L-1 Altcoins Show Upside Potential

• As Bitcoin dips below the $95,000 price level, altcoins are expected to print gains.
• AVAX and DOT are up 62.74% and 105.55% in the past month.
• XDC turned bullish in the past day, skyrocketing 11% in 24 hours.

Bitcoin’s (BTC) recent dip below $95,000 has triggered a decline in the altcoin market, creating a potential buying opportunity. Several Layer 1 altcoins, in particular, are showing strong bullish signals.

These Layer 1 tokens include Avalanche (AVAX), Polkadot (DOT), Fantom (FTM), Internet Computer (ICP), Algorand (ALGO), Quant (QNT), XDC Network (XDC), Aptos (APT), and Sei (SEI). With Bitcoin (BTC) trading at $94,311.81, down 1.8% from its all-time high of $99,655.50, altcoins are expected to dominate soon once BTC breaks $100,000.

Read also: XRP Eyes Top 5 as Stellar Records a 463% Price Surge

As per CoinMarketCap data, AVAX trades at $41.48, down 71% from its all-time high of $41.56. Despite this, the digital asset gained 18.46% in the past week, 62.74% in the past month, and 97.59% since November 2023. In contrast, DOT and FTM trade respectively at $8.27 and $0.9517, down 7.29% and 0.38% yesterday. But FTM jumped 46.91% in the past 30 days, while DOT climbed 105.55% in the same period.

ICP, ranked 25th on CoinMarketCap, trades at $11.63, up 24.57% last week and 50.84% last month. Meanwhile, ALGO holds 55th position in the crypto market, down 5.74% yesterday to $0.2652. Yet, the altcoin has risen 131.13% in the last 30 days.

Good Buys: QNT, XDC, APT, and SEI

QNT and XDC turned bullish in the past 24 hours, surging 2.36% and 11.18%. While QNT trades at $99.29, the latter is priced at $0.05836 at the time of writing. In the past month, QNT has printed 62.18% in gains while XDC is up 113.59% in the same period. 

Finally, APT and SEI are also well-performing tokens with the latter surging 66.88% in the last 30 days. While APT trades at $12.04, down 2% in 24 hours, SEI is priced at $0.6378, up 1.50% in the past day.