising of funds, It is easy to assume that good projects like Rexas Finance will benefit greatly. That is probably why the Whale also invested a larger portion of their funds in this new altcoin incubator hoping for better profits.

Implications for the Market

The Whale’s action suggests that there are preparations to start an altcoin season from institutional or a crypto Whale. In the past, when such types of Whales have hoarded altcoins it’s because they expect a higher return on them than they would on BTC. This could create a renewed appetite for altcoins as retail investors jump onto the bandwagon increasing the trading activities of these coins and thus their matching prices. This phenomenon will also extend to crypto exchanges. During a period when there is an altcoin season, the activities of altcoin exchanges will lead to more trade transactions, and therefore trade fees will be worthless. This cycle will be virtuous in that increased prices for altcoins will attract increased participants making the class of assets even more valuable with time.

Conclusion: Is Altcoin Season Coming?

Forecasting the exact start of an altcoin season is indeed a hard nut to crack. However, based on their activities as of late, it’s safe to speculate on an impending altcoin season by the Whale. There is a tightening of the leash where whales are making heavy purchases of altcoins like Solana (SOL), and Rexas Finance (RXS) in addition to what seems to be a general tendency in the market. When this happens, investors in the vast majority of haste will pour into the purchase of altcoins, thereby increasing the volume of trading and their price equally, which will mark the beginning of the new summer of altcoins. 

For more information about Rexas Finance (RXS) visit the links below:

Website: https://rexas.com

Whitepaper: https://rexas.com/rexas-whitepaper.pdf

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