Altcoins To Stack Ahead of the June 17 FOMC Meeting

• Bitcoin eyes breakout as markets price in possible rate cuts.
• SUI grows fast in DeFi, stablecoins, and NFTs sectors.
• Solana outpaces Ethereum in users, stablecoins, and transaction volume.

The latest US inflation numbers are out, and they’re better than expected. The Consumer Price Index (CPI), which shows how fast prices are rising, came in lower than many thought. After the news, stock and crypto markets saw a small jump, and interest rates dropped a little. 

Now, experts are waiting for an important FOMC meeting, happening on Tuesday and Wednesday this week. This meeting could signal the start of a new phase for markets, with some altcoins expected to benefit more than others if rate cuts eventually arrive.

According to AltcoinBuzz, while many tokens remain quiet, a few stand out for their strong growth and growing user base. The analyst’s first choice is Bitcoin, especially when interest rates drop. Historically, rate cuts have sent Bitcoin soaring, and it’s expected to break $110,000 in this cycle. 

Related: XRP and Bitcoin Both Show Bullish Signs, But for Very Different Reasons

Altcoin 1: SUI

Sui has quietly become one of the strongest performers in this market cycle. It’s up over 200% in the past year and is making big moves in important areas like DeFi and stablecoins. Sui recently crossed nearly $2 billion in Total Value Locked (TVL). 

It’s also expanding into areas like decentralized data storage and NFTs, making it a growing force in the crypto space.

At the time of writing, SUI is down by more than 1% and is trading at $3, making it a ‘discounted buy.’

Related: The Race for a Spot Solana ETF Intensifies as European Giant CoinShares Files in the US

Altcoin 2: Solana (SOL)

Solana has climbed back, moving between $150 and $225 over the past few months. It’s leading in daily active users and transactions, leaving even Ethereum behind in some key metrics. Solana’s growing stablecoin market and rising transaction fees show its strong demand, and with cheaper fees and fast speeds, it’s one of the most user-friendly platforms out there.

Solana is also down by 2.65% and is trading at $153. SOL might soon target the next important resistance level sitting at $164 (50% Fib).

Altcoin 3: Bittensor (TAO)

As AI continues to grow, Bittensor is leading the decentralized AI space. The project recently added its 100th subnet, creating more use cases for its native TAO token, and its fixed 21 million token supply makes it rare and valuable, like Bitcoin. If a few of these subnets succeed, it could send TAO’s price soaring.

TAO is also down by more than 3%. However, the analyst said that TAO is ready to explode when the next big move comes.