Top Altcoins To Buy As Bitcoin Price Rallies Post Halving Event

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Bitcoin (BTC) price rallied as high as $67,200 in the past 24 hours, fueled by traders’ optimism following the weekend’s halving event. The flagship coin is aiming to reclaim $70k in a bid to rally towards a new all-time high (ATH) in the coming weeks. Furthermore, Bitcoin miners, a major source of selling pressure, have not been selling in recent times despite the increment in mining difficulty.

As of this report, Bitcoin traded around $66,300, thus triggering heightened altcoin volatility led by Solana (SOL) and Ripple-backed XRP. 

Top Altcoins on Santiment’s Buy List 

#Altcoin markets are riding high as #Bitcoin's rebound back above $67K has allowed profits to resume redistributing into more speculative #cryptocurrency assets. According to @santimentfeed's dashboard, the tokens receiving the highest increase in discussion are:

… pic.twitter.com/TjXHOdb0LF

— Santiment (@santimentfeed) April 23, 2024

According to market intelligence platform Santiment, short-term Bitcoin traders have begun distributing profits to more speculative altcoins led by meme coins. Furthermore, a Bitcoin rise in the near term will move with the altcoins, thus guaranteeing a palatable return.

Popcat (POPCAT)

In the meme coin section, Santiment noted that POPCAT, a Solana-based project, has become the most popular among speculative investors. According to the latest market data, the price of POPCAT has rallied about 30 percent in the past 24 hours to trade around 38 cents. 

It is worth noting that the small-cap altcoin had a fully diluted valuation (FDV) of around $371 million and a 24-hour average trading volume of about $117 million. The recent POPCAT price jump has pushed the meme coin to retest its ATH, with high expectations of price discovery in the coming weeks.

Amp (AMP)

In the DeFi-based altcoin category, Santiment noted that Amp (AMP) has registered a sharp uptick in trading volume, which is alluring for speculative investors. According to market data provided via Binance-backed Coinmarketcap, AMP registered a 50 percent spike in daily trading volume to about $25 million on Tuesday during the early Asian session.

With an FDV of about $796 million, the small-cap altcoin gained over 22 percent in the last seven days to trade around $0.0079.