Despite the anticipation for a significant rise following the spot Bitcoin ETF, the expected did not happen, and sharp declines disrupted the market. Nevertheless, some altcoins seem to continue to exhibit a strong stance. In this context, we have examined the current status of three altcoins that are likely to experience sharp rises in a potential bull market and have a target of 1000 dollars.
Binance Coin (BNB) Comments
With its incredible rise during the 2021 bull market and being the native token of Binance, Binance Coin (BNB) is at the forefront of altcoins targeting $1,000 in the upcoming period. The most critical point for BNB is that it is the native token of the famous cryptocurrency exchange.
BNB had made a sharp rise above $300 during the recent bull market, delighting its investors, but it has not been able to maintain this level in recent days.
As of the time of writing, BNB is trading at $296.95, experiencing a 0.46% increase over the last 24 hours and reversing the 3.99% decline seen over the past 7 days. BNB’s one-month price movement indicated a 10% increase.
Quant (QNT) Price is Rising
Quant (QNT), ranked 55th in terms of market volume in the cryptocurrency market, seems to have shown opposite movements to BNB in recent weeks, despite today’s rise.
Nevertheless, according to the artificial intelligence (AI) algorithms on CoinCodex, the cryptocurrency is expected to make a notable rise to the $800 region due to upcoming innovations on the blockchain and interoperability efforts, which could subsequently take the altcoin to $1000.
At the time of writing, Quant (QNT) is trading in the $108.84 region, and this situation, despite a 6.72% rise in the last 24 hours, does not fully offset the 7.74% loss seen last week and the 18.36% drop last month, but it seems to indicate that the altcoin is on the rise again.
Current Status of Bittensor (TAO)
Bittensor (TAO), which stands out for being relatively new compared to its competitors, seems to be benefiting from the increasing influence of artificial intelligence. Bittensor is paving the way for machine learning models to work compatibly with each other, while also providing developers with a blockchain-based testing ground to earn rewards and aiming to create a transparent market.
Price volatility continues in Bittensor as well. The TAO price gained more than 11% in value in the daily review and is trading at $295 as of the time of writing. In addition, its 7% weekly rise has pleased investors.
Last month, the altcoin’s rise was approximately 10%, which refreshed investor confidence contrary to the prevailing downward trend in the market since the ETF was approved.
Movements like these in altcoins can be considered as a prelude to larger price movements during bull periods and could pave the way for investors to have greater hopes for a rise.
