PiCK

Grayscale: “Major altcoins entering a bottoming zone…a buying opportunity”

Source

Uk Jin

Summary

Grayscale said major altcoins are nearing historic low levels, calling it a buying opportunity.
The report said Ethereum (ETH), Solana (SOL), Chainlink (LINK), Sui (SUI) and Avalanche (AVAX) have entered a bottoming zone.
Zach Pandl said the altcoin basket is down about 59% from its peak and that Sui (SUI) can meet financial institutions’ needs.

Forecast Trend Report by Period

Grayscale, a digital-asset (cryptocurrency) specialist asset manager, said major altcoins are nearing historic low levels and argued that investors should treat this as a buying opportunity.

According to crypto media outlet BeInCrypto on the 5th (Korea time), Grayscale said in a report that Ethereum (ETH), Solana (SOL), Chainlink (LINK), Sui (SUI) and Avalanche (AVAX) are among the altcoins that have entered a bottoming zone.

Zach Pandl, head of research at Grayscale, said the firm’s altcoin basket is down about 59% from its peak and has gained only about 2% from its low since launching related products in January 2024, adding that current prices for major altcoins “look like an attractive entry zone.”

Grayscale was particularly positive on Sui (SUI). The report said, “Sui is built on a programming model that secures scalability while maintaining security,” adding that “this can meet the needs of financial institutions.”