Top Two Layer-One (L1) Altcoins Likely to Pump Catalyzed by Rising Institutional Investments 

The recent crypto market crash has sent shockwaves through the industry, but for savvy investors, it might be a golden opportunity. As fear grips the market and prices plummet, long-term holders are seizing the chance to accumulate more altcoins. Interesting on-chain data reveals a pattern of increased buying activity by experienced investors.

Bitcoin’s dominance in the market is showing signs of weakening, indicated by a rising wedge pattern and bearish signals on the weekly Relative Strength Index (RSI). This suggests a possible shift of capital from Bitcoin to altcoins, which could benefit from this rotation.

Here’s more on this below.

Why Bet on Emerging Layer One (L1) Chains

Ethereum’s rapid growth over the past few years has spurred the development of similar projects. More institutional investors are investing heavily in building the infrastructure needed to expand Web3 and digital assets.

Layer-one (L1) blockchains are crucial in powering the DeFi industry, which now holds over $75 billion in total value, and the stablecoin sector, valued at more than $120 billion.

Toncoin (TON)

Toncoin (TON), backed by Telegram, has quickly become a leading L1 network. Its ecosystem now boasts a total value locked (TVL) of over $576 million, with stablecoins worth about $619 million. Toncoin’s DeFi projects have gained significant traction, achieving impressive adoption in under a year.

One example is HashKey Group, a prominent digital asset services firm in Asia, forming a strategic partnership with Catizen, a gaming bot on the Toncoin network, built through Telegram.

Consequently, the TON price is likely to continue with a bullish trend in the coming weeks, following the recent breakout.

Aptos (APT)

Aptos (APT) network is a fast-growing L1 chain with a fully diluted valuation of about $2.8 billion and a daily average traded volume of about $224 million. Developed by former engineers from Meta’s Diem blockchain, the Aptos network has received tremendous attention from web3 developers and investors. 

Tether, a leading stablecoin issuer, has also announced plans to launch its USDT product on the Aptos network.

 “Aptos’ innovative technology offers a solid platform for facilitating faster and more cost-effective transactions with USD₮,” Paolo Ardoino, CEO of Tether, noted. 

Also Check Out: Bitcoin Longs Liquidated-But Still We are at the Early Stages of the Upcoming Bull Run!

These altcoins are making headlines. Are they worth your investment? You decide.