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Weekly altcoin watchlist.
First, it's been another brutal week. Hats off to everyone who survived 🫡. $BTC and $ETH fell again without much context, and the whole crypto collection dropped by almost the same percentage. That said, altcoins didn't fall further, consistent with our observations since January this year.
$MEGA, $MON, and $BERA continue to lead my watchlist, which is great.
A lot of data on CT is trying to argue that $BTC will crash again.
I'll remain optimistic, but I won't bet that it definitely won't happen.
Another generally negative factor for alts is that @OndoFinance led a batch of xStocks listings on CEXs, including @binance , and @HyperliquidX is actively listing stocks through HIP-3, which might divert the thin liquidity of crypto to the stock market further.
This sounds reasonable, but on the other hand, it will also attract many people who couldn't trade stocks (or who don't intend to pay capital gains tax) to migrate to crypto-native platforms like Hyperliquid. And this will also benefit Ethereum (70% TVL deployed on Ethereum).
Let's wait and see.

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