Analyst Michael van de Poppe sagt AAVE, LINK und NEAR could lead the altcoin market shift
Wichtige Erkenntnisse
- •Analyst Michael van de Poppe expects established protocols such as Aave, Chainlink and NEAR Protocol to outperform newer altcoins in the current market cycle.
- •The TOTAL Excluding the Top 10 index has risen to roughly $247.8 billion — up from about $198 billion in early September.
- •Van de Poppe partly bases his view on the weak altcoin performance during the 2024 bull market and advises investors to assess whether project teams are continuing to develop their products toward product-market fit.
- •Resistance for the smaller-cap market is concentrated between $250 billion and $255 billion, while $240 billion forms the first notable support, followed by $230 billion to $235 billion.
- •Momentum indicators remain positive, with the RSI at 57.43 and the MACD histogram at roughly 589.72 million.
Analyst Michael van de Poppe expects established protocols such as AAVE, LINK and NEAR to outperform newer altcoins in the current crypto cycle, as the market capitalization of cryptocurrencies outside the top 10 has risen to roughly $247.8 billion — up from about $198 billion in early September.
The smaller-cap segment faces resistance in the $250 billion to $255 billion range, while $240 billion remains the first key support level.
Van de Poppe favors established protocols
In a post on X, van de Poppe said that previous market cycles often rewarded investors who rotated into newer altcoins, but he does not expect the current cycle to follow that pattern. He partly ties his view to the weak altcoin performance recorded during the 2024 bull market.
Rather than focusing on new projects, investors should assess whether project teams can continuously improve their products, he said. According to van de Poppe, resilience matters because teams need to continue developing their products toward product-market fit. He cited Aave (AAVE), a decentralized lending protocol; Chainlink (LINK), an oracle network that supplies external data to blockchains; and NEAR Protocol (NEAR), a layer-1 blockchain, as examples of established protocols.
TOTAL Excluding Top 10 reaches $247.8B
TOTAL Excluding the Top 10, an index that tracks the combined market capitalization of all cryptocurrencies outside the ten largest assets and is commonly used as a gauge of altcoin market breadth, stands near $247.8 billion, with the latest four-hour candle down $721.94 million, or 0.29%. Reported volume is $10.4 billion, according to TradingView chart data.
The index traded around $195 billion to $200 billion in early September before reaching approximately $213 billion around September 7. After a drop toward $198 billion, the market entered a stronger recovery around September 16, moving above $220 billion, $230 billion and $240 billion before reaching $254 billion to $255 billion.
Smaller-cap market consolidates near $250B
Since the late-September peak, TOTAL Excluding the Top 10 has traded mostly between $240 billion and $250 billion. The current level of $247.8 billion remains below the psychological mark of $250 billion.
Resistance is concentrated around $250 billion to $255 billion, while $240 billion forms the first notable support, followed by $230 billion to $235 billion.
Momentum readings remain positive. The Relative Strength Index (RSI) stands at 57.43 versus an average of 52.45, while the MACD line sits at 814.34 million and the signal line at 224.63 million, leaving the histogram at around 589.72 million.
A sustained move above $255 billion would confirm renewed strength, while losing the $240 billion support could expose the $230 billion to $235 billion zone.
